ELGA Credit Union

Overview / Commentary
2303 S Center Rd
Burton, MI 48519

ELGA Credit Union is headquartered in Burton and is the 21st largest credit union in the state of Michigan. It is also the 402nd largest credit union in the nation. It was established in 1968 and as of December of 2019, it had grown to 217 employees and 79,124 members at 14 locations. ELGA Credit Union has 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).

Move Your Money 12-Month CD, 6.00% APY - 11/4/2019

Offer valid on money not currently on deposit at ELGA Credit Union. One account per social security number. CD value is $1,000.00 only. CD must be opened at the Linden branch at 8017 Silver Lake Rd, Linden, MI 48451 or Holly branch at 15223 N. Holly Road, Holly, MI 48442. Penalty for early withdrawal. Promotion ends 11/29/2019. Field of membership includes residents of Genesee, Lapeer, Livingston, Oakland, Saginaw, and Shiawassee Counties in Michigan. Anyone who can come into a branch can join by making a $25.00 donation to the Salvation Army Bed and Bread Program.

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Health Grade Components

NCUA #61797
Year Chartered1968
Primary Regulator
Profit Margin
Return on Assets - YTD1.97%
Return on Equity - YTD13.8%
Annual Interest Income$35.7MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$794.1MM$660.6MM
LoansQ4 2019vs Q4 2018$683.0MM$605.6MM
DepositsQ4 2019vs Q4 2018$658.2MM$543.4MM
Equity CapitalQ4 2019vs Q4 2018$111.1MM$95.7MM
Loan Loss AllowanceQ4 2019vs Q4 2018$4.9MM$5.0MM
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$10.0MM$7.9MM
Real Estate OwnedQ4 2019vs Q4 2018$587.00K$223.00K

Rates for ELGA Credit Union are currently being reviewed.



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