LAFCU is headquartered in Lansing and is the 24th largest credit union in the state of Michigan. It is also the 440th largest credit union in the nation. It was established in 1936 and as of June of 2022, it had grown to 134 employees and 72,616 members at 10 locations. LAFCU has an A health rating.
Field of Membership Restrictions
Membership in LAFCU is open to those who live, work, worship, attend school, or own a business in any Michigan county.
See current membership details
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LAFCU is My Credit Union for my life!
I have been banking with LAFCU for 15 years, almost half my lifetime. I enjoy banking with them, I have financed three cars through LAFCU, I have taken out numerous personal loans too. I love walking in and after more than a decade people remember me and call me by name.
There was a time in my life when I paid for my car with a jar of change, I has two jobs and struggled. The employees saw my struggle ad knew how hard I was trying in life. They never gave me a hard time about the change I used to pay my bill.
I am so thankful for them.
LAFCU has made it possible for me to raise my credit score and I even started an account for my oldest daughter, soon enough my baby will have an account there too.
I appreciate being appreciated and being treated like a person and not an account.
My older daughter already has plans to finance her first car with LAFCU in order to build her credit too.
I do not plan on leaving LAFCU . I am very happy with my treatment there and the service I have received for the past 15 years.
Need Phone Help
I love lafcu except for calling. There is no off time to call. If you call you will wait 25 30 minutes. They have a call back feature but you never know when they will call. I blame management for this, they need more people on the phones. I'm done calling its quicker to hit the branch office. Plus you don't have to listen to 30 minutes of ads and their over and over we will call you back. Lafcu is a good credit union but damn it they need help on the phones
Data as of Q2 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68632 |
| Year Chartered | 1936 |
| Employees | 134 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.97% |
| Return on Equity - YTD | 9.25% |
| Annual Interest Income | $17.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2022vs Q2 2021 | $953.4MM$926.8MM |
| Loans | Q2 2022vs Q2 2021 | $716.7MM$622.9MM |
| Deposits | Q2 2022vs Q2 2021 | $839.7MM$810.2MM |
| Equity Capital | Q2 2022vs Q2 2021 | $100.7MM$97.9MM |
| Loan Loss Allowance | Q2 2022vs Q2 2021 | $5.9MM$5.7MM |
| Unbacked Noncurrent Loans | Q2 2022vs Q2 2021 | $6.7MM$2.8MM |
| Real Estate Owned | Q2 2022vs Q2 2021 | $0$113.00K |