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 125th largest credit union in the state of Michigan. It is also the 1,982nd largest credit union in the nation. It was established in 1956 and as of December of 2020, it had grown to 18 employees and 7,440 members at 2 locations. Compass Credit Union (MI) has an A 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

Related Posts

Compass Credit Union (MI) High Yield Checking Has Competitive Rate - 2/26/2021

Compass Credit Union's (West Michigan) High Yield Checking currently earns a very competitive rate on qualifying balances between $25 and $20k.

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
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 - YTD0.65%
Return on Equity - YTD6%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$80.2MM$64.8MM
LoansQ4 2020vs Q4 2019$33.3MM$33.8MM
DepositsQ4 2020vs Q4 2019$71.4MM$56.9MM
Equity CapitalQ4 2020vs Q4 2019$8.5MM$7.7MM
Loan Loss AllowanceQ4 2020vs Q4 2019$398.00K$415.00K
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$184.00K$231.00K
Real Estate OwnedQ4 2020vs Q4 2019$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Compass Credit Union (MI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$100k*-Premium Share Account
OTHER TIERS: 0.05% Up to $1k | 0.10% $1k - $50k | 0.25% $50k - $100k
0.30%$250-Traditional IRA Share Account
0.30%$250-Roth IRA Share Account
0.05%$250-Regular Share Account
0.01%$100-Christmas Club Account

Compass Credit Union (MI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.04%$25$20kHigh Yield Checking

Compass Credit Union (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$500-60 Month Share Certificate
0.70%$500-48 Month Share Certificate
0.60%$500-36 Month Share Certificate
0.50%$500-24 Month Share Certificate
0.40%$500-12 Month Share Certificate
0.25%$500-6 Month Share Certificate

Compass Credit Union (MI) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$500-60 Month IRA Certificate
0.70%$500-48 Month IRA Certificate
0.60%$500-36 Month IRA Certificate
0.50%$500-24 Month IRA Certificate
0.40%$500-12 Month IRA Certificate
0.25%$500-6 Month IRA Certificate
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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