Overview / Commentary
Michigan Columbus Federal Credit Union is headquartered in Livonia and is the 126th largest credit union in the state of Michigan. It is also the 2,041st largest credit union in the nation. It was established in 1947 and as of June of 2024, it had grown to 12 employees and 7,580 members at 3 locations. Michigan Columbus Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Michigan Columbus Federal Credit Union is open to all businesses and anyone who lives, works, worships, or goes to school in Livonia, MI. Family of current credit union members and employees of the credit union are also eligible to join.
See current membership details
Health
B+
Data as of Q2 2024
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. Michigan Columbus Federal Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 5554 |
| Year Chartered | 1947 |
| Employees | 12 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.1% |
| Return on Equity - YTD | 9.28% |
| Annual Interest Income | $1.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $79MM$86.2MM |
| Loans | Q2 2024vs Q2 2023 | $29.4MM$28.3MM |
| Deposits | Q2 2024vs Q2 2023 | $68.5MM$76.8MM |
| Equity Capital | Q2 2024vs Q2 2023 | $9.5MM$8.7MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $259K$249K |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $69K$258K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |