Compass Credit Union (MI)

Overview / Commentary
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 1,939th largest credit union in the nation. It was established in 1956 and as of December of 2021, it had grown to 20 employees and 7,439 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

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 - YTD0.6%
Return on Equity - YTD6.38%
Annual Interest Income$2.3MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$89.3MM$80.2MM
LoansQ4 2021vs Q4 2020$42.8MM$33.3MM
DepositsQ4 2021vs Q4 2020$80.4MM$71.4MM
Equity CapitalQ4 2021vs Q4 2020$8.3MM$8.5MM
Loan Loss AllowanceQ4 2021vs Q4 2020$403.00K$398.00K
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$140.00K$184.00K
Real Estate OwnedQ4 2021vs Q4 2020$0$0
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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

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

3.04%$25$20kHigh Yield Checking

Compass Credit Union (MI) CD Rates

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

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

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

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