Overview / Commentary
400 Hecla St
Laurium, MI 49913

Torch Lake Federal Credit Union is headquartered in Laurium and is the 208th largest credit union in the state of Michigan. It is also the 4,249th largest credit union in the nation. It was established in 1955 and as of December of 2018, it had grown to 4 employees and 1,853 members at 3 locations. Torch Lake Federal Credit Union has a C+ health rating.

Field of Membership Restrictions

Torch Lake Federal Credit Union is open to those who live, own property or work in the area from Dollar Bay to Copper Harbor in Michigan.
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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. Torch Lake Federal Credit Union has a very low asset base.

Health Grade Components

NCUA #10099
Year Chartered1955
Primary Regulator
Profit Margin
Return on Assets - YTD0.36%
Return on Equity - YTD3.87%
Annual Interest Income$302.00K
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$8.1MM$7.8MM
LoansQ4 2018vs Q4 2017$4.8MM$4.5MM
DepositsQ4 2018vs Q4 2017$7.3MM$7.0MM
Equity CapitalQ4 2018vs Q4 2017$750.00K$720.00K
Loan Loss AllowanceQ4 2018vs Q4 2017$30.00K$22.00K
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$43.00K$33.00K
Real Estate OwnedQ4 2018vs Q4 2017$0$0
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Torch Lake Federal Credit Union Savings Account Rates

0.05%$25-Share Savings Account

Torch Lake Federal Credit Union Locations
Branch Office400 Hecla StLaurium, MI 49913
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