Featured Savings Rates
Featured Accounts

Michigan Educational Credit Union

Popular Accounts at this Credit Union

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

Overview / Commentary
888-261-3355
9200 N Haggerty Rd
Plymouth, MI 48170-4633

Michigan Educational Credit Union is headquartered in Plymouth and is the 14th largest credit union in the state of Michigan. It is also the 359th largest credit union in the nation. It was established in 1942 and as of September of 2016, it had grown to 74 employees and 48,345 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

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
A+

Health Grade Components

Overall
NCUA #60931
Year Chartered1942
Employees74
Primary Regulator
Profit Margin
Return on Assets - YTD0.51%
Return on Equity - YTD3.92%
Annual Interest Income$15.0MM
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$753.6MM$715.5MM
LoansQ3 2016vs Q3 2015$418.8MM$371.4MM
DepositsQ3 2016vs Q3 2015$653.1MM$621.2MM
Equity CapitalQ3 2016vs Q3 2015$97.4MM$91.7MM
Loan Loss AllowanceQ3 2016vs Q3 2015$2.5MM$2.6MM
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$1.3MM$1.1MM
Real Estate OwnedQ3 2016vs Q3 2015$120.00K$120.00K
Rates
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Michigan Educational Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%--Share Draft (Checking) Account

Michigan Educational Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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
Locations


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