Service 1 Federal Credit Union
Service 1 Federal Credit Union is headquartered in Norton Shores and is the 80th largest credit union in the state of Michigan. It is also the 1,278th largest credit union in the nation. It was established in 1940 and as of September of 2022, it had grown to 47 employees and 21,812 members at 6 locations. Service 1 Federal Credit Union has an A+ health rating.
Field of Membership Restrictions
Must be an employee of one of the several select companies from the Muskegon, Mobile and Neosho area.
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 Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 4038 |
| Year Chartered | 1940 |
| Employees | 47 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.07% |
| Return on Equity - YTD | 7.5% |
| Annual Interest Income | $4.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $193.0MM$187.2MM |
| Loans | Q3 2022vs Q3 2021 | $132.1MM$120.4MM |
| Deposits | Q3 2022vs Q3 2021 | $164.5MM$160.7MM |
| Equity Capital | Q3 2022vs Q3 2021 | $27.5MM$25.9MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $431.00K$591.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $231.00K$123.00K |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |