# LAKE MICHIGAN
Grand Rapids, MI · NCUA charter 62514 · asset band >$10B · latest filing 2026-03 · live
Share link (named URL with a preview card): https://getbookiq.com/cu/lake-michigan-62514

Who the members are: state charter, organized 1933, low-income designated. 530,662 members of 33,491,579 potential (1.6% of the field); checking penetration 83% (share draft accounts per 100 members); loans per 100 members 55.

**Verdict on the desk:** this could be *ordinary*. Composite score 1 of 18 (one point per flag across 17 flags, capital below 7% counted twice).

## What the filing shows

| Measure | Value |
|---|---|
| Total assets | $16.86B |
| Members | 530,662 (5.5% YoY) |
| Full-time staff | 1724 |
| Net worth | $1.90B |
| Net worth ratio | 11.3% (p71 of band) |
| ROA (annualized) | 1.28% (p79 of band) |
| Total delinquency | 0.43% (p21 of band) |
| Net charge-offs (annualized) | 0.16% (p4 of band) |
| Loans / shares | 93% (p79 of band) |
| Cash / assets | 13.7% |
| Borrowings / assets | 2.67% |
| Net interest margin | 2.52% (p12 of band) |
| Operating expense / assets | 2.19% (p29 of band) |
| Vehicles % of loans | 8% (p12 of band) |
| Indirect vehicle % of vehicle (all-channel basis before 2022) | 71% |
| Third-party paper % of net worth | 44% (p17 of band) |
| Vehicle delinquency | 0.83% (p50 of band) |
| Vehicle NCO | 1.33% (p50 of band) |
| Repossessed % of vehicle book | 0.02% (p25 of band) |
| Real estate % of loans | 68% |
| Credit cards % of loans | 2% |
| Unsecured % of loans | 3% |
| Commercial % of net worth | 113% |
| Core shares % of member funds | 34% |
| Certificates % of member funds | 29% |
| Average share balance | $10,349 |
| Participations bought / yr | $0 |
| Participations sold / yr | $374.6M |
| Participations outstanding | $50.0M |
| Loans outstanding per 100 members | 55% |
| Loans granted per 100 members, annualized | 12% |
| Average loan balance | $45,597 |
| Loans granted, annualized | $5.74B |

## Participation posture (from the same filings)

Bought $0 and sold $374.6M in the latest annualized quarter; $50.0M outstanding purchased (2.6% of net worth), $183.0M sold and retained. Sold in 8 and bought in 6 of the last 8 quarters. Shares 14.9% year over year.

## Flags firing in the latest filing

- **net worth falling** (`cap_falling`)

## Warning timeline

| Quarter | Score | Flags that first fired | Flags that cleared |
|---|---|---|---|
| 2016-03 | 1 | leaning on borrowings |  |
| 2016-06 | 1 |  |  |
| 2016-09 | 1 |  |  |
| 2016-12 | 1 |  |  |
| 2017-03 | 1 |  |  |
| 2017-06 | 1 |  |  |
| 2017-09 | 1 |  |  |
| 2017-12 | 2 | loans>95% of shares |  |
| 2018-03 | 1 |  | loans>95% of shares |
| 2018-06 | 3 | net worth falling, loans>95% of shares |  |
| 2018-09 | 2 |  | net worth falling |
| 2018-12 | 2 |  |  |
| 2019-03 | 2 |  |  |
| 2019-06 | 2 |  |  |
| 2019-09 | 2 |  |  |
| 2019-12 | 1 |  | loans>95% of shares |
| 2020-03 | 3 | net worth falling, delinquency rising |  |
| 2020-06 | 2 | margin squeeze | leaning on borrowings, delinquency rising |
| 2020-09 | 1 |  | net worth falling |
| 2020-12 | 1 |  |  |
| 2021-03 | 1 | net worth falling | margin squeeze |
| 2021-06 | 1 |  |  |
| 2021-09 | 0 |  | net worth falling |
| 2021-12 | 0 |  |  |
| 2022-03 | 1 | net worth falling |  |
| 2022-06 | 0 |  | net worth falling |
| 2022-09 | 0 |  |  |
| 2022-12 | 1 | loans>95% of shares |  |
| 2023-03 | 1 |  |  |
| 2023-06 | 1 |  |  |
| 2023-09 | 2 | delinquency rising |  |
| 2023-12 | 2 |  |  |
| 2024-03 | 3 | net worth falling |  |
| 2024-06 | 3 |  |  |
| 2024-09 | 2 |  | net worth falling |
| 2024-12 | 1 |  | delinquency rising |
| 2025-03 | 1 |  |  |
| 2025-06 | 1 |  |  |
| 2025-09 | 1 |  |  |
| 2025-12 | 1 |  |  |
| 2026-03 | 1 | net worth falling | loans>95% of shares |

## In the news (Google News, unfiltered, newest first; check the city)

- 2026-06-29 [Lake Michigan Credit Union CD Rates - SmartAsset](https://news.google.com/rss/articles/CBMigAFBVV95cUxOa0lCTjcwTjQ4bXIwQkRNYUdyckhwRXVORHFOcVJCS0labmdnRFZ5MEM2d2NJaUVlQnNqbUZFNmRWaDNMN2VJSFBHMTZwRk9paG9SZkZvQldiNXFyU0NxWnpnZHNueXFQT2RyNjgydzhvNDB5UENxam9mWUI1b1UwTg?oc=5) · SmartAsset
- 2025-10-20 [Suspect escapes with cash in Grand Rapids credit union robbery - wwmt.com](https://news.google.com/rss/articles/CBMi8gFBVV95cUxOODgzekVQcl9pQ3c0bWlNUjlSUEkxdENTMWtzc2ZVZTRqcFYxQnlBdEFHendoeXQ1ZU1JZ2VkVU1lMGl5blJ6S2tWOTdKdzQyenFjZXpHVFhjNUNWeWZURnpoMHFHUkdlOGwxUC0xOFNDZUNTUVJsYkRFQTh3N2hfZDVhZlhDVjRkbjI2U2hIQ2JROEViazdHaFE3cEJvbHNxamN1UkdNTWswLTl6czRzRlZUQzcxbUxaZExxMnlZUTdib1VKQ1YyVjhFaWNtSml1ZzV3OV9kVGZmNE9WbXh0NldQb1gwRnkzMTlXXzB4bjJkdw?oc=5) · wwmt.com
- 2025-10-21 [Grand Rapids credit union robbery suspect arrested - FOX 17 West Michigan News](https://news.google.com/rss/articles/CBMiqwFBVV95cUxPaXhmbi1ad2VlOTNnSWZONzlTNnBGY1BEV0p3OWhJaXZUdTBTaVVhdW1oaTVWVko0d2tyeUVYRU0wbnJpcVRmcnlQWEw2QWg2dGc1VFpMWlBWZmROWldJMGl0UWNybEFZVkZ3eFljLWlaM1EzZFBTLXY0NXhNeXplZ29Wc2JpVVdWdDBPSDllbWxvX05FNEtocEs5c2djZWhQaV9UZTR1N1dyNEU?oc=5) · FOX 17 West Michigan News
- 2025-10-20 [No one caught after bank robbery in Grand Rapids - WZZM13.com](https://news.google.com/rss/articles/CBMixgFBVV95cUxQXy03ZW9qRUt2c2p2bF9QTkYzakpJZ3lTTVFlY0xjaGpZNjI3OGZ0bUx0WUwzZ2pYRHN5dHk2VUxjU181Y3JPSG1hN0pSNGxOQmZNdUt3MS1NN2s2NTE5eThfUmN1cGVzY0t2WFpyOGFDbmh0UTBBaGZpNEliY2pFcmxHSWtYVWxKZmVOWDM5bVZLcGVQYUtOcEVoeU9HYnBFYXlWQ243XzhraThuSHItODdxbDhNU2hoSnJXcko3Z3YyNkdWV2c?oc=5) · WZZM13.com
- 2025-11-18 [Davenport appoints CEO of Lake Michigan Credit Union to its board - Davenport University](https://news.google.com/rss/articles/CBMipgFBVV95cUxOWEdTcWEyRWZqeFpSc0JmemI0SFZ2ZzEteXpycGNKTWNvRmlsZDFkcmdPSzlHOFh4RUl5NjM4eEtGOGhpYWN4ZG50ZjA0WW90bVdIWlUxeWR4Ym11OHdzZ2JuTjlEVXE4TTRhS1BUMmpaRnBtMlU5TkVoT2U1ZDljWFVmRjA0UWw0a2toUEdXSG04cTZsZkhGakVpYy1yWXp2c2NPVlFB?oc=5) · Davenport University
- 2022-03-16 [Lake Michigan Credit Union announces Plainfield Avenue, Grand Rapids, MI branch grand opening - CUInsight](https://news.google.com/rss/articles/CBMizAFBVV95cUxNVndsU05PZlhtZWJ2MEFuQVhvQTUxdV84bzhIVk5ma1ctamEwOHJuakNjYTJxWm1zWURFWnRYM051YVFhMDIyNzhmNlhoU2lfOERuR3p3cTBoUWlPZ3VhTGJiUW56MGJlSkVUVEdiNXFqRE0xekpfQ1ZKQ2dnUXFKMUprUmxWZFJBeEpTU25ieGdnN0VFOFRsODVFNl9ZbXlDM2duaXdwZ3JOVUQ4V2pWQ1k3UWowbFVteG1lYzJYMzlKSHQ2ZWpoR3BJbmo?oc=5) · CUInsight
- 2025-08-11 [The District Detroit Welcomes Lake Michigan Credit Union to 2715 Woodward - Ilitch Companies News Hub](https://news.google.com/rss/articles/CBMirAFBVV95cUxPd2lQR1p4MzFTd0xhc3lBckpwRWxkaUlXRDViSUtlbk55d2ZEaTA0MEJxNS1WekxjZzNVLW91Qm9EaW8tNVQ2QUdaTWtBWDlKT3dmSTJGcmxHWk1nSno0VG0yQlJnYkN5SDBIZXhlZUluSU5xa3dSNDdISUhDZndjeUVBeERWeFJ4NDRuWl9DMmgwcEcxQzk4UWdmeUVRZnR6VmtuMjFDSkN5ejZK?oc=5) · Ilitch Companies News Hub
- 2022-12-12 [Workers at one Lake Michigan Credit Union branch are unionizing - MLive.com](https://news.google.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?oc=5) · MLive.com

## How to verify

- Page: https://getbookiq.com/cu-intel/#cu=62514 (every cell opens its formula and NCUA account codes; the News tab is the same search)
- Latest row, JSON: https://getbookiq.com/cu-intel/data/summary.json · history: https://getbookiq.com/cu-intel/data/h/50.json (key "62514", columns cycle, assets, loans, shares, networth, nwr, roa, total_dq_pct, total_nco_pct, vehicle, veh_pct_loans, indirect, ind_pct_veh, ind_veh, ind_re, ind_comm, ind_other, ind_pct_loans, loans_n, granted_n_ytd, granted_ann, loan_pen, granted_pen, avg_loan_bal, loans_per_fte, veh_part, tp_pct_nw, veh_dq_pct, veh_nco_pct, repo_pct_veh, members_yoy, ltos, cash_pct, borrow_pct, nim_pct, opex_pct, risk_score, members, fte, cash_total, invest_sec, allowance_eff, int_income_ytd, int_exp_ytd, provision_eff_ytd, nonint_income_ytd, nonint_exp_ytd, net_income_ytd, n_flags, re_pct_loans, cc_pct_loans, comm_pct_loans, cert_pct_shares, core_pct_shares, part_buy_ann, part_sell_ann, pot_members, sh_draft_n, chk_pen, fom_pen, flags)
- Participation history: https://getbookiq.com/participation-desk/#cu=62514
- Field definitions: https://getbookiq.com/dictionary/#cu-ltos and the rest of the credit union dictionary
- Source: NCUA 5300 call report bulk files. Income fields are annualized by cycle month (Mar x4, Jun x2, Sep x4/3, Dec x1). Percentiles are within the asset band in the same quarter.

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Rendered 2026-09-10 from the desks' own data files. Full guide: https://getbookiq.com/guide