ELGA Credit Union is headquartered in Burton and is the 21st largest credit union in the state of Michigan. It is also the 402nd largest credit union in the nation. It was established in 1968 and as of December of 2019, it had grown to 217 employees and 79,124 members at 14 locations. ELGA Credit Union has an A health rating.
ELGA Credit Union of Michigan is open to individuals who live, work, worship, volunteer, or attend school in the Michigan counties of Genesee, Lapeer, Livingston, Oakland, Saginaw, and Shiawassee. 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||1.97%|
|Return on Equity - YTD||13.8%|
|Annual Interest Income||$35.7MM|
|Assets and Liabilities|
|Assets||Q4 2019vs Q4 2018||$794.1MM$660.6MM|
|Loans||Q4 2019vs Q4 2018||$683.0MM$605.6MM|
|Deposits||Q4 2019vs Q4 2018||$658.2MM$543.4MM|
|Equity Capital||Q4 2019vs Q4 2018||$111.1MM$95.7MM|
|Loan Loss Allowance||Q4 2019vs Q4 2018||$4.9MM$5.0MM|
|Unbacked Noncurrent Loans||Q4 2019vs Q4 2018||$10.0MM$7.9MM|
|Real Estate Owned||Q4 2019vs Q4 2018||$587.00K$223.00K|
Rates for ELGA Credit Union are currently being reviewed.