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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 Grand Blanc and is the 15th largest credit union in the state of Michigan. It is also the 309th largest credit union in the nation. It was established in 1968 and as of September of 2022, it had grown to 240 employees and 88,289 members at 12 locations. ELGA Credit Union's CD rates are 3X the national average, and it 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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Reviews (1)

Trash Bank

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absolute garbage bank use any other one trust

3


Health
A

Data as of Q3 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #61797
Year Chartered1968
Employees240
Primary Regulator
Profit Margin
Return on Assets - YTD1.85%
Return on Equity - YTD17.48%
Annual Interest Income$40.9MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$1.44B$1.18B
LoansQ3 2022vs Q3 2021$1.04B$824.1MM
DepositsQ3 2022vs Q3 2021$1.09B$1.00B
Equity CapitalQ3 2022vs Q3 2021$151.2MM$144.4MM
Loan Loss AllowanceQ3 2022vs Q3 2021$7.1MM$5.8MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$13.4MM$5.9MM
Real Estate OwnedQ3 2022vs Q3 2021$0$434.00K
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%*$500k*-Coverdell ESA
OTHER TIERS: 0.50% → Any amount | 0.75% → $10k - $50k | 1.00% → $50k - $200k | 1.25% → $200k - $500k
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
3.04%*$250k*-BAMM! Account
OTHER TIERS: 2.53% → $25k - $100k | 2.78% → $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
4.02%$1k-20 Month CD Special
2.78%*$500k*-72 Month CD
OTHER TIERS: 2.42% → $1k - $30k | 2.52% → $30k - $100k | 2.63% → $100k - $250k | 2.73% → $250k - $500k
2.73%*$500k*-60 Month CD
OTHER TIERS: 2.37% → $1k - $30k | 2.47% → $30k - $100k | 2.57% → $100k - $250k | 2.68% → $250k - $500k
2.63%*$500k*-48 Month CD
OTHER TIERS: 2.27% → $1k - $30k | 2.37% → $30k - $100k | 2.47% → $100k - $250k | 2.57% → $250k - $500k
2.52%*$500k*-36 Month CD
OTHER TIERS: 2.17% → $1k - $30k | 2.27% → $30k - $100k | 2.37% → $100k - $250k | 2.47% → $250k - $500k
2.42%*$500k*-24 Month CD
OTHER TIERS: 2.07% → $1k - $30k | 2.17% → $30k - $100k | 2.27% → $100k - $250k | 2.37% → $250k - $500k
2.32%*$500k*-12 Month CD
OTHER TIERS: 1.96% → $1k - $30k | 2.07% → $30k - $100k | 2.17% → $100k - $250k | 2.27% → $250k - $500k
2.07%$250-24 Month Learn2Save CD
1.96%$250-12 Month Learn2Save CD
0.75%*-$25k12 Month Save To Win CD
OTHER TIERS: 0.10% → $25k+

ELGA Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.78%*$500k*-72 Month IRA
OTHER TIERS: 2.42% → $1k - $30k | 2.52% → $30k - $100k | 2.63% → $100k - $250k | 2.73% → $250k - $500k
2.73%*$500k*-60 Month IRA
OTHER TIERS: 2.37% → $1k - $30k | 2.47% → $30k - $100k | 2.57% → $100k - $250k | 2.68% → $250k - $500k
2.63%*$500k*-48 Month IRA
OTHER TIERS: 2.27% → $1k - $30k | 2.37% → $30k - $100k | 2.47% → $100k - $250k | 2.57% → $250k - $500k
2.52%*$500k*-36 Month IRA
OTHER TIERS: 2.17% → $1k - $30k | 2.27% → $30k - $100k | 2.37% → $100k - $250k | 2.47% → $250k - $500k
2.42%*$500k*-24 Month IRA
OTHER TIERS: 2.07% → $1k - $30k | 2.17% → $30k - $100k | 2.27% → $100k - $250k | 2.37% → $250k - $500k
2.32%*$500k*-12 Month IRA
OTHER TIERS: 1.96% → $1k - $30k | 2.07% → $30k - $100k | 2.17% → $100k - $250k | 2.27% → $250k - $500k
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