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Michigan Schools And Government Credit Union


Overview / Commentary
www.msgcu.org
866-674-2848
40400 Garfield Rd
Clinton Township, MI 48038

Michigan Schools And Government Credit Union is headquartered in Clinton Township and is the 6th largest credit union in the state of Michigan. It is also the 124th largest credit union in the nation. It was established in 1954 and as of June of 2022, it had grown to 370 employees and 138,957 members at 17 locations. Michigan Schools And Government Credit Union's CD rates are 3X the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership in Michigan Schools and Government Credit Union is open anyone who lives, works, worships, or attends school in any Michigan county.
See current membership details

Related Posts

Michigan Schools and Govt Credit Union 5-Year CD Offers Leading Rate - 11/29/2022

Michigan Schools and Government Credit Union has up the rate on its 5-year CD that offers a one-time rate bump option. $500 min opening deposit. Available statewide.

Michigan Schools and Government Credit Union Ups Special CD Rates - 4/1/2022

Michigan Schools and Government Credit Union has boosted the rates on its statewide available 9-month and 23-Month CD Specials. $500 minimum opening deposit.

Michigan Schools and Government Credit Union Adds 23-Month CD Special - 2/3/2022

Michigan Schools and Government Credit Union has added a competitive 23-Month CD Special to its statewide product line. $500 minimum opening deposit.

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Reviews (2)

Michigan Credit Union

Posted by: |

It was a great place to bank. The offered nice bonuses for referring someone to them, and also when someone switched there insurance to them, the referee got a bigger bonus. Their overdraft fees were also a lot less than regular banks I've held accounts. There customer service was hit or miss though. Sometimes you'd get someone who was very kind and helpful or occasionally someone extremely rude. Overall it's my favorite bank I've held an account.

5

BEWARE!!! GO TO S DIFFERENT FINANCIAL INSTITUTION

Posted by: |

BEWARE!!! GO TO A DIFFERENT FINANCIAL INSTITUTION!
I would give this credit union negative stars if I could! My husband and I both transferred our Navy Federal Accounts here when we relocated to Michigan. Both of us being Veterans (husband retired military), we thought Michigan Schools and Government was going to be a good fit for us..... Oh were we wrong!! In a five year period, we have had a minimum of 12 issues ranging from bank cards not working when plenty of funds are available to app being down for hours. If this happens on a weekend or after hours you are S.O.L. because they do not have ANYONE that you can talk to outside of regular business hours.
We will be leaving and moving to a full time financial institution, not a part time one like MSGCU!

10


Health
A+

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
NCUA #62049
Year Chartered1954
Employees370
Primary Regulator
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD5.64%
Annual Interest Income$49.5MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$3.22B$2.97B
LoansQ2 2022vs Q2 2021$2.59B$2.25B
DepositsQ2 2022vs Q2 2021$2.77B$2.56B
Equity CapitalQ2 2022vs Q2 2021$374.2MM$338.7MM
Loan Loss AllowanceQ2 2022vs Q2 2021$18.6MM$19.5MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$5.6MM$3.9MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Michigan Schools And Government Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Michigan Schools And Government Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%*$200k*-Gold Savings Account
OTHER TIERS: 0.10% → Up to $50k | 0.75% → $50k - $75k | 0.85% → $75k - $100k | 1.00% → $100k - $200k
0.70%*$40k*-Silver Savings Account
OTHER TIERS: 0.10% → Up to $100 | 0.30% → $100 - $5k | 0.40% → $5k - $10k | 0.50% → $10k - $20k | 0.60% → $20k - $40k
0.30%--Health Savings Account
0.30%--Holiday Club
0.30%--IRA Account
0.15%$100-Business Savings Account
0.10%$5-Regular Share
0.10%--You-Name-It Share Account

Michigan Schools And Government Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$25k*-Money Market Checking
OTHER TIERS: 0.20% → $2.5k - $25k

Michigan Schools And Government Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$250k*-Business Checking
OTHER TIERS: 0.10% → Up to $25k | 0.15% → $25k - $250k

Michigan Schools And Government Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%$500-5 Year CD
4.50%$500-23 Month CD Special
4.15%$500-4 Year CD
4.00%$500-3 Year CD
2.75%$500-9 Month CD Special
2.50%$500-2 Year CD
2.25%$500-12 Month CD
2.00%$500-6 Month CD
1.80%$250-2 Year Grow with Me CD
1.20%$250-1 Year Grow with Me CD
1.00%$250-6 Month Grow with Me CD

Michigan Schools And Government Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.75%$500-5 Year IRA CD
4.50%$500-23 Month IRA Special
4.15%$500-4 Year IRA CD
4.00%$500-3 Year IRA CD
2.75%$500-9 Month IRA Special
2.50%$500-2 Year IRA CD
2.25%$500-12 Month IRA CD
2.00%$500-6 Month IRA CD
Locations

Availability

Detroit Area

Interactive local rates map


The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.