As local banks all around are being continually acquired by regional banks, and regional banks by national and multinationals also—many of their customers who don’t stay put have made the switch to credit unions (ahem—here, here! – mth). This week, Jeremy Shaffer from Lake Michigan Credit Union shared what sets credit unions apart — and why many of his clients have made the shift away from traditional banks, as he recently also has, career-wise.

First, Jeremy’s journey into mortgage lending wasn’t typical. After serving in the Marine Corps during the Gulf War, he landed in Ann Arbor thanks to EMU’s notoriously-strong veteran support program. From there, a chance conversation with a regular while bartending led him into the industry — and he never looked back. He had discovered real gratification in solving problems and helping people feel secure in their biggest financial decisions and knew he was in the right career—but with an industry that has been notoriously tumultuous.

After working with numerous institutions due to job change and acquisitions, Jeremy recently made the move over from traditional for-profit banks to Lake Michigan Credit Union. Jeremy explained his move from traditional banking to credit unions as a natural next step toward more career stability and better serving his clients. Unlike banks, credit unions are member-owned, not-for-profit institutions, meaning their focus stays squarely on their members — not shareholders.

That difference can lead to real benefits, often including:

• More competitive loan and savings rates
• Lower fees
• A local, service-first approach
• Members are actually owners
• Wealth remaining locally held and owned

While traditional banks may still be the favorable option for large commercial loans or international needs—Jeremy made a strong case for why a credit union is often the right choice for everyday lending, savings, and mortgages.

📣 Are you looking for a mortgage or a better banking experience? Connect with Jeremy Shaffer at Lake Michigan Credit Union for top-rate integrity and service.

If you want to meet more professionals like Jeremy, visit a Border to Border Business Connections meeting — guests are always welcome!