History of LFCU
A Community-Driven Credit Union
As a member-owned, not-for-profit cooperative Limestone Federal Credit Union is committed to our members. We strive to uphold our fundamental responsibility to actively serve people within our field of membership and, as appropriate, the communities they live in.
Our charter members, a small group of men who worked for Inland Lime & Stone Company, recognized a need for trustworthy affordable financial services. After applying to NCUA for approval the new credit union, still known today as Limestone Federal Credit Union, held its first meeting on March 27, 1955.
This group of members; Cecil Chase, Richard Freeland, Howard LaBar, Bill Chartier, Charles Blanchard, Howard Hanson, and Charlie Burley are known today as our charter members.
The First Office
Our first office was located in treasurer Charlie Burley’s garage. After working at Inland Lime & Stone during the day, he rushed home in the evening to faithfully serve the financial needs of community members. Through dependability and personal service, the small credit union flourished in the garage.
Growth and Tradition
Throughout the 50’s & 60’s Limestone FCU continued to grow and prosper and soon outgrew Charlie’s garage. In 1968 LFCU moved to a new location on Walnut Street, which was our first commercial location. By 1975 membership had grown from 187 to 1,096 and assets topped $1.3 million dollars, and we took our first steps toward new age technology with the purchase of our very first computer! By 1978 the growth of membership and technology again prompted a search for more space, which resulted the purchase of the old medical clinic located at 131 River Street, Manistique, MI. where we still serve our members today.
While we have moved around a bit, today we are still a single branch Credit Union located in Schoolcraft County, MI. We are community proud, located in the heart of Manistique, a strong, vibrant, and thriving community.
We continually seek ways to act in accordance with the seven cooperative principles, specifically “Concern for Community”. Through youth programs, education, and community involvement we believe we have found a unique way to engage membership as a whole while providing them with advanced technology, great rates, and unbeatable service.
In short, our mission speaks to our passion. We are committed to building a better financial tomorrow through service, education, and advocacy.
Awards & Achievements
Awards & Achievements
2018 Dora Maxwell Award – State & National Award
Limestone Federal Credit Union received the Dora Maxwell Social Responsibility Community Service Award from the Credit Union National Association (CUNA) at the state level, then went on to compete for the award at the national level. LFCU was thrilled when it was announced they had won the national award and received it at the 2019 Governmental Affairs Conference in Washington, D.C.
2018 The Innovation Award-MCUL
In March of 2018, the Michigan Credit Union League announced Limestone Federal Credit Union was being recognized for their innovative work with The Grind Coffee House. The Grind gives students a chance to create and operate a real-life start-up, developing financial planning, strategic planning, and a fundamental business plan – much of which is done by collaborating with other students and community members. This program is important for leading participants into future success. It offers something to our community we previously did not have – truly bringing innovation to our community.
2017 Upper Peninsula Michigan Credit Union Person of the Year-MCUL
The Michigan Credit Union League named Limestone Federal Credit Union’s Chairman, Ron Provo, the UP Chapter’s Michigan Credit Union League Person of the Year for 2017. Ron was recognized for his tireless work, support, and leadership to Limestone, its staff, and membership, in addition to his belief in the Credit Union movement. Serving on the LFCU Board of Directors for over 30 years, Ron is an integral part of its success. Mr. Provo also serves his community in his role as the District C board member for Cloverland Electric Cooperative. The awards ceremony was held at the MCUL annual meeting in April of 2017.
2014 Outstanding Credit Union of the Year Award (assets <$50,000,000)-MCUL
Limestone Federal Credit Union was named Outstanding Credit Union of the Year with assets <$50,000.00 by the Michigan Credit Union League. This honor is awarded to Limestone for its achievements in service to members, programs provided, financial literacy efforts, community involvement, legislative advocacy, and public relations marketing.
2013 Excellence in Lending – CUNA
The Credit Union National Association (CUNA) awarded Limestone Federal Credit Union with the 2013 Mortgage Lending Excellence Award. Recognizing the unique approach to continued education, credit-building programs along with financial ratios that have traditionally been above their national and local peers, LFCU measures their success by the financial stability of its members.