Consumers CU (MI)


Overview / Commentary
269-345-7804
7200 Elm Valley Dr
Kalamazoo, MI 49009-6272

Consumers CU (MI) is headquartered in Kalamazoo and is the 11th largest credit union in the state of Michigan. It is also the 277th largest credit union in the nation. It was established in 1964 and as of June of 2019, it had grown to 289 employees and 96,090 members at 13 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.
See current membership details

Related Posts

Consumers Credit Union (MI) Unveils Splish Splash Savings, 2.25% APY - 8/8/2019

Consumers Credit Union (MI) has introduced its Splish Splash Savings, earning 2.25% APY on balances between $2.5 and $250k. One year rate guarantee.

Consumers CU (MI) Debuts Serious Interest Checking, 4.00% APY - 6/22/2019

Consumers Credit Union (MI) has added a Serious Interest Checking, a rewards checking account that earns 4.00% APY on qualifying balances up to $15k.

Consumers Credit Union (MI) Adds 25-Month CD Special, 3.00% APY - 6/20/2019

Consumers Credit Union (MI) has added a 25-month Sweet Savings CD Special, earning 3.00% APY. Min deposit is $1k of new money and is capped at $250k per household.

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Reviews (2)

Review of Consumers Credit Union

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.

Overall, A Very Positive Place To Bank

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.



Health

Health Grade Components

Overall
NCUA #62172
Year Chartered1964
Employees289
Primary Regulator
Profit Margin
Return on Assets - YTD1.25%
Return on Equity - YTD13.25%
Annual Interest Income$24.8MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$1.16B$1.04B
LoansQ2 2019vs Q2 2018$999.2MM$911.2MM
DepositsQ2 2019vs Q2 2018$909.4MM$798.9MM
Equity CapitalQ2 2019vs Q2 2018$107.5MM$93.4MM
Loan Loss AllowanceQ2 2019vs Q2 2018$3.0MM$2.5MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$4.2MM$2.6MM
Real Estate OwnedQ2 2019vs Q2 2018$0$390.00K
Rates

Rates for Consumers CU (MI) are currently being reviewed.

Locations

Availability



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