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Credit Union One (MI)

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
1.76%5-year CD60 Month CD
0.80%1-year CD12 Month CD
0.05%SavingsPersonal Savings Account

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 252nd largest credit union in the nation. It was established in 1938 and as of June of 2017, it had grown to 307 employees and 132,574 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.
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My experience with Credit Union One

I have been a member at Credit Union One for 10 years now, and over the past 10 years my satisfaction has continued to increase exponentially. I have many experiences with customer service and all of them have been positive experiences. Once, my debit card information had been stolen and unauthorized charges had been made on my card. Credit Union One stopped my card and called me notifying my of suspicious activity. I confirmed there initial thoughts and they sent me out a new card the next day. Over the past 3 years, they have began rolling out a mobile app that allows me to do my online banking very easily from my phone and over the past 6 months they have completely revamped the mobile check deposit. The app experiences has been continuing to improve from its initial inception. The bill pay feature has worked flawlessly and overall I have been extremely satisfied with the services that they have provided and would recommend anyone to use them. The only negative I can think of is that there are not many branches near where I work so sometimes it can be difficult to get in during business hours but with the improvement of the online banking I do not need to go in nearly as much.

Credit Union One - Not for me

I had a checking account with Credit Union One and I ended up having to switch back to a bank. The main reason being, it took days before a deposit would register on the account. For me, that's a deal breaker. If I deposit funds, I expect them available the next day. That did not happen here. I don't know if they have improved this aspect of their service, but as a consumer, I would highly advise they do so. I'm still leery about trying another credit union based upon this experience.
Otherwise, in a nutshell, customer service was alright, fees were reasonable, but timeliness of deposits and withdrawals leave a lot to be desired. I did not have a savings account here, so I can't comment on that.
One good thing is they are partnered with many ATM's so you can use your card and not get an ATM fee, which is a plus.

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.

Member For Nearly A Decade

Take your buisness elsewhere. Ive been with cuo for nearly a decade now. The first 6-7yrs were great and over the last year and a half or so they have become increasingly difficult to work with. It really started going downhill with new technology updates claiming to make banking and online banking easier. With each new tech update, purporting to make banking and online banking easier, it has become increasingly more difficult. Many of these updates have not gone smoothly and have effected my ability to carry out my finacial buisness easily and twice in the past few months at all, seeing as there was a computer error with the availability of funds directly related to my direct deposits, which have been ongoing for years. Since February theyve begun charging a paper statement fee, which I require a hard copy for my records but to go into a branch and request a copay cost over twice what it is to receive them in the mail monthly, along with several other exorbitant fees & policies that would take another page to explain. Also, today they "updated" their webpage supposedly to make it easier to use and now, I can no longer access my internal transfers, nor make any online, the ability to edit or even see my external transfers is gone, online bill pay is gone & I cant see my rewards and redeem my points for my cash back checking. Why? The links do not exist to access any of this. At all. Period. The logo is overlapping links for navigating the site and even the word "account" overlaps the dashboard link. Even when Ive managed to click on the links & not highlight the logo or word, there is still no access to my internal or external transfers, online bill pay or my cash back rewards program. I am beyond disappointed & frusturated. It is going to be a nightmare switching banks, direct deposits and withdrawals, external transfers and so forth but Im going to do it because staying with this bank is a bigger nightmare with no end in sight I see to their continued ineptitude and blunderings. Then finding new fees to enstate so I pay for their far less than stellar performance and service.

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Health
B+

Health Grade Components

Overall
NCUA #62562
Year Chartered1938
Employees307
Primary Regulator
Profit Margin
Return on Assets - YTD0.22%
Return on Equity - YTD2.57%
Annual Interest Income$17.7MM
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$1.13B$1.07B
LoansQ2 2017vs Q2 2016$804.8MM$807.7MM
DepositsQ2 2017vs Q2 2016$1.02B$963.9MM
Equity CapitalQ2 2017vs Q2 2016$95.9MM$93.9MM
Loan Loss AllowanceQ2 2017vs Q2 2016$9.2MM$7.8MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$8.1MM$9.4MM
Real Estate OwnedQ2 2017vs Q2 2016$709.00K$472.00K
Rates
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Credit Union One (MI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%--IRA Savings
0.05%--Personal Savings Account

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%--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
1.65%*$100k*-24 Month CD Special (New Money Only)
OTHER TIERS: 1.35% $2,500 - $25k | 1.55% $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

Availability