Lake Michigan CU
Michigan's largest credit union founded in 1933, serving over 500,000 members with personal and business banking, mortgages, loans, investments, and commercial services across Michigan and Florida
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Data source: SBA 7(a) FOIA loan-level data, covering activity through June 30, 2026 across the trailing 3 years (6 loan records for this lender). Refreshed quarterly from public loan-level records; figures are not supplied or reviewed by the lender.
Lake Michigan CU ranks #206 of 564 SBA 7(a) lenders nationally by acquisition-loan volume.
Most of Lake Michigan CU’s 7(a) acquisition lending falls in the $1M-$2M range: 3 loans, 50.0% of the portfolio.
| Loan size | Share of loans | Loans | % of portfolio |
|---|---|---|---|
| $0-$500K | 1 | 16.7% | |
| $500K-$1M | 2 | 33.3% | |
| $1M-$2M | 3 | 50.0% |
Industries with highest loan volume
Limited-Service Restaurants
1
loans
$1.9M
avg. amount
Offices of Chiropractors
1
loans
$563K
avg. amount
Full-Service Restaurants
1
loans
$1.0M
avg. amount
Other Personal and Household Goods Repair and Maintenance
1
loans
$957K
avg. amount
Sign Manufacturing
1
loans
$1.7M
avg. amount
Janitorial Services
1
loans
$116K
avg. amount
10-Year
4.0%
Percentile Ranking
94th
94th percentile
Lake Michigan CU’s median variable rate is + 2.75%, against a market median of Prime + 1.88%, 88 above market.
It priced below the market median in 0 of the last 3 quarters.
| Loan Size | Avg Rate |
|---|---|
| $0-$500K | Prime + 3.00% |
| $500K-$1M | Prime + 2.88% |
| $1M-$2M | Prime + 1.63% |
| Quarter | This lender | Market median | Market range | Loans |
|---|---|---|---|---|
| Q1 '21 | Prime + 2.75% | Prime + 2.25% | Prime + 1.75% – Prime + 2.75% | 4 |
| Q2 '21 | Prime + 2.75% | Prime + 2.25% | Prime + 1.75% – Prime + 2.75% | 3 |
| Q3 '21 | Prime + 2.50% | Prime + 2.00% | Prime + 1.50% – Prime + 2.50% | 7 |
Lake Michigan CU has originated 7(a) acquisition loans in 2 states, most actively in Michigan (4) and Florida (2). Darker states on the map carry more volume.
| State | Loans | % of Total |
|---|---|---|
| Michigan | 4 | 66.7% |
| Florida | 2 | 33.3% |
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