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 1,340th largest credit union in the nation. It was established in 1970 and as of September of 2019, it had grown to 34 employees and 11,996 members at 2 locations. Saginaw Medical Federal Credit Union's money market rates are 2X the national average, and it boasts 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
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Great Rates And Customer Service, But Hard Credit Pull, Even On Savings Products
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.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 20007 |
| Year Chartered | 1970 |
| Employees | 34 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.77% |
| Return on Equity - YTD | 6.3% |
| Annual Interest Income | $3.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $138.4MM$132.6MM |
| Loans | Q3 2019vs Q3 2018 | $95.9MM$87.0MM |
| Deposits | Q3 2019vs Q3 2018 | $120.7MM$115.8MM |
| Equity Capital | Q3 2019vs Q3 2018 | $16.9MM$15.4MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $365.00K$344.00K |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $269.00K$261.00K |
| Real Estate Owned | Q3 2019vs Q3 2018 | $0$0 |
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
Saginaw Medical Federal Credit Union Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 1.25%* | $2.5k* | $25k | Premium Checking Rewards | ||
| OTHER TIERS: 0.20% → $25k+ | |||||
| 0.20% | $10k | - | Premium Checking | ||
| 0.20% | $10k | - | Business Checking | ||
Saginaw Medical Federal Credit Union CD Rates
Saginaw Medical Federal Credit Union IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 2.57% | $500 | - | 60 Month IRA | |
| 2.51% | $500 | - | 48 Month IRA | |
| 2.35% | $500 | - | 36 Month IRA | |
| 2.10% | $500 | - | 24 Month IRA | |
| 1.75% | $500 | - | 12 Month IRA | |
| 1.31% | $500 | - | 6 Month IRA |
| Saginaw Medical Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 1430 N Michigan Ave | Saginaw, MI 48602-4734 |
| Branch Office | 4550 State St | Saginaw, MI 48603 |