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First United Credit Union


Overview / Commentary
www.firstunitedcu.org
616-532-9067
3140 Ivanrest Ave SW
Grandville, MI 49418-1445

First United Credit Union is headquartered in Grandville and is the 134th largest credit union in the state of Michigan. It is also the 2,204th largest credit union in the nation. It was established in 1937 and as of June of 2023, it had grown to 15 employees and 4,971 members at 1 location. First United Credit Union has a B+ health rating.

Field of Membership Restrictions

First United Credit Union is open to individuals who live, work, worship, or attend school anywhere in the state of Michigan.
See current membership details

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Health
B+

Data as of Q2 2023

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 United Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #68640
Year Chartered1937
Employees15
Primary Regulator
Profit Margin
Return on Assets - YTD1.47%
Return on Equity - YTD13.25%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$66.9MM$61.9MM
LoansQ2 2023vs Q2 2022$57.5MM$48.7MM
DepositsQ2 2023vs Q2 2022$56.1MM$52.5MM
Equity CapitalQ2 2023vs Q2 2022$7.4MM$6.4MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$560.00K
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$823.00K$513.00K
Real Estate OwnedQ2 2023vs Q2 2022$0$0
Rates

Rates for First United Credit Union are currently being reviewed.

Locations


First United Credit Union Locations
Branch Office3140 Ivanrest Ave SWGrandville, MI 49418

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