Great Lakes First Federal Credit Union


Overview / Commentary
906-786-4623
2110 3rd Ave N
Escanaba, MI 49829

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

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Health
B+
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. Great Lakes First Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #6102
Year Chartered1949
Employees26
Primary Regulator
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD3.82%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$83.9MM$74.8MM
LoansQ2 2020vs Q2 2019$35.1MM$37.2MM
DepositsQ2 2020vs Q2 2019$73.9MM$65.8MM
Equity CapitalQ2 2020vs Q2 2019$9.1MM$8.2MM
Loan Loss AllowanceQ2 2020vs Q2 2019$366.00K$334.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$592.00K$539.00K
Real Estate OwnedQ2 2020vs Q2 2019$198.00K$0
Rates
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Great Lakes First Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--IRA
0.10%--Shares Savings
0.10%--Christmas Club
0.10%--Vacation Club
0.05%--HSA Account

Great Lakes First Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Draft Account

Great Lakes First Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%$1k-60 Month CD
1.15%$1k-48 Month CD
1.00%$1k-36 Month CD
0.90%$1k-30 Month CD
0.85%$1k-24 Month CD
0.70%$1k-18 Month CD
0.60%$1k-12 Month CD
0.40%$1k-6 Month CD
Locations


Great Lakes First Federal Credit Union Locations
Branch Office1005 Delta AveGladstone, MI 49837
Branch Office2110 3rd Ave NEscanaba, MI 49829-2333

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