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First General Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
2.27%5-year CD60 Month CD
1.87%3-year CD36 Month CD
2.27%5-year IRA60 Month IRA (Traditional, Roth, CESA)

Overview / Commentary
231-798-4321
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 2,162nd largest credit union in the nation. It was established in 1953 and as of September of 2017, it had grown to 23 employees and 8,151 members at 2 locations. First General Credit Union's CD rates are 23% 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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Health
B+
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
Employees23
Primary Regulator
Profit Margin
Return on Assets - YTD-0.86%
Return on Equity - YTD-5.49%
Annual Interest Income$1.4MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$58.2MM$61.5MM
LoansQ3 2017vs Q3 2016$28.2MM$35.3MM
DepositsQ3 2017vs Q3 2016$48.6MM$51.4MM
Equity CapitalQ3 2017vs Q3 2016$9.2MM$10.0MM
Loan Loss AllowanceQ3 2017vs Q3 2016$445.00K$603.00K
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$440.00K$891.00K
Real Estate OwnedQ3 2017vs Q3 2016$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
0.30%$25-Christmas Club
0.05%$25-Share Account
0.05%$25-Vacation Club
0.05%$25-Sub-Share Account

First General Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%$500-60 Month CD
2.07%$500-48 Month CD
1.87%$500-36 Month CD
1.56%$500-24 Month CD
1.11%$500-12 Month CD
0.85%$500-6 Month CD
0.72%$100-12 Month Youth CD
0.25%$25-Save to Win 12 Month CD

First General Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.27%$500-60 Month IRA
2.07%$500-48 Month IRA
1.86%$500-36 Month IRA
1.56%$500-24 Month IRA
1.10%$500-12 Month IRA
0.85%$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