How successful a credit union is at making money has an effect on its long-term survivability. A credit union can retain its earnings, giving a boost to its capital buffer, or put them to work addressing problematic loans, likely making the credit union better able to withstand financial shocks. Obviously, credit unions that are losing money have less ability to do those things.
On Bankrate's test of earnings, LAKE MICHIGAN scored 22 out of a possible 30, beating the national average of 10.31.
The credit union had an earnings ratio of 13.00 percent in our test, better than the average for all credit unions, a sign that it's outperforming its peers in this area.