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150 Ann St NW
Grand Rapids, MI 49505-6244

Fedcom Credit Union is headquartered in Grand Rapids and is the 144th largest credit union in the state of Michigan. It is also the 2,209th largest credit union in the nation. It was established in 1925 and as of March of 2014, it had grown to 19 employees and 6,851 members. Fedcom Credit Union's savings rates are 6X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Must live, work, worship or attend school in Kent, Ottawa, Muskegon or Allegan County, Michigan. - See Details

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Reviews (1)

Unhappy Customer

This is an horrible establishment. I disputed an unauthorized charge a month ago. I was finally advised it would take up to two months for the results. Then I later found out that I was also being charged .50 cents every time I used my card. The employee Joan forgot to ask for a signature and sent me an email pretty much telling me how I don't listen and it's MY fault that she watched me not sign a form. I'M GOING TO CHASE!!!


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. Fedcom 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 Fedcom Credit Union had $180,000 in non-current loans and owned real-estate with $6.45 million in equity and loan loss allowances on hand to cover it. This gives Fedcom Credit Union a Texas Ratio of 2.79% 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 Fedcom Credit Union experienced no significant changes from 2.14% as of March 31, 2013 to 2.79% as of March 31, 2014, resulting in a negative change of 30.74%. This indicates that the balance sheet and financial strength for Fedcom Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Fedcom Credit Union has increased its total deposits by $1.61 million, resulting in 3.5% 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 Fedcom 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. Fedcom Credit Union has $54.06 million in assets with $6.45 million in equity, resulting in a capitalization level of 11.93%, which is excellent.

Institution Statistics

NCUA #62096
Year Chartered1925
Primary Regulator
Assets and Liabilities
Assets$54.06 million
Loans$33.84 million
Deposits$47.62 million
Equity Capital$6.14 million
Loan Loss Allowance$310,000
Unbacked Noncurrent Loans$180,000
Real Estate Owned$0
Historic Data - March 2013
Assets$51.94 million
Equity Capital$5.66 million
Loan Loss Allowance$334,000
Unbacked Noncurrent Loans$180,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.47%
Return on Assets0.84%
Return on Equity7.37%
Interest Income$559,000
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Fedcom Credit Union Savings Account Rates

3.29%$100-Health Savings Account
3.29%$100-Coverdell Education Savings IRA
0.50%$100-IRA Share Account
0.50%$100-Roth IRA Share Account
0.40%$100-Holiday Club Account 2013
0.10%$100-Regular Share
0.10%$100-Vacation Share Account

Fedcom Credit Union Money Market Rates

0.50%$50k-High Yield Money Market Account

Fedcom Credit Union CD Rates

1.87%$500-60 Month CD
1.46%$500-48 Month CD
1.01%$500-36 Month CD
1.01%$100$5003 Month Kid's Club CD
0.75%$500-24 Month CD
0.75%$500-30 Month CD
0.60%$500-12 Month CD
0.60%$500-18 Month CD
0.45%$500-6 Month CD

Fedcom Credit Union IRA Rates

1.87%$500-60 Month IRA
1.46%$500-48 Month IRA
1.01%$500-36 Month IRA
0.75%$500-24 Month IRA
0.75%$500-30 Month IRA
0.60%$500-12 Month IRA
0.60%$500-18 Month IRA
0.45%$500-6 Month IRA

Fedcom Credit Union Locations
Branch Office7565 Cottonwood DrJenison, MI 49428-8355
Branch Office2329 44th St SEGrand Rapids, MI 49508-5015
Branch Office150 Ann St NWGrand Rapids, MI 49505-6244