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Michigan Educational Credit Union

Popular Accounts at this Credit Union

1.85%5-year CD60 Month Share Certificate
0.60%1-year CD365 Day Share Certificate
0.15%SavingsShare Savings Account

Overview / Commentary
9200 N Haggerty Rd
Plymouth, MI 48170-4633

Michigan Educational Credit Union is headquartered in Plymouth and is the 13th largest credit union in the state of Michigan. It is also the 354th largest credit union in the nation. It was established in 1942 and as of June of 2016, it had grown to 73 employees and 47,800 members at 6 locations. Michigan Educational Credit Union has an A+ health rating.

Field of Membership Restrictions

Michigan Educational Credit Union is open to those who live, worship or work in Wayne, Washtenaw, Oakland, Macomb, Livingston, and Jackson Counties in Michigan.
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Reviews (1)

Michigan Educational Credit Union is better than banks, but sub-optimal in...

Posted by: ShannonH | Jan 11, 2015

Michigan Educational Credit Union is better than banks, but sub-optimal in terms of credit unions. I have used many credit unions as I have always tried to stay away from the banks who rob us and keep us living under the bridges. The Michigan Educational Credit Union has great customer service, but the online features are lacking to say the least. Their overage charges are better than banks such as the crooks of Fifth Third Bank, but I prefer other credit unions as MECU can get a little ridiculous and can turn into a snowball that is hard to get out of it. They do offer overdraft protection loans which is very kind. The locations are what bother me and the lacking internet features only makes it worse.


Health Grade Components

NCUA #60931
Year Chartered1942
Primary Regulator
Profit Margin
Return on Assets - YTD0.51%
Return on Equity - YTD3.94%
Annual Interest Income$10.0MM
Assets and Liabilities
AssetsQ2 2016vs Q2 2015$752.3MM$724.9MM
LoansQ2 2016vs Q2 2015$406.1MM$316.8MM
DepositsQ2 2016vs Q2 2015$652.3MM$632.8MM
Equity CapitalQ2 2016vs Q2 2015$97.1MM$89.5MM
Loan Loss AllowanceQ2 2016vs Q2 2015$2.6MM$2.2MM
Unbacked Noncurrent LoansQ2 2016vs Q2 2015$916.00K$1.2MM
Real Estate OwnedQ2 2016vs Q2 2015$120.00K$181.00K
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Michigan Educational Credit Union Savings Account Rates

0.30%$50-Individual Retirement Account
0.30%$50-Deferred Compensation Account
0.30%$50-Roth IRA Savings
0.30%$50-Coverdell Education Savings Account
0.15%--Share Savings Account
0.15%--Christmas Club
0.15%--Vacation Club

Michigan Educational Credit Union Checking Account Rates

0.05%--Share Draft (Checking) Account

Michigan Educational Credit Union CD Rates

1.85%$5k-60 Month Share Certificate
1.50%$5k-48 Month Share Certificate
1.10%$5k-36 Month Share Certificate
0.85%$5k-24 Month Share Certificate
0.85%$5k-30 Month Share Certificate
0.60%$2,500-365 Day Share Certificate
0.60%$5k-18 Month Share Certificate
0.30%$2,500-182 Day Share Certificate
0.20%$2,500-91 Day Share Certificate

Michigan Educational Credit Union IRA Rates

1.85%$2k-60 Month IRA Certificate
1.50%$2k-48 Month IRA Certificate
1.10%$2k-36 Month IRA Certificate
0.85%$2k-24 Month IRA Certificate
0.85%$2k-30 Month IRA Certificate
0.60%$2k-365 Day IRA Certificate
0.60%$2k-18 Month IRA Certificate
0.30%$2k-182 Day IRA Certificate
0.20%$2k-91 Day IRA Certificate

Michigan Educational Credit Union Locations
Branch Office14921 Middlebelt RdLivonia, MI 48154-4032
Branch Office47230 Hayes RdMacomb, MI 48044-5023
Branch Office1903 Rochester RdRoyal Oak, MI 48073
Branch Office9200 N Haggerty RdPlymouth, MI 48170-4633
Branch Office4141 Jackson RdAnn Arbor, MI 48103-1827
Branch Office123 Brighton Lake RdBrighton, MI 48116-6721