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GRAND RAPIDS – Lake Michigan Credit Union announced it had a record year in 2009, including the opening of four new branches, as well as increasing membership and assets.

“We are pleased to report that 2009 was a successful year for LMCU, marked with strong growth and a solid financial performance. Assets grew to $1.833 billion, a 23-percent increase over 2008,” Sandra Jelinski, president of LMCU, stated in a release. “We experienced 12-percent growth in membership, ending the year with 155,417 members. As the second largest credit union in the state, and the 66th largest credit union in the nation, Lake Michigan Credit Union is a leading and prominent financial institution in West Michigan. Despite the economy, we focused on solid financial strength. Looking forward, we will continue to focus on ensuring member satisfaction and quality service.”

Also in 2009, LMCU:

• Expanded branch network to a total of 26 locations by adding new branches in Allendale, Jenison, Kalamazoo, and at the Grand Rapids Community College Learning Corner
• Helped members with financing over $821 million in home loans, representing 127-percent growth in mortgage closings
• Ranked first in West Michigan for mortgage originations and 8th in the state among all financial institutions
• Ranked first in the area for auto loans with 14.45 percent of the market share in West Michigan
• Lake Michigan Insurance Agency experienced 138-percent growth over last year
• Implemented new online lending system
• Implemented 24/7 Call Center services

In 2010, LMCU plans to open a new branch in St. Joseph, which is expected to open later this month. The credit union also plans to expand its corporate offices and corporate branch with the purchase of a bank building on Lake Drive.

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