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 125th largest credit union in the nation. It was established in 1954 and as of March of 2022, it had grown to 366 employees and 137,204 members at 17 locations. Michigan Schools And Government Credit Union has an A+ health rating.
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
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 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!
Overall | |
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NCUA # | 62049 |
Year Chartered | 1954 |
Employees | 366 |
Primary Regulator |
Profit Margin | |
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Return on Assets - YTD | 0.97% |
Return on Equity - YTD | 8.12% |
Annual Interest Income | $24.2MM |
Assets and Liabilities | ||
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Assets | Q1 2022vs Q1 2021 | $3.15B$2.91B |
Loans | Q1 2022vs Q1 2021 | $2.46B$2.16B |
Deposits | Q1 2022vs Q1 2021 | $2.71B$2.51B |
Equity Capital | Q1 2022vs Q1 2021 | $371.2MM$326.1MM |
Loan Loss Allowance | Q1 2022vs Q1 2021 | $19.0MM$18.5MM |
Unbacked Noncurrent Loans | Q1 2022vs Q1 2021 | $4.9MM$3.0MM |
Real Estate Owned | Q1 2022vs Q1 2021 | $0$0 |
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.
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.15%* | $25k* | - | Money Market Checking | ||
OTHER TIERS: 0.10% → $2.5k - $25k |
APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
---|---|---|---|---|---|
0.25%* | $250k* | - | Business Checking | ||
OTHER TIERS: 0.10% → Up to $25k | 0.15% → $25k - $250k |