Best Financial Credit Union is headquartered in Muskegon and is the 102nd largest credit union in the state of Michigan. It is also the 1,623rd largest credit union in the nation. It was established in 1955 and as of September of 2022, it had grown to 38 employees and 12,652 members at 2 locations. Best Financial Credit Union has an A+ health rating.
Field of Membership Restrictions
Best Financial Credit Union is open to anyone who lives, works, worships, or goes to school in Kent, Muskegon, Newaygo, Oceana or Ottawa Counties in Michigan.
See current membership details
Issues All The Time
Bank that is too strict and often not friendly. My mother tried depositing cash into my checking account and was denied because her name was not on account. She didn't ask for info or Truro withdraw money. She had account number and just wanted to deposit. Also, several checks were denied cashing because they said the check was "altered". If the check is made out with more than one ink color they will refuse to cash it..so you better pray your pen don't die in the middle of writing the check. Too many times the staff have denied easy banking services and made transactions difficult!!!!
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 62027 |
| Year Chartered | 1955 |
| Employees | 38 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.64% |
| Return on Equity - YTD | 3.72% |
| Annual Interest Income | $3.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $127.8MM$123.6MM |
| Loans | Q3 2022vs Q3 2021 | $81.8MM$78.5MM |
| Deposits | Q3 2022vs Q3 2021 | $104.8MM$101.5MM |
| Equity Capital | Q3 2022vs Q3 2021 | $22.1MM$21.5MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $618.00K$542.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $289.00K$180.00K |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |