First Area CU (MI)

Overview / Commentary

www.firstareacu.com

989-781-1430

193 Campbell Ln
Saginaw, MI 48609

First Area CU (MI) is headquartered in Saginaw and is the 161^st largest credit union in the state of Michigan. It is also the 2,727^th largest credit union in the nation. It was established in 1961 and as of December of 2020, it had grown to 7 employees and 3,560 members at 2 locations. First Area CU (MI) has a B+ health rating.

Field of Membership Restrictions

First Area Credit Union of Michigan is open to the residents, church members, registered students, and people that maintain employment within Saginaw County and the family members of current credit union members.
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View all posts from:

2019

10/23 - 3.25% APY, 60-Month CD

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Health

B+

Data as of Q4 2020

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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. First Area CU (MI) has a low asset base.

Health Grade Components

Overall
NCUA #	61756
Year Chartered	1961
Employees	7
Primary Regulator

Profit Margin
Return on Assets - YTD	0.2%
Return on Equity - YTD	1.95%
Annual Interest Income	$1.1MM

Assets and Liabilities
Assets	Q4 2020vs Q4 2019	$38.4MM$30.5MM
Loans	Q4 2020vs Q4 2019	$16.6MM$18.5MM
Deposits	Q4 2020vs Q4 2019	$34.5MM$26.7MM
Equity Capital	Q4 2020vs Q4 2019	$3.8MM$3.7MM
Loan Loss Allowance	Q4 2020vs Q4 2019	$140.00K$195.00K
Unbacked Noncurrent Loans	Q4 2020vs Q4 2019	$69.00K$194.00K
Real Estate Owned	Q4 2020vs Q4 2019	$0$0

Rates

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Savings
Money Market
CD

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

First Area CU (MI) Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	$25	-	Savings Account

First Area CU (MI) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.40%^*	$100k^*	-	Money Market
OTHER TIERS: 0.20% → $10k - $60k \| 0.30% → $60k - $100k

First Area CU (MI) CD Rates

APY	MIN	MAX	ACCOUNT NAME
0.85%	$500	-	60 Month CD
0.70%	$500	-	48 Month CD
0.60%	$500	-	36 Month CD
0.50%	$500	-	24 Month CD
0.40%	$500	-	12 Month CD

Locations

First Area CU (MI) Locations
Branch Office	16630 Gratiot Rd	Hemlock, MI 48626
Branch Office	193 Campbell Ln	Saginaw, MI 48609

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