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First General Credit Union


Overview / Commentary
1stgeneral.com
231-798-4321
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 2,256th largest credit union in the nation. It was established in 1953 and as of September of 2019, it had grown to 18 employees and 6,208 members at 2 locations. First General Credit Union's money market rates are 59% higher than the national average, and it has a B+ 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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Health
B+

Data as of Q3 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 General Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #61455
Year Chartered1953
Employees18
Primary Regulator
Profit Margin
Return on Assets - YTD-1%
Return on Equity - YTD-6.64%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ3 2019vs Q3 2018$54.3MM$55.1MM
LoansQ3 2019vs Q3 2018$30.4MM$29.3MM
DepositsQ3 2019vs Q3 2018$45.5MM$45.9MM
Equity CapitalQ3 2019vs Q3 2018$8.3MM$8.7MM
Loan Loss AllowanceQ3 2019vs Q3 2018$92.00K$204.00K
Unbacked Noncurrent LoansQ3 2019vs Q3 2018$285.00K$535.00K
Real Estate OwnedQ3 2019vs Q3 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 General Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.80%$100-Roth IRA Savings
0.80%$100-Traditional 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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.70%*$50k*-Money Market Account
OTHER TIERS: 0.50% → $2.5k - $20k | 0.60% → $20k - $50k

First General Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.02%$500-60 Month CD
1.76%$500-48 Month CD
1.51%$500-36 Month CD
1.41%$500-24 Month CD
1.26%$100-12 Month Youth CD
1.26%$500-12 Month CD
1.01%$500-6 Month CD
0.50%$25-12 Month Save to Win CD

First General Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.02%$500-60 Month IRA
1.76%$500-48 Month IRA
1.51%$500-36 Month IRA
1.41%$500-24 Month IRA
1.26%$500-12 Month IRA
1.00%$500-6 Month IRA
Locations


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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