Wanigas Credit Union is headquartered in Saginaw and is the 46th largest credit union in the state of Michigan. It is also the 770th largest credit union in the nation. It was established in 1952 and as of December of 2020, it had grown to 71 employees and 25,064 members at 5 locations. Wanigas Credit Union has an A+ health rating.
Field of Membership Restrictions
Wanigas Credit Union offers membership to those who work, attends school, worships or lives in any county of Michigan's lower peninsula. Anyone who receives social security, a pension, retirement annuity or similar from a government or private source and belongs to, or lives in the county contiguous to the county where Wanigas's principal of business is located. Additionally, membership is offered family of current members and employees of Wanigas Credit Union.
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Excellent local credit union that cares about its members
My parents had me open both savings and checking accounts with Wanigas when I was about 11 years old. The goal was to experience and become familiar with money management, which is an essential life skill. The representatives at the branch we usually visited were always personable and willing to go the extra mile for the customer. The very small minimum balances allow for anyone (including young people) to open an account. I was able to access my funds at Wanigas while traveling abroad in Mexico. I did require a password reset but even when calling internationally a representative was able to resolve this issue. As a local credit union, their online banking was not very strong at first but has improved to the point it is in keeping with other banks' systems. I no longer live near a branch but still keep my account open in case my parents, who still live in Saginaw, ever need financial assistance.
Loans Ranking For This Credit Union
Money must be very tight at this credit union because they often turn down loans, even though a credit score over 725 isn't good enough at times. I have been rejected 2 times having a score of 735 sending me to a commercial bank for the loan I wanted for which they accepted me. Kind of makes you wonder who runs this credit union.
Data as of Q4 2020
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68578 |
| Year Chartered | 1952 |
| Employees | 71 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.86% |
| Return on Equity - YTD | 6.12% |
| Annual Interest Income | $13.5MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2020vs Q4 2019 | $389.8MM$338.9MM |
| Loans | Q4 2020vs Q4 2019 | $236.7MM$219.6MM |
| Deposits | Q4 2020vs Q4 2019 | $331.2MM$284.9MM |
| Equity Capital | Q4 2020vs Q4 2019 | $54.2MM$49.6MM |
| Loan Loss Allowance | Q4 2020vs Q4 2019 | $2.4MM$1.6MM |
| Unbacked Noncurrent Loans | Q4 2020vs Q4 2019 | $778.00K$1.2MM |
| Real Estate Owned | Q4 2020vs Q4 2019 | $0$82.00K |