Saginaw Medical Federal Credit Union


Overview / Commentary
989-791-7070
4550 STATE ST
SAGINAW, MI 48603

Saginaw Medical Federal Credit Union is headquartered in SAGINAW and is the 80th largest credit union in the state of Michigan. It is also the 1,337th largest credit union in the nation. It was established in 1970 and as of June of 2019, it had grown to 33 employees and 11,979 members at 2 locations. Saginaw Medical Federal Credit Union's money market rates are 2X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in SMFCU (formerly Saginaw Medical Federal Credit Union) is open to employees, independent contractors, or self-employed persons who regularly work in the Health Care Industry anywhere in the State of Michigan.
See current membership details

Related Posts

Saginaw Medical Federal Credit Union Offers 60-Month CD, 3.26% APY - 6/21/2019

Saginaw Medical Federal Credit Union (MI) is currently offering a 60-month Share Certificate, earning 3.26% APY. Minimum deposit is $500. Also available as an IRA.

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Reviews (1)

Great Rates And Customer Service, But Hard Credit Pull, Even On Savings Products

Posted by: kcfield | Jul 25, 2019

I contacted this highly rated institution to ask whether they did a hard or soft credit pull when a customer is only opening a CD or savings account; and also to ask about our eligibility for membership. I received a prompt and professional reply, letting me know that I was eligible for membership based on my wife's medical lab work, and the associate invited me to contact her if I had any further questions. While this credit union has very high CD rates, low EWP, and apparently excellent customer service--they unfortunately do a hard credit pull (the associate stated so in her email) even for savings products. As a result, my wife and I decided not to join at this time.



Health

Health Grade Components

Overall
NCUA #20007
Year Chartered1970
Employees33
Primary Regulator
Profit Margin
Return on Assets - YTD0.7%
Return on Equity - YTD5.86%
Annual Interest Income$2.4MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$139.6MM$137.0MM
LoansQ2 2019vs Q2 2018$95.5MM$83.1MM
DepositsQ2 2019vs Q2 2018$121.5MM$120.5MM
Equity CapitalQ2 2019vs Q2 2018$16.5MM$15.1MM
Loan Loss AllowanceQ2 2019vs Q2 2018$360.00K$329.00K
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$157.00K$216.00K
Real Estate OwnedQ2 2019vs Q2 2018$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Saginaw Medical Federal 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.

Saginaw Medical Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$15kYoung Savers
OTHER TIERS: 0.15% $15k+
1.26%*$50k*-IRA Savings
OTHER TIERS: 0.50% Up to $10k | 0.75% $10k - $20k | 1.00% $20k - $50k
0.30%*$100k*-Business Savings
OTHER TIERS: 0.15% $250 - $10k | 0.20% $10k - $100k
0.10%$250-Regular Savings
0.10%$250-Christmas Club
0.10%$250-Vacation Club
0.10%$250-2nd Savings

Saginaw Medical Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$250k*-MONEYPlus Money Market Account
OTHER TIERS: 0.25% $2.5k - $10k | 0.45% $10k - $100k | 0.70% $100k - $250k

Saginaw Medical Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.25%*$2.5k*$25kPremium Checking Rewards
OTHER TIERS: 0.20% $25k+
0.20%$10k-Premium Checking
0.20%$10k-Business Checking

Saginaw Medical Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.00%$500$7007 Month Youth Certificate
3.01%$500-60 Month CD
2.74%$500-48 Month CD
2.58%$500-36 Month CD
2.55%$500-28 Month CD Special - New Money
2.30%$500-24 Month CD
1.92%$500-12 Month CD
1.67%$25-12 Month Save to Win CD
1.31%$500-6 Month CD

Saginaw Medical Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.01%$500-60 Month IRA
2.74%$500-48 Month IRA
2.58%$500-36 Month IRA
2.30%$500-24 Month IRA
1.92%$500-12 Month IRA
1.31%$500-6 Month IRA
Locations


Saginaw Medical Federal Credit Union Locations
Branch Office1430 N Michigan AveSaginaw, MI 48602-4734
Branch Office4550 State StSaginaw, MI 48603

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