Featured Savings Rates
Featured Accounts

Torch Lake Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEACCOUNT NAME
0.30%1-year CD12 Month Share Certificate
0.05%SavingsShare Savings Account
0.40%2-year CD24 Month Share Certificate

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

Torch Lake Federal Credit Union is headquartered in Laurium and is the 227th largest credit union in the state of Michigan. It is also the 4,557th largest credit union in the nation. It was established in 1955 and as of September of 2016, it had grown to 3 employees and 2,036 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
B
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 - YTD-0.09%
Return on Equity - YTD-0.97%
Annual Interest Income$180.00K
Assets and Liabilities
AssetsQ3 2016vs Q3 2015$7.5MM$7.1MM
LoansQ3 2016vs Q3 2015$4.5MM$4.3MM
DepositsQ3 2016vs Q3 2015$6.8MM$6.4MM
Equity CapitalQ3 2016vs Q3 2015$690.00K$700.00K
Loan Loss AllowanceQ3 2016vs Q3 2015$28.00K$21.00K
Unbacked Noncurrent LoansQ3 2016vs Q3 2015$32.00K$36.00K
Real Estate OwnedQ3 2016vs Q3 2015$0$0
Rates
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Torch Lake Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$25-Share Savings Account

Torch Lake Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%$500-18 Month Share Certificate
0.40%$500-24 Month Share Certificate
0.30%$500-12 Month Share Certificate
Locations


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