Best Financial Credit Union is headquartered in Muskegon and is the 95th largest credit union in the state of Michigan. It is also the 1,528th largest credit union in the nation. It was established in 1955 and as of June of 2023, it had grown to 45 employees and 13,075 members at 2 locations. Best Financial Credit Union's CD rates are 6X the national average, and it boasts an A+ health rating.
Field of Membership Restrictions
Best Financial Credit Union is open to anyone who lives, works, worships, or attends school in the Michigan counties of Kent, Muskegon, Newaygo, Oceana, or Ottawa.
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 | 45 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.35% |
| Return on Equity - YTD | 2.18% |
| Annual Interest Income | $2.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $141.8MM$128.1MM |
| Loans | Q2 2023vs Q2 2022 | $94.5MM$80.8MM |
| Deposits | Q2 2023vs Q2 2022 | $118.7MM$105.5MM |
| Equity Capital | Q2 2023vs Q2 2022 | $22.4MM$22.0MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$589.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $343.00K$153.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |