Family First CU (MI) is headquartered in SAGINAW and is the 121st largest credit union in the state of Michigan. It is also the 1,805th largest credit union in the nation. It was established in 1939 and as of December of 2013, it had grown to 21 employees and 7,065 members. Family First CU (MI)'s savings rates are 3X the national average, and it has a B health rating.
Must live, works, worships or attends school in Saginaw, Bay, Midland or Genesee County. - See Details
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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 Family First CU (MI) had $923,000 in non-current loans and owned real-estate with $7.65 million in equity and loan loss allowances on hand to cover it. This gives Family First CU (MI) a Texas Ratio of 12.07% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Family First CU (MI) experienced no significant changes from 10.88% as of December 31, 2012 to 12.07% as of December 31, 2013, resulting in a negative change of 10.94%. This indicates that the balance sheet and financial strength for Family First CU (MI) has had no significant changes in recent periods.
In the past year, Family First CU (MI) has increased its total deposits by $3.12 million, resulting in 4.98% 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 First CU (MI) 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 First CU (MI) has $74.03 million in assets with $7.65 million in equity, resulting in a capitalization level of 10.33%, which is above average.
|Assets and Liabilities|
|Equity Capital||$7.36 million|
|Loan Loss Allowance||$286,000|
|Unbacked Noncurrent Loans||$801,000|
|Real Estate Owned||$122,000|
|Historic Data - December 2012|
|Equity Capital||$7.88 million|
|Loan Loss Allowance||$159,000|
|Unbacked Noncurrent Loans||$801,000|
|Real Estate Owned||$179,000|
|Profit Margin - Quarterly|
|Net Interest Margin||4.66%|
|Return on Assets||0.02%|
|Return on Equity||0.24%|
|Interest Income||$2.66 million|
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|1.75%||-||-||Coverdell ESA Share|
|0.35%||$50k||-||IRA Passbook Account|
|0.35%||$100k||-||Money Market w/ Active Checking Account & Direct Deposit|
|0.15%||$100k||-||Money Market w/o Active Checking Account & Direct Deposit|
|2.00%||$500||-||4 Month Youth CD|
|1.50%||$1k||-||60 Month CD|
|1.45%||$1k||-||48 Month CD|
|1.10%||$1k||-||36 Month CD|
|0.60%||$1k||-||24 Month CD|
|0.50%||$500||-||18 Month CD|
|0.45%||$500||-||12 Month CD|
|0.35%||$500||-||6 Month CD|
|0.25%||$500||-||3 Month CD|
|1.50%||$1k||-||60-Month IRA (Traditional,CESA)|
|1.50%||$1k||-||60-Month Roth IRA|
|1.45%||$1k||-||48-Month IRA (Traditional,CESA)|
|1.45%||$1k||-||48-Month Roth IRA|
|1.10%||$1k||-||36-Month IRA (Traditional,CESA)|
|1.10%||$1k||-||36-Month Roth IRA|
|0.60%||$1k||-||24-Month IRA (Traditional,CESA)|
|0.60%||$1k||-||24-Month Roth IRA|
|0.45%||$1k||-||12-Month IRA (Traditional,CESA)|
|0.45%||$1k||-||12-Month Roth IRA|
|Family First CU (MI) Locations|
|Branch Office||6900 Midland Rd||Freeland, MI 48623-8759|
|Branch Office||1011 N Michigan Ave||Saginaw, MI 48602-4326|
|Branch Office||3550 Tittabawassee Rd||Saginaw, MI 48604-9428|