September 1, 2011

Lake Michigan Credit Union: Now More Than Ever... the Best Place for Your Money

We are all hearing the discussions about our country's debt. We want our members to know that we are tracking this very closely. I want to assure you that LMCU is in a very secure financial position and we will continue working to give our members the best possible rates and products.

LMCU has total assets of $2.3 billion, including $1.5 billion in loans consisting of auto loans, auto leases, mortgages and credit cards. Our loan portfolio has minimal risk. The underwriting standards for our loans are stringent-we make high-quality loans and this is reflected in our exceptionally low loan delinquency rate which is less than 1% of the total loan portfolio.

A total of $435 million of our assets are in investments that are safe and secure and backed by the U.S. government. We do not invest in risky securities and we have no significant exposure to non-federal agency backed securities. Also, as a credit union, we are not allowed to buy stock, so the variations in the stock market do not directly affect us.

We have over 177,000 members and are continuing to grow. LMCU is a safe and secure place for your money; you will always earn top rates on your deposits and we are a great choice for your borrowing needs.

Thank you for your business, and rest assured, LMCU now more than ever, is the Best Place for your money.