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Consumers CU (MI)


Overview / Commentary
www.consumerscu.org
800-991-2221
7200 Elm Valley Dr
Kalamazoo, MI 49009

Consumers CU (MI) is headquartered in Kalamazoo and is the 10th largest credit union in the state of Michigan. It is also the 228th largest credit union in the nation. It was established in 1964 and as of December of 2022, it had grown to 394 employees and 132,391 members at 27 locations. Consumers CU (MI) has an A health rating.

Field of Membership Restrictions

Membership in Consumers Credit Union is open to those who live, work, or worship in the Lower Peninsula of Michigan.
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Reviews (2)

Review of Consumers Credit Union

Posted by: |

We have been thrilled after our move to Consumers, everything is much less in fees, and we're able to take advantage of higher interest rates on both our checking and savings accounts.

2

Overall, A Very Positive Place To Bank

Posted by: |

My wife and I have been members of Consumer's Credit Union in Kalamazoo, MI for several years now. I would say that we have been very satisfied with our experience thus far. The offices have a very friendly feeling, ranging from the politeness of the staff, the free coffee, and fast service. Their web-site is incredibly helpful, where you can do online banking, bill-pay, etc. I can even get text messages sent to my phone when I want to check the balance of our account.

The only negative experiences we have had over the years have been when we failed to pay attention to our account balance and overdrew our account. I accept responsibility for the failure on our part when this has happened, but in one or two instances I called customer service to plea for their help. It was actually a desparate situation that we were in financially, and I ended up having a one-dollar coffee cost $31.00 (with the overdraft fee). I explained my situation to the girl at customer service, and it really didn't seem like she had an ounce of humanity in her cold body. Yes, rules are rules. It was my fault. But we all make mistakes, and in a bad situation, it really seemed like a very degrading respnse that she gave.

I still like the credit union, and aside from a few excessive fees, I am very happy with my membership there.

1


Health
A

Data as of Q4 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #62172
Year Chartered1964
Employees394
Primary Regulator
Profit Margin
Return on Assets - YTD1.14%
Return on Equity - YTD12.26%
Annual Interest Income$68.9MM
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$2.03B$1.80B
LoansQ4 2022vs Q4 2021$1.83B$1.56B
DepositsQ4 2022vs Q4 2021$1.62B$1.48B
Equity CapitalQ4 2022vs Q4 2021$188.0MM$165.0MM
Loan Loss AllowanceQ4 2022vs Q4 2021$2.6MM$4.4MM
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$4.2MM$2.1MM
Real Estate OwnedQ4 2022vs Q4 2021$0$886.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Consumers CU (MI); we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Consumers CU (MI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$2.5k$250kLiquid Savings Account Promo - New Money
0.25%--Christmas Savings Account
0.10%$50-Savings Account
0.10%$50-Business Savings Account

Consumers CU (MI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--Money Market IRA
0.40%*$250k*-Business Money Market Account
OTHER TIERS: 0.15% → $2.5k - $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k | 0.35% → $100k - $250k
0.40%*$250k*-Municipality Money Market
OTHER TIERS: 0.15% → $2.5k - $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k | 0.35% → $100k - $250k
0.35%*$250k*-Money Market Account
OTHER TIERS: 0.10% → $2.5k - $10k | 0.15% → $10k - $25k | 0.20% → $25k - $50k | 0.25% → $50k - $100k | 0.30% → $100k - $250k

Consumers CU (MI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%*-$15kSerious Interest Checking
OTHER TIERS: 0.01% → $15k+
0.40%*$250k*-Interest Checking Account
OTHER TIERS: 0.15% → Up to $10k | 0.20% → $10k - $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k | 0.35% → $100k - $250k
0.25%*$250k*-Business Checking
OTHER TIERS: 0.05% → $10k - $25k | 0.10% → $25k - $100k | 0.15% → $100k - $250k

Consumers CU (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%*$25k*-60 Month CD
OTHER TIERS: 1.01% → $1k - $25k
1.10%*$25k*-Business 60 Month CD
OTHER TIERS: 1.01% → $1k - $25k
0.75%$100$10k12 - 60 Month Youth CD
0.74%*$25k*-36 Month CD
OTHER TIERS: 0.69% → $1k - $25k
0.74%*$25k*-Business 36 Month CD
OTHER TIERS: 0.69% → $1k - $25k
0.50%*$25k*-24 Month CD
OTHER TIERS: 0.45% → $1k - $25k
0.50%*$25k*-Business 24 Month CD
OTHER TIERS: 0.45% → $1k - $25k
0.35%*$25k*-12 Month CD
OTHER TIERS: 0.30% → $1k - $25k
0.35%*$25k*-Business 12 Month CD
OTHER TIERS: 0.30% → $1k - $25k
0.15%*$25k*-6 Month CD
OTHER TIERS: 0.10% → $1k - $25k
0.15%*$25k*-Business 6 Month CD
OTHER TIERS: 0.10% → $1k - $25k

Consumers CU (MI) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%*$25k*-60 Month IRA
OTHER TIERS: 1.01% → $1k - $25k
0.74%*$25k*-36 Month IRA
OTHER TIERS: 0.69% → $1k - $25k
0.50%*$25k*-24 Month IRA
OTHER TIERS: 0.45% → $1k - $25k
0.35%*$25k*-12 Month IRA
OTHER TIERS: 0.30% → $1k - $25k
0.15%*$25k*-6 Month IRA
OTHER TIERS: 0.10% → $1k - $25k
Locations

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