April 30, 2019

Mobile Authenticator offers increased online banking security

Mobile authenticator is an added level of protection when logging on to online banking from your PC. The mobile authenticator generates a one-time, time-sensitive, six-digit code directly on your smart phone. When prompted, you’ll enter this code into LMCU’s online banking login. To learn more visit LMCU.org/MobileAuthenticator.

Member Perks May 2019

Credit union members get cash with no strings attached

Your rewards are here. Members get a $100 cash reward for every new line activated with Sprint®, now on unlimited lines. No strings attached—just cash.

Here’s how to get cash rewards for every new line you activate with Sprint:

1. Add a line to your new or existing Sprint account and mention that you’re a LMCU member.

2. Register at LoveMyCreditUnion.org/SprintRewards

3. Cash rewards will be deposited directly into your credit union account within six to eight weeks.

Already a Sprint customer? Register now to receive a $100 loyalty cash reward per account every year starting one year after registration.

Get cash rewards! Visit LoveMyCreditUnion.org/Melvin to learn more.

Exclusive member tuition discounts

Our roots go way back to The Grand Rapids Teacher’s Credit Union, and 85 years later, we still believe in the importance of education. That’s why we’re investing in LMCU members and employees by partnering with universities to offer you discounts on tuition to help you further your education. Members now get access to exclusive tuition discounts at Davenport University and Point Park University. Visit LMCU.org/MemberPerks to learn more.

5 Tips to finance your custom-built home

We all want the perfect home that reflects our tastes, sensibilities, and unique styles. But sometimes, it doesn’t exist. At least not yet. If you’re thinking about building, follow these five tips to make the construction financing process…well, less of a process.

1. Know your credit score. By finding out what your credit score is, you’re able to take steps to either maintain or improve your credit score. To get the best rates, a FICO score of 720 or higher is ideal.

2. Save up for at least a 5% down payment. At Lake Michigan Credit Union, we have multiple lending solutions to fit your needs—including low-down payment options* . By saving up for your down payment, you’ll be well on your way to building your dream home.

3. Get pre-qualified. Knowing how much home you can afford is important so you’ll know if that fourth bedroom is within budget. A LMCU Loan Officer can walk you through the process and build a construction loan specifically for you.

4. Budget more than expected. Finishing costs are often overlooked. These include things like landscaping, a mail box, or fences. It’s typically recommended that you allocate an extra 15-25% of your budget for these kinds of costs. By budgeting a little extra, you’ll be prepared for any unforeseen expenses.

5. Connect with a builder that fits your sense of style. It’s important to choose a builder that’s right for you. Consider their credentials, references, past work, style, personality, and price. Connecting with the right builder from the start will help the process go as smooth as possible.

LMCU’s streamlined builder activation process minimizes paperwork throughout the build. Our one-time, upfront close before construction saves you money by combining your construction costs with your permanent financing**.

Remember, this is a rare opportunity to build precisely the kind of new home you’ve been dreaming of. So take your time, ask questions, and make it what you want!

Contact a Loan Officer to get started. Visit LMCU.org/Mortgage, call (844) 754-6280, or stop by your local branch.

*For well-qualified borrowers. LMCU NMLS ID #442967 **Learn more by visiting LMCU.org/Mortgage.

April 25, 2019

You and your investment representative: a relationship of trust

Perhaps your doctor, lawyer, and accountant are trusted advisors. Through years of working with them, they have come to know your family and your particular needs. How about your investment representative? Have you built the same kind of trusting relationship with him or her? Your investment representative could be a resource to tap for financial planning information through the many stages of your life.

Investing for Long-Term Goals: Your investment representative can help you create a portfolio with an asset allocation strategy that suits your family’s needs and goals while maximizing your potential returns. He or she can also assist you with regular portfolio reviews. When rebalancing your portfolio becomes necessary, your investment representative may help you consider any moves to make in the most tax-efficient manner.

Short-Term Savings: Are you among the many Americans who have neglected to create a cash cushion? Having between three and six months cash available can help you pay for unexpected expenses and potentially safeguard your long-term investment goals. Without short-term savings, you may find yourself having to sell investments to meet your obligations. If you have no such fund, your investment representative can help you find the money to build the cash account.

Retirement: With more and more Americans living longer, healthier lives, it’s quite possible that today’s retiree could spend upwards of 20 or even 30 years in retirement. That raises an important question: Are you setting aside enough savings to help support a lengthy retirement? Your investment representative can help you determine how much money you’ll need to retire and then work with you to build the portfolio that can help you fund the kind of retirement you have in mind.

College: In recent years, the cost of a college education has outpaced the rate of inflation. Your investment representative can help you come up with creative potential funding solutions for your children’s education.

Estate Planning: Contrary to conventional thinking, estate planning is not just for the wealthy. With some planning, you can potentially minimize gift and estate taxes and keep more of your assets for those you care about. You have many options for estate planning, and many experts recommend using a qualified professional to develop an appropriate plan.

An investment representative can help whether you have a specific need or are looking for some general information. As a trusted advisor, your investment representative may help you find solutions to the financial decisions you face.

To get started call (616) 234-6358 or visit LMCU.org/Investments.

Securities and financial planning offered through LPL Financial, a registered Investment Advisor, Member FINRA/SIPC.Insurance products offered through LPL Financial or its licensed affiliates. Lake Michigan Credit Union and MaxWealth Management are not registered broker/dealers and are not affiliated with LPL Financial

Another Max’s Reading Adventure is in the books

Max the Monkey encouraged kids all over Michigan and Florida to crack open a good book (or five). Kids were challenged with completing a five-book reading list and then submitted it for a chance to win a $100 deposit into their savings account. Over 1,300 entries were submitted, which equals about 9,500 books read! A winner was randomly selected at each branch. Thanks to all the young readers who entered!

Is your child a Kids Club member? You can open a Kids Club account for your kids 12 & under by stopping by any LMCU branch. A parent will need to approve and sign the application form, but it only takes a few minutes. You’ll need their social security number and at least $5 for an initial deposit.