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Overview / Commentary
989-791-7070
P.O. Box 6160
Saginaw, MI 48608

Saginaw Medical Federal Credit Union is headquartered in SAGINAW and is the 81st largest credit union in the state of Michigan. It is also the 1,353rd largest credit union in the nation. It was established in 1970 and as of December of 2013, it had grown to 26 employees and 11,775 members. Saginaw Medical Federal Credit Union's savings rates are 4X the national average, and it has a A health rating.

Field of Membership Restrictions

Eligible if you are employed by, retired from or provide volunteer services to any business connected with the health care field in the Saginaw area. - See Details

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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 Saginaw Medical Federal Credit Union had $273,000 in non-current loans and owned real-estate with $12.67 million in equity and loan loss allowances on hand to cover it. This gives Saginaw Medical Federal Credit Union a Texas Ratio of 2.15% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A

The Texas Ratio for Saginaw Medical Federal Credit Union decreased dramatically from 3.31% as of December 31, 2012 to 2.15% as of December 31, 2013, resulting in a positive change of 34.93%.This indicates that the balance sheet and financial strength for Saginaw Medical Federal Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B

In the past year, Saginaw Medical Federal Credit Union has increased its total deposits by $588,000, resulting in 0.58% 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 Saginaw Medical Federal Credit Union has shown is above average.

Capitalization

GRADE:
B+

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. Saginaw Medical Federal Credit Union has $115.79 million in assets with $12.67 million in equity, resulting in a capitalization level of 10.94%, which is above average.

Institution Statistics

Overall
NCUA #20007
Year Chartered1970
Employees26
Primary Regulator
Assets and Liabilities
Assets$115.79 million
Loans$42.26 million
Deposits$102.66 million
Equity Capital$12.37 million
Loan Loss Allowance$303,000
Unbacked Noncurrent Loans$273,000
Real Estate Owned$0
Historic Data - December 2012
Assets$114.41 million
Equity Capital$11.74 million
Loan Loss Allowance$403,000
Unbacked Noncurrent Loans$273,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin5.64%
Return on Assets0.59%
Return on Equity5.5%
Interest Income$3.36 million
Rates
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Saginaw Medical Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
2.00%--Young Savers
1.26%$50k-IRA Savings
0.30%$100k-MONEYPlus
0.30%$100k-Business Savings Plus
0.05%$250$2,500Regular Savings
0.05%$250$2,500Christmas Club
0.05%$250$2,500Vacation Club
0.05%$250$2,5002nd Savings
0.05%$250$2,500Business Savings

Saginaw Medical Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.00%-$25kRewards Checking
0.05%$10k-Rewards Checking
0.05%$10k-Checking
0.05%$10k-Business Checking Plus

Saginaw Medical Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
4.00%$500$7007 Month Youth Certificate Special
0.75%$500-36 Month CD
0.60%$500-24 Month CD
0.45%$500-12 Month CD
0.30%$500-6 Month CD

Saginaw Medical Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
0.75%$500-36 Month IRA
0.60%$500-24 Month IRA
0.45%$500-12 Month IRA
0.30%$500-6 Month IRA
Locations


Saginaw Medical Federal Credit Union Locations
Branch Office1430 N MICHIGAN AveSAGINAW, MI 48602-4734
Branch Office4550 STATE STSAGINAW, MI 48603