Lake Michigan Credit Union
Quick Summary
- Largest CU in West Michigan
- No monthly fees
- $30/year investment fee
- Load-waived mutual funds
The Verdict
Lake Michigan Credit Union provides essential HSA features with zero monthly maintenance fees and mutual fund investing, earning a 2.5/5.0 rating from HSA Orbit.
When school teacher Lloyd F. Hutt opened the doors of his depression-era home and created a new business, he opened a new chapter in West Michigan banking. Pooling the money of 13 fellow visionary teachers, Hutt created Grand Rapids Teachers Credit Union (GRTCU), which began operations right out of Hutt’s own home. Eighty years later, Hutt would scarcely recognize the expansion of his home-grown company. Decades of steady growth, strategic mergers, and the addition of several major service lines have transformed Hutt’s business in ways he could have never foreseen. Lake Michigan Credit Union (LMCU) is now the largest financial institution headquartered in West Michigan.
Key Features
Banking & Access
Includes debit card, online banking and check-writing.
Investment Options
Offers mutual fund investing.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
No minimum balance to open. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance* | $0.00 | $0.69 | EXCELLENT |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $0.00 | $1.95 | EXCELLENT |
* No monthly, maintenance, or transaction fees
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Mutual Fund Investing
Access mutual fund investments through your HSA with Lake Michigan Credit Union.
- Minimum Threshold$1,000
- FeesSelf-directed: stocks, bonds, mutual funds (incl. Vanguard index funds); 1,000+ selections
Interest Rates
Standard Rates
| Balance Range | APY |
|---|---|
| $0 - $5,000 | 0.25% |
| $5,000 - $16,000 | 0.50% |
| $15,000+ | 1.00% |
Last updated: 01-07-2026
Contact Information
Address
4027 Lake Dr SE Grand Rapids, MI 49546 Customer Service Mailing Address Lake Michigan Credit Union P.O. Box 2848 Grand Rapids, MI 49501-2848
Customer Service
(800) 242-9790
4027 Lake Dr SE Grand Rapids, MI 49546 Customer Service Mailing Address Lake Michigan Credit Union P.O. Box 2848 Grand Rapids, MI 49501-2848
At a Glance
Pros & Cons
The Good
- •No monthly maintenance fees
- •No account opening or closing fees
- •FDIC/NCUA insured deposits
The Bad
- •$1,000 minimum to invest
User Sentiment
Based on community feedback
Sentiment data coming soon
Compare with Related Providers
MassMutual
MassMutual was founded on May 15, 1851. And from the beginning, we’ve had a single purpose: to help people secure their future and protect the ones they love. More than 160 years later, that commitment remains our guiding principle. It’s behind everything we do and every decision we make. It’s how we continue to deliver products and services to help our policyowners and customers achieve their financial goals, and protect those who matter most.
Read Review →KeyBank
Take advantage of tax-free withdrawals with a KeyBank HSA to pay for qualified medical expenses. Managing and tracking expenses is easy and balances carry over year-to-year. Having a Health Savings Account can help you prepare for medical expenses that may become necessary in the future. You can also take advantage of KeyBank online banking and billing for your convenience. It’s your health, so you shouldn’t have to worry about it.
Read Review →PNC
Heads up! PNC does not offer a retail product, individuals cannot currently sign up on their own for a PNC account. PNC has been a leader in creating client-centric health savings accounts since 2004. With advanced technology and detailed focus on employee engagement and education, we are committed to helping our clients manage healthcare costs while delivering an exceptional HSA and benefits spending account experience for their employees. Empower your employees by providing tools to help manage expenses, plan for the future and develop a sense of financial well-being. Mobile access: PNC BeneFit Plus App, Wallet and Learning Fully integrated HSA investment experience Dashboard to track, categorize, and manage expenses Online resources to make informed healthcare purchasing decisions
Read Review →Latest HSA Strategies
View all articlesIneligible HSA Contribution? How to Fix It and Avoid Penalties
Made an ineligible HSA contribution? Learn how to fix excess contributions, avoid the 6% penalty, and handle Form 8889 before the tax deadline.
Why Does Tax Software Say My HSA Contribution Is Taxable?
Your tax software shows HSA contributions as taxable income? Learn why it happens, how to fix it in TurboTax and FreeTaxUSA, and avoid penalties.