Overview / Commentary
First United Credit Union is headquartered in Grandville and is the 150th largest credit union in the state of Michigan. It is also the 2,532nd largest credit union in the nation. It was established in 1937 and as of December of 2019, it had grown to 12 employees and 4,481 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 Q4 2019
Learn why bank health mattersAdditional 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 low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 68640 |
| Year Chartered | 1937 |
| Employees | 12 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.02% |
| Return on Equity - YTD | 9.96% |
| Annual Interest Income | $2.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $41.1MM$37.6MM |
| Loans | Q4 2019vs Q4 2018 | $32.2MM$28.8MM |
| Deposits | Q4 2019vs Q4 2018 | $34.6MM$31.4MM |
| Equity Capital | Q4 2019vs Q4 2018 | $4.1MM$3.7MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $366.00K$322.00K |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $683.00K$579.00K |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$0 |