CU in Florida

Lake Michigan Credit Union is making a big push into Southwest Florida, opening branches in Lee and Collier counties and exploring further statewide expansion.
Rivals should take note.

Here's why: A recent analysis by S&P Global Market Intelligence ranked the $4.3 billion-asset Michigan lender as one of the best-performing credit unions in the nation. It came in second out of 488 credit unions, behind only Idaho Central Credit Union. No Florida-based credit unions made the top 50.

S&P Global Market Intelligence ranked the credit unions by five financial metrics: member growth, net charge-offs as a percentage of average loans, efficiency ratio (operating expense as a percentage of operating revenue), asset quality and market growth.