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Overview / Commentary
1888 E Sherman
Muskegon, MI 49444

Best Financial Credit Union is headquartered in Muskegon and is the 124th largest credit union in the state of Michigan. It is also the 1,846th largest credit union in the nation. It was established in 1955 and as of December of 2013, it had grown to 26 employees and 10,853 members. Best Financial Credit Union's CD rates are 11% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

Membership is open to persons, who live, work, worship, or attend school in Kent, Muskegon, Newaygo, Oceana or Ottawa counties of Michigan. - See Details

Reviews (1)

Issues All The Time

Bank that is too strict and often not friendly. My mother tried depositing cash into my checking account and was denied because her name was not on account. She didn't ask for info or Truro withdraw money. She had account number and just wanted to deposit. Also, several checks were denied cashing because they said the check was "altered". If the check is made out with more than one ink color they will refuse to cash you better pray your pen don't die in the middle of writing the check. Too many times the staff have denied easy banking services and made transactions difficult!!!!


Data for Q4 2013

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Best Financial Credit Union has a relatively low asset base.

Texas Ratio


The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Best Financial Credit Union had $183,000 in non-current loans and owned real-estate with $15.15 million in equity and loan loss allowances on hand to cover it. This gives Best Financial Credit Union a Texas Ratio of 1.21% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Best Financial Credit Union decreased dramatically from 2.00% as of December 31, 2012 to 1.21% as of December 31, 2013, resulting in a positive change of 39.57%.This indicates that the balance sheet and financial strength for Best Financial Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Best Financial Credit Union has increased its total deposits by $2.91 million, resulting in 5.45% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Best Financial Credit Union has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Best Financial Credit Union has $71.5 million in assets with $15.15 million in equity, resulting in a capitalization level of 21.19%, which is excellent.

Institution Statistics

NCUA #62027
Year Chartered1955
Primary Regulator
Assets and Liabilities
Assets$71.50 million
Loans$38.10 million
Deposits$56.41 million
Equity Capital$14.77 million
Loan Loss Allowance$377,000
Unbacked Noncurrent Loans$88,000
Real Estate Owned$95,000
Historic Data - December 2012
Assets$67.73 million
Equity Capital$13.87 million
Loan Loss Allowance$432,000
Unbacked Noncurrent Loans$88,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.82%
Return on Assets1.24%
Return on Equity6%
Interest Income$2.52 million

Always verify rates and promotions with the bank or credit union. We are not Best Financial Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Best Financial Credit Union Savings Account Rates

0.50%-$10kKasasa Saver
0.25%--IRA Savings
0.25%$100-Christmas Club
0.25%--Roth IRA Savings
0.25%--Educational IRA Savings
0.25%$100-Any Reason for All Seasons
0.15%$100-Share Savings
0.15%$100-Association Savings
0.15%$100-Member Choice Account
0.15%--XYZ Youth Account
0.05%--Kasasa Saver

Best Financial Credit Union Money Market Rates

0.35%$25k-Easy Access Money Market

Best Financial Credit Union Checking Account Rates

2.50%-$10kKasasa Cash
0.05%--Kasasa Cash

Best Financial Credit Union CD Rates

1.30%$500-60 Month Share Certificate
1.00%$100$2,50012 Month Super Kids Share Certificate
0.85%$500-48 Month Share Certificate
0.75%$500-36 Month Share Certificate
0.45%$500-24 Month Share Certificate
0.40%$500-12 Month Share Certificate
0.30%$500-6 Month Share Certificate

Best Financial Credit Union IRA Rates

1.30%$500-60 Month IRA Certificate (Traditional,CESA)
1.30%$500-60 Month Roth IRA Certificate
0.85%$500-48 Month IRA Certificate (Traditional,Roth,CESA)
0.75%$500-36 Month IRA Certificate (Traditional,Roth,CESA)
0.45%$500-24 Month IRA Certificate (Traditional,Roth,CESA)
0.40%$500-12 Month IRA Certificate (Traditional,Roth,CESA)
0.30%$500-6 Month IRA Certificate (Traditional,Roth,CESA)

Best Financial Credit Union Locations
Main Office1888 E Sherman BlvdMuskegon, MI 49444-1822