Premier Banking: Who we are and what we do. Premier Banking is a highly personalized service featuring exceptional products that serve professional clients in ways that meet their busy lifestyles. The Premier Banking group caters to clients with a verifiable net worth of $1 million or more and annual incomes of $200,000 and higher*. As a Premier Banking client at Lake Michigan Credit Union, you’ll be entitled to the best of everything. That means one of the highest interest-bearing checking accounts in the nation, low mortgage rates, special discounts on consumer loans, plus exceptional, professional assistance and personalized service for all your financial needs. For more information about any of the products or services mentioned in this brochure, please contact Jim Koessel at (616) 464-7338.
*Alternatively, Members with $1,000,000 in Assets under management (AUM) with LMCU qualify for the Premier Banking Deposit products (can be combo of investments/ deposits, only investments, or deposits only). Eligibility qualification for loan products must be determined based on income verification. Physicians (M.D., O.D., and D.D.S.) qualify if they have been in practice for less than 3 years that have a net worth under $1 million with an income that exceeds $200,000 annually.
Premier Mortgage & Consumer Loans Living the good life is all about the right financing.
Premier Consumer Loans
As a Premier Banking client, you’re entitled to exclusive mortgage programs that allow you to finance up to 100% of your home’s value. Premier personal loans give you special discounted rates. It’s all good.
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Premier Mortgage Loans • Finance up to 100% of your home’s value • Low mortgage rates
Preferred rates No annual fees No pre-payment penalty Premier unsecured line of credit with a preferred low interest rate
Securities products offered through LPL Financial. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. Lake Michigan Credit Union and MaxWealth Management are not registered broker/dealers and are not affiliated with LPL Financial. Not NCUA Insured.
No Credit Union Guarantee.
May Lose Value.
Premier Checking One of the key products in the Premier Banking array is Premier Checking, which delivers a return so high that it easily outperforms money market accounts and CDs – even many long-term investment products. In fact, Premier Checking earns one of the highest rates in the country, as recognized by Money Magazine – over six times the national average.† Premier Checking • Super high interest – 3% APY* on balances up to $15,000, and 0.55% on everything else – earning interest on every dollar • Unlimited check writing • No minimum balance required • Free Mobile Banking with enhanced mobile check deposit (deposit checks with your smart phone) • Free Bill Pay • Free wire transfers • Free safe deposit box – subject to availability • Free ATM usage worldwide
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Free checks and cashier’s checks Unsecured line of credit tied to Premier Checking Premier Student Checking available Access to investment and insurance advisors, plus retirement services, including 401(k) retirement plans for your organization • Embossed leather checkbook and checks branded with the Premier Banking insignia IOLTA Checking An Interest on Lawyer Trust Account (IOLTA) is an interest bearing checking account for lawyers and law firms to hold client funds for future distribution. • Interest bearing • No monthly maintenance fee • No minimum balance required
†Money Magazine® rated our Max Checking account best in America among accounts offered by credit unions, November 2016.*APY= Annual Percentage Yield.
Premier Business Services It’s our commitment and passion to deliver the very best value in all the financial areas that impact your business. In addition to offering above-market rates on our business checking account, we also offer exceptional value in the areas of insurance and business retirement services.
Retirement services that provide tax advantages, plus income and growth potential, are available to Premier Banking clients through MaxWealth Management, located at Lake Michigan Credit Union.
Premier Business Checking Account
Retirement Services
• No fees and no minimum balance requirement • No monthly limit on checks written or deposits made • Preferred interest rate (currently 0.50% APY on all balances)
• Retirement income planning for you and your employees • Services available for companies include: 401(k)s, Roth 401(k)s, IRAs, SEP, and Simple IRAs • Educational seminars for your company’s employees
• Complimentary first set of checks
MaxWealth Management
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Lake Michigan Insurance Agency (Michigan only) As a Premier Banking client, you’ll have full access to Lake Michigan Insurance Agency’s full range of money-saving business insurance services. • • • •
Property, casualty and liability Individual vehicle plus company fleets Commercial umbrella Health and disability employee programs
Securities products offered through LPL Financial. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. Lake Michigan Credit Union and MaxWealth Management are not registered broker/dealers and are not affiliated with LPL Financial. Not NCUA Insured.
No Credit Union Guarantee.
May Lose Value.
Credit Cards Whatever your financial goal, our Premier Banking group has the perfect card for you. All three of our cards offer no annual fees, no balance transfer fees, 25-day grace period, 24/7 fraud protection, zero-fraud liability and free car rental insurance. Max Rewards Visa Signature Credit Card Your Max Rewards come back to you as Credit Union Rewards points that can be redeemed for cash back, travel, merchandise and more. Not only will you get max rewards, but also a low interest rate. Features: • 3% cash back or three reward points per dollar spent on gas purchases (up to $500, 1% after max reached) • 2% cash back or two reward points per dollar spent on all grocery and restaurant purchases (unlimited) • 1% cash back or one reward point per dollar spent on all other purchases (unlimited) • Rate as low as prime + 6.75% APR (variable) • Easy online access to view and redeem points for cash, travel and merchandise
Prime Platinum Card If you tend to carry a balance from month-to-month, you’ll love our Prime Platinum card, rated best in the nation among low rate credit cards.* It’s also great for debt consolidation, with no balance transfer fees and one of the lowest interest rates available anywhere in the country. Features: • Interest rate as low as prime + 3.00% APR • Rate is variable, tiered, linked to prime • Credit line of up to $25,000
* Kiplinger’s Personal Finance Magazine named our Prime Platinum credit card as the best in the nation among all low interest rate cards. July 2016.
Jim Koessel Senior Vice President | Manager, Premier Banking P: (616) 464-7338 C: (616) 438-5023 jim.koessel@lmcu.org NMLS #819734 4050 Lake Dr. SE Grand Rapids, MI 49546
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