Overview / Commentary
Lake Superior Credit Union is headquartered in Ontonagon and is the 199th largest credit union in the state of Michigan. It is also the 4,230th largest credit union in the nation. It was established in 1959 and as of June of 2020, it had grown to 4 employees and 1,236 members at 1 location. Lake Superior Credit Union has a C+ health rating.
Field of Membership Restrictions
Lake Superior Credit Union is open to those who love or work in Ontonagon County.
See current membership details
Health
C+
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. Lake Superior Credit Union has a very low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 65085 |
| Year Chartered | 1959 |
| Employees | 4 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.71% |
| Return on Equity - YTD | 8.54% |
| Annual Interest Income | $106.00K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $7.6MM$6.6MM |
| Loans | Q2 2020vs Q2 2019 | $3.9MM$3.6MM |
| Deposits | Q2 2020vs Q2 2019 | $7.0MM$6.1MM |
| Equity Capital | Q2 2020vs Q2 2019 | $585.00K$530.00K |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $18.00K$24.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $46.00K$36.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |