Members First Credit Union (MI) is headquartered in Midland and is the 31st largest credit union in the state of Michigan. It is also the 531st largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 236 employees and 60,757 members at 11 locations. Members First Credit Union (MI)'s CD rates are 5X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Members First Credit Union is open to individuals who live, worship, work, or attend school in the State of Michigan. Immediate family of existing members are also be eligible.
See current membership details
My credit union
In all, I have been satisfied with my credit union for the last 30 years. I provided special services because of its coordination with the related work place. However, I did have some dissatisfaction with what I considered tight and hard lending policies. We were turned down a couple of times for loans that I felt should have been approved. It seemed our 30 years of time with them did not matter.
Awful And Disrespectful
Sure, they seem nice at first but then use bait and switch tactics when applying for a loan, to try to get you locked into a higher interest rate. Call center people ask for your account number and social security number as if it is their God-given right to have it. Security breech caused me to have to use a new debit card. When walking in to change the new debit card pin, teller never asked for my ID.
I even once ha a teller grab my drivers license out of my hand then ask for my date of birth ( which is on the license, duh!). However, he could not hear me because he had some headset on his head. Meanwhile, two other tellers just stood there starring at me.
Loan officer was a snotty millennial who did not bother to even shake my hand at the end of our deal or thank me. RUDE RUDE RUDE.
And forget asking to speak to management to make a complaint, they want your account number just to do that.
Data as of Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 62076 |
| Year Chartered | 1936 |
| Employees | 236 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 10.34% |
| Annual Interest Income | $20.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $763.8MM$716.3MM |
| Loans | Q3 2022vs Q3 2021 | $516.3MM$387.4MM |
| Deposits | Q3 2022vs Q3 2021 | $689.3MM$637.5MM |
| Equity Capital | Q3 2022vs Q3 2021 | $55.2MM$70.9MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $3.6MM$2.6MM |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $3.0MM$1.5MM |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$38.00K |
