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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 221st largest credit union in the state of Michigan. It is also the 4,453rd largest credit union in the nation. It was established in 1955 and as of June of 2017, it had grown to 3 employees and 2,007 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 - YTD0.38%
Return on Equity - YTD4.23%
Annual Interest Income$133.00K
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$7.8MM$7.1MM
LoansQ2 2017vs Q2 2016$4.5MM$4.3MM
DepositsQ2 2017vs Q2 2016$7.0MM$6.4MM
Equity CapitalQ2 2017vs Q2 2016$709.00K$682.00K
Loan Loss AllowanceQ2 2017vs Q2 2016$27.00K$27.00K
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$13.00K$11.00K
Real Estate OwnedQ2 2017vs Q2 2016$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
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