Michigan Schools And Government Credit Union is headquartered in Clinton Township and is the 6th largest credit union in the state of Michigan. It is also the 122nd largest credit union in the nation. It was established in 1954 and as of March of 2025, it had grown to 454 employees and 153,455 members at 22 locations. Michigan Schools And Government Credit Union's savings rates are 4X the national average, and it boasts an A+ health rating.
Membership in Michigan Schools and Government Credit Union is open anyone who lives, works, worships, or attends school in any Michigan county.
See current membership details
Just became a member, and so far am impressed! Super easy to join via online application. Approved within a day. Funding via wire went smoothly. Customer portal is pretty good. Have talked with 3 different reps (with questions), and every single person I spoke with was knowledgeable and helpful. Plus, they just seemed to be genuinely happy people (!). Big contrast to folks at other banks and CUs in that regard. Read that one of the local papers (maybe Detroit Free Press) awarded them with a "top workplace" or similar award for many years running, so presumably they must have a good culture with happy employees. Also like that there are (at current time) 17 brick and mortar locations to visit if needed. So far, so good!
Overall | |
---|---|
NCUA # | 62049 |
Year Chartered | 1954 |
Employees | 454 |
Primary Regulator |
Profit Margin | |
---|---|
Return on Assets - YTD | 0.41% |
Return on Equity - YTD | 3.43% |
Annual Interest Income | $47.7MM |
Assets and Liabilities | ||
---|---|---|
Assets | Q1 2025vs Q1 2024 | $3.97B$3.67B |
Loans | Q1 2025vs Q1 2024 | $3.41B$3.13B |
Deposits | Q1 2025vs Q1 2024 | $3.34B$2.97B |
Equity Capital | Q1 2025vs Q1 2024 | $468.5MM$436.5MM |
Loan Loss Allowance | Q1 2025vs Q1 2024 | $20MM$17.7MM |
Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $14.3MM$9.8MM |
Real Estate Owned | Q1 2025vs Q1 2024 | $229K$100K |
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.40%* | $25k* | - | Money Market Checking | ||
OTHER TIERS: 0.20% → $2.5k - $25k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.35%* | $100k* | - | Business Essential Checking Plus | ||
OTHER TIERS: 0.10% → $10k - $25k | 0.25% → $25k - $50k | 0.30% → $50k - $100k |