ELGA Credit Union


Overview / Commentary
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 361st largest credit union in the nation. It was established in 1968 and as of December of 2020, it had grown to 214 employees and 77,365 members at 13 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 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
A+

Health Grade Components

Overall
NCUA #61797
Year Chartered1968
Employees214
Primary Regulator
Profit Margin
Return on Assets - YTD1.63%
Return on Equity - YTD12.96%
Annual Interest Income$39.6MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$1.06B$794.1MM
LoansQ4 2020vs Q4 2019$754.0MM$683.0MM
DepositsQ4 2020vs Q4 2019$899.6MM$658.2MM
Equity CapitalQ4 2020vs Q4 2019$128.2MM$111.1MM
Loan Loss AllowanceQ4 2020vs Q4 2019$5.1MM$4.9MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$5.8MM$10.0MM
Real Estate OwnedQ4 2020vs Q4 2019$739.00K$587.00K
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
0.55%*-$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
0.65%*$250k*-BAMM! Account
OTHER TIERS: 0.55% $25k - $100k | 0.60% $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
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
1.00%*$500k*-48 Month CD
OTHER TIERS: 0.80% $1k - $30k | 0.85% $30k - $100k | 0.90% $100k - $250k | 0.95% $250k - $500k
0.90%*$500k*-36 Month CD
OTHER TIERS: 0.70% $1k - $30k | 0.75% $30k - $100k | 0.80% $100k - $250k | 0.85% $250k - $500k
0.75%*$500k*-24 Month CD
OTHER TIERS: 0.55% $1k - $30k | 0.60% $30k - $100k | 0.65% $100k - $250k | 0.70% $250k - $500k
0.75%*-$25k12 Month Save To Win CD
OTHER TIERS: 0.10% $25k+
0.70%$250-24 Month Learn2Save CD
0.63%*$500k*-12 Month CD
OTHER TIERS: 0.45% $1k - $30k | 0.50% $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
1.00%*$500k*-48 Month IRA
OTHER TIERS: 0.80% $1k - $30k | 0.85% $30k - $100k | 0.90% $100k - $250k | 0.95% $250k - $500k
0.90%*$500k*-36 Month IRA
OTHER TIERS: 0.70% $1k - $30k | 0.75% $30k - $100k | 0.80% $100k - $250k | 0.85% $250k - $500k
0.75%*$500k*-24 Month IRA
OTHER TIERS: 0.55% $1k - $30k | 0.60% $30k - $100k | 0.65% $100k - $250k | 0.70% $250k - $500k
0.63%*$500k*-12 Month IRA
OTHER TIERS: 0.45% $1k - $30k | 0.50% $30k - $100k | 0.55% $100k - $250k | 0.60% $250k - $500k
Locations

Availability



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