Michigan First Credit Union


Overview / Commentary
800-664-3828
27000 Evergreen Rd
Lathrup Village, MI 48076

Michigan First Credit Union is headquartered in Lathrup Village and is the 16th largest credit union in the state of Michigan. It is also the 307th largest credit union in the nation. It was established in 1926 and as of September of 2023, it had grown to 471 employees and 190,754 members at 28 locations. Michigan First Credit Union's money market rates are 6X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Michigan First Credit Union membership is open to those who live, work, or worship anywhere in the state of Michigan.
See current membership details

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Health
B+

Health Grade Components

Overall
NCUA #60522
Year Chartered1926
Employees471
Primary Regulator
Profit Margin
Return on Assets - YTD1.3%
Return on Equity - YTD11.63%
Annual Interest Income$52.2MM
Assets and Liabilities
AssetsQ3 2023vs Q3 2022$1.5B$1.51B
LoansQ3 2023vs Q3 2022$1.09B$1.07B
DepositsQ3 2023vs Q3 2022$1.05B$1.14B
Equity CapitalQ3 2023vs Q3 2022$168.9MM$156.1MM
Loan Loss AllowanceQ3 2023vs Q3 2022$9MM$8.8MM
Unbacked Noncurrent LoansQ3 2023vs Q3 2022$10.3MM$7MM
Real Estate OwnedQ3 2023vs Q3 2022$753K$423K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Michigan First Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Michigan First Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.50%*$100k*-SavingsPlus Account
OTHER TIERS: 1.00% Up to $5k | 3.00% $5k+
0.40%*$25k*-IRA Variable
OTHER TIERS: 0.20% $1 - $10k | 0.35% $10k - $25k
0.30%*$25k*-Savings Account
OTHER TIERS: 0.15% $1 - $1k | 0.20% $1k - $5k | 0.25% $5k - $25k
0.25%*$5k*-SavingsPlus (Without Bonus Rate)
OTHER TIERS: 0.15% Up to $5k
0.10%*$1k*-Business Savings Account
OTHER TIERS: 0.05% Up to $1k

Michigan First Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%*$500k*-Money Market Account
OTHER TIERS: 0.75% $2.5k - $5k | 0.85% $5k - $25k | 1.70% $25k - $100k | 2.00% $100k - $200k | 2.45% $200k - $500k
0.60%*$500k*-Business Money Market Account
OTHER TIERS: 0.25% $2.5k - $10k | 0.30% $10k - $25k | 0.45% $25k - $100k | 0.50% $100k - $500k

Michigan First Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%$10k-Premier Checking Account
0.25%$10k-First Gear Checking Account

Michigan First Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.59%$1k-16 Month CD
4.49%*$500k*-6 Month CD
OTHER TIERS: 1.00% $1k - $10k | 4.33% $10k - $50k | 4.39% $50k - $100k | 4.44% $100k - $500k
4.13%*$500k*-12 Month CD
OTHER TIERS: 0.50% $1k - $10k | 3.97% $10k - $50k | 4.02% $50k - $100k | 4.07% $100k - $500k
3.71%*$500k*-60 Month CD
OTHER TIERS: 1.00% $1k - $10k | 3.56% $10k - $50k | 3.61% $50k - $100k | 3.66% $100k - $500k
3.45%*$500k*-48 Month CD
OTHER TIERS: 0.95% $1k - $10k | 3.30% $10k - $50k | 3.35% $50k - $100k | 3.40% $100k - $500k
3.20%*$500k*-36 Month CD
OTHER TIERS: 0.85% $1k - $10k | 3.04% $10k - $50k | 3.09% $50k - $100k | 3.14% $100k - $500k
3.04%*$500k*-24 Month CD
OTHER TIERS: 0.75% $1k - $10k | 2.78% $10k - $50k | 2.84% $50k - $100k | 2.89% $100k - $500k
2.17%*$500k*-Business 60 Month CD
OTHER TIERS: 0.80% $1k - $10k | 0.85% $10k - $50k | 0.90% $50k - $100k | 1.21% $100k - $500k
2.07%*$500k*-Business 48 Month CD
OTHER TIERS: 0.70% $1k - $10k | 0.75% $10k - $50k | 0.80% $50k - $100k | 1.11% $100k - $500k
1.87%*$500k*-Business 36 Month CD
OTHER TIERS: 0.60% $1k - $10k | 0.70% $10k - $50k | 0.75% $50k - $100k | 1.06% $100k - $500k
1.66%*$500k*-Business 24 Month CD
OTHER TIERS: 0.35% $1k - $10k | 0.45% $10k - $50k | 0.50% $50k - $100k | 0.80% $100k - $500k
1.51%*$500k*-Business 12 Month CD
OTHER TIERS: 0.30% $1k - $10k | 0.40% $10k - $50k | 0.45% $50k - $100k | 0.75% $100k - $500k
1.26%*$500k*-Business 6 Month CD
OTHER TIERS: 0.05% $1k - $10k | 0.15% $10k - $50k | 0.20% $50k - $100k | 0.50% $100k - $500k

Michigan First Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%*$500k*-60 Month IRA
OTHER TIERS: 0.85% $1k - $10k | 0.90% $10k - $50k | 0.95% $50k - $100k | 1.00% $100k - $500k
1.26%*$500k*-48 Month IRA
OTHER TIERS: 0.75% $1k - $10k | 0.80% $10k - $50k | 0.85% $50k - $100k | 0.90% $100k - $500k
1.21%*$500k*-36 Month IRA
OTHER TIERS: 0.65% $1k - $10k | 0.75% $10k - $50k | 0.80% $50k - $100k | 0.85% $100k - $500k
1.00%*$500k*-24 Month IRA
OTHER TIERS: 0.50% $1k - $10k | 0.60% $10k - $50k | 0.65% $50k - $100k | 0.70% $100k - $500k
0.90%*$500k*-12 Month IRA
OTHER TIERS: 0.35% $1k - $10k | 0.45% $10k - $50k | 0.50% $50k - $100k | 0.55% $100k - $500k
Locations

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