Compass Credit Union (MI)


Overview / Commentary
616-887-8262
485 S State St
Sparta, MI 49345

Compass Credit Union (MI) is headquartered in Sparta and is the 117th largest credit union in the state of Michigan. It is also the 1,880th largest credit union in the nation. It was established in 1956 and as of September of 2022, it had grown to 18 employees and 7,962 members at 2 locations. Compass Credit Union (MI) has a B+ health rating.

Field of Membership Restrictions

Membership in Compass Credit Union is open to those who live, work, worship, or attend school in the Michigan counties of Allegan, Barry, Ionia, Kent, Lake, Mason, Mecosta, Montcalm, Muskegon, Newaygo, Oceana, Osceola, or Ottawa. Immediate family of existing credit union members are also eligible to join.
See current membership details

Reviews (1)

OK Credit Union Experience

Posted by: |

OK experience with credit union. Customer service is fairly good, not exceptional. I had trouble using the mobile site, and was never able to get online to see my account. They seem to be behind on technological advances. No apps, as many competitors offer in this day and age.



Health
B+
Additional 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. Compass Credit Union (MI) has a relatively low asset base.

Health Grade Components

Overall
NCUA #62040
Year Chartered1956
Employees18
Primary Regulator
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD12.76%
Annual Interest Income$2.1MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$95.7MM$86.2MM
LoansQ3 2022vs Q3 2021$55.4MM$36.6MM
DepositsQ3 2022vs Q3 2021$89.2MM$77.1MM
Equity CapitalQ3 2022vs Q3 2021$5.8MM$8.5MM
Loan Loss AllowanceQ3 2022vs Q3 2021$0$377.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$271.00K$91.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0
Rates

Rates for Compass Credit Union (MI) are currently being reviewed.

Locations


Compass Credit Union (MI) Locations
Branch Office485 S State StSparta, MI 49345-1549
Branch Office115 S Stone RdFremont, MI 49412

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