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Overview / Commentary
248-996-6070
22250 Providence Dr
Southfield, MI 48075

Credit Union Advantage is headquartered in Southfield and is the 176th largest credit union in the state of Michigan. It is also the 3,015th largest credit union in the nation. It was established in 1969 and as of June of 2016, it had grown to 7 employees and 2,945 members at 2 locations. Credit Union Advantage has a B health rating.

Field of Membership Restrictions

CU Advantage of Michigan is open to the residents and people maintaining employment in the qualified site listed locations within these Michigan Counties; Oakland, Macomb, and Wayne as well as the employees and/or members of SEG's or comparable sources within 25-miles of the CU Southfield and Novi offices, Oakland County seniors 55+ receiving retirement income compensation, CU employees, and the family members of these pointed eligible members.
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Health
B
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. Credit Union Advantage has a low asset base.

Health Grade Components

Overall
NCUA #62517
Year Chartered1969
Employees7
Primary Regulator
Profit Margin
Return on Assets - YTD0.25%
Return on Equity - YTD2.06%
Annual Interest Income$378.00K
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$28.0MM$27.9MM
LoansQ2 2016vs Q2 2015$9.3MM$9.4MM
DepositsQ2 2016vs Q2 2015$24.3MM$24.3MM
Equity CapitalQ2 2016vs Q2 2015$3.4MM$3.1MM
Loan Loss AllowanceQ2 2016vs Q2 2015$78.00K$63.00K
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$183.00K$125.00K
Real Estate OwnedQ2 2016vs Q2 2015$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Credit Union Advantage Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$100-Individual Retirement Account
0.20%$100-Roth Individual Retirement Account
0.20%$100-Educational Individual Retirement Account
0.15%$100-Christmas Club
0.10%$100-Regular Shares
0.10%--Penny Savers
0.10%--Teen Advantage Savings

Credit Union Advantage Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$50k*-Money Market Account
OTHER TIERS: 0.13% $500 - $2k | 0.16% $2k - $10k | 0.19% $10k - $50k

Credit Union Advantage CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%$25k-60 Month Jumbo CD
1.40%$500-60 Month CD
1.20%$25k-48 Month Jumbo CD
1.10%$500-48 Month CD
1.00%$25k-36 Month Jumbo CD
0.90%$25k-30 Month Jumbo CD
0.80%$25k-24 Month Jumbo CD
0.80%$500-30 Month CD
0.70%$500-24 Month CD
0.60%$25k-18 Month Jumbo CD
0.60%$500-36 Month CD
0.50%$25k-12 Month Jumbo CD
0.50%$500-18 Month CD
0.40%$500-12 Month CD
0.40%$25k-6 Month Jumbo CD
0.30%$500-6 Month CD
0.20%$500-3 Month CD
Locations


Credit Union Advantage Locations
Branch Office26850 Providence Pkwy Ste 110Novi, MI 48374
Branch Office22250 Providence DrSouthfield, MI 48075-4825