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First General Credit Union

Popular Accounts at this Credit Union

1.82%5-year CD60 Month CD
1.38%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 137th largest credit union in the state of Michigan. It is also the 2,155th largest credit union in the nation. It was established in 1953 and as of June of 2017, it had grown to 21 employees and 9,016 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

[EXPIRED] $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

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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 - YTD-0.94%
Return on Equity - YTD-6.03%
Annual Interest Income$967.00K
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$59.4MM$63.4MM
LoansQ2 2017vs Q2 2016$28.8MM$36.3MM
DepositsQ2 2017vs Q2 2016$49.7MM$52.5MM
Equity CapitalQ2 2017vs Q2 2016$9.3MM$10.8MM
Loan Loss AllowanceQ2 2017vs Q2 2016$432.00K$211.00K
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$403.00K$785.00K
Real Estate OwnedQ2 2017vs Q2 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

0.30%$25-Christmas Club
0.25%$100-IRA Savings
0.25%$100-CESA Savings
0.05%$25-Share Account
0.05%$25-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

1.82%$500-60 Month CD
1.58%$500-48 Month CD
1.38%$500-36 Month CD
0.93%$500-24 Month CD
0.72%$500-12 Month CD
0.62%$500-6 Month CD
0.25%$25-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