Great Lakes First Federal Credit Union
LOCATIONS
2
View locations
HEALTH RATING
B+
View health report
CURRENT TOP RATE
1.25% APY
60 Month CD
View all rates
Overview / Commentary
Great Lakes First Federal Credit Union is headquartered in Escanaba and is the 118th largest credit union in the state of Michigan. It is also the 1,900th largest credit union in the nation. It was established in 1949 and as of June of 2020, it had grown to 26 employees and 7,982 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 Q2 2020
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 | 0.44% |
| Return on Equity - YTD | 3.82% |
| Annual Interest Income | $1.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $83.9MM$74.8MM |
| Loans | Q2 2020vs Q2 2019 | $35.1MM$37.2MM |
| Deposits | Q2 2020vs Q2 2019 | $73.9MM$65.8MM |
| Equity Capital | Q2 2020vs Q2 2019 | $9.1MM$8.2MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $366.00K$334.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $592.00K$539.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $198.00K$0 |