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The Local Credit Union (MI)


Overview / Commentary
www.thelocalcreditunion.com
586-264-1212
39139 Mound Rd
Sterling Heights, MI 48310

The Local Credit Union (MI) is headquartered in Sterling Heights and is the 110th largest credit union in the state of Michigan. It is also the 1,699th largest credit union in the nation. It was established in 1949 and as of March of 2021, it had grown to 20 employees and 10,848 members at 1 location. The Local Credit Union (MI) has an A+ health rating.

Field of Membership Restrictions

Membership is open to members of union locals headquartered in Macomb, Wayne or Oakland Counties and retirees receiving a pension or social security.
See current membership details

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Health
A+

Data as of Q1 2021

Learn why bank health matters

Health Grade Components

Overall
NCUA #63342
Year Chartered1949
Employees20
Primary Regulator
Profit Margin
Return on Assets - YTD0.15%
Return on Equity - YTD1.06%
Annual Interest Income$753.00K
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$113.1MM$100.1MM
LoansQ1 2021vs Q1 2020$45.3MM$47.2MM
DepositsQ1 2021vs Q1 2020$96.3MM$84.7MM
Equity CapitalQ1 2021vs Q1 2020$15.5MM$15.1MM
Loan Loss AllowanceQ1 2021vs Q1 2020$470.00K$578.00K
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$195.00K$666.00K
Real Estate OwnedQ1 2021vs Q1 2020$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

The Local Credit Union (MI) Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%*-$75kKasasa Saver
OTHER TIERS: 0.25% → $75k+
0.30%*$1k*-Roth IRA Daily
OTHER TIERS: 0.15% → $1 - $1k
0.10%$1-Regular Share Savings
0.05%$1-Daily Share Savings
0.05%$1-Vacation Club
0.05%$1-Escrow Savings
0.05%$1-Christmas Club

The Local Credit Union (MI) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$20k*-Flexible Money Fund
OTHER TIERS: 0.05% → $1k - $2.5k | 0.15% → $2.5k - $20k

The Local Credit Union (MI) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%*-$15kKasasa Cash
OTHER TIERS: 0.25% → $15k+

The Local Credit Union (MI) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%$500-60 Month CD
1.00%$500-48 Month CD
0.85%$500-36 Month CD
0.65%$500-24 Month CD
0.55%$500-18 Month CD
0.50%$500-12 Month CD
0.45%$25-12 Month Save to Win CD
0.25%$500-6 Month CD
0.15%$500-3 Month CD
Locations


The Local Credit Union (MI) Locations
Branch Office39139 Mound RdSterling Heights, MI 48310-2737

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