Preferred Credit Union (MI)

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	ACCOUNT NAME
1.46%	5-year CD	60 Month CD 2.25% - Ally Bank High Yield 5 Year CD
0.50%	1-year CD	12 Month CD 1.50% - Ally Bank No Penalty 11-Month CD
0.15%	Savings	Share Savings 1.20% - Ally Bank Online Savings Account

View all Preferred Credit Union (MI) rates »

Overview / Commentary

www.preferredcu.org

616-942-9630

3767 Sparks Dr SE
Grand Rapids, MI 49546

Preferred Credit Union (MI) is headquartered in Grand Rapids and is the 66^th largest credit union in the state of Michigan. It is also the 1,148^th largest credit union in the nation. It was established in 1968 and as of June of 2017, it had grown to 70 employees and 24,521 members at 6 locations. Preferred Credit Union (MI) has an A health rating.

Field of Membership Restrictions

Membership is open to anyone through becoming a member of the Co-Optical Service ($2 sign-up fee). Membership is open to those who live, work, attend school or worship in Barry, Allegan, Branch, Berrien, Cass, Calhoun, Clinton, Clare, Gratiot, Eaton, Ionia, Kalamazoo, Isabella, Lake, Kent, Manistee, Mecosta, Mason, Missaukee, Muskegon, Montcalm, Newaygo, Oceana, Osceola, Ottawa, St. Joseph, Van Buren and Wexford Counties in Michigan.
See current membership details

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Health

A

Data as of Q2 2017

Learn why bank health matters

Health Grade Components

Overall
NCUA #	62340
Year Chartered	1968
Employees	70
Primary Regulator

Profit Margin
Return on Assets - YTD	0.47%
Return on Equity - YTD	3.45%
Annual Interest Income	$3.2MM

Assets and Liabilities
Assets	Q2 2017vs Q2 2016	$170.4MM$162.2MM
Loans	Q2 2017vs Q2 2016	$101.4MM$94.1MM
Deposits	Q2 2017vs Q2 2016	$143.8MM$137.1MM
Equity Capital	Q2 2017vs Q2 2016	$23.1MM$22.3MM
Loan Loss Allowance	Q2 2017vs Q2 2016	$847.00K$573.00K
Unbacked Noncurrent Loans	Q2 2017vs Q2 2016	$1.0MM$502.00K
Real Estate Owned	Q2 2017vs Q2 2016	$0$0

Rates

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

Preferred Credit Union (MI) Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%	$100	-	Christmas Club
0.35%	$100	-	IRA Savings
0.25%	$100	-	Vacation Club
0.25%	-	-	HSA
0.15%	$100	-	Share Savings

Preferred Credit Union (MI) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
0.35%^*	$50k^*	-	Preferred Money Account
OTHER TIERS: 0.15% → $500 - $2,500 \| 0.20% → $2,500 - $10k \| 0.25% → $10k - $25k \| 0.30% → $25k - $50k

Preferred Credit Union (MI) CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.46%^*	$10k^*	-	60 Month CD
OTHER TIERS: 1.31% → $500 - $10k
1.11%^*	$10k^*	-	48 Month CD
OTHER TIERS: 0.95% → $500 - $10k
0.90%^*	$10k^*	-	36 Month CD
OTHER TIERS: 0.75% → $500 - $10k
0.65%^*	$10k^*	-	30 Month CD
OTHER TIERS: 0.50% → $500 - $10k
0.60%^*	$10k^*	-	24 Month CD
OTHER TIERS: 0.45% → $500 - $10k
0.50%^*	$10k^*	-	12 Month CD
OTHER TIERS: 0.35% → $500 - $10k
0.45%^*	$10k^*	-	9 Month CD
OTHER TIERS: 0.30% → $500 - $10k
0.35%^*	$10k^*	-	6 Month CD
OTHER TIERS: 0.20% → $500 - $10k

Preferred Credit Union (MI) IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.66%^*	$10k^*	-	60 Month IRA
OTHER TIERS: 1.51% → $500 - $10k
1.31%^*	$10k^*	-	48 Month IRA
OTHER TIERS: 1.16% → $500 - $10k
1.11%^*	$10k^*	-	36 Month IRA
OTHER TIERS: 0.95% → $500 - $10k
0.85%^*	$10k^*	-	30 Month IRA
OTHER TIERS: 0.70% → $500 - $10k
0.80%^*	$10k^*	-	24 Month IRA
OTHER TIERS: 0.65% → $500 - $10k
0.70%^*	$10k^*	-	12 Month IRA
OTHER TIERS: 0.55% → $500 - $10k
0.65%^*	$10k^*	-	9 Month IRA
OTHER TIERS: 0.50% → $500 - $10k
0.55%^*	$10k^*	-	6 Month IRA
OTHER TIERS: 0.40% → $500 - $10k

Locations

Preferred Credit Union (MI) Locations
Branch Office	7473 Storey Rd	Belding, MI 48809-9360
Branch Office	534 N Lafayette St	Greenville, MI 48838-1167
Branch Office	329 N Michigan Ave	Hastings, MI 49058
Branch Office	4245 S Westnedge Ave	Kalamazoo, MI 49008-3207
Branch Office	266 N Jebavy Dr	Ludington, MI 49431
Branch Office	3767 Sparks Dr SE	Grand Rapids, MI 49546