Great Lakes First Federal Credit Union
Overview / Commentary
Great Lakes First Federal Credit Union is headquartered in Escanaba and is the 116th largest credit union in the state of Michigan. It is also the 1,831st largest credit union in the nation. It was established in 1949 and as of March of 2025, it had grown to 26 employees and 7,464 members at 2 locations. Great Lakes First Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Must live, work, worship or attend school in Delta County, the townships of Bay de Noc, Brampton, Ensign or Masonville or within a 4 mile radius of the post office located in Gladstone, Michigan. Also open to employees of Harnischfeger Corporation in Escanaba, Michigan or several other organizations.
See current membership details
Health
B+
Data as of Q1 2025
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. Great Lakes First Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 6102 |
| Year Chartered | 1949 |
| Employees | 26 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.51% |
| Return on Equity - YTD | 7.45% |
| Annual Interest Income | $1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $99.9MM$94.3MM |
| Loans | Q1 2025vs Q1 2024 | $39.2MM$41.6MM |
| Deposits | Q1 2025vs Q1 2024 | $92.6MM$89.2MM |
| Equity Capital | Q1 2025vs Q1 2024 | $6.7MM$4.5MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $273K$251K |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $353K$351K |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |