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ELGA Credit Union


Overview / Commentary
www.elgacu.com
810-715-3542
2303 S Center Rd
Burton, MI 48519

ELGA Credit Union is headquartered in Burton and is the 19th largest credit union in the state of Michigan. It is also the 373rd largest credit union in the nation. It was established in 1968 and as of September of 2020, it had grown to 211 employees and 76,559 members at 14 locations. ELGA Credit Union's money market rates are 25% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

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

Related Posts

ELGA Credit Union (MI) Adds Competitive 15-Month CD Special - 2/26/2020

ELGA Credit Union (MI) has added a 15-month Promotional CD, which earns tiered APYs between 2.25%-2.45% based on five deposit tiers ($1k, $30k, $100k, $250k, and $500k).

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Health
A+

Data as of Q3 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #61797
Year Chartered1968
Employees211
Primary Regulator
Profit Margin
Return on Assets - YTD1.59%
Return on Equity - YTD12.57%
Annual Interest Income$29.5MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$983.5MM$759.3MM
LoansQ3 2020vs Q3 2019$740.2MM$663.1MM
DepositsQ3 2020vs Q3 2019$829.4MM$626.6MM
Equity CapitalQ3 2020vs Q3 2019$123.0MM$107.6MM
Loan Loss AllowanceQ3 2020vs Q3 2019$5.0MM$4.7MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$7.1MM$8.9MM
Real Estate OwnedQ3 2020vs Q3 2019$740.00K$678.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

ELGA Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%*$10k*-HSA Savings
OTHER TIERS: 0.75% → $200 - $1k | 1.25% → $1k - $10k
1.51%*$500k*-IRA Tiered Savings
OTHER TIERS: 0.50% → Up to $10k | 0.75% → $10k - $50k | 1.00% → $50k - $200k | 1.25% → $200k - $500k
0.75%*-$250kKasasa Saver
OTHER TIERS: 0.25% → $250k+
0.15%$200-Christmas Club
0.15%--Super Saver Club
0.10%$200-Regular Savings
0.10%$200-Membership Share
0.10%$200-Vibe Savings
0.10%$200-Business Membership Share
0.10%$200-Any Moment Savings

ELGA Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.70%*$250k*-BAMM! Account
OTHER TIERS: 0.60% → $25k - $100k | 0.65% → $100k - $250k
0.55%*$500k*-ELGA Elite Money Market
OTHER TIERS: 0.15% → $1k - $5k | 0.20% → $5k - $10k | 0.25% → $10k - $50k | 0.30% → $50k - $100k | 0.40% → $100k - $250k | 0.50% → $250k - $500k

ELGA Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.04%*-$15kKasasa Cash
OTHER TIERS: 0.25% → $15k+
0.10%$10k-Business Checking
0.10%$10k-Community/Non-Profit Checking
0.10%$500-Vibe Checking
0.10%$10k-Basic Cash

ELGA Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%*$500k*-60 Month CD
OTHER TIERS: 0.90% → $1k - $30k | 0.95% → $30k - $100k | 1.00% → $100k - $250k | 1.05% → $250k - $500k
1.10%*$500k*-72 Month CD
OTHER TIERS: 0.90% → $1k - $30k | 0.95% → $30k - $100k | 1.00% → $100k - $250k | 1.05% → $250k - $500k
1.05%*$500k*-48 Month CD
OTHER TIERS: 0.85% → $1k - $30k | 0.90% → $30k - $100k | 0.95% → $100k - $250k | 1.00% → $250k - $500k
0.95%*$500k*-36 Month CD
OTHER TIERS: 0.75% → $1k - $30k | 0.80% → $30k - $100k | 0.85% → $100k - $250k | 0.90% → $250k - $500k
0.80%*$500k*-24 Month CD
OTHER TIERS: 0.65% → $1k - $30k | 0.68% → $30k - $100k | 0.70% → $100k - $250k | 0.75% → $250k - $500k
0.75%--12 Month Save To Win CD
0.70%$250-24 Month Learn2Save CD
0.63%*$500k*-12 Month CD
OTHER TIERS: 0.50% → $1k - $30k | 0.53% → $30k - $100k | 0.55% → $100k - $250k | 0.60% → $250k - $500k
0.55%$250-12 Month Learn2Save CD

ELGA Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%*$500k*-60 Month IRA
OTHER TIERS: 0.90% → $1k - $30k | 0.95% → $30k - $100k | 1.00% → $100k - $250k | 1.05% → $250k - $500k
1.10%*$500k*-72 Month IRA
OTHER TIERS: 0.90% → $1k - $30k | 0.95% → $30k - $100k | 1.00% → $100k - $250k | 1.05% → $250k - $500k
1.05%*$500k*-48 Month IRA
OTHER TIERS: 0.85% → $1k - $30k | 0.90% → $30k - $100k | 0.95% → $100k - $250k | 1.00% → $250k - $500k
0.95%*$500k*-36 Month IRA
OTHER TIERS: 0.75% → $1k - $30k | 0.80% → $30k - $100k | 0.85% → $100k - $250k | 0.90% → $250k - $500k
0.80%*$500k*-24 Month IRA
OTHER TIERS: 0.65% → $1k - $30k | 0.68% → $30k - $100k | 0.70% → $100k - $250k | 0.75% → $250k - $500k
0.63%*$500k*-12 Month IRA
OTHER TIERS: 0.50% → $1k - $30k | 0.53% → $30k - $100k | 0.55% → $100k - $250k | 0.60% → $250k - $500k
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