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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 14th largest credit union in the state of Michigan. It is also the 302nd largest credit union in the nation. It was established in 1926 and as of June of 2022, it had grown to 492 employees and 187,210 members at 28 locations. Michigan First Credit Union's money market rates are 14% higher than the national average, and it 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 Q2 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #60522
Year Chartered1926
Employees492
Primary Regulator
Profit Margin
Return on Assets - YTD1.11%
Return on Equity - YTD10.61%
Annual Interest Income$24.6MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$1.47B$1.47B
LoansQ2 2022vs Q2 2021$1.01B$884.4MM
DepositsQ2 2022vs Q2 2021$1.24B$1.24B
Equity CapitalQ2 2022vs Q2 2021$155.7MM$160.3MM
Loan Loss AllowanceQ2 2022vs Q2 2021$9.3MM$11.8MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$5.5MM$4.2MM
Real Estate OwnedQ2 2022vs Q2 2021$0$61.00K
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
1.00%*$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
0.50%*$500k*-Business Money Market Account
OTHER TIERS: 0.10% → $2.5k - $25k | 0.15% → $25k - $100k | 0.25% → $100k - $500k
0.50%*$500k*-Money Market Account
OTHER TIERS: 0.20% → $2.5k - $25k | 0.25% → $25k - $100k | 0.30% → $100k - $200k | 0.35% → $200k - $500k

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
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
1.51%*$500k*-60 Month CD
OTHER TIERS: 0.85% → $1k - $10k | 0.90% → $10k - $50k | 0.95% → $50k - $100k | 1.00% → $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
1.26%*$500k*-48 Month CD
OTHER TIERS: 0.75% → $1k - $10k | 0.80% → $10k - $50k | 0.85% → $50k - $100k | 0.90% → $100k - $500k
1.21%*$500k*-36 Month CD
OTHER TIERS: 0.65% → $1k - $10k | 0.75% → $10k - $50k | 0.80% → $50k - $100k | 0.85% → $100k - $500k
1.00%*$500k*-24 Month CD
OTHER TIERS: 0.50% → $1k - $10k | 0.60% → $10k - $50k | 0.65% → $50k - $100k | 0.70% → $100k - $500k
0.90%*$500k*-12 Month CD
OTHER TIERS: 0.35% → $1k - $10k | 0.45% → $10k - $50k | 0.50% → $50k - $100k | 0.55% → $100k - $500k
0.80%*$500k*-6 Month CD
OTHER TIERS: 0.25% → $1k - $10k | 0.35% → $10k - $50k | 0.40% → $50k - $100k | 0.45% → $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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