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Overview / Commentary
600 W Wackerly St
Midland, MI 48640-4702

Members First CU (MI) is headquartered in Midland and is the 34th largest credit union in the state of Michigan. It is also the 649th largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 113 employees and 42,753 members. Members First CU (MI) has a A health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, or attend school or post-high school in the following Michigan counties: Midland, Clare, Gladwin, Isabella, Gratiot, Saginaw, or Bay. Also qualified to join are employees of this credit union, immediate family members of existing Members First Credit Union members, and spouses of deceased members at any time prior to remarriage. Likewise, any person over the age of 55 who receives a retirement annuity, pension, social security, or similar retirement payment from private or government sources, and lives in, or belongs to, a retirement organization located in the county or in a county contiguous to the county where the credit union’s main office is located also qualify for membership. - See Details

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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 Members First CU (MI) had $817,000 in non-current loans and owned real-estate with $35.39 million in equity and loan loss allowances on hand to cover it. This gives Members First CU (MI) a Texas Ratio of 2.31% 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 Members First CU (MI) decreased dramatically from 3.45% as of March 31, 2013 to 2.31% as of March 31, 2014, resulting in a positive change of 33.08%.This indicates that the balance sheet and financial strength for Members First CU (MI) has improved dramatically in recent periods.

Deposit Growth


In the past year, Members First CU (MI) has increased its total deposits by $5.4 million, resulting in 1.87% 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 Members First CU (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. Members First CU (MI) has $330.79 million in assets with $35.39 million in equity, resulting in a capitalization level of 10.70%, which is above average.

Institution Statistics

NCUA #62076
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$330.79 million
Loans$179.28 million
Deposits$294.52 million
Equity Capital$34.43 million
Loan Loss Allowance$956,000
Unbacked Noncurrent Loans$745,000
Real Estate Owned$72,000
Historic Data - March 2013
Assets$322.65 million
Equity Capital$32.89 million
Loan Loss Allowance$1.11 million
Unbacked Noncurrent Loans$745,000
Real Estate Owned$6,000
Profit Margin - Quarterly
Return on Assets0.34%
Return on Equity3.31%
Interest Income$2.62 million
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Members First CU (MI) Savings Account Rates

0.35%$100k-Super High Yield Savings
0.35%$100k-IRA Super High Yield Savings
0.35%$100k-Roth IRA Super High Yield Savings
0.35%$100k-CESA Super High Yield Savings
0.20%$2,500-High Yield Savings
0.20%$2,500-IRA High Yield Savings
0.20%$2,500-Roth IRA High Yield Savings
0.20%$2,500-CESA High Yield Savings
0.15%--Regular Shares
0.15%--Kid's Club Savings
0.15%--Student Club Savings
0.15%--Christmas Club
0.15%--Special Savings
0.15%--IRA Savings
0.15%--Roth IRA Savings
0.15%--CESA Savings

Members First CU (MI) Checking Account Rates

0.35%$250k-Premier Business Checking
0.15%$10k-Premier Checking Package
0.05%$1k-eChecking Package
0.05%$1k-Advantage 60 Checking Package

Members First CU (MI) CD Rates

1.60%$1k-60 Month CD
1.60%$100-60 Month Youth CD
1.25%$1k-48 Month CD
1.25%$100-48 Month Youth CD
1.00%$1k-36 Month CD
1.00%$100-36 Month Youth CD
0.85%$1k-27 Month CD Special
0.85%$100-27 Month Youth CD Special
0.70%$1k-24 Month CD
0.70%$100-24 Month Youth CD
0.55%$1k-15 Month CD Special
0.55%$100-15 Month Youth CD Special
0.45%$1k-12 Month CD
0.45%$100-12 Month Youth CD
0.35%$1k-44 Week CD Special
0.35%$100-44 Week Youth CD Special
0.30%$1k-6 Month CD
0.30%$100-6 Month Youth CD

Members First CU (MI) IRA Rates

1.60%$1k-60 Month IRA
1.25%$1k-48 Month IRA
1.00%$1k-36 Month IRA
0.85%$1k-27 Month IRA Special
0.70%$1k-24 Month IRA
0.55%$1k-15 Month IRA Special
0.45%$1k-12 Month IRA
0.35%$1k-44 Week IRA Special
0.30%$1k-6 Month IRA

Members First CU (MI) Locations
Branch Office650 W 5th StClare, MI 48617
Branch Office4490 E Blue Grass RdMt Pleasant, MI 48858
Branch Office600 W Wackerly StMidland, MI 48640-4702
Branch Office1291 W Cedar AveGladwin, MI 48624
Branch Office3641 N Clare AveHarrison, MI 48625
Branch Office201 E 7th StEvart, MI 49631-8312
Branch Office4976 E Broadway StMt Pleasant, MI 48858-2995
Branch Office400 Dartmouth DrMidland, MI 48640