Parda Federal Credit Union is headquartered in Auburn Hills and is the 73rd largest credit union in the state of Michigan. It is also the 1,187th largest credit union in the nation. It was established in 1974 and as of June of 2023, it had grown to 55 employees and 15,075 members at 9 locations. Parda Federal Credit Union's CD rates are 84% higher than the national average, and it has a B+ health rating.
Parda Federal Credit Union offers membership to employees or retirees of Select Employee Groups. Additionally, membership will be extended to any consumer who joins the non-profit consumer education program: American Consumer Council (ACC).
See current membership details
My local bank is Parda Federal Credit Union. It was originally a 2 branch credit union but was absorbed into a slightly larger credit union. I have a savings account there and I am happy with it. The rates I receive are higher than other nationwide banks, but not as high as online only banks. Having two branches on my city that I can walk into is great to me, so I'm willing to sacrifice a small amount of APR in order to have that convenience. The people within the bank, either at my local branches or someone on the phone, have been friendly and helpful. I think that the smaller size of the organization allows them to help customers such as myself in ways that big banks cannot match. Also, since it is a credit union, they are non profit, so profits are put back into the organization in the way of better rates.
| Overall | |
|---|---|
| NCUA # | 21686 |
| Year Chartered | 1974 |
| Employees | 55 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.64% |
| Return on Equity - YTD | 6.91% |
| Annual Interest Income | $4.1MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $222.5MM$239.7MM |
| Loans | Q2 2023vs Q2 2022 | $108.8MM$95.6MM |
| Deposits | Q2 2023vs Q2 2022 | $200.6MM$217.9MM |
| Equity Capital | Q2 2023vs Q2 2022 | $21.3MM$21.3MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$886.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $309.00K$438.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
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* 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 | |
|---|---|---|---|---|---|
| 0.40%* | $100k* | - | Business Money Marketing | ||
| OTHER TIERS: 0.20% → $2.5k - $10k | 0.25% → $10k - $20k | 0.30% → $20k - $50k | 0.35% → $50k - $100k | |||||
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.52% | $500 | - | 18 Month IRA | |
| 2.02% | $500 | - | 5 Year IRA | |
| 1.86% | $500 | - | 4 Year IRA | |
| 1.81% | $500 | - | 3 Year IRA | |
| 1.76% | $500 | - | 2 Year IRA | |
| 1.61% | $500 | - | 1 Year IRA | |
| 1.40% | $500 | - | 6 Month IRA |
| Parda Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 3650 Carpenter Rd Ste A | Ypsilanti, MI 48197-8591 |
| Branch Office | 1835 Bypass 72 NE | Greenwood, SC 29649 |
| Branch Office | 259 E 24th St | Holland, MI 49423-4856 |
| Branch Office | 12345 Felch St | Holland, MI 49424-9672 |
| Branch Office | 400 W Lincoln Ave | Lititz, PA 17543-8701 |
| Branch Office | 2601 Cambridge Ct Ste 210 | Auburn Hills, MI 48326-2580 |
| Branch Office | 18321 E 8 Mile Rd | Eastpointe, MI 48021-3231 |
| Branch Office | 5500 Forest Hills Rd | Loves Park, IL 61111-5213 |
| Branch Office | 2170 Packard Rd | Ypsilanti, MI 48197-1832 |