Best Financial Credit Union is headquartered in Muskegon and is the 105th largest credit union in the state of Michigan. It is also the 1,632nd largest credit union in the nation. It was established in 1955 and as of December of 2021, it had grown to 39 employees and 12,506 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 | 39 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.77% |
| Return on Equity - YTD | 4.41% |
| Annual Interest Income | $4.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $124.5MM$116.7MM |
| Loans | Q4 2021vs Q4 2020 | $82.2MM$74.7MM |
| Deposits | Q4 2021vs Q4 2020 | $102.5MM$95.4MM |
| Equity Capital | Q4 2021vs Q4 2020 | $21.6MM$20.7MM |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $599.00K$437.00K |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $177.00K$140.00K |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$0 |