Zeal Credit Union

Overview / Commentary
17250 Newburgh Rd
Livonia, MI 48152

Zeal Credit Union is headquartered in Livonia and is the 30th largest credit union in the state of Michigan. It is also the 520th largest credit union in the nation. It was established in 1954 and as of March of 2024, it had grown to 127 employees and 66,812 members at 12 locations. Zeal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in Zeal Credit Union is open to anyone through a one-time membership fee ($2) to CSI Support and Development Services.
See current membership details

I Love Zeal Credit Union

Posted by: |

I have been with Zeal for nearly ten years and I have never been dissatisfied. There were moments in my life where I had two dollars in my checking account and they never once gave me a surcharge. They aren't out for your money, they're out to make you their customer. Of course, there are a few annoyances with their security, but the complaint pertains to how overly secure they are with giving access to my accounts. Overall though, I'd rather have a more secure bank than a less secure one. I use them for my Savings and checking and both are flawless and I've never had to pay a single cent in fees or surcharges. I also have a secured credit card though them and it is helping me build my credit back to what it used to be. I will probably use my credit union when I need a car loan or a mortgage.

Over Draft Protection Or Lack Of

Posted by: |

I have been a Co-Op services member for almost 20 years, and in general have always been happy with all services offered and the execution of these services........
I have recently decided to close all accounts and shift service to another bank based on one
reason..... and this happens once every year to 2 years.
They refuse to offer any draft protection that draws from you savings account. The offer a service
(so they call it ) that if you over draft they pay it anyway and merely charge you 30.00. Well this
is how that service really works ( mostly for them ). Your over draft goes through and places your account in the negative ( for good reason, you over drafted ) and now every charge or withdraw you make until you figure out you have over drafted gets its own 30.00 fee. So you can easily rack up 100-200.00 in fees over a week end until you figure it out, and the charge may have been a bunch of 5.00, 15.00 charges, each one still gets a 30.00 fee.
The old way was they would not put it through, you would be charged by them and the business (okay two charges) but at least your small charges are still covered. In other words they allow you to drain your account through honest mistake , and take advantage of it. (my cases were automatic yearly withdrawals that I missed)
When asked to go to savings protected over draft, I have been told each year for 4 years, " we don't have it, they are working on getting that instituted"......REALLY! 4 YEARS and can't institute a savings protection? Oh but wait... they did institute a LINE OF CREDIT protection this year, you can apply for a line of credit and that will protect your over draft.....again REALLY! Do you think we are total idiots? They are manipulating us into getting lines of credit that they hope we will run up for all kinds of reason other then overdraft, and this is possible but not savings overdraft?

Very Dissapointed

I am very disappointed in Zeal Credit Union. First their wait times to get to a representative are extremely long. Then they are quick to charge you an overdraft fee and wont give you any time to correct it before the fee kicks in. Most banks give you at least 24 hours to make a deposit to correct your overdraft but not Zeal. Within a couple of hours you are hit with a $30 fee even if you are overdrawn by a penny! The only recourse they give you is offering to remove a one-time overdraft fee as a courtesy.

First Time Visit To Open Account

Posted by: |

I wanted to open a business account, I walked into a Zeal branch and noticed money in bags sitting in lobby. Also only one teller working. I walked out immediately for my safety. people are crazy today and a robbery could have happened and I didn't feel safe. I also didn't think the employees are safe due to the setup in lobby. they have no protection. and bad management very RUDE.



Health Grade Components

NCUA #62426
Year Chartered1954
Primary Regulator
Profit Margin
Return on Assets - YTD2.75%
Return on Equity - YTD16.51%
Annual Interest Income$10.1MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$830.8MM$848.3MM
LoansQ1 2024vs Q1 2023$632.3MM$538.2MM
DepositsQ1 2024vs Q1 2023$684.2MM$721.8MM
Equity CapitalQ1 2024vs Q1 2023$137MM$115.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$6.5MM$7.5MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$8.1MM$5.4MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0

Rates for Zeal Credit Union are currently being reviewed.



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