Overview / Commentary
Best Financial Credit Union is headquartered in Muskegon and is the 96th largest credit union in the state of Michigan. It is also the 1,537th largest credit union in the nation. It was established in 1955 and as of March of 2024, it had grown to 42 employees and 13,313 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 attends school in the Michigan counties of Kent, Muskegon, Newaygo, Oceana, or Ottawa.
See current membership details
Health
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 62027 |
| Year Chartered | 1955 |
| Employees | 42 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.41% |
| Return on Equity - YTD | 2.51% |
| Annual Interest Income | $1.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2024vs Q1 2023 | $142.1MM$141.3MM |
| Loans | Q1 2024vs Q1 2023 | $98.7MM$91.2MM |
| Deposits | Q1 2024vs Q1 2023 | $118.5MM$118.2MM |
| Equity Capital | Q1 2024vs Q1 2023 | $22.7MM$22.3MM |
| Loan Loss Allowance | Q1 2024vs Q1 2023 | $734K$618K |
| Unbacked Noncurrent Loans | Q1 2024vs Q1 2023 | $333K$203K |
| Real Estate Owned | Q1 2024vs Q1 2023 | $0$0 |