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Overview / Commentary
22720 Michigan Avenue
Dearborn, MI 48124

Great Lakes Members Credit Union is headquartered in Dearborn and is the 220th largest credit union in the state of Michigan. It is also the 4,280th largest credit union in the nation. It was established in 1941 and as of June of 2016, it had grown to 5 employees and 1,260 members at 2 locations. Great Lakes Members Credit Union has a C+ health rating.

Field of Membership Restrictions

Great Lakes Members Credit Union of Michigan is open to businesses, accredited institutions, residents, church members, registered students and the people that maintain employment within these qualified cities and towns: Dearborn, Dearborn Heights, Garden City, Inkster, Wayne, Westland, Livonia, and the town of Redford, along with the people that still qualify as eligible under the original field of membership by their particular employment classification and residential location that is defined and listed on the credit union website, Dearborn Postal Employees, and the family members of current credit union members.
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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 Members Credit Union has a very low asset base.

Health Grade Components

NCUA #61888
Year Chartered1941
Primary Regulator
Profit Margin
Return on Assets - YTD-1.35%
Return on Equity - YTD-4.81%
Annual Interest Income$137.00K
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$9.8MM$10.0MM
LoansQ2 2016vs Q2 2015$4.8MM$3.5MM
DepositsQ2 2016vs Q2 2015$6.9MM$7.0MM
Equity CapitalQ2 2016vs Q2 2015$2.8MM$2.9MM
Loan Loss AllowanceQ2 2016vs Q2 2015$8.00K$12.00K
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$0$15.00K
Real Estate OwnedQ2 2016vs Q2 2015$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Great Lakes Members Credit Union Savings Account Rates

0.15%--IRA Savings
0.05%--Share Savings

Great Lakes Members Credit Union CD Rates

1.05%*$10k*-5 Year CD
OTHER TIERS: 1.00% $500 - $10k
0.55%*$10k*-3 Year CD
OTHER TIERS: 0.50% $500 - $10k
0.40%*$10k*-2 Year CD
OTHER TIERS: 0.35% $500 - $10k
0.25%*$10k*-1 Year CD
OTHER TIERS: 0.20% $500 - $10k
0.15%*$10k*-6 Month CD
OTHER TIERS: 0.10% $500 - $10k

Great Lakes Members Credit Union Locations
Branch Office22720 Michigan AveDearborn, MI 48124
Branch Office23617 Liberty StFarmington, MI 48335-3530