First Area CU (MI)

Overview / Commentary
193 Campbell Ln
Saginaw, MI 48609

First Area CU (MI) is headquartered in Saginaw and is the 167th largest credit union in the state of Michigan. It is also the 2,908th largest credit union in the nation. It was established in 1961 and as of September of 2019, it had grown to 7 employees and 3,889 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

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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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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 - YTD1%
Return on Equity - YTD7.65%
Annual Interest Income$902.00K
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$29.2MM$29.8MM
LoansQ3 2019vs Q3 2018$19.0MM$19.0MM
DepositsQ3 2019vs Q3 2018$25.4MM$26.5MM
Equity CapitalQ3 2019vs Q3 2018$3.8MM$3.3MM
Loan Loss AllowanceQ3 2019vs Q3 2018$162.00K$224.00K
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$182.00K$65.00K
Real Estate OwnedQ3 2019vs Q3 2018$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

0.20%$25-Savings Account

First Area CU (MI) Money Market Rates

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

First Area CU (MI) CD Rates

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

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

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