GRAND RAPIDS, MI
4 risk indicators measuring financial stability and operational resilience
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Sign In — Free (10 views/day)CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 48 LAKE MICHIGAN CREDIT UNION, founded in 1933, is a major nonprofit that reported $918.2M in total revenue in fiscal year 2025. Revenue grew 11% year-over-year, indicating healthy expansion. The organization ran a surplus of $208.2M, a strong 23% operating margin.
PROMOTION OF THRIFT AND PROVIDING LOW COST CREDIT AND OTHER FINANCIAL SERVICES FOR ITS MEMBERS THROUGH MUTUAL AND NONPROFIT ORGANIZATION.
LAKE MICHIGAN CREDIT UNION OFFERS NUMEROUS LOAN PRODUCTS TO MEET ITS MEMBERS' NEEDS. AS OF DECEMBER 31, 2025, THE CREDIT UNION HAD APPROXIMATELY 290,500 OUTSTANDING LOANS TO MEMBERS THAT AGGREGATED...
LAKE MICHIGAN CREDIT UNION OFFERS NUMEROUS LOAN PRODUCTS TO MEET ITS MEMBERS' NEEDS. AS OF DECEMBER 31, 2025, THE CREDIT UNION HAD APPROXIMATELY 290,500 OUTSTANDING LOANS TO MEMBERS THAT AGGREGATED APPROXIMATELY $13,178,913,000. LOAN PRODUCTS INCLUDE AUTOMOBILE, RESIDENTIAL MORTGAGE, COMMERCIAL MORTGAGE, CREDIT CARD AND PERSONAL LOANS.
LAKE MICHIGAN CREDIT UNION HAS OVER 1,362,000 DEPOSIT ACCOUNTS THAT AGGREGATED APPROXIMATELY $13,562,854,000 AS OF DECEMBER 31, 2025. DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET...
LAKE MICHIGAN CREDIT UNION HAS OVER 1,362,000 DEPOSIT ACCOUNTS THAT AGGREGATED APPROXIMATELY $13,562,854,000 AS OF DECEMBER 31, 2025. DEPOSIT PRODUCTS INCLUDE SAVINGS, CHECKING, MONEY MARKET, INDIVIDUAL RETIREMENT ACCOUNTS AND CERTIFICATES.
LAKE MICHIGAN CREDIT UNION OFFERS A WIDE VARIETY OF SERVICES TO ITS MORE THAN 523,000 MEMBERS INCLUDING, BUT NOT LIMITED TO, ONLINE BANKING, MOBILE BANKING, WIRE SERVICES, OVERDRAFT PROTECTION AND...
LAKE MICHIGAN CREDIT UNION OFFERS A WIDE VARIETY OF SERVICES TO ITS MORE THAN 523,000 MEMBERS INCLUDING, BUT NOT LIMITED TO, ONLINE BANKING, MOBILE BANKING, WIRE SERVICES, OVERDRAFT PROTECTION AND DIGITAL WALLET.
Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency
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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)
Sign In — Free (10 views/day)| 2025 | 2024 | Change | |
|---|---|---|---|
| Revenue | $918,222,007 | $829,413,442 | +0.1% |
| Expenses | $710,071,392 | $680,152,586 | +0.0% |
| Net Income | $208,150,615 | $149,260,856 | +0.4% |
Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics
Financial Distress Indicator
Liquidity & Cash Position
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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics
Sign In| Name | Title | Hours/Week | Role | Reportable Comp | Other Comp | Total |
|---|---|---|---|---|---|---|
| BRAD MATHIS | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| TIMOTHY MYERS | BOARD SECRETARY | 1.00 |
Director
|
$0 | $0 | $0 |
| JACK NEWBERRY | DIRECTOR | 1.00 |
Director
|
$927 | $0 | $927 |
| JUAN OLIVAREZ | BOARD VICE CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| BOB PARTRIDGE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| MIKE RICE | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| GRETCHEN TELLMAN-PARTRIDGE | BOARD CHAIRPERSON | 1.00 |
Director
|
$0 | $0 | $0 |
| BOB WHITE | DIRECTOR | 1.00 |
Director
|
$927 | $0 | $927 |
| DAVE BARDOLPH | BOARD TREASURER | 1.00 |
Director
|
$0 | $0 | $0 |
| TIM GORTSEMA | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| CAITLIN TOWNSEND-LAMB | DIRECTOR | 1.00 |
Director
|
$0 | $0 | $0 |
| CHRISTI COWDIN | CMO | 40.00 |
Officer
|
$330,328 | $7,788 | $338,116 |
| CHRISTOPHER ORTEGA | CIO | 40.00 |
Officer
|
$475,324 | $13,594 | $488,918 |
| JULIE LEONARD | CEO | 40.00 |
Officer
|
$1,876,735 | $24,763 | $1,901,498 |
| ERIC BURGOON | CHIEF EXPERIENCE | 40.00 |
Officer
|
$927,596 | $25,347 | $952,943 |
| SARAH MIKLUSICAK | CPO | 40.00 |
Key Emp
|
$284,973 | $7,212 | $292,185 |
| MARTIN PELTIER | CGO | 40.00 |
Key Emp
|
$394,791 | $25,644 | $420,435 |
| JAMES MASKELL | SVP CCO | 40.00 |
Key Emp
|
$509,544 | $26,917 | $536,461 |
| MARK POWELL | SVP CRO | 40.00 |
Key Emp
|
$512,982 | $15,667 | $528,649 |
| SARA KEMPERMAN | SVP COO | 40.00 |
Key Emp
|
$562,495 | $16,557 | $579,052 |
| PETER DANN | EVP CFO | 40.00 |
Key Emp
|
$810,170 | $27,012 | $837,182 |
| KAYLEE RAFFA | CSG | 40.00 |
Key Emp
|
$199,601 | $13,089 | $212,690 |
| MATTHEW ADLER | MORTGAGE LOAN ORIGINATOR | 40.00 |
Highest
|
$1,645,929 | $23,262 | $1,669,191 |
| ZAC ELLERBROEK | MORTGAGE LOAN ORIGINATOR | 40.00 |
Highest
|
$1,365,209 | $17,838 | $1,383,047 |
| EMIL IZRAILOV | MORTGAGE SALES MANAGER FH | 40.00 |
Highest
|
$934,271 | $18,193 | $952,464 |
| LUTHER TROOK | MORTGAGE LOAN ORIGINATOR | 40.00 |
Highest
|
$796,311 | $20,798 | $817,109 |
| JASON RYBA | VP REGIONAL MTG PRODUCTION | 40.00 |
Highest
|
$691,254 | $24,763 | $716,017 |
| Year | Revenue | Expenses | Assets | Net Income |
|---|---|---|---|---|
| 2025 | $918,222,007 | $710,071,392 | $15,952,719,108 | $208,150,615 |
| 2024 | No data | No data | No data | No data |
| 2023 | $692,047,277 | $519,826,803 | $13,371,002,258 | $172,220,474 |
| 2022 | $520,341,837 | $350,744,589 | $11,905,975,667 | $169,597,248 |
| 2021 | $490,221,594 | $333,217,740 | $11,670,748,024 | $157,003,854 |
| 2020 | $495,848,275 | $331,329,406 | $9,236,003,182 | $164,518,869 |
Compare CREDIT UNIONS CHARTERED IN THE STATE OF MICHIGAN 48 LAKE MICHIGAN CREDIT UNION with other nonprofits in Michigan and across the country.