2 star ratingAverage User Rating:
2 star rating based on 1 review.

United Financial Credit Union (MI)

United Financial Credit Union (MI) Locations
2510 Weiss St
Saginaw, MI 48602
(989) 799-5580
www.unitedfinancialcu.org

NCUA

United Financial Credit Union (MI) is headquartered in Saginaw and is the 56th largest credit union in the state of Michigan. It is also the 1,005th largest credit union in the nation. It was established in 1964 and as of December of 2012, it had grown to 42 employees and 19,033 members. United Financial Credit Union (MI) has a 5-star health rating.

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

United Financial Credit Union (MI) Checking Account Rates

ApyMinMaxProduct
1.01%-$25kDirect Rewards Checking
0.20%$100k-Share Draft Checking

United Financial Credit Union (MI) Savings Account Rates

ApyMinMaxProduct
0.25%$100k-Traditional IRA Account
0.25%$100k-Roth IRA Account
0.10%--Grand Account
0.05%--Savings Plus
0.05%--Special Savings
0.05%--Christmas Club

United Financial Credit Union (MI) Money Market Rates

ApyMinMaxProduct
0.25%$100k-Money Maker Savings

United Financial Credit Union (MI) CD Rates

ApyMinMaxProduct
1.50%$100$2k6 Month Youth CD
1.35%$500$100k60 Month CD w/Direct Rewards
1.25%$500$100k60 Month CD
1.20%$500$100k48 Month CD w/Direct Rewards
1.10%$500$100k48 Month CD
1.00%$500$100k36 Month Safe Parking CD w/Direct Rewards
0.90%$500$100k36 Month Safe Parking CD
0.90%$500$100k30 Month CD w/Direct Rewards
0.80%$500$100k30 Month CD
0.80%$500$100k24 Month CD w/Direct Rewards
0.70%$500$100k24 Month CD
0.70%$500$100k20 Month Step Up CD w/Direct Rewards
0.60%$500$100k20 Month Step Up CD
0.60%$500$100k18 Month CD w/Direct Rewards
0.50%$500$100k18 Month CD
0.35%$500$100k12 Month CD w/Direct Rewards
0.25%$500$100k12 Month CD
0.25%$500$100k6 Month CD w/Direct Rewards
0.25%$25-12 month Save to Win CD
0.20%$500$100k3 Month CD w/Direct Rewards
0.15%$500$100k6 Month CD
0.10%$500$100k3 Month CD

United Financial Credit Union (MI) IRA Rates

ApyMinMaxProduct
1.50%$100$2k6 Month Youth IRA
1.50%$100$2k6 Month Youth Roth IRA
1.35%$500$100k60 Month IRA w/Direct Rewards
1.35%$500$100k60 Month Roth IRA w/Direct Rewards
1.25%$500$100k60 Month IRA
1.25%$500$100k60 Month Roth IRA
1.20%$500$100k48 Month IRA w/Direct Rewards
1.20%$500$100k48 Month Roth IRA w/Direct Rewards
1.10%$500$100k48 Month IRA
1.10%$500$100k48 Month Roth IRA
1.00%$500$100k36 Month Safe Parking IRA w/Direct Rewards
1.00%$500$100k36 Month Safe Parking Roth IRA w/Direct Rewards
0.90%$500$100k30 Month IRA w/Direct Rewards
0.90%$500$100k36 Month Safe Parking IRA
0.90%$500$100k30 Month Roth IRA w/Direct Rewards
0.90%$500$100k36 Month Safe Parking Roth IRA
0.80%$500$100k24 Month IRA w/Direct Rewards
0.80%$500$100k30 Month IRA
0.80%$500$100k24 Month Roth IRA w/Direct Rewards
0.80%$500$100k30 Month Roth IRA
0.70%$500$100k20 Month Step Up IRA w/Direct Rewards
0.70%$500$100k24 Month IRA
0.70%$500$100k20 Month Step Up Roth IRA w/Direct Rewards
0.70%$500$100k24 Month Roth IRA
0.60%$500$100k18 Month IRA w/Direct Rewards
0.60%$500$100k20 Month Step Up IRA
0.60%$500$100k18 Month Roth IRA w/Direct Rewards
0.60%$500$100k20 Month Step Up Roth IRA
0.50%$500$100k18 Month IRA
0.50%$500$100k18 Month Roth IRA
0.35%$500$100k12 Month IRA w/Direct Rewards
0.35%$500$100k12 Month Roth IRA w/Direct Rewards
0.25%$500$100k6 Month IRA w/Direct Rewards
0.25%$500$100k12 Month IRA
0.25%$500$100k6 Month Roth IRA w/Direct Rewards
0.25%$500$100k12 Month Roth IRA
0.20%$500$100k3 Month IRA w/Direct Rewards
0.20%$500$100k3 Month Roth IRA w/Direct Rewards
0.15%$500$100k6 Month IRA
0.15%$500$100k6 Month Roth IRA
0.10%$500$100k3 Month IRA
0.10%$500$100k3 Month Roth IRA

Rates updated: 5/20/2013

Data for Q4 2012


Institution Statistics


UNITED FINANCIAL
NCUA #61657
BankRate ReportView
Year Chartered1964
Employees42
Primary Regulator

Assets and Liabilities

Assets$170.00 million
Loans$101.37 million
Deposits$152.89 million
Equity Capital$14.69 million
Loan Loss Allowance$1.04 million
Unbacked Noncurrent Loans$809,000
Real Estate Owned$142,000

Historic Data - December 2011

Assets$158.84 million
Equity Capital$14.54 million
Loan Loss Allowance$795,000
Unbacked Noncurrent Loans$2.37 million
Real Estate Owned$283,000

Profit Margin - Quarterly

Net Interest Margin4.9%
Return on Assets0.09%
Return on Equity1.04%
Interest Income$6.02 million
Non-Interest Income$1.92 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 December 31, 2012 United Financial Credit Union (MI) had $951,000 in non-current loans and owned real-estate with $15.73 million in equity and loan loss allowances on hand to cover it. This gives United Financial Credit Union (MI) a Texas Ratio of 6.05% 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 United Financial Credit Union (MI) decreased significantly from 17.30% as of December 31, 2011 to 6.05% as of December 31, 2012, resulting in a positive change of 65.04%.This indicates that the balance sheet and financial strength for United Financial Credit Union (MI) has improved significantly in recent periods.
Deposit Growth5
In the past year, United Financial Credit Union (MI) has increased its total deposits by $8.65 million, resulting in 6% 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 United Financial Credit Union (MI) has shown is excellent.
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. United Financial Credit Union (MI) has $170 million in assets with $15.73 million in equity, resulting in a capitalization level of 9.25%, which is average.
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Not A Credit Union I Would Reccommend...
2 stars - estcharles - Monday, March 25, 2013 - 11:58 AM

I have worked with a couple different banks and credit unions and I have to say this one has me the least impressed. For instance, I can go through the State street location and get my cashiers checks through the drive thru but when I go to the Weiss location I am told that I am not supposed to do that. No one is on the same page which makes things confusing. I have my kids with me when I go which is why i prefer the drive thru. However, why should one location have a different policy then another that is only 5 miles away from each other? Also, I have had multipul issues with their online banking. They have site problems about once a month and I have had to call 3 times due to my account not letting me log in. And the last time it took me 2 days to get a response from anyone. That is not acceptable. In my workplace if I failed to call back a customer for 2 days, I would most likely lose their business. Which is something I am currently looking into doing.

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