Unlock Business Success with Oregon Community Credit Union

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Oregon Community Credit Union

In the vast landscape of financial institutions, credit unions like Oregon Community Credit Union stand out for their unique approach to serving members—Unlike big banks, credit unions are not-for-profit cooperatives owned by their members, prioritizing their financial well-being over profit. 

This member-focused philosophy translates into tailored solutions and personalized service, making credit unions a popular choice for businesses seeking a more personalized banking experience. In this review, we’ll delve into Oregon Community Credit Union, with a spotlight on business credit cards, loans, and other products specifically designed to meet the needs of small businesses. 

Let’s explore how credit unions like OCCU can help businesses thrive in today’s competitive landscape.

This is what’s in store: 

Now, let’s get into it!

What is Oregon Community Credit Union?

OCCU login

Oregon Community Credit Union (OCCU) is a not-for-profit financial cooperative owned by its members and based in Oregon and Washington. It all started with a bunch of Oregon state employees who pooled their cash into a shoebox in Eugene, Oregon. From those humble beginnings, OCCU has grown while sticking to the credit union philosophy of “people helping people”

This means they reinvest their profits back into: 

  • Their members
  • Their operations
    The communities they serve

Reinvestment of profits leads to lower fees, higher savings rates, and lower loan rates.

OCCU is big on supporting small businesses—They offer a range of business banking services tailored to fit the needs of different businesses. 

They’ve got traditional business accounts, which include checking accounts that can grow with your business, no-fee trust accounts for lawyers, and nonprofit accounts that let you focus on your impact without worrying about fees and minimum balances. 

If you’re looking to save, they’ve got great rates on business savings and money market accounts.

When it comes to lending, OCCU is there for small businesses with competitive rates and low fees on business loans and lines of credit. Need to finance a vehicle or some new equipment? They make that process quick and easy too. Plus, they offer the OCCU Business Visa® Credit Card, which helps you manage expenses, earn rewards, and protect your purchases.

Recommended: 3 Best Credit Unions for Small Business Banking

OCCU Locations Served

Oregon Community Credit Union Locations

OCCU serves businesses primarily in Oregon and Washington, with a network of branches and ATMs in key locations like Eugene, Springfield, Junction City, Keizer, Redmond, Roseburg, Salem, and Wilsonville. Each branch provides essential services like video tellers and enhanced ATMs, which means extended hours and 24/7 access for deposits, withdrawals, and loan payments.

MyOCCU Online & Mobile Banking enables you to do a lot from your computer or mobile device: 

  • See your balance
  • Browse transactions
  • Pay bills
  • Transfer funds
  • Download statements
  • Deposit funds
  • Apply for loans and credit

These online tools ensure that OCCU business members have convenient access to their accounts and financial services nationwide, making banking easy and accessible no matter where you are.

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OCCU Membership & Eligibility

Oregon Community credit union address

To become a business member of OCCU, your business needs to meet certain eligibility criteria—If your business is located in one of the 67 counties in Oregon or Washington, you’re eligible to join. Additionally, if you or your business partners are immediate family members of an existing OCCU member, students or employees of the University of Oregon, employees or members of Bi-Mart, or employed by the State of Oregon, you can join.

The process to join OCCU as a business member is straightforward: 

  1. Visit the OCCU website and navigate to the membership section. 
  2. Fill out the online application form with your business details and personal info. 
  3. A $5 deposit secures your share in the credit union, which makes you a member (and owner). 
  4. Submit your application. 

OCCU will review your application and verify your eligibility…You might need to provide additional documentation during this step.

Once you’re a member, you can access a wide range of OCCU’s products and services. And, you can take advantage of shared branching, which lets you conduct transactions at thousands of credit unions nationwide.

OCCU business benefits

If you join, you can also enjoy:

  • Access to over 30,000 surcharge-free CO-OP Network ATMs nationwide.
  • Complimentary identity theft protection through Identity Fraud, Inc., with additional protection available.

By becoming an OCCU member, your business gains access to valuable financial products and services, as well as numerous benefits designed to enhance your financial security and convenience.

You might also like: 14 Best Credit Monitoring Services for Scores, Reports, & ID Theft Protection 

Business Financial Products & Services

Oregon community credit union CD rates

The benefits are really selling the credit union. But, as a business, you need to make sure that your institution offers everything you need. From business checking to credit cards and treasury services, here’s what you can expect from OCCU. 

1. Diverse Business Checking Accounts

OCCU business checking accounts

OCCU offers three business checking account options tailored to fit the diverse needs of local businesses:

  1. Launch Business Checking
  2. Thrive Business Checking
  3. Optimum Business Checking 

With all OCCU business checking, you may be eligible for a $2 discount on monthly service fees with eStatements. 

Launch Business Checking is ideal for new businesses or those with limited transactions. You’ll have no monthly service fee when maintaining a $1K minimum balance. And, your first 250 transactions and up to $5K in cash deposits per month are complimentary. 

Next, Thrive Business Checking is designed for growing businesses that want interest earnings. There’s no monthly service fee if you maintain a $3K minimum balance. Plus, your first 500 transactions and up to $15K in cash deposits per month are complimentary. 

Finally, the Optimum Business Checking account is suited for established businesses that aim for higher earning potential. It offers a competitive 0.45% APY on balances and low monthly service fee of $16. This account features “itemized fees,” which ensures you only pay for the services you use.

You might also like: Amex Business Checking Review: What You Need to Know…Really 

2. Interest on Lawyers’ Trust Accounts

Oregon lawyer trust accounts

The Interest on Lawyers’ Trust Accounts (IOLTA) Checking offered by OCCU provides law firms with a hassle-free way to manage client funds. 

Here’s a quick overview of its features:

  • No monthly fees
  • Unlimited transactions
  • Competitive interest rates
  • $100 minimum opening balance 

These accounts allow legal professionals to to focus on serving your clients without worrying about account maintenance costs. You can conduct an unlimited number of check and ACH transactions, providing flexibility in managing client funds. And, you’ll earn competitive interest rates on the funds held in the account, ensuring that client funds work for them while awaiting distribution.

The minimum opening balance of $100 makes the IOLTA account accessible for law firms of various sizes.

By choosing IOLTA Checking, you contribute to a public service program that helps provide legal assistance to those in need. The interest generated from this account supports access to legal services for individuals and communities, which aligns with their philosophy of “people helping people.”

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3. Specialized Non-Profit Banking 

Oregon nonprofit banking

OCCU offers nonprofit banking services designed to support organizations dedicated to community betterment. I’ll give you a quick summary. 

Their Mission-Driven Checking includes: 

  • No monthly service fees or minimum balance requirements
  • Unlimited transactions and cash deposits at no extra cost
  • Includes a Visa® debit card for convenient access to funds
  • Easy account management through MyOCCU 

And, the Nonprofit Money Market account offers: 

  • Competitive interest rates of up to 2.30% APY on the entire balance
  • Unlimited withdrawals for easy access to funds
  • No minimum daily balance or fees

These services empower nonprofit organizations to strengthen their financial foundations while continuing to make a positive impact on their communities.

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4. The OCCU Business Visa® Credit Card

OCCU business credit card

The OCCU Business Visa® Credit Card offers businesses a suite of features designed to streamline expense management and enhance financial flexibility.

With this card, you can get:

  • Competitive interest rates ranging from 15.24% to 22.24% APR
  • Rewards points for cash back, merchandise, travel, and gift cards

You can easily track expenses and cash flow online, ensuring efficient management of your business finances. Security features, including Visa’s Zero Liability Policy and Purchase Security, provide peace of mind against unauthorized charges and protect purchases from theft or damage. 

You can redeem rewards points online or by phone, with no expiration date for accrued points. Additional benefits include no monthly account service fees, unlimited transactions, and access to MyOCCU Online & Mobile banking for seamless account management. 

Recommended: Corporate vs Business Credit Card: What’s the Difference? 

5. OCCU Business Loans & Lines of Credit 

OCCU business lines of credit

OCCU offers flexible lines of credit designed to support the financial needs of local Oregon businesses. 

These lines of credit come with several benefits and features:

  • Credit lines ranging from $10K to $50K
  • Secured and unsecured options available
  • Competitive interest rates and low fees
  • Interest-only payment options

They also offer business vehicle and equipment loans—Whether you need a new delivery van or essential equipment, they’ve got you covered. With options for new or used vehicles and equipment, terms up to 84 months, loan amounts ranging from $10K to $250K, and just a $100 origination fee, they can help you get the wheels turning on your business.

Recommended: 6 Best Business Credit Cards for Entrepreneurs: Fuel Your Growth 

6. OCCU Business Savings & Investment Opportunities 

Oregon Community Credit Union Business Savings CDs and MMAs

OCCU offers a range of business savings options designed to help businesses achieve their financial goals while providing low fees, competitive interest rates, and exceptional member service. Here’s a breakdown of their business savings products.

With OCCU’s Business Savings Accounts, you can:

  • Earn competitive interest on your entire balance
  • Link your business savings account to your checking account for overdraft protection at no additional charge
  • Enjoy free internet banking and MyOCCU Mobile Banking 

Next, the Business Money Market enables you to:

  • Earn a high-tiered interest rate of 2.30% APY on your entire balance
  • Benefit from unlimited withdrawals
  • Maintain no minimum daily balance
  • Pay no monthly service fees

And Business Certificates come with:

  • Interest rates that are typically higher than standard savings or money market accounts
  • Fixed rates and terms ranging from six months to 60 months
  • Flexible maturity options
  • “Relationship pricing” on 24-month certificates

The option for bump-up certificates allows you to increase your rate once per product per term to match any rate offered by OCCU.

With OCCU’s business savings options, you can maximize your savings potential while benefiting from flexible terms, competitive rates, and convenient account management features.

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7. The MyOCCU Mobile App 

OCCU mobile app

The MyOCCU Mobile Banking app gets a solid 4.8-star rating, showing folks generally like it. Users dig its updated look and features, making banking easier on the go. They especially like zipping money between accounts and settling bills with a few taps. The Snapshot feature is a hit too, letting you check balances in a flash. 

But, there are occasional hiccups, like slow loading or bugs with stuff like mobile check deposits. Despite these, it’s still a handy tool for managing finances on your phone.

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OCCU Customer Service

Oregon community credit union phone number

Oregon Community Credit Union (OCCU) offers robust customer service for its business members, with dedicated support channels tailored to their needs. Business members can contact OCCU’s call center during extended hours on weekdays and even on Saturdays, ensuring accessibility to assistance when it’s needed most. 

Additionally, there are specialized lines for credit and debit card inquiries, including reporting lost or stolen cards, providing swift resolution to security concerns—The option to send secure messages through MyOCCU Online & Mobile is available for account-related queries, prioritizing confidentiality and convenience. 

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OCCU Community Involvement

OCCU financial resources

While OCCU prioritizes helping its members, you don’t have to join to cash in on their resources and advice. First of all, the credit union has a library of financial info in their learning center/blog. From starting a business to sales and marketing, they share lots of advice to help you get off the ground…right on their website. 

These types of resources are invaluable for the community at large, but are just a supplement to what OCCU does in the community. 

Oregon Community Credit Union (OCCU) demonstrates its commitment to the community through various initiatives, including hosting an annual ‘Shred Fest’ event aimed at preventing identity fraud by offering free document shredding services to the public. This event underscores OCCU’s dedication to promoting safety and security for its members and the community at large. 

Additionally, OCCU recently tested a four-day workweek for call center employees, leading to increased staff productivity and satisfaction, showcasing its commitment to fostering a positive work environment. 

The credit union’s broader community involvement reflects its dedication to social responsibility and supporting local needs.

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Conclusion

OCCU doesn’t advertise any treasury services or payment processing solutions. But, they do offer pretty much everything else you could ask for with a business banking experience. And, their rates are better than you would probably expect to get from any big bank. 

They’ve got some sweet perks for business members—They offer different checking accounts with interest-bearing options like Lawyers’ Trust Accounts, perfect for managing client funds hassle-free. If you’re a non-profit, they’ve got specialized services just for you, too. 

And, when it comes to borrowing, OCCU’s got competitive loans and lines of credit—Their Business Visa® Credit Card even comes with rewards points and cool security features to keep your transactions safe.

Oh, and customer service seems solid, with extended hours and dedicated support lines just for you. So, if you’re looking for a credit union that’s got your back and cares about the community, OCCU could be the place to be!

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

CoVantage Credit Union: Business Banking in Wisconsin, Michigan, & Illinois

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CoVantage Credit Union

CoVantage Credit Union offers a refreshing alternative to traditional big banks by prioritizing personalized service and community support. As a credit union, CoVantage operates as a member-owned cooperative, placing the needs of its members above profits. This approach extends to its business banking services, where CoVantage provides tailored credit solutions and financial products to support small businesses. 

Here, we’ll explore CoVantage’s business credit cards and other small business products, so you can see how they cater to the unique needs of entrepreneurs.

This is what’s in store: 

Now, let’s roll!

What is CoVantage Credit Union?

CoVantage Credit Union loan officers

CoVantage Credit Union is a financial cooperative established in 1953 by a group of individuals in Wisconsin with the aim of providing members with improved financial services compared to traditional banks. Its mission revolves around offering better rates, lower fees, and excellent service to its members as a gesture of appreciation for their loyalty.

CoVantage offers specialized products and services to meet business’ financial needs:

  • CoVantage provides specialized business savings and checking accounts.
  • Business members can access the CoVantage Business Visa ® Rewards Credit Card.
  • The credit union offers convenient online and mobile banking options, ensuring easy access to business accounts and financial management tools.
  • CoVantage offers business tools, resources, and support to aid financial management.

CoVantage claims to provide exceptional value and service to its members, regardless of their financial status. With market-leading rates on deposits and competitive loan rates, they prioritize affordability. They emphasize respect and fairness for all members and provide free financial counseling and extensive community support through their CoVantage Cares Foundation. 

Additionally, their Patronage Payments program has rewarded members since 1981, distributing over $6 million in benefits in 2023 alone. Through accessible technology, online appointment scheduling, and extended Contact Center hours, CoVantage ensures convenience and support for its members’ financial needs.

Recommended: 3 Best Credit Unions for Small Business Banking

Locations Served by CoVantage

CoVantage Credit Union Locations

CoVantage Credit Union serves businesses across northern Wisconsin, upper Michigan, and Illinois, with branches in various cities including Green Bay, Fox Valley, Antigo, Appleton, Crandon, Elcho, Menasha, Neenah, Rhinelander, Shawano, Suamico, De Pere, Wausau, Rib Mountain, Weston, Rothschild, Plover, Stevens Point, Crystal Falls, Iron River, Menominee, Mokena, and New Lenox—These locations offer a range of services including account opening, loan applications, and credit card inquiries. 

Additionally, CoVantage provides fee-free ATMs and Virtual Teller ATMs throughout the region.

You might also like: PNC Bank Business Credit Card Review & Comparison 

CoVantage Membership & Eligibility

CoVantage Credit Union near me

To become a CoVantage member and access its business services, you need to meet certain eligibility criteria, which include living or working in specific counties in Wisconsin, Michigan, or Illinois. 

You may also be eligible for membership of you are:

  • A donor to the CoVantage Cares Foundation
  • A member of Servco FS Cooperative
  • A student or alumni of a post-secondary school in Marathon County
  • A family member of a current CoVantage members 
  • A law enforcement worker or firefighter
  • A member of certain organizations or associations within the credit union’s charter area

If you’re eligible, you can visit a CoVantage branch location or open an account online. 

A $10 deposit in a regular Share Savings Account is required to establish membership—Once you’re a member, you can apply for any financial service or benefit offered by CoVantage, including business products and services. 

As a member, you own one share of the credit union, which entitles you to voting rights during the annual election of the Board of Directors. You’ll need to provide your legal name, address, date of birth, and other relevant information and present identification documents like a driver’s license and business docs.

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Business Financial Products & Services

CoVantage Credit Union sign in

CoVantage Credit Union offers a diverse range of business products and services tailored to the unique needs of entrepreneurs. From essential banking services like business checking accounts to specialized treasury solutions, CoVantage provides products and services to help businesses thrive. 

Here, we’ll explore CoVantage’s array of offerings, highlighting the features and benefits that cater to the specific requirements of small business owners.

You might also like: 6 Best 0% APR Business Credit Cards to Check Out 

1. CoVantage Business Banking/Checking

Covantage credit union login

When evaluating a business checking account, it’s essential to consider associated costs alongside fees, requirements, and advantages. CoVantage’s business checking account is pretty cool when it comes to fees—You won’t get hit with charges for overdrafts, insufficient funds, or courtesy pay. But, there’s a tiny 25-cent fee for each On-Us check you request, just so you know. 

Moreover, if you keep a minimum daily balance of $500, you’ll snag a monthly dividend of 0.10%. It’s a sweet deal for sure!

CoVantage offers two business checking accounts for daily banking needs: 

  1. Plan Advantage Business Checking
  2. Plan Commercial Business Checking 

For businesses with total commercial loan balances below $500,000 or no loan relationship, the Plan Advantage Business Checking offers benefits like monthly earnings credits and deposit fast-tracking. However, it’s important to note that fees apply for cleared drafts, check deposits, and ACH transactions after specific limits are reached. 

Alternatively, the Plan Commercial Business Checking caters to businesses with larger loan balances or nonprofit organizations. While it provides similar benefits such as monthly earnings credits and deposit fast-tracking, it distinguishes itself by waiving fees for cleared drafts, check deposits, and ACH transactions. Understanding these associated costs can help you assess the true value of each account option.

Recommended: Bluevine Review: Free, High Yield Small Business Checking! Are They Serious?  

2. CoVantage Business Visa ® Rewards Credit Card

CoVantage Credit Union business credit card

CoVantage Credit Union’s Business Rewards Visa® Credit Card offers businesses in Wisconsin, Michigan, and Illinois a low 11.490% APR and no annual fee, along with automatic enrollment in the ScoreCard® Rewards program. With one point earned for every $1 spent, points can be redeemed for various rewards. 

CoVantage business credit rates

Additionally, interest paid on the card qualifies for CoVantage’s loan interest rebate program—Practically speaking, this means that as a business using the CoVantage Business Rewards Visa® Credit Card, you have the opportunity to potentially receive a portion of the interest you pay on your loans back. So, if you have an outstanding balance on your credit card or other eligible loans, you might qualify for a rebate on the interest paid by the end of the year.

Account management is available through MyCoVantage™ online banking, including features like activating, freezing, or setting travel notifications for the card. Fees are minimal, with no annual fee and reasonable balance transfer and cash advance fees. It’s a valuable tool to help businesses manage expenses effectively.

Recommended: What are the Best Unsecured Business Credit Cards for Startups? 

3. CoVantage Business Savings Opportunities 

CoVantage business savings account

When it comes to your business savings, CoVantage Credit Union offers a range of options tailored to different needs. Start with a Membership Share Savings Account by depositing $10 to establish ownership and earn dividends. 

If you need to separate funds, consider opening Miscellaneous Share Savings Accounts—For higher returns, invest in a Term Share Certificate with terms from 3 months to 5 years. 

CoVantage Credit Union CD rates

CoVantage also provides IRAs, including an Open Deposit Account or a Share Certificate option. Explore Money Market Accounts for tiered interest rates and liquidity. 

With Covantage, your deposits are protected by the National Credit Union Administration up to $250,000. Plus, you might qualify for a savings bonus at year-end. These options empower you to grow your business, earn dividends, and plan for the future confidently.

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4. CoVantage Business Services

Covantage credit union online

On top of banking and credit, CoVantage offers a suite of business treasury services to streamline your financial operations and boost efficiency: 

  • Remote deposit
  • ACH services
  • Merchant services (payment processor)
  • Night deposit and ATM access
  • Crop insurance
  • Coin and currency orders

With Remote Deposit, you can deposit incoming checks without leaving your office, saving time and resources. ACH Services enable electronic bill payments and receipts, reducing paperwork and enhancing convenience. Additional services include Merchant Services for handling card transactions, Night Depository for after-hours deposits, and Business ATM/Debit Cards for convenient access to funds. CoVantage also provides crop insurance and coin and currency orders. 

Enjoy improved funds availability, fewer branch visits, enhanced record-keeping, and robust security features. 

Recommended: What’s the Best Payment Processor for a Small Business? Really 

5. The MyCoVantage™ Mobile App 

MyCoVantage Mobile App

On the iOS App Store, the CoVantage Credit Union app boasts a rating of 4.6 out of 5 stars, based on feedback from over 6.3K users. It offers convenient features like balance viewing, transaction history, remote check deposit, loan applications, and account openings. Users can also manage payments, transfers, and alerts easily. Security features include Touch ID or Face ID login and Enhanced Login for added protection. 

On Google Play, the MyCoVantage Mobile Banking app maintains a 4.4-star rating with over 1.48K reviews. It offers similar functionalities, including balance viewing, remote check deposit, loan applications, and payment management. Users appreciate its convenience but note occasional issues with app performance and updates.

Despite occasional glitches reported by users, the app continues to get mostly good user ratings across both platforms

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CoVantage Credit Union Customer Service

CoVantage customer service

CoVantage provides comprehensive customer support with 24-hour assistance for credit card and debit card matters—You can ensure their financial security is maintained at all times. 

Additionally, CoVantage offers various communication channels, including: 

  • Online appointment scheduling
  • Branch visits
  • Phone support
  • Secure Messages through MyCoVantage™ 

They accommodate diverse preferences and enable prompt assistance. The Contact Center operates extended hours, including Saturdays, which enhances accessibility for busy business owners. Bilingual assistance is available at select branches. 

Overall, CoVantage Credit Union prioritizes efficient and personalized service to support the financial success of businesses in Wisconsin, Michigan, Illinois, and beyond.

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CoVantage Community Involvement

CoVantage credit union community

CoVantage Credit Union engages in community initiatives, which demonstrates a strong commitment to giving back and supporting local businesses and organizations. In 2023, CoVantage returned a record $6 million in patronage to its members, marking the largest patronage payment in its history. This unique financial benefit, provided for the 43rd consecutive year, includes bonuses on dividends earned for savers and loan interest rebates for borrowers. 

Additionally, CoVantage Cares Foundation, in collaboration with CoVantage Credit Union, raised over $2.7 million through its annual Giving Tuesday campaign to support 90 local nonprofit organizations over eight years—Through this initiative, branch staff selected nonprofit groups in their communities to receive funds raised, which were matched up to $175K by the CoVantage Cares Foundation. 

Finally, CoVantage Credit Union has been recognized for its innovative business philosophy, earning awards for its dedication to financial literacy and member service. These initiatives reflect CoVantage’s commitment to social responsibility and its mission of providing outstanding value, exceptional service, and support to its members and local communities.

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Frequently Asked Questions

What is CoVantage Credit Union’s routing number?

CoVantage Credit Union’s routing number is 275982539. This nine-digit number is used for various financial transactions, such as setting up direct deposits, making electronic payments, and wire transfers.

What time does CoVantage Credit Union open?

CoVantage Credit Union branches typically open at 9:00 AM local time on weekdays. However, specific branch hours may vary, so it’s recommended to check the branch locator on the CoVantage website or contact the nearest branch directly for the most accurate information regarding opening times.

Conclusion

In wrapping up, CoVantage Credit Union stands out for its member-focused approach and community support. As a business owner, you’ll appreciate their tailored solutions, competitive rates, and commitment to social responsibility. While their geographic reach may be limited, their dedication to providing exceptional value and service remains steadfast. 

Whether it’s through their business banking products, community initiatives, or innovative business philosophy, CoVantage strives to empower you in your financial journey—So, if you’re in their service area and meet the membership criteria, consider exploring what CoVantage has to offer for your business’s financial well-being and growth.

Do you want to learn how to obtain up to $100K in business credit in as few as 30 days? Join Business Credit Workshop today!

Lake Trust Credit Union: Michigan Business Banking & Loans

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Lake Trust Credit Union

Lake Trust Credit Union (LTCU) is one of Michigan’s go-to credit unions for the local communities it serves. And, they have an interesting business offer, including checking, credit, loans, and more. So, is this the right credit union for you? 

If you want to do your business banking with a credit union instead of a big bank (there are several perks to doing so), then keep reading to learn everything I know about their small business financial products. 

This is what’s in store: 

Now, let’s dig in!

What is Lake Trust Credit Union?

Lake Trust Credit Union review

So, LTCU is basically a financial hub in Michigan, especially if you’re running a small business. First off, they offer all the usual banking stuff—savings accounts, mortgages, you name it. But what’s really cool is their focus on small businesses. 

They’ve got specialized banking solutions tailored just for small business: 

  • Need a business interest checking account? They’ve got you covered. 
  • Want to manage your finances online? They’ve got free online banking anytime, anywhere. 
  • Into earning some perks? Check out their Visa® Platinum Business Credit Card. No cash advance fees? Yes, please!

But it’s not just about the products; it’s about the support they provide. They understand the hustle because they’re right there with you, living and working in the same communities. They’re all about building relationships and helping local businesses thrive. 

So, if you’re a small business owner in Michigan looking for a financial partner that’s got your back and is invested in your success, you might want to give Lake Trust Credit Union a serious look. 

Recommended: 3 Best Credit Unions for Small Business Banking in 2024 

Locations Served

Lake Trust Credit Union Locations

LTCU serves several locations in Michigan, including Brighton, Howell, Ann Arbor, Chelsea, Plymouth, Lansing, DeWitt, Dimondale, Monroe, Hastings, and Mt. Pleasant. They have branches conveniently spread out across these areas, making it easy for members to access in-person services. 

Additionally, they offer ATMs and Virtual Teller Machines (VTMs) at various locations, providing convenient options for banking transactions. So whether you’re in need of assistance in Brighton, Howell, Ann Arbor, or any of the other areas they serve, Lake Trust Credit Union has got you covered.

Including shared branches and Co-op ATMS, LTCU has over 100 points of contact for in-person transactions in the Michigan area. 

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LTCU Membership & Eligibility Requirements

lake trust credit union near me

Becoming a member of LTCU is like joining a community that’s all about improving financial wellbeing in Michigan—They’re pumped to have you onboard because, together with their members, they’re making a difference in neighborhoods across the state.

To get started, here’s what you’ll need handy:

  • A $5 membership share (this is like your stake in the credit union)
  • Your driver’s license or state ID
  • Your Social Security Number

Now, to qualify for membership, you gotta be connected to Michigan in some way—whether you live, work, worship, or go to school there. It’s all about keeping it local and supporting the Michigan community.

And when it comes to getting an LTCU business loan, there’s no strict credit score requirement. But, you do need to be a Lake Trust member or eligible for membership to apply. 

If you meet any of the eligibility criteria listed below, you’re likely good to go:

  • Live, work, worship, or attend school in any Michigan county
  • Retire from a legal entity in Michigan
  • Be part of a legal entity with similar membership as Lake Trust
  • Be an immediate family member of a member
  • Be the spouse of a deceased member

When Lake Trust Credit Union mentions being part of a legal entity with similar membership, they’re referring to organizations or groups that share characteristics or connections with the credit union’s membership base. 

Essentially, this means that if you are affiliated with a group or organization that mirrors the demographics or interests of Lake Trust members, you may be eligible for membership—This broadens the eligibility criteria to include individuals who may not directly live, work, worship, or attend school in Michigan but have a connection to a group or entity that does.

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Business Financial Products & Services

Lake Trust Credit Union login

Lake Trust has a pretty full suite of business financial products and services, from basic banking, to credit cards and treasury services. Explore the full offer below.

1. LTCU Business Banking/Checking

Lake Trust Credit Union Online Banking

LTCU offers a few different business checking accounts designed to meet the needs of different stages and types of businesses:

  • Business/Municipal/Government Basic Checking is ideal if you’re starting a business or managing finances for a local government or municipality. It has no interest earnings and requires a minimum of $50 to open.
  • Premier Business Checking is suited for growing businesses needing a scalable checking account. It offers up to 0.00% APY and also requires a minimum of $50 to open.
  • Business Interest Checking is perfect if your business maintains higher balances and you want to earn interest. It offers 0.10% APY and, like the others, requires a $50 minimum to open.

To open any of these accounts, download the application from the LTCU website, fill it out, and bring it to a branch with the required documentation. Each account supports different stages of business growth, with benefits tailored to your specific needs.

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2. LTCU Platinum Business Visa® Credit Card

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The Lake Trust Credit Union Platinum Business Visa® Credit Card is designed to help you manage business expenses efficiently while offering various rewards and perks. With this card, you can make purchases on the go and enjoy benefits such as travel, baggage, and car rental perks.

The purchase APR for this card is as low as 14.40%, which also applies to balance transfers. This rate is variable and depends on the market based on the Prime Rate, as well as your credit history and other factors.

Unique perks for business card holders include:

  • Rewards for every purchase
  • Benefits like travel assistance, baggage insurance, and car rental discounts
  • Protection against unauthorized transactions

To apply for the Platinum Business Visa® Credit Card, you can complete the process online, visit any Lake Trust branch, or call 888-267-7200. This card offers a convenient and secure way to manage your business finances while earning rewards and enjoying additional perks.

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3. LTCU Business Loans 

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LTCU offers a range of business lending solutions tailored to meet the diverse needs of small businesses:

Whether you’re purchasing, refinancing, or expanding your business space, Lake Trust provides personalized service and locally made loan decisions—They offer flexible terms and competitive rates for various types of real estate, including industrial, retail, apartments, offices, parking, and storage units.

Their term loans are ideal for significant one-time purchases like vehicles or equipment. With fixed or floating rate options, flexible borrowing limits, and repayment plans, Lake Trust helps businesses acquire what they need while preserving cash flow.

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For businesses with fluctuating expenses, a line of credit offers flexibility. It helps cover payroll or payments during periods of cash flow uncertainty, with funds becoming available again as the balance is paid down.

Lake Trust supports startups and less established businesses through SBA loans with flexible terms and low-interest rates—These loans are backed by the SBA, which provides additional flexibility and support for new ventures.

Designed for business expenses under $50,000, Lake Trust’s microloans provide quick access to funds for startups, freelancers, or established businesses. The lending process is typically shorter than traditional loans.

For loans over $50,000, Lake Trust offers various types of fast loans, including: 

  • Business vehicles
  • Signature loans
  • Revolving lines of credit
  • Secured loans

Overall, their business loan products have competitive rates and flexible terms to support the diverse needs of small businesses.

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4. LTCU Business Savings & Investment Opportunities 

LTCU business savings accounts

LTCU offers a range of business savings accounts designed to help you save for future business expenses and reach your financial goals.

  • Business/municipal/government saving accounts
  • Business money market savings accounts (MMAs)
  • Business premium MMAs 
  • Group health saving accounts (HSAs)
  • Business certificates of deposit (CDs)

Business/municipal/government savings accounts are the foundational account to start your business membership with Lake Trust. With a minimum opening deposit of $5.00, you earn 0.05% APY. 

Designed to help you save more effectively, the business MMA offers up to 1.06% APY with a minimum opening deposit of $1,000. It’s perfect for saving up for future business needs. And, if you’re  looking to maximize your savings, a business premium MMA offers a higher rate of up to 4.25% APY with a minimum opening deposit of $1,000. 

In partnership with HealthEquity, Lake Trust offers Group HSAs for business members with high-deductible health plans. These accounts provide a tax-free way for you and employees to save for future medical expenses.

A business CD can help you save for short or long-term business goals with terms that suit your needs—It offers up to 4.07% APY with a minimum opening deposit of $500. 

To open any of these accounts, download the application, fill it out, and bring it to a Lake Trust branch along with the required paperwork.

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5. LTCU Treasury Services 

LTCU business treasury services

Managing your business accounts is simple withLTCU’s Treasury Services—You can handle everything right from your office, saving time and avoiding trips to the branch. 

Here’s a rundown of the services you can add to a Lake Trust account:

  • Remote deposit capture –- Deposit checks directly to your account using a desktop scanner. You’ll be able to view check copies and deposit details online. 
  • ACH origination – Send and receive payments easily, perfect for handling direct deposit payroll, taxes, and vendor payments. You can even create templates for frequent transactions. 
  • Wire transfer service –- For those time-sensitive transactions, wire transfers allow you to send same-day funds securely, whether domestically or internationally. 
  • Positive pay fraud monitoring – Protect your account from fraud with Positive Pay, which monitors ACH and check transactions. Get alerts, set blocks or filters, and have more control over approved or denied transactions. 

With these Treasury Services, you can manage your business finances more efficiently and securely, giving you more time to focus on growing your business—Note that fees apply, and I believe you’ll need to enlist a third-party payment processor, as they don’t advertise any in-house options to accept payments. 

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6. The LTCU Mobile App 

The lake trust mobile app

The LTCU Mobile app is available for free on the iOS App Store and Google Play, and allows you to:

  • Check balances and transaction history
  • Deposit checks
  • Pay bills and credit cards
  • Transfer money between accounts
  • Find branches and ATMs
  • Send messages

In all, it gets good user reviews, rated 4.8 stars with 8.2K ratings on the iOS App Store and 4.5 stars with 4.94K reviews and 50K+ downloads on Google Play. The app is reported to be fast, secure, and user-friendly, making it easier to manage your accounts anytime, anywhere. To use the app, you must be a LTCU member and enrolled in their online banking service.

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Lake Trust Customer Service

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While LTCU is known for being friendly and helpful toward businesses, there are some downsides to the level of customer support provided. Let’s get those out of the way first. 

First, business members can reach out via LTCU’s website forms, but the forms are limited and the site can be a little wonky to navigate. 

Next, their fraud response team is outsourced, so you might not get the same level of service as you would for other products if your financial information is stolen—This is a common complaint, but issues like this are nonetheless often resolved within a week. 


With that said, you can use the website’s live chat, reach out online via a form, call in via phone, or stop at a branch for help with anything you need. Getting in touch with LTCU is easy, with various options available to suit your needs. 

You can give them a call for account and general information at 888.267.7200, with service hours from: 

  • Monday to Friday, from 7 AM to 7 PM
  • Saturday from 9 AM to 1 PM 

For credit card activation and information, they’re available 24/7 at 855.671.0078. In case of fraud, report it promptly at 877.445.0728 for debit cards and 855.671.0078 for credit cards, available round the clock. And, if you’re outside the U.S., reach us for international debit or credit card services at 973.682.2652, also available 24/7. 

You can easily locate LTCU’s 27 points of contact, including branches and ATMs, using the online locator tool. Finally, if you prefer traditional mail, send correspondence to Lake Trust Credit Union, 4605 S. Old US Highway 23, Brighton, MI 48114. 

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