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Overview / Commentary
800-451-4292
400 E 9 Mile Rd
Ferndale, MI 48220

Credit Union One (MI) is headquartered in Ferndale and is the 10th largest credit union in the state of Michigan. It is also the 247th largest credit union in the nation. It was established in 1938 and as of March of 2017, it had grown to 302 employees and 135,175 members at 19 locations. Credit Union One (MI) has a B+ health rating.

Field of Membership Restrictions

Membership in Credit Union One of Michigan is open to anyone who lives, works, attends school or worships in the state of Michigan.
See current membership details

Related Posts

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Is It Just Me Or There Are Many Of Us?

Posted by: nkhatri | Sep 4, 2012

I am new to the place and there is a credit union one bank in the place where I work, Royal Oak. So thinking it is near and "local" I opened an account there. They even offered me a credit card so called "preapproved". So as I was new and had to develop credit history I thought that was a  good opportunity for me. I have waited for 2 months now just to hear that My application crossed 30 days and has expired, so I need to reapply now. I went to them couple of times within the 2 months  in order to inquire about the application and got a ready made answer that it takes 4-6 weeks in order to approve and once it crossed 4-6 weeks they say I have to reapply again as it has crossed 30 days. Poor me! and I follow them blindly as I need a credit card. I now wish if only they hadn't offered me any card ,I would not have gone through this or I would have tried at other places or for a credit card with safety deposit.

The Worst

Posted by: JusFab | Jan 9, 2017

This credit union is full unintelligent people. They stack overdraft fees, they mislead you when you are making payments for ANYTHING, this credit union is one big sham. On top of that, they don't communicate with other departments so notes regarding your account don't get saved. They have the slowest app, cheapest debit cards and the most out of date technology there is. Yeah you'll get a low rate alright right along with 10 other headaches an fees.

What Is This In Relation Too?

Posted by: Dnrvr | Mar 3, 2017

We had medical emergencies 7 yrs ago and had to declare bankruptcy. Before that we were very good with our credit. Since that time we both are over 700 on our fico score and have never missed a payment to anyone.
Now, I just found out that the mobile check deposit on my phone does not work, so I called the credit union. Here is what they told me, "You cannot use this service because of your Bankruptcy 7 years ago".
So I can bring a check in and deposit it but cannot take a picture with it on my phone. What is this about??? I am in the process of closing down all my accounts with Credit Union One. And by the way, ever since they purchased Good Shepherd Credit Union, their customer service has fallen to a very low scale. You have to wait 10 to 15 minutes to reach anyone. Shame on you, bad business and very poor customer service......Well I feel a little better now.................................

Do Not Do Business With This Institution!!!!!!!

Please read this review and take my warning.
This company is the absolute worst banking institution I have ever dealt with. We changed insurance companies on our RV, we dropped Progressive because of constant billing issues. When we added the new policy, there was a week that the vehicle was not covered. Mind you in MI in December a RV is typically parked in storage for the winter, as was ours. Credit Union One sent a letter stating that they applied insurance for a month at a cost of over 500.00. FOR ONE MONTH! When we called to explain that the coverage mistake was made by Progressive, they said too bad, you owe the money. This company engages in legal extortion. I am a member of multiple credit unions, and they have been a pleasure to deal with, but this one gives all credit unions a bad name.

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Health
B+

Health Grade Components

Overall
NCUA #62562
Year Chartered1938
Employees302
Primary Regulator
Profit Margin
Return on Assets - YTD0.23%
Return on Equity - YTD2.7%
Annual Interest Income$8.7MM
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$1.13B$1.06B
LoansQ1 2017vs Q1 2016$786.6MM$819.5MM
DepositsQ1 2017vs Q1 2016$1.03B$957.0MM
Equity CapitalQ1 2017vs Q1 2016$94.5MM$92.7MM
Loan Loss AllowanceQ1 2017vs Q1 2016$9.5MM$7.1MM
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$10.2MM$8.7MM
Real Estate OwnedQ1 2017vs Q1 2016$367.00K$265.00K
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 One (MI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%--IRA Savings
0.05%--Nickname Savings
0.05%--Business Savings

Credit Union One (MI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*-Insured Money Market Account
OTHER TIERS: 0.05% $1k - $10k | 0.10% $10k - $25k | 0.15% $25k - $50k | 0.25% $50k - $100k
0.30%*$100k*-Business Money Market
OTHER TIERS: 0.05% $1k - $10k | 0.10% $10k - $25k | 0.15% $25k - $50k | 0.25% $50k - $100k

Credit Union One (MI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%*$10k*-Cash Back Checking
OTHER TIERS: 0.05% $5k - $10k
0.05%$100-Business Interest Checking

Credit Union One (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.76%*$100k*-60 Month CD
OTHER TIERS: 1.31% $2,500 - $25k | 1.51% $25k - $100k
1.76%*$100k*-Business 60 Month CD
OTHER TIERS: 1.31% $2,500 - $25k | 1.51% $25k - $100k
1.51%*$100k*-48 Month CD
OTHER TIERS: 1.21% $2,500 - $25k | 1.41% $25k - $100k
1.51%*$100k*-Business 48 Month CD
OTHER TIERS: 1.21% $2,500 - $25k | 1.41% $25k - $100k
1.31%*$100k*-36 Month CD
OTHER TIERS: 1.01% $2,500 - $25k | 1.21% $25k - $100k
1.31%*$100k*-Business 36 Month CD
OTHER TIERS: 1.01% $2,500 - $25k | 1.21% $25k - $100k
1.11%*$100k*-24 Month CD
OTHER TIERS: 0.80% $2,500 - $25k | 1.01% $25k - $100k
1.11%*$100k*-Business 24 Month CD
OTHER TIERS: 0.80% $2,500 - $25k | 1.01% $25k - $100k
0.95%*$100k*-18 Month CD
OTHER TIERS: 0.70% $2,500 - $25k | 0.85% $25k - $100k
0.95%*$100k*-Business 18 Month CD
OTHER TIERS: 0.70% $2,500 - $25k | 0.85% $25k - $100k
0.80%*$100k*-12 Month CD
OTHER TIERS: 0.60% $2,500 - $25k | 0.70% $25k - $100k
0.80%*$100k*-Business 12 Month CD
OTHER TIERS: 0.60% $2,500 - $25k | 0.70% $25k - $100k
0.40%*$100k*-6 Month CD
OTHER TIERS: 0.25% $2,500 - $25k | 0.30% $25k - $100k
0.40%*$100k*-Business 6 Month CD
OTHER TIERS: 0.25% $2,500 - $25k | 0.30% $25k - $100k
0.20%*$100k*-3 Month CD
OTHER TIERS: 0.15% $2,500 - $100k
0.20%*$100k*-Business 3 Month CD
OTHER TIERS: 0.15% $2,500 - $100k

Credit Union One (MI) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.76%*$100k*-60 Month IRA
OTHER TIERS: 1.31% $2,500 - $25k | 1.51% $25k - $100k
1.51%*$100k*-48 Month IRA
OTHER TIERS: 1.21% $2,500 - $25k | 1.41% $25k - $100k
1.31%*$100k*-36 Month IRA
OTHER TIERS: 1.01% $2,500 - $25k | 1.21% $25k - $100k
1.11%*$100k*-24 Month IRA
OTHER TIERS: 0.80% $2,500 - $25k | 1.01% $25k - $100k
0.95%*$100k*-18 Month IRA
OTHER TIERS: 0.70% $2,500 - $25k | 0.85% $25k - $100k
0.80%*$100k*-12 Month IRA
OTHER TIERS: 0.60% $2,500 - $25k | 0.70% $25k - $100k
0.40%*$100k*-6 Month IRA
OTHER TIERS: 0.25% $2,500 - $25k | 0.30% $25k - $100k
0.20%*$100k*-3 Month IRA
OTHER TIERS: 0.15% $2,500 - $100k
Locations

Credit Union One (MI) has 19 locations. Click to view all Credit Union One (MI) locations.