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Overview / Commentary
906-296-0215
400 Hecla St
Laurium, MI 49913

Torch Lake Federal Credit Union is headquartered in Laurium and is the 213th largest credit union in the state of Michigan. It is also the 4,322nd largest credit union in the nation. It was established in 1955 and as of March of 2018, it had grown to 3 employees and 1,844 members at 3 locations. Torch Lake Federal Credit Union has a B 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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Health
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

Overall
NCUA #10099
Year Chartered1955
Employees3
Primary Regulator
Profit Margin
Return on Assets - YTD0.9%
Return on Equity - YTD9.74%
Annual Interest Income$71.00K
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$8.2MM$7.8MM
LoansQ1 2018vs Q1 2017$4.3MM$4.4MM
DepositsQ1 2018vs Q1 2017$7.4MM$7.1MM
Equity CapitalQ1 2018vs Q1 2017$739.00K$699.00K
Loan Loss AllowanceQ1 2018vs Q1 2017$22.00K$28.00K
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$22.00K$33.00K
Real Estate OwnedQ1 2018vs Q1 2017$0$0
Rates
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Torch Lake Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$25-Share Savings Account
Locations


Torch Lake Federal Credit Union Locations
Branch Office400 Hecla StLaurium, MI 49913
Branch Office2091 Springdale RdCherry Hill, NJ 08003
Branch Office680 E Swedesford RdWayne, PA 19087-1605

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