Overview / Commentary
Baraga County Federal Credit Union is headquartered in Lanse and is the 138th largest credit union in the state of Michigan. It is also the 2,364th largest credit union in the nation. It was established in 1952 and as of June of 2024, it had grown to 9 employees and 4,494 members at 1 location. Baraga County Federal Credit Union's CD rates are 84% higher than the national average, and it has a B health rating.
Field of Membership Restrictions
Membership in Baraga County Federal Credit Union is open to those who live or work in Baraga County, Michigan. Relatives of current members are eligible to join, regardless of where they live or work.
See current membership details
Health
B
Data as of Q2 2024
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Baraga County Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 7672 |
| Year Chartered | 1952 |
| Employees | 9 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.5% |
| Return on Equity - YTD | 13.4% |
| Annual Interest Income | $837K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $55.4MM$54.3MM |
| Loans | Q2 2024vs Q2 2023 | $18.9MM$17.9MM |
| Deposits | Q2 2024vs Q2 2023 | $52.9MM$53.1MM |
| Equity Capital | Q2 2024vs Q2 2023 | $2.1MM$507K |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $93K$98K |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $36K$23K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |