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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 291st largest credit union in the nation. It was established in 1926 and as of March of 2021, it had grown to 427 employees and 179,437 members at 28 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 Q1 2021

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Health Grade Components

Overall
NCUA #60522
Year Chartered1926
Employees427
Primary Regulator
Profit Margin
Return on Assets - YTD1.34%
Return on Equity - YTD11.93%
Annual Interest Income$11.2MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$1.44B$1.04B
LoansQ1 2021vs Q1 2020$862.6MM$678.3MM
DepositsQ1 2021vs Q1 2020$1.21B$805.5MM
Equity CapitalQ1 2021vs Q1 2020$155.1MM$141.7MM
Loan Loss AllowanceQ1 2021vs Q1 2020$11.2MM$11.9MM
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$3.9MM$7.6MM
Real Estate OwnedQ1 2021vs Q1 2020$76.00K$150.00K
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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