Great Lakes First Federal Credit Union

Overview / Commentary
2110 3rd Ave N
Escanaba, MI 49829-2333

Great Lakes First Federal Credit Union is headquartered in Escanaba and is the 119th largest credit union in the state of Michigan. It is also the 1,915th largest credit union in the nation. It was established in 1949 and as of June of 2019, it had grown to 27 employees and 8,134 members at 2 locations. Great Lakes First Federal Credit Union's CD rates are 12% higher than the national average, and it 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.
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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. Great Lakes First Federal Credit Union has a relatively low asset base.

Health Grade Components

NCUA #6102
Year Chartered1949
Primary Regulator
Profit Margin
Return on Assets - YTD0.91%
Return on Equity - YTD8.27%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$74.8MM$72.3MM
LoansQ2 2019vs Q2 2018$37.2MM$34.3MM
DepositsQ2 2019vs Q2 2018$65.8MM$64.8MM
Equity CapitalQ2 2019vs Q2 2018$8.2MM$6.8MM
Loan Loss AllowanceQ2 2019vs Q2 2018$334.00K$258.00K
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$539.00K$285.00K
Real Estate OwnedQ2 2019vs Q2 2018$0$34.00K
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Great Lakes First Federal Credit Union Savings Account Rates

0.20%--Shares Savings
0.20%--Christmas Club
0.20%--Vacation Club

Great Lakes First Federal Credit Union Checking Account Rates

0.10%--Draft Account

Great Lakes First Federal Credit Union CD Rates

2.32%$1k-60 Month CD
2.02%$1k-48 Month CD
1.76%$1k-36 Month CD
1.51%$1k-30 Month CD
1.36%$1k-24 Month CD
1.11%$1k-18 Month CD
1.01%$1k-12 Month CD
0.75%$1k-6 Month CD

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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