Overview / Commentary
14623 State Highway M28 E
Bruce Crossing, MI 49912-9296

Settlers Federal Credit Union is headquartered in Bruce Crossing and is the 175th largest credit union in the state of Michigan. It is also the 3,091st largest credit union in the nation. It was established in 1932 and as of September of 2018, it had grown to 8 employees and 3,539 members at 2 locations. Settlers Federal Credit Union's CD rates are 29% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Membership is open to those who live, work, attend school, or worship in Gogebic or Ontonagon Counties.
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Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Settlers Federal Credit Union has a low asset base.

Health Grade Components

NCUA #24793
Year Chartered1932
Primary Regulator
Profit Margin
Return on Assets - YTD2.46%
Return on Equity - YTD21.17%
Annual Interest Income$1.1MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$25.5MM$26.1MM
LoansQ3 2018vs Q3 2017$16.3MM$16.0MM
DepositsQ3 2018vs Q3 2017$22.2MM$23.3MM
Equity CapitalQ3 2018vs Q3 2017$3.0MM$2.6MM
Loan Loss AllowanceQ3 2018vs Q3 2017$276.00K$190.00K
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$407.00K$423.00K
Real Estate OwnedQ3 2018vs Q3 2017$0$0
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Settlers Federal Credit Union Savings Account Rates

0.75%--Traditional IRA Savings
0.75%--Roth IRA Savings
0.50%--Share Accounts
0.50%--Christmas Clubs

Settlers Federal Credit Union Money Market Rates

0.35%--Money Market Shares

Settlers Federal Credit Union Checking Account Rates

0.10%--Share Draft Accounts

Settlers Federal Credit Union CD Rates

1.66%--36 Month Share Certificates
1.51%--24 Month Share Certificates
1.26%--18 Month Share Certificates
1.16%--12 Month Share Certificate
0.80%--6 Month Share Certificate

Settlers Federal Credit Union Locations
Branch Office5384 US Highway 45 NWatersmeet, MI 49969
Branch Office14623 State Highway M28 EBruce Crossing, MI 49912-9296

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