LMCU to build new Grand Rapids community branch in partnership with Amplify GR; commits additional $4M to bring its HomeAssist down payment assistance program total to $16 million. Both investments are aimed squarely at expanding financial access and creating pathways to homeownership.
GRAND RAPIDS, Mich. — Lake Michigan Credit Union (LMCU) today announced two significant investments that reflect the credit union’s deepening commitment to financial access, housing equity, and the communities it was founded to serve.
LMCU will build a new full-service branch at 1412 Kalamazoo Ave in Grand Rapids’ Boston Square neighborhood, marking the return of neighborhood banking to the community for the first time in more than 25 years.
Additionally, LMCU has committed an additional $4 million to its existing HomeAssist down payment assistance program, bringing the program’s total committed funding to $16 million.
“Our purpose is to help all members achieve their dreams for a lifetime, and a branch in Boston Square is the next perfect spot to achieve that purpose,” said LMCU President and CEO Julie Leonard. “We are equally excited about the expansion of our down payment assistance program for first-time homebuyers. We want to ensure financial access matches the strength and vision already present in our community. When more people own homes, neighborhoods grow stronger, schools improve, and communities thrive. Everything we’re announcing today is a commitment to our members, including the people who have always believed in Boston Square.”
LMCU to build Boston Square branch; Rockford Construction and Quantum Construction selected for project
According to Jon Ippel, Executive Director of Amplify GR, “For years, neighbors have said the same thing: we need a bank back in Boston Square, and this project is the result of long-term efforts to reestablish a financial institution here. Working with the Boston Square Neighborhood Association, Oakdale Neighbors, and the City of Grand Rapids, LMCU was chosen from a months-long selection process. This all came together with neighbors identifying a priority, community partners staying committed to that vision, and LMCU stepping forward after a formal selection process with a genuine desire to invest in the neighborhood. Bringing financial services back is about much more than banking, it’s about creating access, building wealth, and ensuring neighbors can fully participate in the neighborhood’s growth.”
LMCU will build the new community branch in Boston Square with Rockford Construction and Quantum Construction, Grand Rapids-based firms selected for the project whose combined experience spans construction, development, and community-focused projects across Michigan and beyond.
The proposed branch is designed to function as far more than a place to open a savings or checking account. This is an opportunity to build a branch based on the needs of the
neighborhood and a growing community. The vision calls for an open, welcoming space with specific interactive areas, places for broader engagement, and one-on-one meeting spaces to meet the varying needs of our members.
Community input will shape the final design. LMCU has committed to engaging residents, business owners, and local partners throughout the development process to ensure the branch reflects the people it will serve.
“Boston Square is a community with deep roots and real momentum,” said Sara Kemperman, LMCU EVP and Chief Operating Officer. “Our goal is to build something that belongs here — a branch that meets people where they are, earns their trust, and grows with the neighborhood. For over 90 years, LMCU’s reason for being has been rooted in service to our members and communities. This branch is that mission made visible.”
LMCU has been active in the Boston Square area for years, working alongside community partners including Amplify GR, LINC UP, Project Green, Young Money Finances, The Fair Housing Center of West Michigan, Kent County Habitat for Humanity, and the Grand Rapids Housing Commission.
LMCU adds $4 million to HomeAssist, bringing total program commitment to $16 million
LMCU has committed an additional $4 million to its HomeAssist program, a down payment assistance (DPA) grant program that provides eligible first-time homebuyers with up to
$10,000 to cover down payment and closing costs. HomeAssist is specifically designed to reduce barriers to homeownership for economically under-resourced borrowers and first-generation homeowners.
The expanded commitment builds on a year of meaningful impact: in 2025, LMCU helped more than 9,100 people become homeowners, including more than 3,300 first-time buyers.
LMCU awarded $4.6 million in HomeAssist grants to 405 first-time homebuyers during that period alone.
“The down payment is the single biggest obstacle standing between most first-time buyers and homeownership,” Leonard said. “HomeAssist exists to remove that obstacle. Our Board of Directors believes adding to the program isn’t just a financial decision — it’s a reflection of who we are and what we believe banking should do for people.”
HomeAssist is available to qualifying first-time homebuyers purchasing a primary residence through LMCU. For more information, visit LMCU.org/HomeAssist.
Nearly a century of showing up
LMCU was founded in Grand Rapids in 1933 by a schoolteacher and 13 colleagues who pooled their resources during the Great Depression. The spirit of that founding “people helping people” is the thread running through every announcement made today.
In 2025, LMCU donated more than $4.1 million to nonprofits across four philanthropic pillars: Education, Housing, Health & Well-Being, and Economic Inclusion. LMCU team members logged more than 14,600 volunteer hours, supporting more than 385 nonprofit organizations across Michigan and Florida.
Today’s announcements build on LMCU’s recent opening of its first-ever Detroit branch on Woodward Avenue — further evidence of the credit union’s commitment to expanding access across Michigan.
“Thriving communities don’t build themselves,” Leonard concluded. “Someone needs to show up. We’ve been showing up for nearly a century, and we’re just getting started.”
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About Lake Michigan Credit Union
Lake Michigan Credit Union, established in 1933, is the largest credit union in Michigan and 13th largest in the country. Employing a staff of over 1,800 and serving more than 663,000 members, LMCU’s assets exceed $15 billion, with over $17 billion in portfolio and serviced mortgages. LMCU has 75 convenient branch locations, including 23 across the Tampa Bay area and Southwest Florida. LMCU members have access to over 55,000 Allpoint ATMs worldwide. LMCU provides a full range of financial services, from high-interest-bearing checking accounts to personal loans, mortgages, business banking, investments, and insurance. To find out more, visit LMCU.org. Federally insured by NCUA. Equal Housing Lender.
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