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.
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
Overall | |
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NCUA # | 61797 |
Year Chartered | 1968 |
Employees | 214 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 1.63% |
Return on Equity - YTD | 12.96% |
Annual Interest Income | $39.6MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q4 2020vs Q4 2019 | $1.06B$794.1MM |
Loans | Q4 2020vs Q4 2019 | $754.0MM$683.0MM |
Deposits | Q4 2020vs Q4 2019 | $899.6MM$658.2MM |
Equity Capital | Q4 2020vs Q4 2019 | $128.2MM$111.1MM |
Loan Loss Allowance | Q4 2020vs Q4 2019 | $5.1MM$4.9MM |
Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $5.8MM$10.0MM |
Real Estate Owned | Q4 2020vs Q4 2019 | $739.00K$587.00K |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
---|---|---|---|---|
3.04% | - | $15k | Kasasa Cash | |
0.10% | $10k | - | Business Checking | |
0.10% | $10k | - | Community/Non-Profit Checking | |
0.10% | $500 | - | Vibe Checking | |
0.10% | $10k | - | Basic Cash |