2. Financial Plus Credit Union

Financial Plus Credit Union


Overview / Commentary
www.myfpcu.com
800-748-0451
G3381 Van Slyke Rd
Flint, MI 48507-3263

Financial Plus Credit Union is headquartered in Flint and is the 28th largest credit union in the state of Michigan. It is also the 529th largest credit union in the nation. It was established in 1952 and as of March of 2019, it had grown to 172 employees and 56,051 members at 7 locations. Financial Plus Credit Union's CD rates are 2X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Financial Plus Credit Union is open to those who live, work, attend school or worship in Alcona, Alpena, Antrim, Arenac, Bay, Benzie, Charlevoix, Cheboygan, Clare, Crawford, Emmet, Genesee, Gladwin, Grand Traverse, Gratiot, Ingham, Iosco, Isabella, Kalkaska, Lapeer, Leelanau, Livingston, Macomb, Midland, Montmorency, Oakland, Ogemaw, Oscoda, Otsego, Presque Isle, Roscommon, Saginaw, Shiawassee, or Tuscola counties of Michigan.
See current membership details

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Elite Checking, 4.15% APY Up To $10,000 - 2/6/2019

The Elite Checking is a new rewards checking account. Requirements are: Minimum direct deposit into Elite Checking account of $2,500 per month. Minimum of 15 debit card purchase transactions per month. Must be enrolled in Online Banking, e-Statements, and e-Notices. Membership is open to residents of 34 Michigan counties.

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Reviews (4)

Hometown feel with global access.

Posted by: benitaritter80 | Mar 21, 2018

I have banked with FPCU for over 34 years. I have financed 3 cars, 4 homes and purchased investment products through them. They don't charge ridiculous fees every time I sneeze. They are always available to speak with me when needed. I don't have to spend an hour pushing buttons to get to a live body. My checks are free (not that I use them much) and my ATM transactions are free. I can move money easily between accounts with the mobile app. My only complaint would be the mobile app is not as robust as the other credit union that I have an account with. It is a new to them and I think more functionality is coming.

They worked with me when I lost my home in a flood and again last September when my family and I evacuated our home due to hurricane Irma. Wait times are reasonable and so much shorter than big global banks. I opened an account at Citibank several years ago and it was a nightmare compared to FPCU. I just can't imagine closing my accounts with FPCU.

1

They always knew my name

Posted by: Popularta | Apr 12, 2018

This credit union used to be called "EdCo Credit Union" and they merged with Financial Plus, but before they merged, I was a client at EdCo and used to have both a checking and savings there. What I really liked is that they knew my name when I walked in, and I honestly only went there about twice a month. This was before I was using direct deposit or really any ATMs, so I would go there to deposit my paycheck and they'd welcome me by my name as soon as I walked in the door. I really liked the personal service and their rates were really competitive. I only switched to a bigger bank because of convenience.

1

Mobile Deposit/Banking

Posted by: Vicky Colman | Dec 20, 2016

I started this account in June with the purchase of my new car. At the time I was filling out the TONS of paperwork I was told that mobile banking was on its way. Finally it is up and running HOWEVER they "forgot" to tell me that I would have to me a member for six months OR have a direct deposit set up. Mind you they told me this today 12-20-2016 NOT when they were "selling me" on the mobile app. I work at a small business that does not have direct deposit. I live in Vassar Michigan 20+ miles from a actual location and told them from the start that mobile deposit was important to me. After talking to two different people they are unwilling to remedy the situation. Unprofessional and very disappointing. I will be doing all I can to move my business to another CU or Bank.

2

Hard Stuff

Posted by: rehStarks | Sep 8, 2016

This Credit Union is the hardest to deal with. Obtaining information is like pulling teeth. To set up an online account is nearly impossible (you must come into there office in Flint to do it). That is just ridiculous in this day and age! I will be paying them off very soon but I would never do business with again nor would I recommend others to them.

3


Health
A

Data as of Q1 2019

Learn why bank health matters

Health Grade Components

Overall
NCUA #68646
Year Chartered1952
Employees172
Primary Regulator
Profit Margin
Return on Assets - YTD0.51%
Return on Equity - YTD3.68%
Annual Interest Income$5.0MM
Assets and Liabilities
AssetsQ1 2019vs Q1 2018$556.8MM$541.3MM
LoansQ1 2019vs Q1 2018$359.2MM$365.8MM
DepositsQ1 2019vs Q1 2018$475.2MM$465.0MM
Equity CapitalQ1 2019vs Q1 2018$75.1MM$71.2MM
Loan Loss AllowanceQ1 2019vs Q1 2018$5.2MM$5.0MM
Unbacked Noncurrent LoansQ1 2019vs Q1 2018$4.9MM$5.2MM
Real Estate OwnedQ1 2019vs Q1 2018$74.00K$16.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Financial Plus Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--IRA Savings
0.10%--Coverdell Education Savings Account
0.05%*$1.5k*-Regular Share
OTHER TIERS: 0.01% → Up to $1.5k
0.05%--Christmas Club Savings
0.05%*$1.5k*-Misc. Share
OTHER TIERS: 0.01% → Up to $1.5k

Financial Plus Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$500k*-Hi-Yield Plus Money Market
OTHER TIERS: 0.05% → Up to $1.5k | 0.25% → $1.5k - $50k | 0.35% → $50k - $100k | 0.40% → $100k - $200k | 0.45% → $200k - $300k | 0.50% → $300k - $400k | 0.55% → $400k - $500k
0.60%*$500k*-IRA Money Market Account
OTHER TIERS: 0.20% → $1.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k | 0.35% → $50k - $100k | 0.40% → $100k - $200k | 0.45% → $200k - $300k | 0.50% → $300k - $400k | 0.55% → $400k - $500k
0.35%*$50k*-Hi-Yield Money Market Account
OTHER TIERS: 0.20% → $1.5k - $10k | 0.25% → $10k - $25k | 0.30% → $25k - $50k

Financial Plus Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.15%*-$10kElite Checking Account
OTHER TIERS: 0.25% → $10k+
0.20%*$10k*-Tiered-Rate Checking
OTHER TIERS: 0.10% → $1k - $5k | 0.15% → $5k - $10k
0.20%$15k-High-Rate Checking
0.20%*$10k*-Premier Business Checking
OTHER TIERS: 0.05% → $1.5k - $10k
0.15%$500-E-Checking
0.15%$500-myCollege Checking

Financial Plus Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%$500-60 Month CD
2.55%$500-48 Month CD
2.45%$500-42 Month CD
2.45%$500-13 Month CD Special -In Branch Only.
2.40%$500-36 Month CD
2.30%$500-24 Month CD
2.30%$500-30 Month CD
2.30%$300-24 Month Start 'N Grow Relationship CD
2.25%$500-18 Month Founders Club CD
2.25%$500-18 Month Benefits Plus CD
2.20%$500-18 Month CD
2.15%$500-12 Month CD
1.75%$500-6 Month CD
1.00%$10k-90-179 Day CD
0.90%$10k-30-89 Day CD

Financial Plus Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.90%$500-60 Month IRA
2.55%$500-48 Month IRA
2.45%$500-42 Month IRA
2.45%$500-13 Month IRA Special -In Branch Only.
2.40%$500-36 Month IRA
2.30%$500-24 Month IRA
2.30%$300-24 Month Start 'N Grow Relationship IRA
2.30%$500-30 Month IRA
2.25%$500-18 Month Founders Club IRA
2.25%$500-18 Month Benefits Plus IRA
2.20%$500-18 Month IRA
2.15%$500-12 Month IRA
1.75%$500-6 Month IRA
Locations


Financial Plus Credit Union Locations
Branch Office7048 Miller RdSwartz Creek, MI 48473
Branch Office8250 S Saginaw StGrand Blanc, MI 48439-1828
Branch Office15125 Silver PkwyFenton, MI 48430-3460
Branch Office5256 Corunna RdFlint, MI 48532-4107
Branch OfficeG3381 Van Slyke RdFlint, MI 48507-3263
Branch Office4686 Fashion Square BlvdSaginaw, MI 48604
Branch Office5990 E Grand River AveHowell, MI 48843-9167

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