Financial Plus Credit Union (MI) Offers Accounts Statewide


Deal Summary: Elite Checking, 4.15% APY, on qualifying balances up to $10k.

Availability: Michigan

There are two reasons for this blog post about Financial Plus Credit Union’s (Financial Plus) Elite Checking account. 1) Financial Plus’ field of membership now covers the entire state of Michigan and 2) the Elite Checking account (4.15% APY, on qualifying balances up to $10k) offers a great rate on small balances.

Elite Checking qualifying balances over $10k earn 0.05% APY, with non-qualifying balances not earning any interest. If requirements are not met for six consecutive months, the Elite Checking will automatically convert to a Free Checking account. There are no monthly service fees, no minimum balance requirement, and no opening deposit requirement. Unlimited check writing is available and a free debit card will be issued following account opening. Non-Financial Plus ATM fees are not reimbursed, but Financial Plus participates in the CO-OP ATM network. There is a limit of one account per primary member and business accounts are not eligible.

The monthly qualifying requirements include,

  • At least 15 debit card purchases
  • Direct deposit of at least $2.5k each month
  • Enrolled in Digital Banking and eDocuments

Thanks to DA reader, Carpline, for telling me about Financial Plus Credit Union's new field of membership.


Headquartered in Flint, Michigan, Financial Plus Credit Union’s field of membership (FOM) has expanded within the last year. Previously limited to 34 Michigan counties, the FOM is now open to individuals who live, work, worship, or attend school anywhere in Michigan.

Joining Financial Plus and/or opening an Elite Checking account can be done online or at any of seven Michigan branches located in Davison, Fenton, Flint (2), Grand Blanc, Saginaw, and Swartz Creek. Appointments are available and can be scheduled by calling the branch you intend to visit.

Current Financial Plus members who have a Financial Plus Checking account can upgrade to an Elite Checking account by calling 800.748.0451 or by chat in Digital Banking.

A minimum $5 deposit in a Share Account is the “cornerstone of a membership at Financial Plus.”

Financial Plus participates in both the CO-OP Shared Branch and ATM networks.

Credit Union Overview

Financial Plus Credit Union has an overall health grade of "A+" at, with a Texas Ratio of 1.63% (excellent) based on December 31, 2020 data. In the past year, Financial Plus has increased its total non-brokered deposits by $119.05 million, an excellent annual growth rate of 24.45%. Please refer to our financial overview of Financial Plus Credit Union (NCUA Charter # 68646) for more details.

Financial Plus Credit Union was established in 1952 as the Chevy-Flint Federal Credit Union by employees of Chevrolet. In 1965, the name was changed to West Side Auto Employees Federal Credit Union to better reflect a charter expansion that included other General Motors plants. 37 years later, another charter change resulted in Financial Plus Credit Union serving the residents of four Michigan counties. In 2014, Financial Plus converted to a state-chartered credit union to expand into 34 Michigan counties and within the last year, the FOM was expanded to include all 83 Michigan counties. Financial Plus Credit Union is currently the 29th largest credit union headquartered in Michigan, with more than 55,000 members and assets of nearly $700 million.

How Elite Checking Compares

When compared to the High Yield Rewards Checking Accounts tracked by that are available to all Michigan residents and have a qualifying balance cap of at least $10k, Financial Plus Credit Union’s Elite Checking APY currently ranks second.

The above rates are accurate as of 5/6/2021.

To look for the best Reward Checking Account rates, both nationwide and state specific, please refer to our High Yield Reward Checking Account Rates Table page.

Related Pages: Flint checking accounts, reward checking accounts

Financial Plus CU (MI) Offers 2 Competitive CD Specials
Availability: Residents of 34 Michigan counties

Earlier this week, Financial Plus Credit Union (Financial Plus) added two Share Certificate (CD) Specials to its product line: 15-month Share Certificate Special (1.30% APY) and 29-month Share Certificate Special (1.77% APY).

Both CD Specials require a minimum opening deposit of $1K new money, with a balance cap of $100K.

The 15-month CD Special requires a Financial Plus checking relationship, with at least one monthly payroll direct deposit. This offering is valid through February 8, 2016.

The 29-month CD Special does not...

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4.00% 12-Month CD at a Michigan CU (Financial Plus).
Update 6/28/08: The CD rate has fallen. Please check the credit union's website for the latest rates.

Financial Plus FCU is offering a special 4.00% APY 12-month share certificate. The minimum deposit is $5,000. There's also a special for the 36-month certificate with this same yield.

Membership is open to those who live, work, worship, volunteer or attend school in Genesee County. Please refer to their Membership Page for more details. Membership requires a minimum $5 balance in the share savings account.

Branches are located in Flint and Fenton, Michigan. The credit union...

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The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.