Compass Credit Union (MI)

Overview / Commentary
485 S State St
Sparta, MI 49345-1549

Compass Credit Union (MI) is headquartered in Sparta and is the 129th largest credit union in the state of Michigan. It is also the 2,059th largest credit union in the nation. It was established in 1956 and as of September of 2019, it had grown to 18 employees and 7,650 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.

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

NCUA #62040
Year Chartered1956
Primary Regulator
Profit Margin
Return on Assets - YTD0.78%
Return on Equity - YTD6.73%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$64.9MM$63.3MM
LoansQ3 2019vs Q3 2018$33.4MM$24.9MM
DepositsQ3 2019vs Q3 2018$57.2MM$56.4MM
Equity CapitalQ3 2019vs Q3 2018$7.5MM$6.7MM
Loan Loss AllowanceQ3 2019vs Q3 2018$374.00K$352.00K
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$175.00K$187.00K
Real Estate OwnedQ3 2019vs Q3 2018$0$0
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Compass Credit Union (MI) Savings Account Rates

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

3.04%$25$20kHigh Yield Checking

Compass Credit Union (MI) CD Rates

1.99%$500-60 Month Share Certificate
1.68%$500-48 Month Share Certificate
1.47%$500-36 Month Share Certificate
1.23%$500-24 Month Share Certificate
0.92%$500-12 Month Share Certificate
0.58%$500-6 Month Share Certificate

Compass Credit Union (MI) IRA Rates

1.99%$500-60 Month IRA Certificate
1.68%$500-48 Month IRA Certificate
1.47%$500-36 Month IRA Certificate
1.23%$500-24 Month IRA Certificate
0.92%$500-12 Month IRA Certificate
0.58%$500-6 Month IRA Certificate

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

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