Overview / Commentary
Electrical Workers Credit Union is headquartered in DETROIT and is the 193rd largest credit union in the state of Michigan. It is also the 3,624th largest credit union in the nation. It was established in 1955 and as of September of 2019, it had grown to 2 employees and 2,293 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.
See current membership details
Health
B
Data as of Q3 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 | 0.77% |
| Return on Equity - YTD | 6.61% |
| Annual Interest Income | $359.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $14.9MM$14.4MM |
| Loans | Q3 2019vs Q3 2018 | $4.9MM$4.7MM |
| Deposits | Q3 2019vs Q3 2018 | $13.1MM$12.7MM |
| Equity Capital | Q3 2019vs Q3 2018 | $1.8MM$1.6MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $14.00K$4.00K |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $0$0 |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |