Michigan Schools And Government Credit Union
Popular Accounts at this Credit Union
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 2.90% | 5-year CD | |
| 1.00% | 1-year CD | 1.30% - National Average |
| 0.15% | Savings |
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 132nd largest credit union in the nation. It was established in 1954 and as of September of 2018, it had grown to 297 employees and 125,656 members at 14 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 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.
See current membership details
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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.
BEWARE!!! GO TO S DIFFERENT FINANCIAL INSTITUTION
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!
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 62049 |
| Year Chartered | 1954 |
| Employees | 297 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.59% |
| Return on Equity - YTD | 12.43% |
| Annual Interest Income | $57.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2018vs Q3 2017 | $1.96B$1.82B |
| Loans | Q3 2018vs Q3 2017 | $1.62B$1.44B |
| Deposits | Q3 2018vs Q3 2017 | $1.66B$1.57B |
| Equity Capital | Q3 2018vs Q3 2017 | $250.7MM$221.7MM |
| Loan Loss Allowance | Q3 2018vs Q3 2017 | $15.4MM$14.4MM |
| Unbacked Noncurrent Loans | Q3 2018vs Q3 2017 | $5.0MM$5.1MM |
| Real Estate Owned | Q3 2018vs Q3 2017 | $702.00K$411.00K |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.00%* | $200k* | - | Gold Savings Account | ||
| OTHER TIERS: 0.10% → Up to $50k | 0.70% → $50k - $75k | 0.80% → $75k - $100k | 0.90% → $100k - $200k | |||||
| 0.70%* | $40k* | - | Silver Savings Account | ||
| OTHER TIERS: 0.10% → Up to $100 | 0.30% → $100 - $10k | 0.40% → $10k - $20k | 0.50% → $20k - $40k | |||||
| 0.60% | - | - | Health Savings Account | ||
| 0.50% | - | - | Holiday Club | ||
| 0.50% | - | - | IRA Account | ||
| 0.15% | $5 | - | Regular Share | ||
| 0.15% | - | - | You-Name-It Share Account | ||
| 0.15% | $100 | - | Business Savings Account | ||
Michigan Schools And Government Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.45%* | $25k* | - | Money Market Checking | ||
| OTHER TIERS: 0.25% → $2.5k - $10k | 0.35% → $10k - $25k | |||||
Michigan Schools And Government Credit Union Checking Account Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.25%* | $250k* | - | Business Checking | ||
| OTHER TIERS: 0.10% → Up to $100k | 0.15% → $100k - $250k | |||||
Michigan Schools And Government Credit Union CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.10% | $500 | - | 23 Month CD | |
| 2.90% | $500 | - | 5 Year CD | |
| 2.75% | $500 | - | 1 Year CD | |
| 2.55% | $500 | - | 4 Year CD | |
| 2.30% | $500 | - | 3 Year CD | |
| 1.90% | $500 | - | 2 Year CD | |
| 1.50% | $250 | - | 2 Year Grow with Me CD | |
| 1.00% | $250 | - | 1 Year Grow with Me CD | |
| 0.80% | $500 | - | 6 Month CD | |
| 0.70% | $250 | - | 6 Month Grow with Me CD |
Michigan Schools And Government Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.10% | $500 | - | 23 Month IRA | |
| 2.90% | $500 | - | 5 Year IRA CD | |
| 2.75% | $500 | - | 1 Year IRA CD | |
| 2.55% | $500 | - | 4 Year IRA CD | |
| 2.30% | $500 | - | 3 Year IRA CD | |
| 1.90% | $500 | - | 2 Year IRA CD | |
| 0.80% | $500 | - | 6 Month IRA CD |
