Elga Credit Union
Headquarters
6065 Grand Pointe Dr
Grand Blanc, MI 48439
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2024 Overview
General Credit Union Information
Elga is an NCUA insured institution located in Grand Blanc, MI. It was founded in 1968 and has approximately $1499.43 millions in assets.
Who can join?
Individuals who live, work, worship, volunteer, or attend school within Genesee, Saginaw, Lapeer, Shiawassee, Oakland, and Livingston Counties are eligible to join.
Also Eligible are:
• Employees or retirees of Consumers Energy Company.
• Members of the Building Trades AFL-CIO.
• Any person over the age of 55 who receives a retirement annuity, pension, social security, or similar retirement payment from private or government sources, and lives in, or belongs to a retirement organization located in Genesee County or in a county contiguous to Genesee County.
• Any person making a $25.00 donation to the Salvation Army Bed and Bread Program. Members of the immediate families of the above.
• Employees or members of employer groups or other organized groups which are located within 25 miles of the credit Union's main office or a branch office.
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 61797 |
| Date Established | 1968 |
| Assets | $1,499.43 million |
| Loans | $1,224.99 million |
| Deposits | $1,089.62 million |
| Capital | $377.94 million |
Field of Membership Restrictions
ELGA Credit Union of Michigan is open to the residents, registered students, community volunteers, church members, and people maintaining employment within these eligible counties: Genesee,Saginaw, Lapeer, Shiawassee, Oakland, and Livingston along with retired seniors age 55+ and receives a retirement income compensation in Genesee or the surrounding counties. Membership eligibility also extends to include the employees of the employer groups located within a 25-mile distance of a credit union office in any direction, members of the Building Trades AFL-CIO, and persons that donate $25 to the Salvation Army Bed & Bread Program as well as the family members of any of these described individuals.
Deposit Rates - April 27, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.15% | $2,500 | $4,999 |
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|
|
Money Market
|
0.15% | $2,500 | $2,999 |
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|
|
Money Market
|
0.25% | $10,000 | $14,999 |
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|
|
Money Market
|
0.25% | $25,000 | $29,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 12 Mo CD
|
0.85% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.95% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
1.00% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
1.15% | $100,000 | $199,999 |
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|
| 36 Mo CD
|
1.10% | $10,000 | $14,999 |
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|
| 36 Mo CD
|
1.30% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
1.25% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
1.40% | $100,000 | $199,999 |
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|
| 60 Mo CD
|
1.35% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
1.50% | $100,000 | $199,999 |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Var IRA
|
0.50% | $1 | $499 | Learn More |
| Int Checking Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Int Ckg
|
0.10% | $2,500 | $3,499 | Learn More |
Loan Rates - April 27, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Elga
Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:
Featured - Ohio 30 Year Fixed Mortgage Rates 2024
| Lender | APR | Rate (%) | Points | Fees | Monthly Payment |
Learn More |
|---|---|---|---|---|---|---|
NMLS ID: 1835285 |
6.787% | 6.750% | 0.38 | $1,203 | $2,076 | Learn More |
NMLS ID: 3030 |
7.463% | 7.375% | 0.88 | $2,800 | $2,211 | Learn More |
NMLS ID: 1907 |
Learn More | |||||
NMLS ID: Not a Lender |
Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
7.490 %
|
$0 |
Learn More
More Info |
Note to Elga
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Branches
Below are Elga branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.
Your Location:
Columbus,Ohio
Climate Policy and Initiatives
ELGA is encouraged to provide us with this information. When we receive this information from the credit union, we will provide it here.
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Financial Details
Elga Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Elga. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.
Texas Ratio
| Elga | U.S. Average |
|---|---|
| 6.08% | 6.97 |
The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.
As of December 31, 2023, Elga had $23,049,375 in non-current loans and $400,842 in owned assets. To cover these potential losses it had $377,939,356 in net worth and $7,733,460 in loans loss reserves. That gives it a Texas Ratio of 6.08%.
Net Worth
| Elga | U.S. Average |
|---|---|
| 25.15% | 13.62% |
Elga FCU has a net worth of 25.15% versus the BestCashCow average of 13.62. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.
Customer Reviews for Elga
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