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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 290th largest credit union in the nation. It was established in 1926 and as of September of 2020, it had grown to 441 employees and 172,529 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 Q3 2020

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Health Grade Components

Overall
NCUA #60522
Year Chartered1926
Employees441
Primary Regulator
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD5.28%
Annual Interest Income$33.3MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$1.30B$995.5MM
LoansQ3 2020vs Q3 2019$805.5MM$664.5MM
DepositsQ3 2020vs Q3 2019$1.08B$741.9MM
Equity CapitalQ3 2020vs Q3 2019$147.9MM$136.7MM
Loan Loss AllowanceQ3 2020vs Q3 2019$13.1MM$11.8MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$5.4MM$7.8MM
Real Estate OwnedQ3 2020vs Q3 2019$130.00K$614.00K
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
0.20%*$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
0.25%*$25k*-Business Money Market Account
OTHER TIERS: 0.20% → $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
1.11%*$100k*-Business 60 Month CD
OTHER TIERS: 0.90% → $1k - $10k | 1.00% → $10k - $50k | 1.06% → $50k - $100k
1.06%*$100k*-Business 48 Month CD
OTHER TIERS: 0.85% → $1k - $10k | 0.90% → $10k - $50k | 1.00% → $50k - $100k
1.00%*$100k*-Business 36 Month CD
OTHER TIERS: 0.75% → $1k - $10k | 0.85% → $10k - $50k | 0.90% → $50k - $100k
1.00%*$100k*-60 Month CD
OTHER TIERS: 0.85% → $1k - $10k | 0.90% → $10k - $50k | 0.95% → $50k - $100k
0.95%*$100k*-Business 24 Month CD
OTHER TIERS: 0.65% → $1k - $10k | 0.75% → $10k - $50k | 0.85% → $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*-36 Month CD
OTHER TIERS: 0.65% → $1k - $10k | 0.75% → $10k - $50k | 0.80% → $50k - $100k
0.75%*$100k*-Business 12 Month CD
OTHER TIERS: 0.45% → $1k - $10k | 0.55% → $10k - $50k | 0.65% → $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*-12 Month CD
OTHER TIERS: 0.35% → $1k - $10k | 0.45% → $10k - $50k | 0.50% → $50k - $100k
0.50%*$100k*-Business 6 Month CD
OTHER TIERS: 0.35% → $1k - $10k | 0.45% → $10k - $100k
0.45%*$100k*-6 Month CD
OTHER TIERS: 0.25% → $1k - $10k | 0.35% → $10k - $50k | 0.40% → $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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