FARMINGTION – LOC Credit Union (LOC) has been named Best Credit Union in the Best of Best Detroit Awards sponsored by the Detroit Free Press. Winners were announced on April 16 as part of a virtual ceremony.
The award honors the achievements and accomplishments of local businesses throughout the metro Detroit area. The awards recognize the best businesses in the community—including credit unions—through a nomination and voting process.
As a member-owned, not-for-profit financial cooperative, LOC sets itself apart from other local financial institutions by offering:
- Best-in-market new and used auto loan rates starting at 1.39% APR that are up to 56% lower than the Detroit Metro average
- Unique-in-market home equity programs that offer the same great rate regardless of credit score
- Best-in-class Mortgages & Real Estate Lending expertise
- Special discounts and offers for military, law enforcement, fire protection, health care and educational employees and retirees through our Loving Our Community Heroes program
- Financial literacy partnerships with our local school districts. Our efforts were recognized in late 2018 when we were named the 2nd place winner of the Desjardins Award by the Credit Union National Association (CUNA) in our asset category for youth financial literacy.
In receiving this honor, LOC President & CEO Stephen Grech stated, “We believe this recognition to a great extent validates our strategy to focus on offering best-in-class, relevant products and services, and is a testament to the excellent member service delivered by our dedicated employees each day. We have been very intentional about focusing on what we desire to do best. It means all the more to LOC to receive this recognition during such challenging times.”
LOC Credit Union was founded in 1950 and serves anyone who works, worships, lives, or attends school in Southwestern Oakland and Livingston counties and their immediate family members. With locations in Farmington, Hartland and Howell, LOC serves approximately 25,000 members and has approximately $300 million in assets. LOC has also earned BauerFinancial’s highest five-star rating for financial strength and stability. Only the strongest financial institutions in the nation receive BauerFinancial’s five-star rating. Visit locfederal.com for more information.