Overview / Commentary
Electrical Workers Credit Union is headquartered in DETROIT and is the 194th largest credit union in the state of Michigan. It is also the 3,627th largest credit union in the nation. It was established in 1955 and as of June of 2019, it had grown to 2 employees and 2,272 members at 1 location. Electrical Workers Credit Union has a B+ health rating.
Field of Membership Restrictions
Electrical Workers Credit Union of Michigan is open to the members of the IBEW Local 58 and their family members.
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Health
B+
Data as of Q2 2019
Learn why bank health mattersAdditional 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. Electrical Workers Credit Union has a low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 64267 |
| Year Chartered | 1955 |
| Employees | 2 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.74% |
| Return on Equity - YTD | 6.49% |
| Annual Interest Income | $234.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $15.1MM$14.6MM |
| Loans | Q2 2019vs Q2 2018 | $5.0MM$4.7MM |
| Deposits | Q2 2019vs Q2 2018 | $13.4MM$13.0MM |
| Equity Capital | Q2 2019vs Q2 2018 | $1.7MM$1.6MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $11.00K$4.00K |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $0$0 |
| Real Estate Owned | Q2 2019vs Q2 2018 | $0$0 |
Rates
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Electrical Workers Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.12% | - | $100 | Savings Account | |
| 0.12% | - | - | Club Account |
Locations
| Electrical Workers Credit Union Locations | ||
|---|---|---|
| Branch Office | 1366 porter ST | DETROIT, MI 48226 |