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 18th largest credit union in the state of Michigan. It is also the 359th largest credit union in the nation. It was established in 1968 and as of March of 2021, it had grown to 216 employees and 78,884 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
Employees216
Primary Regulator
Profit Margin
Return on Assets - YTD1.73%
Return on Equity - YTD14.3%
Annual Interest Income$10.3MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$1.13B$839.5MM
LoansQ1 2021vs Q1 2020$772.2MM$689.9MM
DepositsQ1 2021vs Q1 2020$961.9MM$696.7MM
Equity CapitalQ1 2021vs Q1 2020$132.2MM$113.8MM
Loan Loss AllowanceQ1 2021vs Q1 2020$5.2MM$5.0MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$4.2MM$7.1MM
Real Estate OwnedQ1 2021vs Q1 2020$669.00K$521.00K
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

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