First General Credit Union

Overview / Commentary
589 E Ellis Rd
Norton Shores, MI 49441

First General Credit Union is headquartered in Norton Shores and is the 138th largest credit union in the state of Michigan. It is also the 2,260th largest credit union in the nation. It was established in 1953 and as of September of 2020, it had grown to 13 employees and 5,873 members at 2 locations. First General Credit Union has an A health rating.

Field of Membership Restrictions

First General Credit Union is open to anyone who lives, worships, works or studies in Ottawa, Muskegon, Oceana, Kent, or Newaygo counties.
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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 General Credit Union has a relatively low asset base.

Health Grade Components

NCUA #61455
Year Chartered1953
Primary Regulator
Profit Margin
Return on Assets - YTD0.08%
Return on Equity - YTD0.54%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$59.9MM$54.3MM
LoansQ3 2020vs Q3 2019$33.8MM$30.4MM
DepositsQ3 2020vs Q3 2019$50.9MM$45.5MM
Equity CapitalQ3 2020vs Q3 2019$8.3MM$8.3MM
Loan Loss AllowanceQ3 2020vs Q3 2019$134.00K$92.00K
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$154.00K$285.00K
Real Estate OwnedQ3 2020vs Q3 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 General Credit Union Savings Account Rates

0.40%$100-Traditional IRA Savings
0.30%$100-Roth IRA Savings
0.10%$25-Christmas Club
0.05%$25-Primary Saving
0.05%$25-Vacation Club
0.05%$25-Sub-Share Account

First General Credit Union Money Market Rates

0.20%*$50k*-Money Market Account
OTHER TIERS: 0.10% $2.5k - $20k | 0.15% $20k - $50k

First General Credit Union CD Rates

0.80%$500-60 Month CD
0.65%$500-48 Month CD
0.55%$500-36 Month CD
0.50%$25-12 Month Save to Win CD
0.45%$500-24 Month CD
0.40%$100-12 Month Youth CD
0.40%$500-12 Month CD
0.35%$500-6 Month CD

First General Credit Union IRA Rates

0.80%$500-60 Month IRA
0.65%$500-48 Month IRA
0.55%$500-36 Month IRA
0.45%$500-24 Month IRA
0.40%$500-12 Month IRA
0.35%$500-6 Month IRA

First General Credit Union Locations
Branch Office589 E Ellis RdNorton Shores, MI 49441-5671
Branch Office121 W Western AveMuskegon, MI 49442-1084

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