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 85th largest credit union in the state of Michigan. It is also the 1,357th largest credit union in the nation. It was established in 1983 and as of December of 2020, it had grown to 42 employees and 15,477 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
A+

Health Grade Components

Overall
NCUA #24047
Year Chartered1983
Employees42
Primary Regulator
Profit Margin
Return on Assets - YTD0.6%
Return on Equity - YTD4.98%
Annual Interest Income$5.6MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$158.0MM$127.1MM
LoansQ4 2020vs Q4 2019$104.7MM$81.1MM
DepositsQ4 2020vs Q4 2019$138.5MM$108.6MM
Equity CapitalQ4 2020vs Q4 2019$18.5MM$17.4MM
Loan Loss AllowanceQ4 2020vs Q4 2019$1.0MM$563.00K
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$319.00K$545.00K
Real Estate OwnedQ4 2020vs Q4 2019$0$20.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--Roth IRA Shares
0.50%--Traditional IRA
0.35%$10-Christmas Club
0.15%*$500*-Sub Shares
OTHER TIERS: 0.10% $10 - $500
0.15%*$500*-Regular Shares
OTHER TIERS: 0.10% $10 - $500
0.15%*$500*-Business Regular Shares
OTHER TIERS: 0.10% $10 - $500
0.15%*$500*-Business Sub Shares
OTHER TIERS: 0.10% $10 - $500

Forest Area Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.04%-$15kSuperior Checking Account

Forest Area Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%$500-60 Month Share Certificate
0.50%$500-48 Month Share Certificate
0.40%$500-36 Month Share Certificate
0.40%$500-12 Month Youth Share Certificate
0.30%$500-6 Month Youth Share Certificate
0.30%$500-24 Month Share Certificate
0.20%$500-12 Month Share Certificate
0.15%$500-3 Month Share Certificate
0.15%$500-6 Month Share Certificate

Forest Area Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%$500-60 Month IRA
0.50%$500-48 Month IRA
0.40%$500-36 Month IRA
Locations


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

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