An additional 0.10% bonus is available if a member,
has an aggregate sum of $25,000 on deposit with LHCU, is a GAC member with LHCU, or has three of the following services: LHCU Checking, LHCU Debit/ATM Card, LHCU Visa, LHCU Loan, Prime Shares of $2,500 or more, IRA Share or Certificate of Deposit, Certificate of Deposit, or Direct Deposit.
An opening deposit of $25k or more automatically qualifies for the 0.10% bonus.
According to CSR, the Early Withdrawal Penalty for any LHCU CD is 90 days interest.
Headquartered in Saginaw, Michigan, Lake Huron Credit Union’s field of membership (FOM) is primarily residency based, with individuals who live, work, worship, or attend school in the Michigan counties of Bay, Midland, and Saginaw eligible to join, as are members of their immediate family.
While the Who Can Join? page lists other qualifications (such as “Persons who have a State of Michigan drivers license type C (Chauffeur) with CDL”), CSR stated that residency in one of three named counties is required.
There is one exception to the tri-county requirement:
Any person over the age of 55 who receives a retirement annuity, pension, social
security or similar retirement payment from private or government sources and
lives in or belongs to a retirement organization located in the county or in a county
contiguous to the county where the credit union's main office is located.
Those contiguous counties are Genesee, Gratiot, Shiawassee, and Tuscola.
Joining Lake Huron CU and/or opening a CD Special must be done in person at any of two Michigan branches, both located in Saginaw.
Credit Union Overview
Lake Huron Credit Union (NCUA Charter # 61638) has an overall health grade of "B" at DepositAccounts.com, with a Texas ratio of 10.33% (excellent) based on June 30, 2016 data. In the past year, LHCU has increased its total deposits by $2.45 million, an excellent annual growth rate of 6.34%. Please refer to our financial overview of Lake Huron Credit Union for more details.
Lake Huron Credit Union was originally chartered in 1959 as the Teamster's Local 486 Credit Union. A 1986 merger with Tri County Automotive Credit Union expanded the FOM to include employees of local automobile dealerships, repair garages, and part distributors. A community charter was adopted several years later, opening membership to residents of the Tri-County area.
How the CD Specials Compare
When compared to the 227 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Lake Huron Credit Union’s 60-Month Bonus CD Special and 60-Month CD Special currently rank first and second, respectively.
When compared to the 253 similar length-of-term CDs tracked by DepositAccounts.com that are available within the FOM, Lake Huron Credit Union’s 37-Month Bonus CD Special and 60-Month CD Special currently rank first and third, respectively.
The above rates are accurate as of 11/4/2016.