Michigan CLASS & Local Community Stabilization Authority
Receive Your LCSA Distributions Online!
Through a partnership with Michigan CLASS, you can now receive your LCSA payments via electronic transfer. With Michigan CLASS, entities can receive LCSA payments as soon as the LCSA distribution is initiated.
Benefits of receiving LCSA distributions via Michigan CLASS
Creating a dedicated Michigan CLASS subaccount for your LCSA funds enables you to easily track your funds for reporting and auditing purposes while the Michigan CLASS Online Portal allows you to move your funds to your bank accounts on file without transaction fees.*
When you opt to receive your payments online, your entity’s funds will be deposited directly into your account, eliminating delays and potential fraudulent activity associated with physical mailing, while the Michigan CLASS Online Portal enhances your ability to report on your entity’s LCSA payments through on-demand statements and transaction confirmations.
How do I receive my LCSA distributions via Michigan CLASS?
If your entity is receiving LCSA payments, your entity is eligible to join Michigan CLASS. Michigan CLASS is a local government investment pool that is available to all public agencies in the state of Michigan. Once you activate your Michigan CLASS account, your entity can begin receiving LCSA payments via electronic transfer. To begin, please follow the below steps:
- Submit your investment policy to Michigan CLASS for review.
- Adopt the Michigan CLASS Participation Agreement by passing a board resolution authorizing participation in Michigan CLASS.
- Complete the Trust Registration Form.
- Submit the above documents via fax to (855) 381-0496 or email to Client Services.
If you have any questions or would like assistance in this process, please reach out to the Michigan CLASS Relationship Team.
Who can I contact about my LCSA distributions?
If you have questions about your LCSA payment amount or LCSA in general, please contact Jaymes Vettraino and Kristen Delaney at email@example.com.
By becoming a Michigan CLASS Participant, you not only receive the enhanced benefits of online LCSA distributions, but your entity will also enjoy an attentive Client Service team to answer your every question, a professionally managed program dedicated to Michigan since 1991, and a transparent online portal that gives you a holistic view of your investments all in one easy-to-use platform.
Fill out the form below, and a member of the Michigan CLASS team will be in contact with next steps:
*You may incur fees associated with wires and/or ACH transactions by your bank, but there will be no transaction fees charged from Michigan CLASS for such transactions.
Investment involves risk including the possible loss of principal. No assurance can be given that the performance objectives of a given strategy will be achieved. Past performance is no guarantee of future results. Any financial and/or investment decision may incur losses.