ELGA Credit Union is headquartered in Grand Blanc and is the 16th largest credit union in the state of Michigan. It is also the 312th largest credit union in the nation. It was established in 1968 and as of June of 2022, it had grown to 235 employees and 86,782 members at 12 locations. ELGA Credit Union has an A health rating.
ELGA Credit Union is open to individuals who live, work, worship, attend school, or volunteer anywhere in Michigan. Membership eligibility also extends to include the employees and retirees of many employer groups, including State of Michigan Government agencies, Building Trades AFL-CIO, and Consumers Energy Company. Individuals who donate $25 to the Salvation Army Bed & Bread Program also qualify for membership, as do immediate family members of current ELGA members.
See current membership details
|Return on Assets - YTD||1.73%|
|Return on Equity - YTD||15.5%|
|Annual Interest Income||$25.4MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$1.43B$1.16B|
|Loans||Q2 2022vs Q2 2021||$966.0MM$804.1MM|
|Deposits||Q2 2022vs Q2 2021||$1.08B$983.8MM|
|Equity Capital||Q2 2022vs Q2 2021||$149.4MM$137.6MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$6.7MM$5.4MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$11.1MM$4.7MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$683.00K|
Rates for ELGA Credit Union are currently being reviewed.