Service 1 Federal Credit Union
Service 1 Federal Credit Union is headquartered in Norton Shores and is the 78th largest credit union in the state of Michigan. It is also the 1,271st largest credit union in the nation. It was established in 1940 and as of June of 2023, it had grown to 50 employees and 21,791 members at 6 locations. Service 1 Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership in Service 1 Federal Credit Union is open to select employee groups (SEGs) in our field of membership (FOM) in all states and branches except our Shell Knob, MO branch, whose FOM is anyone who lives, works, worships, or attends school in Barry County or Stone County, MO.
See current membership details
Love My Credit Union!
We've been with Service 1 FCU for over 40 years. They're friendly and down-home atmosphere makes you feel welcome, while they're more than competitive lending rates make it our first choice for getting a loan. We've never had any problem with them and it's especially nice not having outlandish fees like the banks want to impose if we have insufficient funds. After having Service 1, I'll never go back to a bank for my financial needs.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4038 |
| Year Chartered | 1940 |
| Employees | 50 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.03% |
| Return on Equity - YTD | 7.08% |
| Annual Interest Income | $3.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $197.6MM$192.9MM |
| Loans | Q2 2023vs Q2 2022 | $138.3MM$124.8MM |
| Deposits | Q2 2023vs Q2 2022 | $168.0MM$165.4MM |
| Equity Capital | Q2 2023vs Q2 2022 | $28.7MM$27.1MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$399.00K |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $548.00K$226.00K |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |