From ‘Mitten’ to Sunshine State

LMCU is rated the #1 credit union in Florida for member value by Callahan & Associates, March 2024. LMCU / COURTESY PHOTOS

Robert D’Amore does not live in Michigan, but he has been a customer of Lake Michigan Credit Union for eight years. He chose the financial institution because there is a convenient branch near his home in Naples. He stayed because of the customer service.

“It’s a little bit of a throwback to the old days, where they care about you and you’re not just a number,” he says.

He appreciates the longevity of the staff – the customer service representative he initially worked with, Rami Nahhas, is now the branch manager – as well as the way they remember details about what is going on in his life.

David Greenwald moved about 15 business and personal accounts to LMCU because the fees are lower than at his previous bank and because “their customer service and loyalty have been just amazing.”

Another customer, H.L. Burkley, agrees with that sentiment. “I never thought I would have a personal relationship with a bank, but everybody at Lake Michigan is absolutely amazing. They know your name, ask how they can help and are very family-focused.”

LMCU is the presenting sponsor of the Boys & Girls Clubs of Lee County Youth of the Year scholarship, recognizing youths showing exceptional leadership, service and academic prowess.

Established in 1933, LMCU is the largest credit union in Michigan and 14th largest in the country, with more than 600,000 members and assets exceeding $13 billion.

LMCU entered the Florida market – its only operations outside of Michigan – in 2015 and today has more than 20 branches stretching from Naples to the Tampa Bay area.

“There’s a lot of kinship between Michigan and Florida, because a lot of Michiganders vacation or spend months in Florida,” says Christi Cowdin, chief marketing officer and senior vice president of marketing. “We are committed to our members for a lifetime, and because the connection between Michigan and Florida was so strong, it made sense for us to come here.”

LMCU opened its first Florida location in Fort Myers followed by a Naples branch. Part of their expansion came when LMCU acquired Encore Bank in 2018.

Cowdin says LMCU continues to expand in Florida because “our member benefits really resonate with people.” A credit union’s benefits can include lower interest rates and higher savings rates, because credit unions are non-profit organizations that are not beholden to shareholders. Most credit unions offer the same products and services as banks.

COWDIN

Cowdin has worked at LMCU for five years and in the industry for 25. She was recently promoted to her new role after the retirement of Don Bratt, who worked for 14 years with the credit union and 43 years overall in marketing.

Bratt’s accomplishments include developing a media production team responsible for LMCU’s television commercials and video communications. He also launched the $50,000 Home Makeover Sweepstakes, now in its 11th year that annually receives more than 1 million entries.

“Don was very influential for where we are today,” Cowdin says. “He had a passion for making sure our members understood our products and how we could help them.”

TURNER

Cowdin developed a member stories campaign where credit union members discuss what they like best about LMCU or their favorite credit union product.

“We communicate with our marketing that we’re not just a financial institution,” says Cowdin. “We’re here to help and support you through your financial journey.”

LMCU supports the communities where it operates. Fort Myers-based District Manager Bill Turner says LMCU provides financial support and volunteers to organizations such as March of Dimes, Naples Players, Champions for Learning, FGCU, Lee Health, and the Estero Chamber of Commerce.

The credit union makes Roots in Education teacher grants, most recently to Analiz Perez at Fun Time Academy in Naples and Heidi Strand at Charlotte Harbor School in Punta Gorda.

Turner notes that staff members get paid time off to do volunteer projects during work hours.

In addition, LMCU has a Community Advisory Board (CAB) comprised of members – including Burkley – who identify potential gaps or enhancements in products or services that could help improve the financial lives of people in the credit union’s market areas.

COOK

According to Matt Cook, vice president of community relations, in 2023 the CAB provided recommendations for ways LMCU could create homeownership opportunities for minorities and persons of color, populations that historically lag in homeownership statistics relative to their percentage of the population.

To that end, LMCU conducts financial wellness and homebuyer education seminars that are open to the public and goes to schools to teach the next generation how to manage money.

“Our members are the most important part of what we do,” Turner says. “We owe our communities everything, which is why we give back. ¦

In the KNOW

LMCU membership is open to those who meet at least one of the following criteria:

¦ Persons who live, work, or worship anywhere in Michigan’s lower peninsula or anywhere in Florida

¦ Persons who are an immediate family member of any LMCU member – father, mother, brother, sister, son, daughter, grandmother, grandfather, or spouse – regardless of their state or county of residency

¦ Persons residing outside of Michigan or Florida, who would like to contribute $5 to the ALS (Amyotrophic Lateral Sclerosis) Foundation

Lake Michigan Credit Union locations:

· 3003 Tamiami Trail N #100, Naples

· 2370 Vanderbilt Beach Road, Naples

· 8635 Collier Blvd., Naples

· 7405 Devonshire Blvd., Naples

· 2470 Immokalee Road, Naples

· 4450 Bonita Beach Road #15, Bonita Springs

· 21910 S. Tamiami Trail, Estero

· 7920 Summerlin Lakes Dr., Fort Myers

· 17830 Ben Hill Griffin Pkwy., Fort Myers

· 7580 Winkler Road, Fort Myers

· 530 Cape Coral Parkway East, Cape Coral

· 2120 Kings Highway, Port Charlotte

· 1790 Main St., Sarasota

· Also: Tampa, Lakeland, St. Petersburg, Sun City Center

· Coming soon: Cape Coral branch on Del Prado

The post From ‘Mitten’ to Sunshine State first appeared on Bonita Springs Florida Weekly .