Overview / Commentary
First Area CU (MI) is headquartered in Saginaw and is the 148th largest credit union in the state of Michigan. It is also the 2,689th largest credit union in the nation. It was established in 1961 and as of March of 2025, it had grown to 9 employees and 2,951 members at 2 locations. First Area CU (MI) has a C+ health rating.
Field of Membership Restrictions
First Area Credit Union of Michigan is open to those who live, work, worship, or attend school in Saginaw County, Michigan. Immediate family members of current credit union members also qualify for membership.
See current membership details
Health
C+
Data as of Q1 2025
Learn why bank health mattersAdditional 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 | 9 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.13% |
| Return on Equity - YTD | 1.78% |
| Annual Interest Income | $370K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $38MM$40.1MM |
| Loans | Q1 2025vs Q1 2024 | $17.4MM$17.8MM |
| Deposits | Q1 2025vs Q1 2024 | $35.2MM$36.7MM |
| Equity Capital | Q1 2025vs Q1 2024 | $2.8MM$2.4MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $55K$26K |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $37K$7K |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |