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Overview / Commentary
517-784-7101
1100 Clinton Rd
Jackson, MI 49202-2060

CP Credit Union is headquartered in Jackson and is the 30th largest credit union in the state of Michigan. It is also the 559th largest credit union in the nation. It was established in 1953 and as of March of 2014, it had grown to 141 employees and 47,687 members. CP Credit Union's savings rates are 92% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must work in the Consumers Energy or several other companies in the Jackson, Brooklyn, Parma or Ingham area. - See Details

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Reviews (1)

A Little Slow, But Otherwise Great

CP Federal Credit Union is a wonderful place to bank. Their branches are in convenient locations, the people who work there professional and courteous. The people who help you open accounts or take out loans, etc., and very informational and eager to help you find what suites your needs the best. They are not pushy, nor do they try to change your mind. The only thing that keeps me from giving them a "5" on the scale is that teller server is very slow. The reason for that is the system they use has many checks and balances to make sure they are correct in all transactions. That part of it is much slower than any other place we have banked with. However, all of the other positives outweigh a bit of a lengthier transaction time and we love our bank!



Health

Data for Q1 2014

Institution Health

B+

Texas Ratio

GRADE:
B+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 CP Credit Union had $5.34 million in non-current loans and owned real-estate with $43.73 million in equity and loan loss allowances on hand to cover it. This gives CP Credit Union a Texas Ratio of 12.22% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for CP Credit Union experienced no significant changes from 8.72% as of March 31, 2013 to 12.22% as of March 31, 2014, resulting in a negative change of 40.20%. This indicates that the balance sheet and financial strength for CP Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
B+

In the past year, CP Credit Union has increased its total deposits by $8.26 million, resulting in 2.52% 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 CP Credit Union has shown is above average.

Capitalization

GRADE:
A

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. CP Credit Union has $393.5 million in assets with $43.73 million in equity, resulting in a capitalization level of 11.11%, which is excellent.

Institution Statistics

Overall
NCUA #8667
Year Chartered1953
Employees141
Primary Regulator
Assets and Liabilities
Assets$393.50 million
Loans$283.83 million
Deposits$336.09 million
Equity Capital$40.39 million
Loan Loss Allowance$3.34 million
Unbacked Noncurrent Loans$4.23 million
Real Estate Owned$1.11 million
Historic Data - March 2013
Assets$379.38 million
Equity Capital$36.95 million
Loan Loss Allowance$2.25 million
Unbacked Noncurrent Loans$4.23 million
Real Estate Owned$1.93 million
Profit Margin - Quarterly
Net Interest Margin1.31%
Return on Assets0.51%
Return on Equity4.92%
Interest Income$4.27 million
Rates

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

CP Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%-$10kKasasa Savings - Qualifying
0.35%--Christmas Club
0.35%--Vacation Club
0.25%--IRA Share
0.25%--Roth IRA Share
0.10%--Regular Shares
0.10%--Business Savings
0.10%--CP Money Tree
0.10%--Shares Pledged
0.05%--Kasasa Savings - Non Qualifying

CP Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$50k-Super Cash

CP Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
2.50%-$10kKasasa Cash - Qualifying
0.10%--Business Checking
0.10%--Golden Power Checking Account
0.05%--Kasasa Cash - Non Qualifying

CP Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.30%$500-60 Month Share Certificate
1.00%$500-48 Month Share Certificate
0.90%$500-36 Month Share Certificate
0.60%$500-24 Month Share Certificate
0.60%$500-30 Month Share Certificate
0.35%$500-18 Month Share Certificate
0.30%$500-12 Month Share Certificate
0.20%$500-6 Month Share Certificate
0.15%$500-3 Month Share Certificate

CP Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.30%$500-60 Month IRA Certificate
1.00%$500-48 Month IRA Certificate
0.90%$500-36 Month IRA Certificate
0.60%$500-24 Month IRA Certificate
0.60%$500-30 Month IRA Certificate
0.35%$500-18 Month IRA Certificate
0.30%$500-12 Month IRA Certificate
0.20%$500-6 Month IRA Certificate
Locations


CP Credit Union Locations
Branch Office1210 W Parnall RdJackson, MI 49201-7012
Branch Office1 Energy Plaza DrJackson, MI 49201-2357
Branch Office145 Wamplers Lake RdBrooklyn, MI 49230-9585
Branch Office121 W Main StParma, MI 49269-8904
Branch Office143 W Michigan AveJackson, MI 49201-1303
Branch Office103 E Kipp RdMason, MI 48854-8202
Branch Office2055 Spring Arbor RdJackson, MI 49203
Branch Office1100 Clinton RdJackson, MI 49202-2060