3 star ratingAverage User Rating:
3 star rating based on 2 reviews.

Our Credit Union

Our Credit Union Locations
3070 Normandy Rd
Royal Oak, MI 48073
248.549.3838
www.ourcuonline.org

NCUA


Our Credit Union is headquartered in Royal Oak and is the 48th largest credit union in the state of Michigan. It is also the 869th largest credit union in the nation. It was established in 1959 and as of March of 2013, it had grown to 57 employees and 22,055 members. Our Credit Union has a 5-star health rating.

Our Credit Union Routing Number: 272484373

Related Posts

4.00% 15-Month CD at a Michigan CU (Our Credit Union). - 4/10/2008

Update 4/19/08: The special CD has ended.Our Credit Union is offering a special 4.00% APY 15-month certificate. The minimum deposit is $500.Membership is open to any person who lives, works, worships or attends school in Oakland or Macomb County, MI. You...



See Rates for: Savings | Money Market | CD | IRA

Our Credit Union Savings Account Rates

ApyMinMaxProduct
0.10%--Traditional IRA
0.10%--Roth IRA
0.10%--Coverdell Educational IRA
0.10%--Health Savings Account
0.10%$1k-50+ Savings Account
0.05%$100-Primary Share Savings
0.05%$100-Side Shares
0.05%$100-Holiday Spending
0.05%--Oakey Dokey

Our Credit Union Money Market Rates

ApyMinMaxProduct
0.20%$100k-Money Market

Our Credit Union CD Rates

ApyMinMaxProduct
1.00%$500-60 Month Term Share Certificate
0.80%$500-48 Month Term Share Certificate
0.70%$500-36 Month Term Share Certificate
0.50%$500-24 Month Term Share Certificate
0.40%$500-12 Month Term Share Certificate
0.40%$500-18 Month Term Share Certificate
0.20%$500-6 Month Term Share Certificate

Our Credit Union IRA Rates

ApyMinMaxProduct
1.00%$500-5 Year Term Share IRA
1.00%$500-60 Month Term Share Roth IRA
0.80%$500-4 Year Term Share IRA
0.70%$500-3 Year Term Share IRA
0.70%$500-36 Month Term Share Roth IRA
0.50%$500-24 Month Coverdell Educational IRA
0.50%$500-2 Year Term Share IRA
0.50%$500-24 Month Term Share Roth IRA
0.40%$500-1 Year Term Share IRA
0.40%$500-12 Month Term Share Roth IRA

Rates updated: 6/18/2013

Data for Q1 2013


Institution Statistics


OUR
NCUA #62028
BankRate ReportView
Year Chartered1959
Employees57
Primary Regulator

Assets and Liabilities

Assets$213.43 million
Loans$88.94 million
Deposits$192.32 million
Equity Capital$18.44 million
Loan Loss Allowance$1.65 million
Unbacked Noncurrent Loans$578,000
Real Estate Owned$61,000

Historic Data - March 2012

Assets$211.53 million
Equity Capital$16.37 million
Loan Loss Allowance$1.79 million
Unbacked Noncurrent Loans$1.38 million
Real Estate Owned$72,000

Profit Margin - Quarterly

Net Interest Margin1.14%
Return on Assets1.04%
Return on Equity12.06%
Interest Income$1.37 million
Non-Interest Income$1.18 million

Institution Health


Overall Score:
5 out of 5
5
Texas Ratio5
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 March 31, 2013 Our Credit Union had $639,000 in non-current loans and owned real-estate with $20.09 million in equity and loan loss allowances on hand to cover it. This gives Our Credit Union a Texas Ratio of 3.18% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend5
The Texas Ratio for Our Credit Union decreased significantly from 8.02% as of March 31, 2012 to 3.18% as of March 31, 2013, resulting in a positive change of 60.33%.This indicates that the balance sheet and financial strength for Our Credit Union has improved significantly in recent periods.
Deposit Growth3
In the past year, Our Credit Union has increased its total deposits by $752,000, resulting in 0.39% 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 Our Credit Union has shown is average.
Capitalization3
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. Our Credit Union has $213.43 million in assets with $20.09 million in equity, resulting in a capitalization level of 9.41%, which is average.
Write Review

Bank Fee For Car Loan
1 stars - Anonymous - Wednesday, August 17, 2011 - 12:29 PM

Do not use this bank! They have the worst customer service for a bank I have ever experienced. You are only an account number to them, and all they care about is making money on fees. After having a car loan paid off, I was contacted by the collection services on a stop payment fee of $25.00. I had stopped my payment because my loan would be paid off before my payment would be processed, and when calling the bank I was told they would not send me a check for the difference if they received the payment. Rather, I would have to go to the branch. So, now I have to pay them the fee plus extra for some interest. They are rude on the phone, and don't care about you as a customer. Go somewhere else if you can.

1

Great Service!
5 stars - Dru - Monday, May 30, 2011 - 10:34 AM

I have been a member of this bank for 12 years. Through thick and thin in today's economy, they have always provided excellent service and even helped me in securing a loan when I needed it. Their knowledgeable staff help me whenever I have any questions or inquiries about my account. Five stars, all around!

1