Overview / Commentary
Michigan First Credit Union is headquartered in Lathrup Village and is the 15th largest credit union in the state of Michigan. It is also the 330th largest credit union in the nation. It was established in 1926 and as of June of 2019, it had grown to 451 employees and 155,590 members at 23 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.
See current membership details
Health
A+
Data as of Q2 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 60522 |
| Year Chartered | 1926 |
| Employees | 451 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.61% |
| Return on Equity - YTD | 4.49% |
| Annual Interest Income | $22.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2019vs Q2 2018 | $974.9MM$919.8MM |
| Loans | Q2 2019vs Q2 2018 | $661.8MM$635.0MM |
| Deposits | Q2 2019vs Q2 2018 | $733.8MM$689.0MM |
| Equity Capital | Q2 2019vs Q2 2018 | $132.8MM$121.3MM |
| Loan Loss Allowance | Q2 2019vs Q2 2018 | $11.6MM$10.8MM |
| Unbacked Noncurrent Loans | Q2 2019vs Q2 2018 | $7.4MM$8.9MM |
| Real Estate Owned | Q2 2019vs Q2 2018 | $678.00K$670.00K |
Rates
Rates for Michigan First Credit Union are currently being reviewed.
