1-Yr APY
3.20%
LMCU CD Rates (October 2026): Lake Michigan Credit Union Certificates Reviewed
Short answer
Lake Michigan Credit Union's best standard CD rate on October 3, 2026 is 3.75% APY on the 60-month CD, or 4.00% with LMCU's 0.25% MORE VIP Relationship Reward bonus. The 9-month CD pays 3.65% (3.90% VIP), 12 to 17 months 3.20% (3.45% VIP) and 18 to 25 months 3.25% (3.50% VIP), with a $500 minimum (lmcu.org). IRA and HSA CDs pay 0.15 point more, up to 4.15% VIP on 60 months.
LMCU CD rates, as of October 3, 2026 (lmcu.org)
| Term | CD APY | CD APY with VIP bonus | IRA/HSA CD APY | IRA/HSA with VIP |
|---|---|---|---|---|
| 3 to 8, 10 and 11 months | 3.15% | 3.40% | 3.30% | 3.55% |
| 9 months | 3.65% | 3.90% | 3.80% | 4.05% |
| 12 to 17 months | 3.20% | 3.45% | 3.35% | 3.60% |
| 18, 24 and 25 months | 3.25% | 3.50% | 3.40% | 3.65% |
| 30 months | 3.30% | 3.55% | 3.45% | 3.70% |
| 36 months | 3.35% | 3.60% | 3.50% | 3.75% |
| 48 months | 3.50% | 3.75% | 3.65% | 3.90% |
| 60 months | 3.75% | 4.00% | 3.90% | 4.15% |
Source: LMCU certificate rates, "Rates as of 10/03/26 and subject to change." VIP rates include the 0.25% MORE VIP Relationship Reward bonus. Minimum to open a CD is $500; a $5 member savings account is required for membership. A penalty may be charged for early withdrawal.
Hero stats · LMCU share certificate
5-Yr APY
3.75%
Insurance
NCUA
NCUA Cert
See NCUA locator
Assets
$12.5B
Min Deposit
$500
EWP (long)
Penalty applies (see LMCU disclosure)
As of
2026-10-03
Rate alert
Rates expire like milk.
The best MYGA, CD and savings rates change every few weeks. Get a short email when a rate on this page changes.
We’ll email you when a rate on this page changes. Hans Goldstein · NPN 20602398.
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CD vs MYGA, after tax
What $100,000 earns in 5 years: CD vs MYGA, after tax
Rates used: CD 4.50%, the top nationally available 5-year CD (DepositAccounts, September 24, 2026); change it to the rate you are offered. MYGA 5.95%, the best A-rated rate we track as of October 13, 2026: Delaware Life Pinnacle Plus 5-year (AM Best A-, negative outlook, 7/31/2026), $100,000 and up, effective October 6, 2026 (Delaware Life rate sheet).
| CD, interest taxed every year | $118,826 |
|---|---|
| MYGA, tax-deferred, before tax | $133,507 |
| MYGA after paying tax on all the interest at withdrawal | $126,136 |
| Tax deferral alone adds about | $674 |
| MYGA ahead of the CD, after tax | $7,310 |
Assumes 22% federal and 0% state income tax, no withdrawals, rates held for the whole term. MYGA interest is taxed as ordinary income when you withdraw it, not as capital gains. Gains taken before age 59 1/2 can owe a 10% IRS penalty, and cashing out early can cost a surrender charge. In an IRA both grow tax-deferred, so the edge there is the rate alone. Bank and credit union deposits are FDIC or NCUA insured up to the limits; a MYGA is backed by the issuing insurer's claims-paying ability and your state's guaranty association up to its limits, not the FDIC. General education, not tax, legal or financial advice.
What is the LMCU VIP bonus?
LMCU's MORE VIP Relationship Reward adds 0.25% to its CD rates: the 60-month goes from 3.75% to 4.00% APY and the 9-month from 3.65% to 3.90% (October 3, 2026). LMCU ties the bonus to its rewards program, so ask which relationship qualifies before you count on the higher number.
LMCU IRA CD rates
LMCU's IRA and HSA CDs pay 0.15 point more than its regular CDs at the same term: 3.90% APY on 60 months (4.15% with VIP) and 3.80% on 9 months (4.05% VIP), as of October 3, 2026. If you are 73 or older, line the maturities up with your required minimum distribution dates.
How much does $10,000 earn in an LMCU CD?
About $270 over 9 months at 3.65% APY, or about $290 with the VIP rate of 3.90% (October 3, 2026), before tax. LMCU's own disclosure for its high-yield Max Checking says it pays up to 4.00% APY on balances up to $15,000 when monthly requirements are met (as of 10/3/2026), so for a balance under $15,000 that account can beat a short CD.
From my desk: Hans Goldstein, licensed insurance producer (NPN 20602398)
LMCU is unusual: its CD rates rise with the term, topping out on the 60-month at 3.75%, or 4.00% with the VIP bonus (October 3, 2026). Most credit unions this month pay their best rate at 18 months. So the LMCU question I ask is whether the money really can sit five years, and whether you qualify for VIP.
If it can sit five years, that is exactly the money I also price in a 5-year MYGA, because the CD interest is taxed every year and the MYGA interest is deferred.
Example ($250,000, 5 years, before taxes): LMCU's 60-month at 4.00% VIP grows to about $304,200; a 5-year MYGA at 5.80% (low end of the A-rated range, AnnuityRateWatch, September 24, 2026) grows to about $331,400. A MYGA rate is guaranteed by the issuing insurer and backed by its claims-paying ability, not the NCUA, and it has surrender charges. See CD vs MYGA and, for Florida members, Suncoast certificate rates.
Membership eligibility, who can join LMCU?
Open to MI/FL residents, and via $5 donation to the ALS Association Michigan Chapter, national pathway.
The workaround: $5 donation to ALS Association Michigan Chapter.
Federally insured credit unions are legally required to limit membership to a defined "field of membership", but many CUs structure their bylaws to make joining trivially easy via a small donation, a free non-profit membership, or a low-fee sponsor-organization sign-up. The donation/sponsor approach lets you become an Associate Member, which qualifies you for the same accounts and rates as direct-eligibility members. Once you've opened a small share savings account ($5-$50 typical), you can open share certificates online in minutes.
If you can't qualify for LMCU membership, the most accessible national CUs are Alliant (Foster Care to Success $5 donation), Bethpage ($5 savings account, no donation needed), and Connexus ($5 Connexus Association donation).
Pros and cons
Pros
- $5 ALS Association donation makes membership national
- Strong MI/FL branch networks (60+ branches)
- 9-month CD at 3.65% (3.90% VIP), October 3, 2026
- $12.5B asset base, largest MI-based CU
- Solid mobile and online banking platform
Cons
- 1-year rate (3.20% on October 3, 2026) trails the best nationally available 1-year CDs (4.35-4.50%, DepositAccounts)
- 5-year rate (3.75% on October 3, 2026) trails A-rated 5-year MYGAs (5.80-6.00%, AnnuityRateWatch, September 24, 2026)
- $500 minimum higher than Bethpage ($50)
- Auto-renewal default at posted rate
- Best rate needs the VIP relationship bonus
How LMCU compares to other credit unions and banks
At the 1-year share-certificate term, this is how LMCU compares with other large credit unions and the best national CDs, each dated:
| Institution | 1-Year APY |
|---|---|
| LMCU 12-month CD (10/3/2026, base / VIP) | 3.20% / 3.45% |
| Suncoast 12-month share certificate (read 10/3/2026) | 3.70% |
| Navy Federal 12-month certificate (10/3/2026, $1,000 tier) | 4.05% |
| NC SECU 12-month STC (10/1/2026) | 4.00% |
| Top nationally available 1-year CDs (DepositAccounts, 9/25/2026) | 4.35% to 4.50% |
Credit unions often beat banks on share-certificate rates by 10-30 basis points at the same term, that's the structural advantage of being non-profit and member-owned. They return profits to members in the form of better rates, lower fees, and lower loan APRs rather than to shareholders. But not every CU does this well. Restricted-membership CUs sometimes coast on rate; open-eligibility CUs (Alliant, Bethpage, Connexus) compete harder because they have to attract members nationally.
For an apples-to-apples comparison versus the highest online bank CDs (Marcus, Synchrony, Capital One, Ally), see Best 5-Year CD Rates 2026 and Credit Union vs Bank CD: structural differences.
When a MYGA beats this share certificate
A Multi-Year Guaranteed Annuity (MYGA) is the insurance-industry equivalent of a CD: a fixed rate locked for a fixed term, with no market loss on principal, backed by the claims-paying ability of the issuing insurer and your state's guaranty association (limits vary). At the 5-year term, the top A-rated MYGAs paid about 5.80-6.00% (AnnuityRateWatch, September 24, 2026) versus LMCU's 3.75% standard 60-month CD on October 3, 2026.
Math at $250,000 over 5 years (annual compounding, before taxes):
- LMCU 60-month CD @ 3.75% (October 3, 2026): about $300,500
- LMCU 60-month CD @ 4.00% with VIP bonus: about $304,200
- 5-Year MYGA @ 5.80% (September 24, 2026): about $331,400
MYGAs also defer tax on interest until withdrawal, CDs and share certificates are taxed annually as ordinary income whether you touch the interest or not. For taxable retirement money you don't plan to withdraw for 5+ years, the MYGA usually comes out ahead on math. The trade-off: MYGAs have a fixed surrender schedule (usually 5-10 years), while share certificates have shorter penalty periods. See CD vs MYGA Comparison for the full side-by-side.
NCUA vs FDIC, is the credit union really as safe?
Yes. The National Credit Union Administration (NCUA) insures federally chartered and most state-chartered credit unions up to $250,000 per depositor, per ownership category, the same coverage limit as FDIC. The two agencies use different funds (the National Credit Union Share Insurance Fund vs. the Deposit Insurance Fund), but both are backed by the full faith and credit of the U.S. government. In 50+ years of credit union history, no depositor has ever lost a penny of NCUA-insured funds.
What to verify before opening: confirm LMCU's NCUA-insured status at ncua.gov/research using NCUA charter #61605. If you have more than $250K with one CU, restructure into joint, IRA, or trust ownership categories to expand coverage, each category gets its own $250K limit.
Bottom line on LMCU
Lake Michigan Credit Union (LMCU) is a legitimate NCUA-insured CU with a rate sheet that's competitive within the CU peer group. The 1-year rate is solid; the 5-year rate is meaningfully behind A-rated MYGAs. If you're a member by direct eligibility (or you've used a $5 workaround), the short-term certificates are a fine place for money you might need in 12-24 months. For 5+ year money, run the MYGA math first.
And remember: most CUs auto-renew at the rate posted on the renewal date, which is often well below the promotional rate you got at opening. Set a calendar reminder 30 days before maturity to compare current rates and decide whether to renew, withdraw, or move the money to a MYGA.
FAQ, LMCU share certificates
What APY does LMCU pay on a 1-year share certificate?
3.20% APY on the 12-month CD, or 3.45% with the 0.25% VIP bonus, as of October 3, 2026 (lmcu.org). The 9-month paid 3.65% and the 60-month 3.75%.
What is the best LMCU CD rate today?
The 60-month CD at 3.75% APY, or 4.00% with the MORE VIP Relationship Reward bonus; IRA and HSA 60-month CDs pay 3.90% (4.15% VIP). Rates as of October 3, 2026, $500 minimum.
How do I join Lake Michigan Credit Union (LMCU)?
LMCU opens membership nationally via a $5 donation to the ALS Association Michigan Chapter. Once you've donated, you qualify for Associate Member status. The CU also serves MI/FL residents directly without needing the donation pathway.
Is a share certificate at this credit union as safe as a bank CD?
Yes. Federally insured credit unions are insured by the NCUA (National Credit Union Administration) to $250,000 per depositor, per ownership category, the same coverage limit and federal backing as FDIC. The two agencies use different funds, but both are backed by the full faith and credit of the U.S. government.
What is the early withdrawal penalty (EWP) at LMCU?
For terms under 12 months: 90 days div.. For longer terms: 180 days div. (terms >12mo). If accrued dividends are insufficient, the penalty comes out of principal, so the timing of the withdrawal matters.
What is the minimum deposit for a LMCU share certificate?
$500. NCUA insurance covers up to $250,000 per depositor per CU; if you have more than that, split between institutions or use joint-account titling to expand coverage.
Does LMCU auto-renew certificates at maturity?
Yes, LMCU typically auto-renews at the current posted rate for the same term unless you give written instructions during the grace period (usually 7-10 days). Set a calendar reminder; the auto-renewed rate is often below promotional or jumbo-tier rates available at maturity.
Should I consider a MYGA instead of a credit-union CD?
At the 5-year term, the top A-rated MYGAs paid about 5.80-6.00% (AnnuityRateWatch, September 24, 2026) versus LMCU's 3.75% standard 5-year certificate on September 25, 2026, a gap of roughly 2.05-2.25 points on a 5-year contract. MYGAs are tax-deferred (interest isn't taxed until withdrawal); CDs are taxed annually. The trade-offs: MYGAs have a surrender schedule (usually 5-10 years), while CDs let you exit with an interest-only penalty. For taxable retirement money you don't need to touch for 5+ years, the MYGA usually wins on math.
Related reading
- Credit Union vs Bank CD: structural differences
- Best 5-Year CD Rates 2026, top APYs vs MYGA math
- CD vs MYGA Comparison, which fits your money
- Best MYGA Rates 2026, current top A-rated carriers
- CD Ladder vs MYGA Ladder strategy
Before you lock in a LMCU share certificate, see the MYGA comparison
Hans Goldstein, independent licensed insurance producer.
If you're considering a LMCU share certificate at any term over 3 years, you should see what an A-rated MYGA pays at the same term. Often it's 100-150 basis points higher, with tax deferral built in.
Send your details and you'll get a written side-by-side: this share certificate vs. the top 3 MYGAs at the same term, with end-of-term math at your actual deposit amount. We’ll email it to you.
Rather talk it through? Or book 15 minutes on Hans’s calendar, or call 213-414-2808.
Hans Goldstein · 213-414-2808 · NPN 20602398, independent licensed insurance producer appointed with multiple A-rated carriers
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Disclosure
This review reflects publicly posted credit-union rates and APYs as of 2026-10-03 (lmcu.org). Share-certificate rates change frequently, confirm current rates directly with Lake Michigan Credit Union (LMCU) before opening an account. This article is general information for educational purposes; it is not a personalized recommendation, solicitation, or offer of any specific banking or insurance product. Lake Michigan Credit Union (LMCU) is NCUA-insured to $250,000 per depositor, per ownership category, the same coverage limit and federal backing as FDIC. Hans Goldstein is an independent licensed insurance producer (NPN 20602398) appointed with multiple A-rated annuity carriers; he is NOT a credit union employee, broker-dealer, or registered representative, and is not paid by Lake Michigan Credit Union (LMCU) for this review. No compensation has been received from Lake Michigan Credit Union (LMCU) in connection with this content. MYGA comparisons reference rates from A-rated carriers as of the date stated; carrier rates change monthly. Always read the actual share-certificate disclosure or annuity contract before purchasing.