First General Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
1.79%	5-year CD	60 Month CD 2.25% - Ally Bank High Yield 5 Year CD
1.30%	3-year CD	36 Month CD 1.60% - Ally Bank High Yield 3 Year CD
1.78%	5-year IRA	60 Month IRA (Traditional, Roth, CESA) 1.50% - National Average

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Overview / Commentary

www.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 134^th largest credit union in the state of Michigan. It is also the 2,120^th largest credit union in the nation. It was established in 1953 and as of December of 2016, it had grown to 22 employees and 9,258 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.
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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.

Comment

2

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

Comment

2

Health

B

Data as of Q4 2016

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, and a negative return on assets.

Health Grade Components

Overall
NCUA #	61455
Year Chartered	1953
Employees	22
Primary Regulator

Profit Margin
Return on Assets - YTD	-2.01%
Return on Equity - YTD	-12.7%
Annual Interest Income	$2.3MM

Assets and Liabilities
Assets	Q4 2016vs Q4 2015	$60.3MM$64.3MM
Loans	Q4 2016vs Q4 2015	$32.8MM$38.5MM
Deposits	Q4 2016vs Q4 2015	$49.9MM$53.3MM
Equity Capital	Q4 2016vs Q4 2015	$9.6MM$10.9MM
Loan Loss Allowance	Q4 2016vs Q4 2015	$376.00K$390.00K
Unbacked Noncurrent Loans	Q4 2016vs Q4 2015	$732.00K$609.00K
Real Estate Owned	Q4 2016vs Q4 2015	$0$0

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