ELGA Credit Union

Overview / Commentary
2303 S Center Rd
Burton, MI 48519

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.

Field of Membership Restrictions

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


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Health Grade Components

NCUA #61797
Year Chartered1968
Primary Regulator
Profit Margin
Return on Assets - YTD1.73%
Return on Equity - YTD15.5%
Annual Interest Income$25.4MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$1.43B$1.16B
LoansQ2 2022vs Q2 2021$966.0MM$804.1MM
DepositsQ2 2022vs Q2 2021$1.08B$983.8MM
Equity CapitalQ2 2022vs Q2 2021$149.4MM$137.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$6.7MM$5.4MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$11.1MM$4.7MM
Real Estate OwnedQ2 2022vs Q2 2021$0$683.00K

Rates for ELGA Credit Union are currently being reviewed.



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