Lake State Credit Union

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Review based on 12 criteria Rating: 0 out of 5

PO Box 330, Moose Lake, MN, 55767

Website

218-485-4444

Lake State Credit Union was founded in 1939. Headquartered in Moose Lake, Minnesota, Lake State Credit Union is a state chartered and federally insured credit union, being chartered in Minnesota and insured through the National Credit Union Share Insurance Fund (NCUSIF). Lake State Credit Union is also a member of the Federal Home Loan Bank (FHLB), which allows a credit union to access low cost secured borrowings or advances and provides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2013, Lake State Credit Union services 18,020 members through its 6 offices and branches and 76 full-time and 9 part-time employees. It has $183,149,905.00 of total assets and $20,012,416.00 of net worth. Based on its asset size and net worth ratio, Lake State Credit Union is classified as a Well Capitalized medium large size credit union.

Lake State Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Lake State Credit Union also provides an array of services to its members and local communities. To find out more, please go to the Services page.

Lake State Credit Union’s membership type is defined as State chartered natural person credit union. If you are interested in joining Lake State Credit Union, please visit their website or call 218-485-4444 for details. If you are a current member of Lake State Credit Union or have used any of their services or products, please rate them and leave your comments.

The following two tables list the depository and loan interest rates of Lake State Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Minnesota and in the nation.

Major Depository Accounts and Interest Rates (%)

Interest Rate
Median Rates of Minnesota
National Median Rates
Checking
0.0000
0.0000
0.0000
Savings
0.1500
0.1000
0.1500
Money Market
0.3000
0.2000
0.2400
Certificate Deposit
0.5500
0.4000
0.5000
IRA
1.0000
0.4500
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Minnesota
National Median Rates
Credit Cards
15.0000
9.9000
9.9900
Unsecured Line of Credits
16.0000
11.0000
11.0000
Short-term Small Amount
18.0000
22.6000
Student Loans
5.9900
6.0350
New Car Loans
1.7900
3.4400
3.9120
Used Car Loans
4.4900
4.5000
4.9900
1st Mortgage Real Estates
5.4400
4.4300
4.5200
Other Real Estates
4.2500
4.9100
5.0000

Lake State Credit Union provides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, ATMs, and mobile devices. The table below lists the electronic banking services provided by Lake State Credit Union.

Electronic Banking Service Offerings

Membership Application
Yes
Yes
Share Account Transfers
Yes
New Loan Application
Yes
Share Draft Orders
Yes
No
New Share Account
No
Bill Payment
Yes
No
e-Statements
Yes
Loan Payments
Yes
Merchandise Purchase
No
Account Balance Inquiry
Yes
No
Merchant Processing Service
Yes
View Account History
Yes
No
No
Download Account History
Yes
No

As a community financial institution, Lake State Credit Union actively involves in local communities by providing services such as first tim home buyer programs.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
No
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
No
Student Scholarships
Yes
Insurance/Investment Sales
Yes
First Time Homebuyer Program
No
Lscu – Duluth Office
11 E Superior St Ste 160
Duluth, MN 55802
Phone:218-485-4444

Lscu – Hinckley Office
210 Old Highway 61 S
Hinckley, MN 55037
Phone:320-384-7455

Lscu – Isanti Office
210 6th Ave Ne
Isanti, MN 55040
Phone:763-444-8120

Lscu – Moose Lake Office
Main Office

301 Elm Ave
Moose Lake, MN 55767
Phone:218-485-4444

Lscu – North Branch Office
6241 Main St
North Branch, MN 55056
Phone:651-674-0898

Lscu – Sandstone Office
406 Commercial Ave N
Sandstone, MN 55072
Phone:320-245-5251

218-485-8483

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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