Michigan Schools And Government Credit Union

Overview / Commentary
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 123rd largest credit union in the nation. It was established in 1954 and as of September of 2021, it had grown to 363 employees and 135,970 members at 17 locations. Michigan Schools And Government Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership in Michigan Schools and Government Credit Union is open to the following: (1) those who live, work, worship or attend school in Michigan’s lower peninsula; (2) employees, students, alumni, retirees, and former students of any educational institution in Genesee, Lapeer, Livingston, Macomb, Oakland, St. Clair, Washtenaw and Wayne Counties in Michigan and their families; (3) any person over age 55 receiving retirement payments and live in or belong to a retirement organization in the counties above; (4) employees or retirees of any federal, state, county, or local government department or agency in the above counties.
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Reviews (3)

Among The Very Best Credit Unions In The Detroit Market

I've belonged to Michigan School & Government Credit Union since the 1960's and intend to remain a loyal customer. They really understand "customer service," going well beyond my rather critical standards by ALWAYS doing what's right, honest, and helpful to their members. Their interest rates on CD's rarely lead the pack, but they're always competitive.

Michigan Credit Union

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.


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!


Health Grade Components

NCUA #62049
Year Chartered1954
Primary Regulator
Profit Margin
Return on Assets - YTD1.48%
Return on Equity - YTD12.63%
Annual Interest Income$72.0MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$3.00B$2.69B
LoansQ3 2021vs Q3 2020$2.31B$2.04B
DepositsQ3 2021vs Q3 2020$2.58B$2.32B
Equity CapitalQ3 2021vs Q3 2020$349.2MM$304.4MM
Loan Loss AllowanceQ3 2021vs Q3 2020$19.4MM$15.2MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$3.7MM$4.0MM
Real Estate OwnedQ3 2021vs Q3 2020$0$0
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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

0.35%*$200k*-Gold Savings Account
OTHER TIERS: 0.10% Up to $50k | 0.20% $50k - $75k | 0.25% $75k - $100k | 0.30% $100k - $200k
0.20%--Health Savings Account
0.20%--Holiday Club
0.20%--IRA Account
0.15%*$10k*-Silver Savings Account
OTHER TIERS: 0.10% Up to $10k
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

0.15%*$25k*-Money Market Checking
OTHER TIERS: 0.10% $2.5k - $25k

Michigan Schools And Government Credit Union Checking Account Rates

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

Michigan Schools And Government Credit Union CD Rates

1.35%$500-5 Year CD
1.15%$500-4 Year CD
1.10%--23 Month CD Special
0.95%$500-3 Year CD
0.80%$500-2 Year CD
0.50%$500-12 Month CD
0.50%$250-2 Year Grow with Me CD
0.50%$500-9 Month CD Special
0.40%$500-6 Month CD
0.30%$250-6 Month Grow with Me CD
0.30%$250-1 Year Grow with Me CD

Michigan Schools And Government Credit Union IRA Rates

1.35%$500-5 Year IRA CD
1.15%$500-4 Year IRA CD
1.10%$500-23 Month IRA Special
0.95%$500-3 Year IRA CD
0.80%$500-2 Year IRA CD
0.50%$500-12 Month IRA CD
0.50%$500-9 Month IRA Special
0.40%$500-6 Month IRA CD


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