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Overview / Commentary
1011 N Michigan Ave
Saginaw, MI 48602-4326

Family First CU (MI) is headquartered in Saginaw and is the 120th largest credit union in the state of Michigan. It is also the 1,804th largest credit union in the nation. It was established in 1939 and as of March of 2014, it had grown to 20 employees and 7,065 members. Family First CU (MI)'s savings rates are 3X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must live, works, worships or attends school in Saginaw, Bay, Midland or Genesee 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 First CU (MI) 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 First CU (MI) had $836,000 in non-current loans and owned real-estate with $7.79 million in equity and loan loss allowances on hand to cover it. This gives Family First CU (MI) a Texas Ratio of 10.73% 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 First CU (MI) experienced no significant changes from 11.01% as of March 31, 2013 to 10.73% as of March 31, 2014, resulting in a positive change of 2.57%.This indicates that the balance sheet and financial strength for Family First CU (MI) has had no significant changes in recent periods.

Deposit Growth


In the past year, Family First CU (MI) has increased its total deposits by $4.09 million, resulting in 6.37% 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 $76.84 million in assets with $7.79 million in equity, resulting in a capitalization level of 10.14%, which is above average.

Institution Statistics

NCUA #61909
Year Chartered1939
Primary Regulator
Assets and Liabilities
Assets$76.84 million
Loans$49.81 million
Deposits$68.23 million
Equity Capital$7.54 million
Loan Loss Allowance$253,000
Unbacked Noncurrent Loans$721,000
Real Estate Owned$115,000
Historic Data - March 2013
Assets$73.02 million
Equity Capital$7.92 million
Loan Loss Allowance$169,000
Unbacked Noncurrent Loans$721,000
Real Estate Owned$179,000
Profit Margin - Quarterly
Return on Assets0.28%
Return on Equity2.81%
Interest Income$665,000

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Family First CU (MI) Savings Account Rates

1.75%--Coverdell ESA Share
0.35%$50k-IRA Passbook Account
0.10%--Youth Savings
0.10%$10k-Adult Savings
0.05%--Christmas Club

Family First CU (MI) Money Market Rates

0.40%$100k-Money Market w/ Active Checking Account & Direct Deposit
0.20%$100k-Money Market w/o Active Checking Account & Direct Deposit

Family First CU (MI) Checking Account Rates

0.20%$100k-Business Checking
0.15%$50k-Checking Account

Family First CU (MI) CD Rates

2.25%$500-4 Month Youth CD
1.75%$1k-60 Month CD
1.50%$1k-48 Month CD
1.25%$1k-36 Month CD
1.05%$1k-24 Month CD
0.75%$500-18 Month CD
0.60%$500-12 Month CD
0.50%$500-6 Month CD
0.35%$500-3 Month CD

Family First CU (MI) IRA Rates

1.75%$1k-60-Month IRA
1.75%$1k-60-Month Roth IRA
1.50%$1k-48-Month IRA
1.50%$1k-48-Month Roth IRA
1.25%$1k-36-Month IRA
1.25%$1k-36-Month Roth IRA
1.05%$1k-24-Month IRA
1.05%$1k-24-Month Roth IRA
0.60%$1k-12-Month IRA
0.60%$1k-12-Month Roth IRA

Family First CU (MI) Locations
Branch Office6900 Midland RdFreeland, MI 48623-8759
Branch Office1011 N Michigan AveSaginaw, MI 48602-4326
Branch Office3550 Tittabawassee RdSaginaw, MI 48604-9428