Best Financial Credit Union is headquartered in Muskegon and is the 104th largest credit union in the state of Michigan. It is also the 1,641st largest credit union in the nation. It was established in 1955 and as of June of 2020, it had grown to 39 employees and 11,683 members at 3 locations. Best Financial Credit Union has an A+ health rating.
Field of Membership Restrictions
Membership is open to those who live, work, attend school or worship in Muskegon, Newaygo, Kent, 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!!!!
Data as of Q2 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 62027 |
| Year Chartered | 1955 |
| Employees | 39 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.53% |
| Return on Equity - YTD | 2.71% |
| Annual Interest Income | $1.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $108.8MM$91.5MM |
| Loans | Q2 2020vs Q2 2019 | $66.7MM$56.6MM |
| Deposits | Q2 2020vs Q2 2019 | $88.1MM$71.5MM |
| Equity Capital | Q2 2020vs Q2 2019 | $20.1MM$19.6MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $530.00K$454.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $125.00K$152.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |