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First General Credit Union

Popular Accounts at this Credit Union

1.79%5-year CD60 Month CD
1.30%3-year CD36 Month CD
1.78%5-year IRA60 Month IRA (Traditional, Roth, CESA)

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

First General Credit Union is headquartered in Norton Shores and is the 136th largest credit union in the state of Michigan. It is also the 2,135th largest credit union in the nation. It was established in 1953 and as of March of 2017, it had grown to 21 employees and 9,213 members at 2 locations. First General Credit Union's money market rates are 14% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

First General Credit Union of Michigan is open to the residents, church members, registered students, and the people that maintain employment within these qualified counties: Muskegon, Oceana, Newaygo, Ottawa, and Kent as well as the applicable employees that originally qualified for the original field of membership and their family members.
See current membership details

Related Posts

$100 Bonus For Free Checking Account At FGCU In Michigan - 1/30/2017

First General Credit Union’s requirements for the $100 bonus: Have a monthly direct deposit of at least $500 Remain open and in good standing for 6 months Receive E-Statements https://www.1stgeneral.com/new-checking

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Reviews (2)

No Accountability

Posted by: stanisha1 | Apr 29, 2013

First General takes no accountability for their employees mistake. One employee has cost me thousands of dollars an no one seems to care because the call was not monitored. I had a loan that got charged off and tried to do the right thing by resolving the issue. I contacted the loss prevention department and was told that they would settle with me so I gave them the amount only for them to take my  money and NOT close the account. They also sent my account to collections while I was making small payments up until 2/6/13 when I gave them a 2,000 payment. Prior to that happening I was able to discuss my account with the bank but now they won't even talk to me. First General Credit Union are crooks. I reported them to the BBB (Better Business Bureau) because this type of business is not right. People just don't have $2,000 to just throw away.That employee should be fired she knows who she is. Because of her incompitance, poor customer service and providing wrong information, my account is still not resolved. She nor the Operations director didn't even apologize or try to make it right. 

Most Horrible Bank Ever!

Posted by: loveGod | Jan 24, 2013

My spouse and I had a loan here and when my son became ill (AML Cancer) at age 7, we were hospitalized for over 6 months. Now I am not say a person should not pay bills. But when you call to let them know that your son if fighting for his life and you will do your best to pay by a certain time. They should take that into effect. But no sooner than one day passed that day you were going to pay you get calles and letter threating to take you car. (mind you I was not even a month late on the car note) and you call to tell them again for the fifth time that you hospitalized and that you will have someone go to bank for you and deposit money. (when they do not have online payment options) It becomes a little rediculaous and they should be ashamed of themselves. Do they not have people that are months behind to mess with. I not even a month behind and I am threaten with actions to take my car. My son is 7 and hospitalized fighting for his life. I could careless about the damn car. First general you can have it. My son is way more important.. 

Now I have to go and get my loan switched over to another bank, just to have better options of paying online so I can be more avail to my son which is the bigger picture. (by the way my payment was less than $300.)


Now tell me is this a bank you want to bank with? I think not

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 - YTD-1.11%
Return on Equity - YTD-7.1%
Annual Interest Income$491.00K
Assets and Liabilities
AssetsQ1 2017vs Q1 2016$60.9MM$64.1MM
LoansQ1 2017vs Q1 2016$30.2MM$36.4MM
DepositsQ1 2017vs Q1 2016$50.8MM$53.1MM
Equity CapitalQ1 2017vs Q1 2016$9.5MM$10.9MM
Loan Loss AllowanceQ1 2017vs Q1 2016$388.00K$223.00K
Unbacked Noncurrent LoansQ1 2017vs Q1 2016$502.00K$690.00K
Real Estate OwnedQ1 2017vs Q1 2016$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

0.25%$100-IRA Savings
0.25%$100-CESA Savings
0.05%$25-Share Account
0.05%--Christmas Club
0.05%--Vacation Club
0.05%$25-Sub-Share Account

First General Credit Union Money Market Rates

0.50%*$50k*-Money Market Account
OTHER TIERS: 0.25% $2,500 - $16k | 0.35% $16k - $30k | 0.45% $30k - $50k

First General Credit Union CD Rates

1.79%$1k-60 Month CD
1.54%$1k-48 Month CD
1.30%$1k-36 Month CD
0.83%$1k-24 Month CD
0.68%$1k-12 Month CD
0.58%$1k-6 Month CD
0.25%$1k-Save to Win 12 Month CD

First General Credit Union IRA Rates

1.78%$100-60 Month IRA
1.53%$100-48 Month IRA
1.28%$100-36 Month IRA
0.82%$100-24 Month IRA
0.68%$100-12 Month IRA
0.57%$100-6 Month IRA

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