Torch Lake Federal Credit Union was originated through the Knights of Columbus as a cooperative method in giving small loans to local people.Chartered in 1955, the original founders were Harry Trainer, Louis Koepel, and Peter Pini.
Torch Lake Federal Credit Union is a not-for-profit financial cooperative, therefore we operate solely to meet the needs of our members. Our Board of Directors consists of 5-7 members who are elected annually by the membership at an annual meeting-which all of the credit union membership is encouraged to attend. They are volunteers and establish the policies under which the credit union will operate. The National Credit Union Association governs the overall operations and insures your savings up to $250,000.00.
We are a community credit union chartered from Dollar Bay to Copper Harbor and welcome everyone.
Torch Lake Federal Credit Union is a community chartered credit union, established in 1955. Our field of membership is north of Hancock to Copper Harbor and anywhere in between. We do not require any special affiliation to join the credit union, you just need to live, work, own real estate within our chartered area.
Once approved for membership, $25 is required to be deposited and maintained in a share savings account. After you open a share savings account, you are eligible to apply for loans, checking accounts,open a share certificate, and so much more!
We also provide account services for businesses. If you are interested in opening a business account, please contact one of our Member Account Representatives to provide you with the required information for business accounts.
Torch Lake Federal Credit Union is located at 400 Hecla Street, Laurium MI 49913
Call us: 906 337-5565
To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens an account.
What this means for you: When you open an account, we will ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see you driver’s license and other identifying documents.