First Area CU (MI)

Overview / Commentary
193 Campbell Ln
Saginaw, MI 48609

First Area CU (MI) is headquartered in Saginaw and is the 161st largest credit union in the state of Michigan. It is also the 2,727th 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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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

NCUA #61756
Year Chartered1961
Primary Regulator
Profit Margin
Return on Assets - YTD0.2%
Return on Equity - YTD1.95%
Annual Interest Income$1.1MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$38.4MM$30.5MM
LoansQ4 2020vs Q4 2019$16.6MM$18.5MM
DepositsQ4 2020vs Q4 2019$34.5MM$26.7MM
Equity CapitalQ4 2020vs Q4 2019$3.8MM$3.7MM
Loan Loss AllowanceQ4 2020vs Q4 2019$140.00K$195.00K
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$69.00K$194.00K
Real Estate OwnedQ4 2020vs Q4 2019$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.

First Area CU (MI) Savings Account Rates

0.10%$25-Savings Account

First Area CU (MI) Money Market Rates

0.40%*$100k*-Money Market
OTHER TIERS: 0.20% $10k - $60k | 0.30% $60k - $100k

First Area CU (MI) CD Rates

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

First Area CU (MI) Locations
Branch Office16630 Gratiot RdHemlock, MI 48626
Branch Office193 Campbell LnSaginaw, MI 48609

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