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Overview / Commentary
400 E 9 Mile Rd
Ferndale, MI 48220

Credit Union One (MI) is headquartered in Ferndale and is the 10st largest credit union in the state of Michigan. It is also the 274th largest credit union in the nation. It was established in 1938 and as of March of 2014, it had grown to 257 employees and 111,079 members. Credit Union One (MI) has a B+ health rating.

Field of Membership Restrictions

Field of Membership is open to everyone. - See Details

Reviews (5)

Horrible Bank With Terrible Customer Service And Even Worse Policies.

This is a very non personable bank, horrible customer service, poor member relations and they change policies with out proper notifications.  After being a loyal member for over 10 years, this bank had declined horribly in the past year, I am just amazed at the lack of consideration for their members.  

Customer For Close To 30 Years Ready To Leave

Like most people I am underwater in my mortgage. CUO will not work with me at all because I can still afford the payments. All I am asking for is to refinance. If I can make the payment at 6.5% why wouldn't I be able to make it at 4%. There fee structure changes all the time. Out of state checks get a 10 day hold? Really? It is 2011 you can get the money for that check in minutes and you have a 10 day hold? They won't link accounts by household for minimum balance requirements. I could go on and on. Bottom line they went from a nice local credit union in 1983 when I joined to a typical bank with horrible customer service and ridiclious polices. 

Is It Just Me Or There Are Many Of Us?

I am new to the place and there is a credit union one bank in the place where I work, Royal Oak. So thinking it is near and "local" I opened an account there. They even offered me a credit card so called "preapproved". So as I was new and had to develop credit history I thought that was a  good opportunity for me. I have waited for 2 months now just to hear that My application crossed 30 days and has expired, so I need to reapply now. I went to them couple of times within the 2 months  in order to inquire about the application and got a ready made answer that it takes 4-6 weeks in order to approve and once it crossed 4-6 weeks they say I have to reapply again as it has crossed 30 days. Poor me! and I follow them blindly as I need a credit card. I now wish if only they hadn't offered me any card ,I would not have gone through this or I would have tried at other places or for a credit card with safety deposit.


I agree w/ others.  I am in the process of refinancing, and am getting horrible customer service.  Hoping that things work out as they have terms other  banks don't.  Their terms set them apart in a good way, but their customer service is no different than other banks.  Wish me luck!

POOR CUSTOMER SERVICE & Extremely High Rates To Refinance

My husband and I are in the works to refinance our home so we have been calling multiple banks and I have to say I have had the worst experience with Credit Union One MI. I called in and the lady said oh hang up and apply online (why couldnt she just help me since I had her on the line I will nerver know). So I proceeded to apply online, I get almost to the end and tha rates that come up are 4.00% Rate, and 4.865% APR Estimated Cash Required at Closing of $5,444.67 dollars, but another screen says $2,258.10. So with conflicting numbers that are confusing to the average person I call back in to the Mortgage line, I get a lady named Caroll on the line and she is unbelievably rude, I would mention the numbers that conflicted and her response would be I cannot see whats on your screen (WOW! there is some stellar customer service skills), she than barely helps me and when I told her that their fees seem very high she hung up on me (WOW! again). So now having wasted much time I am very irritated, so I call back in to file a complaint, this time I am transferred 3 times and spoke to one person who was not with Credit Union One but another mortgage company who does Mortgages on behalf of them, so she is unable to take the complaint nor help further with the questions I still had about my application. She than transfers me back to Credit Union One, I am transferred again a few times and than finally speak with Mike, he was pleasant but I did not get the sense that he gave much thought or concern to the complaint I had about Carol. He attempted to answer my loan questions but at this point I dont really care to do business with Credit Union One MI and am now tempted to try and get my car loan away from them as well. Why do I hear high regards to Credit Union One, I will forever wonder. So dissapointed!!!!!!!!!!! 


Data for Q1 2014

Institution Health


Texas Ratio


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 Credit Union One (MI) had $6.78 million in non-current loans and owned real-estate with $82.83 million in equity and loan loss allowances on hand to cover it. This gives Credit Union One (MI) a Texas Ratio of 8.18% 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 Credit Union One (MI) experienced no significant changes from 8.25% as of March 31, 2013 to 8.18% as of March 31, 2014, resulting in a positive change of 0.77%.This indicates that the balance sheet and financial strength for Credit Union One (MI) has had no significant changes in recent periods.

Deposit Growth


In the past year, Credit Union One (MI) has increased its total deposits by $15.16 million, resulting in 2.07% 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 Credit Union One (MI) has shown is above average.



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. Credit Union One (MI) has $831.98 million in assets with $82.83 million in equity, resulting in a capitalization level of 9.96%, which is above average.

Institution Statistics

NCUA #62562
Year Chartered1938
Primary Regulator
Assets and Liabilities
Assets$831.98 million
Loans$675.33 million
Deposits$746.30 million
Equity Capital$75.50 million
Loan Loss Allowance$7.34 million
Unbacked Noncurrent Loans$5.99 million
Real Estate Owned$786,000
Historic Data - March 2013
Assets$808.23 million
Equity Capital$67.37 million
Loan Loss Allowance$10.12 million
Unbacked Noncurrent Loans$5.99 million
Real Estate Owned$69,000
Profit Margin - Quarterly
Return on Assets1.15%
Return on Equity12.71%
Interest Income$6.53 million

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Credit Union One (MI) Savings Account Rates

0.15%--IRA Savings
0.15%--Roth IRA Savings
0.15%--Coverdell Education Savings
0.05%--Nickname Savings
0.05%--Business Savings

Credit Union One (MI) Money Market Rates

0.30%$100k-Insured Money Market
0.30%$100k-Business Insured Money Market

Credit Union One (MI) Checking Account Rates

0.10%$10k-Cash Back Checking
0.05%$100-Business Interest Checking

Credit Union One (MI) CD Rates

1.00%$100k-60 Month CD
1.00%$100k-Business 60 Month CD
0.85%$100k-48 Month CD
0.85%$100k-Business 48 Month CD
0.75%$100k-36 Month CD
0.75%$100k-Business 36 Month CD
0.60%$100k-24 Month CD
0.60%$100k-Business 24 Month CD
0.40%$100k-18 Month CD
0.40%$100k-Business 18 Month CD
0.35%$100k-12 Month CD
0.35%$100k-Business 12 Month CD
0.25%$100k-6 Month CD
0.25%$100k-Business 6 Month CD
0.20%$100k-3 Month CD
0.20%$100k-Business 3 Month CD

Credit Union One (MI) IRA Rates

1.00%$100k-60 Month IRA
0.85%$100k-48 Month IRA
0.75%$100k-36 Month IRA
0.60%$100k-24 Month IRA
0.40%$100k-18 Month IRA
0.35%$100k-12 Month IRA
0.25%$100k-6 Month IRA
0.20%$100k-3 Month IRA

Credit Union One (MI) has 17 locations. Click to view all Credit Union One (MI) locations.