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Overview / Commentary
150 Ann St NW
Grand Rapids, MI 49505-6244

Fedcom Credit Union is headquartered in Grand Rapids and is the 134th largest credit union in the state of Michigan. It is also the 2,101st largest credit union in the nation. It was established in 1925 and as of June of 2016, it had grown to 23 employees and 7,656 members at 3 locations. Fedcom Credit Union has a B+ health rating.

Field of Membership Restrictions

Fedcom Credit Union of Michigan is open to the residents, people that maintain employment, and the registered college or university students within these eligible counties: Kent, Ottawa, Muskegon, and Allegan, people that were members before the credit union gained its community charter, retired seniors that are 55+ residing within the county or a surrounding county of the credit union main office and receives an income compensation, member affiliated organizations, credit union employees, and the family members of these eligible people along with the widow/widowers of deceased credit union members.
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Reviews (1)

Unhappy Customer

This is an horrible establishment. I disputed an unauthorized charge a month ago. I was finally advised it would take up to two months for the results. Then I later found out that I was also being charged .50 cents every time I used my card. The employee Joan forgot to ask for a signature and sent me an email pretty much telling me how I don't listen and it's MY fault that she watched me not sign a form. I'M GOING TO CHASE!!!

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Fedcom Credit Union has a relatively low asset base.

Health Grade Components

NCUA #62096
Year Chartered1925
Primary Regulator
Profit Margin
Return on Assets - YTD0.37%
Return on Equity - YTD3.32%
Annual Interest Income$1.3MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$60.6MM$58.4MM
LoansQ2 2016vs Q2 2015$43.0MM$41.6MM
DepositsQ2 2016vs Q2 2015$53.4MM$51.2MM
Equity CapitalQ2 2016vs Q2 2015$6.7MM$6.4MM
Loan Loss AllowanceQ2 2016vs Q2 2015$250.00K$306.00K
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$371.00K$282.00K
Real Estate OwnedQ2 2016vs Q2 2015$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Fedcom Credit Union Savings Account Rates

3.29%$100-Health Savings Account
3.29%$100-Coverdell Education Savings IRA
0.50%$100-IRA Share Account
0.50%$100-Roth IRA Share Account
0.50%$100-Holiday Club Account 2015-2016
0.10%$100-Regular Share
0.10%$100-Vacation Share Account

Fedcom Credit Union Money Market Rates

0.40%*$50k*-High Yield Money Market Account
OTHER TIERS: 0.20% $2k - $20k | 0.30% $20k - $50k

Fedcom Credit Union CD Rates

1.76%$500-60 Month CD
1.51%$500-48 Month CD
1.26%$500-36 Month CD
1.01%$100$5003 Month Kid's Club CD
0.90%$500-24 Month CD
0.90%$500-30 Month CD
0.65%$500-12 Month CD
0.65%$500-18 Month CD
0.45%$500-6 Month CD

Fedcom Credit Union IRA Rates

1.76%$500-60 Month IRA
1.51%$500-48 Month IRA
1.26%$500-36 Month IRA
0.90%$500-24 Month IRA
0.90%$500-30 Month IRA
0.65%$500-12 Month IRA
0.65%$500-18 Month IRA
0.45%$500-6 Month IRA

Fedcom Credit Union Locations
Branch Office7565 Cottonwood DrJenison, MI 49428-8355
Branch Office4429 Breton Rd SEGrand Rapids, MI 49508-5273
Branch Office150 Ann St NWGrand Rapids, MI 49505-6244