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Overview / Commentary
3575 Henry St
Norton Shores, MI 49441

Family Financial Credit Union is headquartered in Norton Shores and is the 99th largest credit union in the state of Michigan. It is also the 1,565th largest credit union in the nation. It was established in 1959 and as of March of 2014, it had grown to 22 employees and 14,655 members. Family Financial Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Muskegon, Ottawa, Oceana, Mason or Newaygo County. - See Details

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Data for Q1 2014

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. Family Financial Credit Union has a relatively low asset base.

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 Family Financial Credit Union had $414,000 in non-current loans and owned real-estate with $13.03 million in equity and loan loss allowances on hand to cover it. This gives Family Financial Credit Union a Texas Ratio of 3.18% 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 Family Financial Credit Union decreased slightly from 4.15% as of March 31, 2013 to 3.18% as of March 31, 2014, resulting in a positive change of 23.40%.This indicates that the balance sheet and financial strength for Family Financial Credit Union has improved slightly in recent periods.

Deposit Growth


In the past year, Family Financial Credit Union has increased its total deposits by $3.62 million, resulting in 4.58% 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 Family 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. Family Financial Credit Union has $95.98 million in assets with $13.03 million in equity, resulting in a capitalization level of 13.57%, which is excellent.

Institution Statistics

NCUA #61633
Year Chartered1959
Primary Regulator
Assets and Liabilities
Assets$95.98 million
Loans$49.08 million
Deposits$82.69 million
Equity Capital$12.60 million
Loan Loss Allowance$430,000
Unbacked Noncurrent Loans$343,000
Real Estate Owned$71,000
Historic Data - March 2013
Assets$92.35 million
Equity Capital$12.45 million
Loan Loss Allowance$492,000
Unbacked Noncurrent Loans$343,000
Real Estate Owned$84,000
Profit Margin - Quarterly
Net Interest Margin1.12%
Return on Assets0.41%
Return on Equity3.14%
Interest Income$726,000
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Family Financial Credit Union Savings Account Rates

0.30%$25k-High Yield Savings Account
0.25%--Individual Retirement Account
0.25%--Roth IRA
0.25%--Coverdell Education Savings Account
0.10%$105-Regular Savings Account
0.10%--Christmas Club Account
0.10%--Dream Club Account
0.10%--Special Purpose Savings Account
0.10%--Earnie Youth Account

Family Financial Credit Union CD Rates

1.51%$25k-60 Month Jumbo CD
1.41%$500-60 Month CD
1.21%$25k-48 Month Jumbo CD
1.11%$500-48 Month CD
0.90%$25k-36 Month Jumbo CD
0.80%$500-36 Month CD
0.70%$25k-24 Month Jumbo CD
0.60%$500-24 Month CD
0.50%$25k-12 Month Jumbo CD
0.40%$500-12 Month CD
0.30%$500-6 Month CD
0.30%$100-6 Month CD Plus
0.25%$25-1 Year Save to Win CD
0.20%$500-3 Month CD

Family Financial Credit Union IRA Rates

1.51%$25k-60 Month Jumbo IRA Certificate
1.41%$500-60 Month IRA Certificate
1.21%$25k-48 Month Jumbo IRA Certificate
1.11%$500-48 Month IRA Certificate
0.90%$25k-36 Month Jumbo IRA Certificate
0.80%$500-36 Month IRA Certificate
0.70%$25k-24 Month Jumbo IRA Certificate
0.60%$500-24 Month IRA Certificate
0.50%$25k-12 Month Jumbo IRA Certificate
0.40%$500-12 Month IRA Certificate
0.30%$500-6 Month IRA Certificate
0.20%$500-3 Month IRA Certificate

Family Financial Credit Union Locations
Branch Office3575 Henry StNorton Shores, MI 49441
Branch Office4075 W Polk RdHart, MI 49420-8177
Branch Office1798 Holton RdN Muskegon, MI 49445-1473