Vibe Credit Union is headquartered in Novi and is the 28th largest credit union in the state of Michigan. It is also the 531st largest credit union in the nation. It was established in 1936 and as of December of 2018, it had grown to 125 employees and 33,136 members at 10 locations. Vibe Credit Union has an A health rating.
Membership is open to those who live, work, attend school or worship in the lower peninsula of Michigan and to retirees of SBC, Ameritech, Western Electric, AT&T or Michigan Bell.
See current membership details
I had planned to take advantage of the 5 year 2.50% CD and became a member. Then I realized my CD's were IRA's and had them transferred someplace else where I could combine them with existing CD's for a higher rate.
I kept the account open and will open an account with them some day. Even though they are on the other side of the state they made the process of opening an account and becoming a member easy and flawless.
I have been a member for about 43 years while the organization has added more and more services.
As well, there've been at least three name changes. First name I remember was Detroit Telephone Employees Credit Union, and many of my co-workers were members who rated the CU highly. They do have hours into the early evening which increases the convenience.
Last Friday, I heard a rumor Vibe was going to start charging $2/month for mailing out account statements. I wrote to their customer service, pointing out that the only thing on their web site vaguely alluding to this was the statement: "*APY = Annual Percentage Yield. Fees could reduce the earnings on the account."
Their current Fee page states that if someone has joined prior to 2011 (as in my case), such a $2 statement fee is waived. I wrote to ask them if that policy was being rescinded. They claimed I could expect a response within one business day. Three business days later, with no response, I wrote them stating I was still waiting for an answer. Today (4 business days later), I repeated that input. I finally got a response: "We will begin charging a $2.00 paper statement fee for anyone who wishes to continue to receive paper statements starting with the January 2017 statement. We provide you with a free, convenient way to view and print your statements with eServices. The money saved by providing free electronic statements" (notice how the topic has shifted from having to pay for paper statements to free - until they decide otherwise - electronic statements) "will be reinvested into the products and services we offer to all members." (Isn't that nice for them?) "The fee structure document will be updated once the fee begins in 2017."
I neither have nor want home internet. Vibe seems to be willfully ignorant of the fact that savings holders are providing them with money to loan at a laughable interest rate. Keeping track of the money people lend them in their savings accounts is a responsibility, and should not be regarded as a burdensome chore by Vibe, for which they feel entitled to charge.
Vibe has a deluded sense of importance.
I use vine account for my financial aid deposit and had never had to contact their support line until just recently. Besides the fact that I had to call multiple times after waiting over 30 minutes to speak to a representative, when I finally got a hold of someone there was nothing but giggles and sarcasm to greet my concerns. I then asked to speak to a supervisor who also was unable to resolve my issue and did not come off as knowledgable. Extremely dissatisfied with the customer service I received today.
When I initially opened an account with Vibe, there was no monthly service charge as long as I had $5 in savings. When they switched to charging $3 per month for accounts with less than $500 in them, I was never informed (no e-mail, no regular mail. Just an unknown charge on my account. I read through my old banking e-mails to make sure I didn't miss it and still found nothing).
Paying the $3 isn't a problem - what is is that Vibe never actually informed me of the policy change. I've since closed the account because I do not feel safe banking with a company who did not bother to inform me of policy change.
|Return on Assets - YTD||0.38%|
|Return on Equity - YTD||2.7%|
|Annual Interest Income||$18.7MM|
|Assets and Liabilities|
|Assets||Q4 2018vs Q4 2017||$527.3MM$528.9MM|
|Loans||Q4 2018vs Q4 2017||$382.2MM$351.2MM|
|Deposits||Q4 2018vs Q4 2017||$441.5MM$445.8MM|
|Equity Capital||Q4 2018vs Q4 2017||$74.4MM$71.8MM|
|Loan Loss Allowance||Q4 2018vs Q4 2017||$2.0MM$1.9MM|
|Unbacked Noncurrent Loans||Q4 2018vs Q4 2017||$1.1MM$773.00K|
|Real Estate Owned||Q4 2018vs Q4 2017||$81.00K$301.00K|
Rates for Vibe Credit Union are currently being reviewed.
|Branch Office||3082 Coolidge Hwy||Berkley, MI 48072|
|Branch Office||44300 Warren Rd||Canton, MI 48187-2145|
|Branch Office||214 W 9 Mile Rd||Ferndale, MI 48220-1794|
|Branch Office||9373 Middlebelt Rd||Livonia, MI 48150-3060|
|Branch Office||22245 Haggerty Rd||Novi, MI 48375-5316|
|Branch Office||44575 W 12 Mile Rd||Novi, MI 48377-2505|
|Royal Oak Branches|
|Branch Office||501 S Main St||Royal Oak, MI 48067-2617|
|South Lyon Branches|
|Branch Office||21985 Pontiac Trl||South Lyon, MI 48178-8727|
|Branch Office||26595 Evergreen Rd||Southfield, MI 48076-4217|
|Sterling Heights Branches|
|Branch Office||33950 Van Dyke Ave||Sterling Heights, MI 48312|