Forest Area Federal Credit Union


Overview / Commentary
231-879-4154
638 Boyd St
Fife Lake, MI 496330

Forest Area Federal Credit Union is headquartered in Fife Lake and is the 74th largest credit union in the state of Michigan. It is also the 1,213th largest credit union in the nation. It was established in 1983 and as of June of 2022, it had grown to 50 employees and 17,688 members at 6 locations. Forest Area Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership to Forest Area Federal Credit Union is offered to businesses or other legal entities, and those who live, work, worship, or attend school in the Michigan counties of Antrim, Crawford, Grand Traverse, Kalkaska, Missaukee, or Wexford.
See current membership details

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Health

Health Grade Components

Overall
NCUA #24047
Year Chartered1983
Employees50
Primary Regulator
Profit Margin
Return on Assets - YTD1.67%
Return on Equity - YTD17.17%
Annual Interest Income$3.8MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$212.5MM$174.7MM
LoansQ2 2022vs Q2 2021$140.9MM$111.6MM
DepositsQ2 2022vs Q2 2021$191.2MM$154.0MM
Equity CapitalQ2 2022vs Q2 2021$20.4MM$19.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$1.0MM$982.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$986.00K$477.00K
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates

Rates for Forest Area Federal Credit Union are currently being reviewed.

Locations


Forest Area Federal Credit Union Locations
Branch Office409 W Mile Rd NWKalkaska, MI 49646-8914
Branch Office638 Boyd StFife Lake, MI 49633-9333
Branch Office6966 Cougar TrlKingsley, MI 49649-8302
Branch Office314 W Main StManton, MI 49663-8050
Branch Office101 N Main StLake City, MI 49651
Branch Office101 Mesick AveMesick, MI 49668

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