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Forest Area Federal Credit Union

Popular Accounts at this Credit Union

1.66%5-year CD60 Month CD
0.65%1-year CD12 Month CD
0.20%SavingsSub Share Savings

Overview / Commentary
638 Boyd St
Fife Lake, MI 49633-9333

Forest Area Federal Credit Union is headquartered in Fife Lake and is the 101st largest credit union in the state of Michigan. It is also the 1,579th largest credit union in the nation. It was established in 1983 and as of June of 2016, it had grown to 35 employees and 11,317 members at 5 locations. Forest Area Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to those who live, regularly work, worship, or attend school in and businesses and other legal entities or immediate family members located in Kalkaska County, Michigan, Wexford County, Michigan, the townships of Union, Fife Lake, Paradise, Grant, and Mayfield of Grand Traverse County, Michigan, and Mancelona Township of Antrim County
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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. Forest Area Federal Credit Union has a relatively low asset base.

Health Grade Components

NCUA #24047
Year Chartered1983
Primary Regulator
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD4.48%
Annual Interest Income$1.7MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$99.8MM$97.3MM
LoansQ2 2016vs Q2 2015$45.8MM$46.5MM
DepositsQ2 2016vs Q2 2015$84.4MM$82.5MM
Equity CapitalQ2 2016vs Q2 2015$14.7MM$14.1MM
Loan Loss AllowanceQ2 2016vs Q2 2015$922.00K$978.00K
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$261.00K$507.00K
Real Estate OwnedQ2 2016vs Q2 2015$131.00K$413.00K
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Forest Area Federal Credit Union Savings Account Rates

0.35%--Christmas Club
0.20%*$2,500*-Share Savings
OTHER TIERS: 0.10% Up to $500 | 0.15% $500 - $2,500
0.20%*$2,500*-Sub Share Savings
OTHER TIERS: 0.10% Up to $500 | 0.15% $500 - $2,500

Forest Area Federal Credit Union CD Rates

1.66%$500-60 Month CD
1.46%$500-48 Month CD
1.36%$500-36 Month CD
0.90%$500-24 Month CD
0.65%$500-12 Month CD
0.35%$500-6 Month CD

Forest Area Federal Credit Union Locations
Branch Office638 Boyd StFife Lake, MI 49633-9333
Branch Office6966 Cougar TrlKingsley, MI 49649-8302
Branch Office516 N Michigan AveManton, MI 49663-9145
Branch Office782 S Cedar StKalkaska, MI 49646-9460
Branch Office409 W Mile Rd NWKalkaska, MI 49646-8914