Plymouth, MI 48170

Notable Rates APY Vs.Others
Savings 0.25% 1.90% →
1-Year CD 1.75% 1.90% →
2-Year CD 2.00% 1.95% →
5-Year CD N.A. 2.00% →
30-Year Mortgage N.A. 3.14% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.50% →

2020 Overview

General Credit Union Information

Michigan Educational is an NCUA insured institution located in Plymouth, MI. It was founded in 1942 and has approximately $853.83 millions in assets.

Who can join?

All people who reside, work or worship within the counties of Wayne, Washtenaw, Oakland, Macomb, Livingston, or Jackson, Michigan, are eligible to join MECU.

Immediate family members of someone who is already a member are also eligible to join, including relatives by blood or marriage.

NCUA Insured Yes
Charter Number # # 60931
Date Established 1942
Assets $853.83 million
Loans $532.98 million
Deposits $740.72 million
Capital $107.18 million

Field of Membership Restrictions

Michigan Educational Credit Union is open to those who live, worship or work in Wayne, Washtenaw, Oakland, Macomb, Livingston, and Jackson Counties in Michigan.

Deposit Rates - April 7, 2020

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
CD Rates (Share Certificate Rates) APY MIN MAX
3 Mo CD
0.50% $2,500 - Learn MoreShow Less
6 Mo CD
0.70% $2,500 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
0.40% $50 - Learn MoreShow Less
Fixed IRA
1.75% $2,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 - Learn MoreShow Less

Loan Rates - April 7, 2020

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for MICHIGAN EDUCATIONAL

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Learn More
Rocket Mortgage
NMLS ID: 3030
4.542% 4.500% 0.00 $1,250 $1,267 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More

To upload and update your bank's rates please register. It is free to register and add rates.


Below are Michigan Educational 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:

Michigan Educational Locations

Financial Details

Michigan Educational Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Michigan Educational. 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
Michigan Educational U.S. Average
3.64% 5.92

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 September 30, 2019, Michigan Educational had $3,816,417 in non-current loans and $170,480 in owned assets. To cover these potential losses it had $107,181,191 in net worth and $2,473,859 in loans loss reserves. That gives it a Texas Ratio of 3.64%.

Net Worth
Michigan Educational U.S. Average
12.55% 13.86%

Michigan Educational FCU has a net worth of 12.55% versus the BestCashCow average of 13.86. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Michigan Educational

Branches and Savings

What is Michigan Educational?

A federal credit union, registered with the NCUA under certificate #60931.
Learn more about credit unions here.

Is Michigan Educational FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Michigan Educational?

Please see Field of Membership information above for information on who is eligible to join.

What are Michigan Educational's share account and share certificate rates?

Michigan Educational's deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Michigan Educational?

Michigan Educational has total capital of $107.18 million. Full information on Michigan Educational's financial position is located above.

Who owns Michigan Educational?

Credit Unions are owned by their members.

Where are Michigan Educational branches located?

See branch locations nearby.

Are Michigan Educational ATMs Open 24/7?

Do Michigan Educational ATMs accept cash deposits?

Can Michigan Educational customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Michigan Educational have a mobile app?

Does Michigan Educational have mobile deposit?

Does Michigan Educational have quick pay?

How can Michigan Educational transfer money to other banks or credit unions?

Does Michigan Educational report to credit bureaus?

Does Michigan Educational use Chexsystems?

Does Michigan Educational use Equifax?

What is Michigan Educational's toll free phone number?

What is Michigan Educational's ACH Routing Number?

What is Michigan Educational's SWIFT code?

Where can I find Michigan Educational's wire transfer form?

What is the Michigan Educational address for deposits?

What Products Does Michigan Educational Offer

Does Michigan Educational offer mortgages?

Compare mortgage rates here.

Does Michigan Educational offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Michigan Educational offer auto and RV loans?

Compare auto loan rates here.

Does Michigan Educational offer student loans or personal loans?

Compare personal loan rates here.

Customer Reviews for Michigan Educational

There are currently no comments for Michigan Educational. Be the first to share your experience. Please provide comments that will help others.

Add Your Review

Rate it here →