Michigan Educational Credit Union

Michigan Educational Credit Union is headquartered in PLYMOUTH and is the 12^st largest credit union in the state of Michigan. It is also the 316^st largest credit union in the nation. It was established in 1942 and as of December of 2011, it had grown to 76 employees and 48,808 members. Michigan Educational Credit Union's savings rates are 25% higher than the national average, and it boasts a 5-star health rating.

Michigan Educational Credit Union Checking Account Rates

Michigan Educational Credit Union Savings Account Rates

Michigan Educational Credit Union CD Rates

Michigan Educational Credit Union IRA Rates

Data for Q4 2011

Institution Statistics MICHIGAN EDUCATIONAL NCUA # 60931 BankRate Report View Year Chartered 1942 Employees 76 Primary Regulator Assets and Liabilities Assets $621.98 million Loans $323.05 million Deposits $537.95 million Equity Capital $78.41 million Loan Loss Allowance $2.99 million Unbacked Noncurrent Loans $2.01 million Real Estate Owned $68,000 Historic Data - December 2010 Assets $595.79 million Equity Capital $77.38 million Loan Loss Allowance $2.72 million Unbacked Noncurrent Loans $1.54 million Real Estate Owned $230,000 Profit Margin - Quarterly Net Interest Margin 5.2% Return on Assets 0.06% Return on Equity 0.46% Interest Income $19.73 million Non-Interest Income $2.77 million

Institution Health Overall Score: 5 out of 5 Texas Ratio 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, 2011 Michigan Educational Credit Union had $2.07 million in non-current loans and owned real-estate with $81.4 million in equity and loan loss allowances on hand to cover it. This gives Michigan Educational Credit Union a Texas Ratio of 2.55% 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 Michigan Educational Credit Union held steady from 2.21% as of December 31, 2010 to 2.55% as of December 31, 2011, resulting in a negative change of 15.11%. This indicates that the balance sheet and financial strength for Michigan Educational Credit Union has held steady in recent periods. Deposit Growth In the past year, Michigan Educational Credit Union has increased its total deposits by $25.63 million, resulting in 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 Michigan Educational Credit Union has shown is excellent. Capitalization 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. Michigan Educational Credit Union has $621.98 million in assets with $81.4 million in equity, resulting in a capitalization level of 13.09%, which is excellent.

No reviews have been left for this bank yet. Be the first to review.