Did you find a better rate and/or term for your loan somewhere else? The credit union always tries to offer the best rates and terms but we know many institutions run "specials" or "deals" that are hard to beat.
Be sure to check with your credit union before signing on the dotted line! We can, in most cases, match the rate and term you are being offered elsewhere. You can keep your business at your credit union.
Receive lower interest rate with automatic loan payments.
If you are receiving a new loan at Lakeshore Federal Credit Union, you may be eligible for a lower rate. By having your monthly payment automatically deducted from your account, payroll deducted, or sent through ACH (Automated Clearing House), you can receive a .25% rate reduction on your loan.
Automatic payments are not only more convenient for you but now they can save you money too!
Lakeshore Federal Credit Union offers several types of real estate loans. You can choose from:
Our Home Equity loans are a great way to take advantage of the equity you have in your home. You can use the equity in your primary residence or seasonal home as security. You may borrow up to 90% of the combined loan to value with an appraisal* or 80% using the state equalized value. The credit union covers all closing costs such as title insurance and closing and filing fees.
To get started, submit your application and the following documents:
The benefits are numerous when considering a Home Equity loan. The interest you pay on these loans may also be tax deductible. You'll agree that a Home Equity loan makes good financial sense.
Contact us to get started with your Home Equity loan or mortgage loan today!
*Appraisals must be performed within the last two years. Applicants are responsible for any costs incurred in obtaining an appraisal.
Lock in your rate with our Home Equity Fixed Rate loan. Your rate is guaranteed for the life of the loan so you never have to worry about the rate or your payments changing.
If you are considering purchasing a vehicle or other large ticket item, remodeling or putting an addition on your home, a Home Equity Fixed Rate loan may be the perfect solution for your financing needs. If you don't foresee a need to borrow again in the near future, you should consider this type of loan. You may add-on to your loan at any time but you may have closing costs involved.
Whatever the purpose - remodeling your home, going on vacation, or consolidating your bills, a Home Equity Line of Credit is the way to go. Once you have your Home Equity Line of Credit loan, you can borrow against it at any time, for whatever you need. It's as simple as making a withdrawal or writing a check.
Home Equity Line of Credit loans are offered at a variable rate of interest. The interest rate is reviewed each month and will match the prime rate. You can borrow against your loan for 2 years without updating your application.
Since your balance may change from month to month as you borrow against your loan, your term and payment will also change. The following range is used to determine the term of your loan:
You will receive a free order of checks when you receive your loan and you can also access your loan by phone, online, through an ATM or at the credit union office. Borrowing has never been more convenient.
Lakeshore Federal Credit Union provides our members with one of the most competitive and diverse mortgage programs available. We'll be happy to compare our rates and terms against anyone's. It's important to have an expert analyze your particular home financing needs to make sure you end up with the most advantageous loan type possible. In addition to many specialty programs to fit unusual needs, all of the following loan types are available at the credit union for either your purchase or refinance transactions:
You can see that with the wide range of mortgage products offered, there is one that meets your needs. If you are considering building or purchasing a home or refinancing your present mortgage, be sure to check with the credit union first.
Loans are available to Lakeshore Federal Credit Union members when they pledge their shares or certificates of deposit as collateral. If you would rather borrow funds than withdraw them, try a pledged share loan. It's a great way to establish credit and receive a low-interest loan.
When you borrow dollar for dollar share secured, you only pay 2% over the rate you are receiving on your shares or certificate. If you use a certificate of deposit as collateral, the term of the loan cannot exceed the maturity date of that certificate.
Your shares will automatically be released as the loan balance declines. They are available for withdrawal whenever you need.
The credit union offers the following types of unsecured loans:
This type of loan offers members a fixed rate loan for up to 36 months at 12.25% APR. Your credit limit is set when you initially apply for the loan. You can add on to the loan as long as you remain within your signature limit. If you choose to have your loan payments automatically deducted, you are eligible to receive a .25% rate reduction.
By having an open-end line of credit loan, you can add on to your loan by writing a check, receiving cash or check at the credit union office, over the phone, at an ATM or online. You will receive a FREE order of checks when you open your loan. This type of loan offers members the most convenient way to borrow. Qualified applicants are able to borrow on their loan for 24 months before they need to update their application.
The interest rate for this type of loan is 10.90% APR and the payments are figured on the current balance. Your repayment is $3.00 for every $100 you have borrowed with a minimum of $30.00 per month.
If you have a checking account with Lakeshore Federal Credit Union, you should ask about getting overdraft protection. Whether you make a mistake in your check register or you just simply need to write a check and you don't have the funds in your account to cover it, your overdraft protection loan kicks in automatically. Your check is covered so you won't have to face the embarrassment of bouncing a check, pay any fees associated with a returned check or possibly have your name placed on a "bad check list".
Qualified members can borrow up to $1,000.00 against their overdraft protection at 18.00% APR with a low monthly payment of $30.00. You are able to payoff the balance at any time, with no penalty. Advances for your loan are available for 24 months before updating your application. Since the overdraft protection loan is like a line-of-credit loan, you can also add on to the loan over the phone, online, or at an ATM.
Never worry about bouncing another check and apply for your overdraft protection loan now!
We now offer payday advancement loans called StretchPay Loans. Stretchpay is a special loan program designed to help you when you need a small dollar loan to help carry you over until you receive your next regularly scheduled paycheck. Our special line-of-credit loan is designed to make it easy and less expensive for you to obtain affordable, short term credit.
The credit union offers VISA Classic and Platinum credit cards to qualifying members with the following features:
If you are tired of paying high interest credit cards, transfer the balances over to your credit union Visa. We will be happy to help. Just bring in your statements and we will take care of the rest.
A Lakeshore Federal Credit Union Visa allows you access to funds and purchases whenever and wherever you travel. Apply for yours today!
If your card is lost or stolen, call:
Office Hours Monday-Friday 8:30 a.m. - 5:00 p.m. Saturday Drive Thru 9:00 a.m. - Noon
Phone: 231-755-1202 Fax: 231-755-0539 Toll Free: 1-800-330-6499
Email: operations@lakeshorefcu.com
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
Equal Housing Lender
.jpg)
Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.
Equal Housing Lender