Overview / Commentary
Blue Water Federal Credit Union is headquartered in PORT HURON and is the 189th largest credit union in the state of Michigan. It is also the 3,573rd largest credit union in the nation. It was established in 1959 and as of June of 2020, it had grown to 3 employees and 1,290 members at 3 locations. Blue Water Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership is open to postal and federal employees in Huron, St. Clair, Tuscola and Sanilac Counties in Michigan and in the towns of Memphis, Armada, New Baltimore, Mount Clemens, Richmond, New Haven, and Saint Clair Shores in Macomb County and the towns of Clifford, Imlay City and Lapeer in Lapeer County.
See current membership details
Health
B+
Data as of Q2 2020
Learn why bank health mattersAdditional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Blue Water Federal Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 12906 |
| Year Chartered | 1959 |
| Employees | 3 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.49% |
| Return on Equity - YTD | 2.88% |
| Annual Interest Income | $245.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $16.6MM$14.7MM |
| Loans | Q2 2020vs Q2 2019 | $9.6MM$9.5MM |
| Deposits | Q2 2020vs Q2 2019 | $13.8MM$11.9MM |
| Equity Capital | Q2 2020vs Q2 2019 | $2.7MM$2.6MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $25.00K$23.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $21.00K$0 |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |