Michigan Educational Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 2.15% | 5-year CD | 60 Month Share Certificate 2.25% - Bank of Internet USA 60 Month CD |
| 0.90% | 1-year CD | 365 Day Share Certificate 1.50% - Ally Bank No Penalty 11-Month CD |
| 0.15% | Savings | Regular Share Savings 1.20% - Ally Bank Online Savings Account |
Michigan Educational Credit Union is headquartered in Plymouth and is the 14th largest credit union in the state of Michigan. It is also the 357th largest credit union in the nation. It was established in 1942 and as of June of 2017, it had grown to 74 employees and 49,181 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.
See current membership details
Michigan Educational Credit Union is better than banks, but sub-optimal in...
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
| Overall | |
|---|---|
| NCUA # | 60931 |
| Year Chartered | 1942 |
| Employees | 74 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.42% |
| Return on Equity - YTD | 3.47% |
| Annual Interest Income | $10.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $798.9MM$752.3MM |
| Loans | Q2 2017vs Q2 2016 | $447.3MM$406.1MM |
| Deposits | Q2 2017vs Q2 2016 | $698.0MM$652.3MM |
| Equity Capital | Q2 2017vs Q2 2016 | $96.8MM$97.1MM |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $2.6MM$2.6MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $1.5MM$916.00K |
| Real Estate Owned | Q2 2017vs Q2 2016 | $120.00K$120.00K |
Always verify rates and promotions with the bank or credit union. We are not Michigan Educational Credit Union; we are a rate comparison website and cannot provide official rates or promotions.
Michigan Educational Credit Union Savings Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.30% | $50 | - | Individual Retirement Account | |
| 0.30% | $50 | - | Deferred Compensation Account | |
| 0.15% | - | - | Regular Share Savings | |
| 0.15% | - | - | Christmas Club | |
| 0.15% | - | - | Vacation Club |
Michigan Educational Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.05% | - | - | Share Draft/Checking |
Michigan Educational Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.15% | $5k | - | 60 Month Share Certificate | |
| 1.95% | $5k | - | 48 Month Share Certificate | |
| 1.55% | $5k | - | 36 Month Share Certificate | |
| 1.15% | $5k | - | 24 Month Share Certificate | |
| 1.15% | $5k | - | 30 Month Share Certificate | |
| 0.90% | $2,500 | - | 365 Day Share Certificate | |
| 0.90% | $5k | - | 18 Month Share Certificate | |
| 0.50% | $2,500 | - | 182 Day Share Certificate | |
| 0.40% | $2,500 | - | 91 Day Share Certificate |
Michigan Educational Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.15% | $2k | - | 60 Month IRA Certificate | |
| 1.95% | $2k | - | 48 Month IRA Certificate | |
| 1.55% | $2k | - | 36 Month IRA Certificate | |
| 1.15% | $2k | - | 24 Month IRA Certificate | |
| 1.15% | $2k | - | 30 Month IRA Certificate | |
| 0.90% | $2k | - | 365 Day IRA Certificate | |
| 0.90% | $2k | - | 18 Month IRA Certificate | |
| 0.50% | $2k | - | 182 Day IRA Certificate | |
| 0.40% | $2k | - | 91 Day IRA Certificate |
| Michigan Educational Credit Union Locations | ||
|---|---|---|
| Branch Office | 14921 Middlebelt Rd | Livonia, MI 48154-4032 |
| Branch Office | 47230 Hayes Rd | Macomb, MI 48044-5023 |
| Branch Office | 1903 Rochester Rd | Royal Oak, MI 48073 |
| Branch Office | 9200 N Haggerty Rd | Plymouth, MI 48170-4633 |
| Branch Office | 4141 Jackson Rd | Ann Arbor, MI 48103-1827 |
| Branch Office | 123 Brighton Lake Rd | Brighton, MI 48116-6721 |