Health Advantage Credit Union is headquartered in SAGINAW and is the 81st largest credit union in the state of Michigan. It is also the 1,326th largest credit union in the nation. It was established in 1970 and as of December of 2019, it had grown to 35 employees and 11,959 members at 2 locations. Health Advantage Credit Union has an A+ health rating.
Field of Membership Restrictions
Health Advantage Credit Union is open to employees, independent contractors, or self-employed persons who regularly work in the Health Care Industry anywhere in the State of Michigan.
See current membership details
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Great Rates And Customer Service, But Hard Credit Pull, Even On Savings Products
I contacted this highly rated institution to ask whether they did a hard or soft credit pull when a customer is only opening a CD or savings account; and also to ask about our eligibility for membership. I received a prompt and professional reply, letting me know that I was eligible for membership based on my wife's medical lab work, and the associate invited me to contact her if I had any further questions. While this credit union has very high CD rates, low EWP, and apparently excellent customer service--they unfortunately do a hard credit pull (the associate stated so in her email) even for savings products. As a result, my wife and I decided not to join at this time.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 20007 |
| Year Chartered | 1970 |
| Employees | 35 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.8% |
| Return on Equity - YTD | 6.5% |
| Annual Interest Income | $5.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2019vs Q4 2018 | $141.8MM$132.5MM |
| Loans | Q4 2019vs Q4 2018 | $94.7MM$89.9MM |
| Deposits | Q4 2019vs Q4 2018 | $123.8MM$116.3MM |
| Equity Capital | Q4 2019vs Q4 2018 | $17.3MM$15.6MM |
| Loan Loss Allowance | Q4 2019vs Q4 2018 | $345.00K$339.00K |
| Unbacked Noncurrent Loans | Q4 2019vs Q4 2018 | $156.00K$171.00K |
| Real Estate Owned | Q4 2019vs Q4 2018 | $0$0 |