Overview / Commentary
South Central Credit Union is headquartered in Jackson and is the 122nd largest credit union in the state of Michigan. It is also the 1,984th largest credit union in the nation. It was established in 1954 and as of September of 2024, it had grown to 18 employees and 7,148 members at 2 locations. South Central Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership is open to anyone who donates $5 to the American Cancer Society. Membership is also open to those who live, work, worship, or attend school in the Michigan counties of Branch, Calhoun, Eaton, Hillsdale, Ingham, Jackson, Lenawee, Livingston, or Washtenaw.
See current membership details
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Health
B+
Data as of Q3 2024
Learn why bank health mattersAdditional 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. South Central Credit Union has a relatively low asset base.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 62143 |
| Year Chartered | 1954 |
| Employees | 18 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.9% |
| Return on Equity - YTD | 6.4% |
| Annual Interest Income | $2.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $83.1MM$87.5MM |
| Loans | Q3 2024vs Q3 2023 | $39.8MM$42.4MM |
| Deposits | Q3 2024vs Q3 2023 | $71.1MM$76.2MM |
| Equity Capital | Q3 2024vs Q3 2023 | $11.7MM$11.1MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $772K$900K |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $137K$368K |
| Real Estate Owned | Q3 2024vs Q3 2023 | $16K$0 |