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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 17th largest credit union in the state of Michigan. It is also the 319th largest credit union in the nation. It was established in 1926 and as of June of 2024, it had grown to 489 employees and 166,064 members at 29 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.
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Health
B+

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
NCUA #60522
Year Chartered1926
Employees489
Primary Regulator
Profit Margin
Return on Assets - YTD1.46%
Return on Equity - YTD11.5%
Annual Interest Income$38.2MM
Assets and Liabilities
AssetsQ2 2024vs Q2 2023$1.47B$1.52B
LoansQ2 2024vs Q2 2023$1.04B$1.11B
DepositsQ2 2024vs Q2 2023$1.08B$1.08B
Equity CapitalQ2 2024vs Q2 2023$189.3MM$169.4MM
Loan Loss AllowanceQ2 2024vs Q2 2023$11.5MM$9.1MM
Unbacked Noncurrent LoansQ2 2024vs Q2 2023$9.1MM$7.9MM
Real Estate OwnedQ2 2024vs Q2 2023$850K$180K
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
3.50%*$100k*-SavingsPlus Account
OTHER TIERS: 1.00% → $0 - $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% → $0 - $5k
0.10%*$1k*-Business Savings Account
OTHER TIERS: 0.05% → $0 - $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
4.49%*$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
3.30%$1k-16 Month CD
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
2.02%*$500k*-Business 12 Month CD
OTHER TIERS: 1.31% → $1k - $10k | 1.41% → $10k - $50k | 1.51% → $50k - $100k | 1.76% → $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
1.76%*$500k*-Business 6 Month CD
OTHER TIERS: 1.06% → $1k - $10k | 1.16% → $10k - $50k | 1.26% → $50k - $100k | 1.51% → $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

Michigan First Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.76%*$500k*-12 Month IRA
OTHER TIERS: 3.56% → $1k - $10k | 3.61% → $10k - $50k | 3.66% → $50k - $100k | 3.71% → $100k - $500k
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
Locations

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