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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 164th largest credit union in the state of Michigan. It is also the 2,863rd largest credit union in the nation. It was established in 1961 and as of December of 2019, it had grown to 7 employees and 3,861 members at 2 locations. First Area CU (MI)'s CD rates are 67% higher than the national average, and it 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.
See current membership details

Related Posts

3.25% APY, 60-Month CD - 10/23/2019

If you live in Saginaw County, Michigan, First Area Credit Union has good rates on two long-term CDs: 3.00% APY - 48-month CD 3.25% APY - 60-month CD $5,000 minimum opening deposit

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Health
B

Data as of Q4 2019

Learn why bank health matters
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 Chartered1961
Employees7
Primary Regulator
Profit Margin
Return on Assets - YTD0.32%
Return on Equity - YTD2.55%
Annual Interest Income$1.2MM
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$30.5MM$30.2MM
LoansQ4 2019vs Q4 2018$18.5MM$18.8MM
DepositsQ4 2019vs Q4 2018$26.7MM$26.8MM
Equity CapitalQ4 2019vs Q4 2018$3.7MM$3.4MM
Loan Loss AllowanceQ4 2019vs Q4 2018$195.00K$218.00K
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$194.00K$163.00K
Real Estate OwnedQ4 2019vs Q4 2018$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%$25-Savings Account

First Area CU (MI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.70%*$100k*-Money Market
OTHER TIERS: 0.50% → $10k - $60k | 0.60% → $60k - $100k

First Area CU (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$500-60 Month CD
2.25%$500-48 Month CD
2.00%$500-36 Month CD
1.75%$500-24 Month CD
1.50%$500-12 Month CD
Locations


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

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