Wayne Westland Federal Credit Union


Overview / Commentary
734-721-5700
500 S Wayne Rd
Westland, MI 48186

Wayne Westland Federal Credit Union is headquartered in Westland and is the 94th largest credit union in the state of Michigan. It is also the 1,509th largest credit union in the nation. It was established in 1948 and as of December of 2023, it had grown to 32 employees and 11,016 members at 1 location. Wayne Westland Federal Credit Union's CD rates are 3X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in Wayne Westland Federal Credit Union is open to individuals who reside, work, regularly conduct business, attend school, worship or volunteer in Wayne County, Michigan. Those who participate in programs to relieve poverty or distress that are located in Wayne County also qualify for membership.
See current membership details

Reviews (1)

Fraud On Bankcard

I'm sorry to say that I am very disappointed in this credit union. I have been with them since 1995 and just recently my bank info was stolen and my account was frauded. I went to the bank expecting them to help me. But all I got was I NEED TO CONTACT THE COMPANIES MY CARD was charged too and try to get my money back. Really ....I need to investigate the fraud done to my account, your fraud department doesn't do that. I have had this experience happen one other time and the card company immediately reimbursed me and did there own investigation. This is poor service on there part and as a credit union you would expect a little more out of. I believe MY OTHER BANK would have provided me with better resolution. This is a total shame and I did share this with my friends and family who currently have accounts there



Health

Health Grade Components

Overall
NCUA #5928
Year Chartered1948
Employees32
Primary Regulator
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD19.24%
Annual Interest Income$4.9MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$144MM$144.2MM
LoansQ4 2023vs Q4 2022$72.9MM$69.4MM
DepositsQ4 2023vs Q4 2022$135.1MM$138.6MM
Equity CapitalQ4 2023vs Q4 2022$7.8MM$4.9MM
Loan Loss AllowanceQ4 2023vs Q4 2022$865K$628K
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$216K$105K
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates
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Wayne Westland Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%--Youth Account
0.08%--Christmas Club
0.05%--Savings Account
0.05%--Vacation Club

Wayne Westland Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.10%$50k-Capital Cash Account
0.95%$25k-Premier Investment Account
0.85%$2.5k-Money Market Account

Wayne Westland Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.06%--24 Month CD
3.03%--12 Month CD
1.66%--60 Month CD
1.61%--48 Month CD
1.51%--36 Month CD
1.31%--15 Month CD
1.11%--9 Month CD
1.05%--6 Month CD
1.00%--3 Month CD

Wayne Westland Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.66%--60 Month IRA
1.61%--48 Month IRA
1.51%--36 Month IRA
1.41%--24 Month IRA
1.31%--15 Month IRA
1.21%--12 Month IRA
1.15%--18 Month Variable IRA
1.05%--6 Month IRA
Locations


Wayne Westland Federal Credit Union Locations
Branch Office500 S Wayne RdWestland, MI 48186-4361

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