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Michigan First Credit Union


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

Michigan First Credit Union is headquartered in Lathrup Village and is the 13th largest credit union in the state of Michigan. It is also the 293rd largest credit union in the nation. It was established in 1926 and as of December of 2020, it had grown to 442 employees and 175,379 members at 29 locations. Michigan First Credit Union has an A+ health rating.

Field of Membership Restrictions

Michigan First Credit Union membership is open to those who live, worship or work within the state of Michigan.
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Health
A+

Data as of Q4 2020

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Health Grade Components

Overall
NCUA #60522
Year Chartered1926
Employees442
Primary Regulator
Profit Margin
Return on Assets - YTD0.79%
Return on Equity - YTD6.8%
Annual Interest Income$45.0MM
Assets and Liabilities
AssetsQ4 2020vs Q4 2019$1.32B$980.1MM
LoansQ4 2020vs Q4 2019$842.4MM$668.8MM
DepositsQ4 2020vs Q4 2019$1.09B$746.1MM
Equity CapitalQ4 2020vs Q4 2019$152.6MM$137.8MM
Loan Loss AllowanceQ4 2020vs Q4 2019$11.1MM$11.5MM
Unbacked Noncurrent LoansQ4 2020vs Q4 2019$4.7MM$6.9MM
Real Estate OwnedQ4 2020vs Q4 2019$130.00K$585.00K
Rates
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* 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
0.80%*$5k*-SavingsPlus Account
OTHER TIERS: 0.65% → Up to $5k
0.25%*$25k*-Savings Account
OTHER TIERS: 0.15% → $1 - $1k | 0.20% → $1k - $25k
0.25%*$5k*-SavingsPlus (Without Bonus Rate)
OTHER TIERS: 0.15% → Up to $5k
0.25%*$25k*-IRA Variable
OTHER TIERS: 0.20% → $1 - $25k
0.10%*$1k*-Business Savings Account
OTHER TIERS: 0.05% → Up to $1k

Michigan First Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%*$200k*-Money Market Account
OTHER TIERS: 0.20% → $2.5k - $25k | 0.25% → $25k - $100k | 0.30% → $100k - $200k
0.15%*$25k*-Business Money Market Account
OTHER TIERS: 0.10% → $2.5k - $25k

Michigan First Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$10k-Premier Checking Account
0.10%$10k-First Gear Checking Account

Michigan First Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$100k*-60 Month CD
OTHER TIERS: 0.85% → $1k - $10k | 0.90% → $10k - $50k | 0.95% → $50k - $100k
0.95%*$100k*-Business 60 Month CD
OTHER TIERS: 0.80% → $1k - $10k | 0.85% → $10k - $50k | 0.90% → $50k - $100k
0.90%*$100k*-48 Month CD
OTHER TIERS: 0.75% → $1k - $10k | 0.80% → $10k - $50k | 0.85% → $50k - $100k
0.85%*$100k*-Business 48 Month CD
OTHER TIERS: 0.70% → $1k - $10k | 0.75% → $10k - $50k | 0.80% → $50k - $100k
0.85%*$100k*-36 Month CD
OTHER TIERS: 0.65% → $1k - $10k | 0.75% → $10k - $50k | 0.80% → $50k - $100k
0.80%*$100k*-Business 36 Month CD
OTHER TIERS: 0.60% → $1k - $10k | 0.70% → $10k - $50k | 0.75% → $50k - $100k
0.70%*$100k*-24 Month CD
OTHER TIERS: 0.50% → $1k - $10k | 0.60% → $10k - $50k | 0.65% → $50k - $100k
0.55%*$100k*-Business 24 Month CD
OTHER TIERS: 0.35% → $1k - $10k | 0.45% → $10k - $50k | 0.50% → $50k - $100k
0.55%*$100k*-12 Month CD
OTHER TIERS: 0.35% → $1k - $10k | 0.45% → $10k - $50k | 0.50% → $50k - $100k
0.50%*$100k*-Business 12 Month CD
OTHER TIERS: 0.30% → $1k - $10k | 0.40% → $10k - $50k | 0.45% → $50k - $100k
0.45%*$100k*-6 Month CD
OTHER TIERS: 0.25% → $1k - $10k | 0.35% → $10k - $50k | 0.40% → $50k - $100k
0.25%*$100k*-Business 6 Month CD
OTHER TIERS: 0.05% → $1k - $10k | 0.15% → $10k - $50k | 0.20% → $50k - $100k

Michigan First Credit Union IRA Rates

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

Availability



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