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West Michigan Credit Union


Overview / Commentary
westmichigancu.com
616-451-4567
1319 Front Ave NW
Grand Rapids, MI 49504

West Michigan Credit Union is headquartered in Grand Rapids and is the 69th largest credit union in the state of Michigan. It is also the 1,194th largest credit union in the nation. It was established in 1956 and as of September of 2020, it had grown to 54 employees and 15,798 members at 7 locations. West Michigan Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership is open to those who live, worship or work in Lake, Kent, Manistee, Missaukee, Mecosta, Montcalm, Newaygo, Osceola, or Wexford Counties in Michigan. Membership is also open to employees and retirees of the State of Michigan who live or work in Benzie, Leelanau, Mason, Muskegon, Oceana, and Ottawa Counties; Miller Industries in Reed City.
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Health
A+

Data as of Q3 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #62347
Year Chartered1956
Employees54
Primary Regulator
Profit Margin
Return on Assets - YTD0.77%
Return on Equity - YTD4.51%
Annual Interest Income$4.2MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$191.5MM$166.0MM
LoansQ3 2020vs Q3 2019$109.5MM$100.7MM
DepositsQ3 2020vs Q3 2019$156.2MM$132.0MM
Equity CapitalQ3 2020vs Q3 2019$32.4MM$30.9MM
Loan Loss AllowanceQ3 2020vs Q3 2019$538.00K$411.00K
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$82.00K$274.00K
Real Estate OwnedQ3 2020vs Q3 2019$0$0
Rates
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West Michigan Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$5k-Gold Savings
0.10%$2.5k-Midas Savings
0.05%$1-Nest Egg Savings
0.05%$1-Christmas Club
0.05%$5-Share Savings

West Michigan Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%$500-60 Month CD
0.50%$500-48 Month CD
0.45%$500-36 Month CD
0.40%$500-24 Month CD
0.30%$500-18 Month CD
0.25%$500-12 Month CD
0.15%$500-3 Month CD
0.15%$500-6 Month CD

West Michigan Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%$500-60 Month Traditional IRA CD
0.60%$500-60 Month Roth IRA CD
0.50%$500-48 Month Traditional IRA CD
0.50%$500-48 Month Roth IRA CD
0.45%$500-36 Month Traditional IRA CD
0.45%$500-36 Month Roth IRA CD
0.45%$500-36 Month Education IRA CD
0.40%$500-24 Month Traditional IRA CD
0.40%$500-24 Month Roth IRA CD
0.30%$500-18 Month Traditional IRA CD
0.25%$500-12 Month Traditional IRA CD
0.25%$500-12 Month Roth IRA CD
0.25%$500-12 Month Education IRA CD
Locations


West Michigan Credit Union Locations
Branch Office215 Bell AveCadillac, MI 49601-1103
Branch Office4795 220th AvenueReed City, MI 49677-1395
Branch Office802 Division StBig Rapids, MI 49307-2230
Branch Office825 Division StBig Rapids, MI 49307-2229
Branch Office1319 Front Ave NWGrand Rapids, MI 49504
Branch Office316 Care Center DrManistee, MI 49660
Corporate Office1720 Michigan St NEGrand Rapids, MI 49503

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