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 130th largest credit union in the state of Michigan. It is also the 2,064th largest credit union in the nation. It was established in 1956 and as of December of 2019, it had grown to 16 employees and 7,851 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, attend school or worship in the following Michigan counties: Ottawa, Oceana, Osceola, Muskegon, Newaygo, Montcalm, Mason, Mecosta, Kent, Ionia, Lake, Allegan or Barry. 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
Employees16
Primary Regulator
Profit Margin
Return on Assets - YTD0.85%
Return on Equity - YTD7.11%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$64.8MM$63.4MM
LoansQ4 2019vs Q4 2018$33.8MM$27.8MM
DepositsQ4 2019vs Q4 2018$56.9MM$56.2MM
Equity CapitalQ4 2019vs Q4 2018$7.7MM$6.9MM
Loan Loss AllowanceQ4 2019vs Q4 2018$415.00K$355.00K
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$231.00K$158.00K
Real Estate OwnedQ4 2019vs Q4 2018$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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