Average User Rating:
4 star rating based on 1 review.

Consumers CU (MI)

7040 Stadium Drive
Oshtemo, MI 49077
800.991.2221
www.consumerscu.org

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Consumers CU (MI) is headquartered in Oshtemo and is the 21^st largest credit union in the state of Michigan. It is also the 485^th largest credit union in the nation. It was established in 1964 and as of December of 2012, it had grown to 157 employees and 49,438 members. Consumers CU (MI)'s money market rates are 14% higher than the national average, and it boasts a 5-star health rating.

Top CD Rates at Consumers Credit Union in Michigan - Local Only - 11/15/2012

Consumers Credit Union has two special CDs with very competitive rates and with a nice feature that allows one penalty-free withdrawal during the term. The credit union is calling these Thank You CDs. ...

4.30% 18-Month CD with Early Withdrawal Feature at Consumers Credit Union in Michigan - 9/29/2008

Consumers Credit Union is offering a special 4.30% APY 18-month CD. The minimum deposit is $1,000, and the maximum is $100,000. The special is called a Mulligan CD since it allows a one-time penalty-free withdrawal. An active checking account is...

$250 Checking Account Bonus at a Michigan CU (Consumers) - 4/6/2008

Consumers Credit Union is having checking account special in which you can earn up to $250. This requires an initial deposit of $5,500 in their Interest Checking Account. The account must stay open and active for six months or the cash incentive will be...

5.21% 6-Month / 5.21% 11-Month CD at a Michigan CU (Consumers). - 1/4/2008

Consumers Credit Union is having a CD special with a yield of 5.21% APY available on terms from 6 to 11 months. The minimum deposit is $1,000, and the maximum is $250,000. It's available as both a regular and IRA certificate.Update 1/6/08: A reader...

2007

11/14 - 5.25% 6-Month / 5.25% 60-Month CD at a Michigan CU - and all terms in between (Consumers)

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See Rates for: Checking | Savings | Money Market | CD | IRA

Consumers CU (MI) Checking Account Rates

	Apy	Min	Max	Product
	0.25%	$25k	-	Interest Checking Account

Consumers CU (MI) Savings Account Rates

Apy	Min	Max	Product
0.50%	-	-	Traditional IRA Account
0.50%	-	-	Roth IRA Account
0.50%	-	-	Educational IRA Account
0.50%	-	-	SEP IRA Account
0.25%	-	-	Christmas Savings Account
0.15%	$50	-	Savings Account

Consumers CU (MI) Money Market Rates

Apy	Min	Max	Product
0.76%	$50k	$100k	March Madness Money Market
0.50%	-	-	Money Market IRA Account
0.50%	-	-	Money Market Roth IRA Account
0.50%	-	-	Money Market Education IRA Account
0.40%	$250k	-	Money Market Account

Consumers CU (MI) CD Rates

Apy	Min	Max	Product
1.50%	$25k	$500k	60 Month CD
0.79%	$25k	$500k	36 Month CD
0.75%	$100	$10k	12 - 60 Month Dollar Dog CD
0.55%	$25k	$500k	24 Month CD
0.40%	$25k	$500k	12 Month CD
0.20%	$25k	$500k	6 Month CD

Consumers CU (MI) IRA Rates

Apy	Min	Max	Product
1.50%	$25k	$500k	60 Month IRA
1.50%	$25k	$500k	60 Month CESA
1.50%	$25k	$500k	60 Month Roth IRA
1.50%	$25k	$500k	60 Month SEP IRA
0.79%	$25k	$500k	36 Month IRA
0.79%	$25k	$500k	36 Month CESA
0.79%	$25k	$500k	36 Month Roth IRA
0.79%	$25k	$500k	36 Month SEP IRA
0.55%	$25k	$500k	24 Month IRA
0.55%	$25k	$500k	24 Month CESA
0.55%	$25k	$500k	24 Month Roth IRA
0.55%	$25k	$500k	24 Month SEP IRA
0.40%	$25k	$500k	12 Month IRA
0.40%	$25k	$500k	12 Month CESA
0.40%	$25k	$500k	12 Month Roth IRA
0.40%	$25k	$500k	12 Month SEP IRA
0.20%	$25k	$500k	6 Month IRA
0.20%	$25k	$500k	6 Month CESA
0.20%	$25k	$500k	6 Month Roth IRA
0.20%	$25k	$500k	6 Month SEP IRA

Rates updated: 5/22/2013

Data for Q4 2012

Institution Statistics

CONSUMERS
NCUA #	62172
BankRate Report	View
Year Chartered	1964
Employees	157
Primary Regulator
Assets and Liabilities
Assets	$430.62 million
Loans	$350.52 million
Deposits	$354.64 million
Equity Capital	$42.17 million
Loan Loss Allowance	$5.36 million
Unbacked Noncurrent Loans	$839,000
Real Estate Owned	$3.79 million
Historic Data - December 2011
Assets	$364.24 million
Equity Capital	$33.74 million
Loan Loss Allowance	$7.65 million
Unbacked Noncurrent Loans	$6.64 million
Real Estate Owned	$5.43 million
Profit Margin - Quarterly
Net Interest Margin	5.28%
Return on Assets	1.96%
Return on Equity	19.98%
Interest Income	$19.31 million
Non-Interest Income	$12.72 million

Institution Health

Overall Score:

5 out of 5

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, 2012 Consumers CU (MI) had $4.62 million in non-current loans and owned real-estate with $47.53 million in equity and loan loss allowances on hand to cover it. This gives Consumers CU (MI) a Texas Ratio of 9.73% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Consumers CU (MI) decreased significantly from 29.15% as of December 31, 2011 to 9.73% as of December 31, 2012, resulting in a positive change of 66.62%.This indicates that the balance sheet and financial strength for Consumers CU (MI) has improved significantly in recent periods.
Deposit Growth
In the past year, Consumers CU (MI) has increased its total deposits by $54.29 million, resulting in 18.08% 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 Consumers CU (MI) has shown is excellent.
Capitalization
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. Consumers CU (MI) has $430.62 million in assets with $47.53 million in equity, resulting in a capitalization level of 11.04%, which is above average.

Overall, A Very Positive Place To Bank
4 stars

- joshcollison - Sunday, February 20, 2011 - 7:13 PM

My wife and I have been members of Consumer's Credit Union in Kalamazoo, MI for several years now. I would say that we have been very satisfied with our experience thus far. The offices have a very friendly feeling, ranging from the politeness of the staff, the free coffee, and fast service. Their web-site is incredibly helpful, where you can do online banking, bill-pay, etc. I can even get text messages sent to my phone when I want to check the balance of our account.

The only negative experiences we have had over the years have been when we failed to pay attention to our account balance and overdrew our account. I accept responsibility for the failure on our part when this has happened, but in one or two instances I called customer service to plea for their help. It was actually a desparate situation that we were in financially, and I ended up having a one-dollar coffee cost $31.00 (with the overdraft fee). I explained my situation to the girl at customer service, and it really didn't seem like she had an ounce of humanity in her cold body. Yes, rules are rules. It was my fault. But we all make mistakes, and in a bad situation, it really seemed like a very degrading respnse that she gave.

I still like the credit union, and aside from a few excessive fees, I am very happy with my membership there.

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