Community Choice Credit Union (MI) is headquartered in Farmington Hills and is the 12th largest credit union in the state of Michigan. It is also the 265th largest credit union in the nation. It was established in 1935 and as of December of 2023, it had grown to 355 employees and 114,928 members at 24 locations. Community Choice Credit Union (MI) has a B+ health rating.
Field of Membership Restrictions
Community Choice Credit Union membership is open to anyone who resides, worships, or works in Michigan, or is an employee or retiree of General Motors, Kelly Services, Conrail, or AmTrack. Eligibility also extends to immediate family of current credit union members. (Membership requirements are listed in the credit union's online application)
See current membership details
Great CU! Highly recommended
Every interaction I have had as a member of Community Choice Credit Union has been a positive one! Their staff are very friendly, professional, and courteous. Any questions I have are answered with ease and on some occasions, they have told me how to reduce my fees in order to benefit me in the greatest way possible. Staff members are also easy to work with and I am always treated as though I am an individual, not just a member with a number.
Their facilities are visually appealing and very clean; I always appreciate their attention to detail and willingness to improve and renovate when it is desirable or necessary. Their online banking app for smartphones is very well-designed and makes working with them as a credit union even easier and more enjoyable. I would recommend Community Choice Credit Union to everybody I know!
In The Process Of Opening 57-Mon CD With CCCU
I am a remote non-member. The process is OK.
1. Open account online.
2. Call the museum to donate $25 and receive your member number in email
3. Forward museum member number to CCCU
4. I will fund the CDs by deposit a check through the credit union shared network. Their instruction says they'll reach out to you in 24-48 hours once you open an account - but I heard from no one for 3 days. So be pro-active.
5. Rate will be locked once fund is received.
Not Happy ...
We closed a CD prematurely, and paid the 180 day penalty. But this credit union did not give us credit for the two weeks of interest in the month of withdrawal accruing before the withdrawal date.
A rep pointed to vague language about monthly accrual of dividends, but it was not, in my view, sufficiently specific to give fair notice of the policy. Nor did the rep mention this unstated policy when we withdrew the funds, just days before, even under their own procedures, the dividends would have accrued.
We got a total stiff-arm from the supervisor when we tried to appeal. An unpleasant experience overall.
Watch Out For FEES!!!
As of 2017: Closing share acct fee $5, Using a shared branch $4, Inactivity fee (6 months) $5, Checking Acct fee $5.95, ATM Fees from $1.75 to up to $5 (!), IRA account closing $25 !!!! Every time I turn around, these folks add another fee! Oh, and NO ACH capability from within the CU.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 64880 |
| Year Chartered | 1935 |
| Employees | 355 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.24% |
| Return on Equity - YTD | 2.98% |
| Annual Interest Income | $72.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $1.79B$1.75B |
| Loans | Q4 2023vs Q4 2022 | $1.35B$1.31B |
| Deposits | Q4 2023vs Q4 2022 | $1.52B$1.52B |
| Equity Capital | Q4 2023vs Q4 2022 | $145MM$137.5MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $7MM$3.4MM |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $7.4MM$5.6MM |
| Real Estate Owned | Q4 2023vs Q4 2022 | $1,000$56K |
