Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts
Overview / Commentary
586-263-8800
40400 Garfield Road
Clinton Townshi, MI 48038

Michigan Schools And Government Credit Union is headquartered in Clinton Townshi and is the 7th largest credit union in the state of Michigan. It is also the 127th largest credit union in the nation. It was established in 1954 and as of December of 2013, it had grown to 230 employees and 86,238 members. Michigan Schools And Government Credit Union's savings rates are 15% higher than the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Membership is open to employees and members of several organizations located within 25 miles of the credit union's offices. Also eligible to join are relatives of individuals who are members or who are eligible to be members. Please see the credit union's Membership page for the full details. Membership requires a minimum deposit of $5 into the savings account. - See Details

Related Posts



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



Health

Data for Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

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 Michigan Schools And Government Credit Union had $9.38 million in non-current loans and owned real-estate with $165.1 million in equity and loan loss allowances on hand to cover it. This gives Michigan Schools And Government Credit Union a Texas Ratio of 5.68% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Michigan Schools And Government Credit Union experienced no significant changes from 5.94% as of December 31, 2012 to 5.68% as of December 31, 2013, resulting in a positive change of 4.33%.This indicates that the balance sheet and financial strength for Michigan Schools And Government Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Michigan Schools And Government Credit Union has increased its total deposits by $125.35 million, resulting in 11.51% 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 Schools And Government Credit Union has shown is excellent.

Capitalization

GRADE:
A

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 Schools And Government Credit Union has $1.44 billion in assets with $165.1 million in equity, resulting in a capitalization level of 11.49%, which is excellent.

Institution Statistics

Overall
NCUA #62049
Year Chartered1954
Employees230
Primary Regulator
Assets and Liabilities
Assets$1.44 billion
Loans$1.02 billion
Deposits$1.21 billion
Equity Capital$149.32 million
Loan Loss Allowance$15.78 million
Unbacked Noncurrent Loans$8.26 million
Real Estate Owned$1.12 million
Historic Data - December 2012
Assets$1.23 billion
Equity Capital$134.89 million
Loan Loss Allowance$15.21 million
Unbacked Noncurrent Loans$8.26 million
Real Estate Owned$907,000
Profit Margin - Quarterly
Net Interest Margin3.9%
Return on Assets1%
Return on Equity9.66%
Interest Income$46.27 million
Rates
Skip to rates for:

Always verify rates and promotions with the bank or credit union. We are not Michigan Schools And Government Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Michigan Schools And Government Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.60%--Health Savings Account
0.45%$90k-Gold Share Account
0.30%$40k-Silver Share Account
0.30%--IRA Account
0.30%--SEP IRA Account
0.30%--CESA Account
0.30%--Roth IRA Account
0.25%--Holiday Club
0.15%--Regular Share
0.15%--You-Name-It Share Account
0.15%$100-Business Savings Account

Michigan Schools And Government Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.25%$250k-Business Checking
0.20%$25k-Money Market Checking

Michigan Schools And Government Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.80%$500-5 Year CD
1.40%$500-4 Year CD
1.40%$500-32 Month CD
1.20%$500-3 Year CD
1.00%$500-2 Year CD
0.74%$500-16 Month CD
0.70%$250-2 Year Grow with Me CD
0.65%$500-1 Year CD
0.40%$500-6 Month CD
0.40%$250-1 Year Grow with Me CD
0.25%$250-6 Month Grow with Me CD

Michigan Schools And Government Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.80%$500-5 Year IRA (Traditional,Roth,CESA,SEP)
1.40%$500-4 Year IRA (Traditional,Roth,CESA,SEP)
1.40%$500-32 Month IRA (Traditional,Roth,CESA,SEP)
1.20%$500-3 Year IRA (Traditional,Roth,CESA,SEP)
1.00%$500-2 Year IRA (Traditional,Roth,CESA,SEP)
0.74%$500-16 Month IRA (Traditional,Roth,CESA,SEP)
0.65%$500-1 Year IRA (Traditional,CESA,Roth,SEP)
0.40%$500-6 Month IRA (Traditional,CESA,Roth,SEP)
Locations

Michigan Schools And Government Credit Union has 11 locations. Click to view all Michigan Schools And Government Credit Union locations.