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 1,275th largest credit union in the nation. It was established in 1940 and as of June of 2020, it had grown to 38 employees and 21,773 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.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 4038 |
| Year Chartered | 1940 |
| Employees | 38 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.52% |
| Return on Equity - YTD | 3.51% |
| Annual Interest Income | $3.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2020vs Q2 2019 | $168.5MM$126.9MM |
| Loans | Q2 2020vs Q2 2019 | $111.1MM$96.4MM |
| Deposits | Q2 2020vs Q2 2019 | $143.4MM$103.8MM |
| Equity Capital | Q2 2020vs Q2 2019 | $24.1MM$22.0MM |
| Loan Loss Allowance | Q2 2020vs Q2 2019 | $589.00K$279.00K |
| Unbacked Noncurrent Loans | Q2 2020vs Q2 2019 | $359.00K$462.00K |
| Real Estate Owned | Q2 2020vs Q2 2019 | $0$0 |