Consumers CU (MI) is headquartered in Kalamazoo and is the 11th largest credit union in the state of Michigan. It is also the 259th largest credit union in the nation. It was established in 1964 and as of December of 2019, it had grown to 282 employees and 100,539 members at 13 locations. Consumers CU (MI) has an A health rating.
Membership in Consumers Credit Union is open to those who live, work, or worship in the Lower Peninsula of Michigan.
See current membership details
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.
|Return on Assets - YTD||1.28%|
|Return on Equity - YTD||13.56%|
|Annual Interest Income||$52.6MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$1.24B$1.09B|
|Loans||Q4 2019vs Q4 2018||$1.11B$959.1MM|
|Deposits||Q4 2019vs Q4 2018||$991.0MM$868.7MM|
|Equity Capital||Q4 2019vs Q4 2018||$116.1MM$100.4MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$3.6MM$2.6MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$5.3MM$2.8MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$289.00K$228.00K|
Rates for Consumers CU (MI) are currently being reviewed.