So how does LMCU compare with credit unions across the country? Callahan & Associates, a Washington DC-based national credit union research and consulting firm, has evaluated loan and deposit rates for credit unions across the country and put the numbers into a national ranking system that calculates how well credit unions return benefits to its members.
The measurement is called “Return of Member” (ROM). It captures a comprehensive view of a credit union’s member relationships by focusing on three core functions: savings, lending, and product usage.
ROM quantifies a credit union’s performance in funneling profits back to its members in the form of new products and services, higher savings rates, lower borrowing rates, as well as fewer and lower fees.
The bottom line? Lake Michigan Credit Union’s ROM score ranks #1 in the nation for credit unions with assets over $1 billion.
Yes, LMCU is indeed the best place for your money. And there’s math to prove it.