A wider lead at home
Its Grand Rapids share rose from 20.1% to 22.1%, well ahead of United Wholesale Mortgage. In Cape Coral-Fort Myers, entered in 2012, its share slipped from 2.7% to 2.4%, which could reflect competition from national lenders.
Applications / Mortgage Analytics / Lenders / Michigan / Lake Michigan Credit Union
Lake Michigan Credit Union
Caledonia, MI · Credit union · NCUA · $16.0 billion assets · 14,279 loans in 2025
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14,279
loans originated, 2025
18,732
applications, 2025
13
states and territories
0
gaps bigger than at similar lenders
Our analysis, 2025
Lake Michigan Credit Union grew 17% in 2025, faster than the whole market's 10%, and widened its lead in Grand Rapids, where it is first with 22.1% of lending.
Bigger loans than similar credit unions
Against similar lenders, credit unions making between half and twice as many loans, its typical loan of $215,000 is the largest, against $130,000. Jumbo loans (larger than the conforming limit) are 6.4% of its lending, against 1.8%, higher than nearly nine in ten.
Few denials
It turned down 2.9% of first-lien home-purchase applications on owner-occupied homes, against 8.1% for similar lenders, lower than more than three-quarters of them, and 6.9% of refinance applications, the lowest among them, against 18.4%.
Lower shares in LMI and majority-minority areas
Loans in LMI (low- and moderate-income) areas were 11.7%, lower than more than three-quarters of similar lenders, and in majority-minority areas 7.0%, lower than about two-thirds; both rose from 8.2% and 2.6% in 2020. Its lending centres on Grand Rapids and non-metro Michigan, and the neighbourhoods in those markets may explain much of this.
Questions the data can answer next
- Which Grand Rapids tracts gave it its share gain?
- Who gained the share it lost in Cape Coral-Fort Myers?
Similar lenders: same lender type, originations between half and twice the lender's in the data year. Written from the 2025 HMDA data and checked figure by figure against it.
FIG. 1 — LOANS ORIGINATED, 2018–2025
14,279 loans in 2025, against a peak of 26,550 in 2020.
Originated means the loan was made: applications denied, withdrawn or not accepted are not counted. Lake Michigan Credit Union took 18,732 applications in 2025.
SOURCE: FFIEC HMDA, LOANS ORIGINATED (ACTION TAKEN: LOAN ORIGINATED)
FIG. 2 — PRODUCT MIX, 2025
54.6% of its 2025 loans were purchase loans; 97.2% were Conventional.
Purchase 54.6% · Home improvement 19.9% · Refinance 16.8% · Other 8.7% · Not applicable 0.0%
Conventional 97.2% · FHA 2.0% · VA 0.8% · USDA (RHS or FSA) 0.1% · of 14,279 loans. Purchase: buying a home. Refinance: replacing an existing mortgage, including cash-out. FHA: insured by the Federal Housing Administration. VA: guaranteed by the Department of Veterans Affairs. Conventional: neither.
SOURCE: FFIEC HMDA 2025, LOANS ORIGINATED
Where it lends, 2025
13 states, 83 metros, 200 counties
| State | Loans | Share |
|---|---|---|
| Michigan | 12,864 | 90.1% |
| Florida | 1,196 | 8.4% |
| Ohio | 66 | 0.5% |
| Illinois | 61 | 0.4% |
| Indiana | 47 | 0.3% |
| Wisconsin | 33 | 0.2% |
| South Carolina | 3 | 0.0% |
| Tennessee | 3 | 0.0% |
| Minnesota | 2 | 0.0% |
| North Carolina | 1 | 0.0% |
Largest metro areas, 2025
Loans originated
| Metro area | Loans |
|---|---|
| Grand Rapids-Wyoming-Kentwood | 6,694 |
| Warren-Troy-Farmington Hills | 1,629 |
| Muskegon-Norton Shores | 788 |
| Kalamazoo-Portage | 614 |
| Detroit-Dearborn-Livonia | 451 |
| Cape Coral-Fort Myers | 444 |
| Traverse City | 395 |
| Ann Arbor | 327 |
| Naples-Marco Island | 277 |
| Flint | 192 |
Identifiers
| LEI (Legal Entity Identifier, the global company code HMDA has used since 2018) | 549300YB1H2FRI6JPM51 | 2018–2025 |
| RSSD (the Federal Reserve's identifier for banks and their parents) | 651596 | 2004–2023 |
| Respondent ID (the HMDA filer code before 2018) | 562514 | 1990–2017 |
Established 1 January 1933. Reported under HMDA 1990-2025.
Mergers, name changes, data editions and corrections: Lake Michigan Credit Union's data.
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