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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 138th largest credit union in the state of Michigan. It is also the 2,326th largest credit union in the nation. It was established in 1937 and as of September of 2022, it had grown to 15 employees and 4,844 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

Related Posts

First United Credit Union (MI) Boosts CD Specials Rates - 3/10/2022

First United Credit Union (easy membership in Michigan) has boosted the rates on its 18-month and 24-month Certificate Specials. Extra 25 bps for checking relationship.

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Health
B+

Data as of Q3 2022

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 - YTD1.62%
Return on Equity - YTD14.81%
Annual Interest Income$2.0MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$61.0MM$54.2MM
LoansQ3 2022vs Q3 2021$49.0MM$41.5MM
DepositsQ3 2022vs Q3 2021$50.8MM$45.9MM
Equity CapitalQ3 2022vs Q3 2021$6.7MM$5.8MM
Loan Loss AllowanceQ3 2022vs Q3 2021$496.00K$565.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$422.00K$235.00K
Real Estate OwnedQ3 2022vs Q3 2021$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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