Michigan First Credit Union

Overview / Commentary

800-664-3828

27000 Evergreen Rd
Lathrup Village, MI 48076

Michigan First Credit Union is headquartered in Lathrup Village and is the 13^th largest credit union in the state of Michigan. It is also the 291^st largest credit union in the nation. It was established in 1926 and as of December of 2021, it had grown to 462 employees and 185,935 members at 27 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 Q4 2021

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Health Grade Components

Overall
NCUA #	60522
Year Chartered	1926
Employees	462
Primary Regulator

Profit Margin
Return on Assets - YTD	1.53%
Return on Equity - YTD	13.23%
Annual Interest Income	$47.0MM

Assets and Liabilities
Assets	Q4 2021vs Q4 2020	$1.48B$1.32B
Loans	Q4 2021vs Q4 2020	$915.6MM$842.4MM
Deposits	Q4 2021vs Q4 2020	$1.24B$1.09B
Equity Capital	Q4 2021vs Q4 2020	$169.9MM$152.6MM
Loan Loss Allowance	Q4 2021vs Q4 2020	$8.8MM$11.1MM
Unbacked Noncurrent Loans	Q4 2021vs Q4 2020	$5.3MM$4.7MM
Real Estate Owned	Q4 2021vs Q4 2020	$250.00K$130.00K

Rates

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Savings
Money Market
Checking
CD
IRA

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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

APY	MIN	MAX	ACCOUNT NAME
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

APY	MIN	MAX	ACCOUNT NAME
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

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.10%	$10k	-	Premier Checking Account
0.10%	$10k	-	First Gear Checking Account

Michigan First Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
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

APY	MIN	MAX	ACCOUNT NAME
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

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Detroit Area

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