Michigan First


27000 Evergreen Road
Lathrup Village, MI 48076
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.20% 0.65% →
1-Year CD 0.75% 0.70% →
2-Year CD 0.95% 0.75% →
5-Year CD 1.11% 1.15% →
30-Year Mortgage N.A. 2.72% →
15-Year Mortgage N.A. 2.36% →
HELOC N.A. 2.79% →

2021 Overview

General Credit Union Information

Michigan First is an NCUA insured institution located in Lathrup Village, MI. It was founded in 1926 and has approximately $1324.61 millions in assets.

Who can join?

Membership in Michigan First is now open to anyone who lives, works, or worships within Macomb, Oakland or Wayne counties.

In addition, field of membership also includes more than forty-seven different educational organizations and hundreds of private and charter schools.

The students, alumni and staff of these educational organizations, and their families, are also eligible for membership.

NCUA Insured Yes / State-Chartered
Charter Number # # 60522
Date Established 1926
Assets $1,324.61 million
Loans $842.40 million
Deposits $1,093.19 million
Capital $147.21 million

Field of Membership Restrictions

Membership in Michigan First Credit Union is open to anyone who lives, worships or works within the state of Michigan.

Deposit Rates - June 12, 2021

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
0.20% $2,500 $4,999 Learn More
Money Market
0.20% $2,500 $2,999 Learn More
Money Market
0.20% $10,000 $14,999 Learn More
Money Market
0.25% $25,000 $29,999 Learn More
CD Rates (Share Certificate Rates) APY MIN MAX
6 Mo CD
0.45% $10,000 $14,999 Learn More
6 Mo CD
0.50% $100,000 $199,999 Learn More
12 Mo CD
0.55% $10,000 $14,999 Learn More
12 Mo CD
0.75% $100,000 $199,999 Learn More
24 Mo CD
0.75% $10,000 $14,999 Learn More
24 Mo CD
0.95% $100,000 $199,999 Learn More
36 Mo CD
0.85% $10,000 $14,999 Learn More
36 Mo CD
1.00% $100,000 $199,999 Learn More
48 Mo CD
0.90% $10,000 $14,999 Learn More
48 Mo CD
1.06% $100,000 $199,999 Learn More
60 Mo CD
1.00% $10,000 $14,999 Learn More
60 Mo CD
1.11% $100,000 $199,999 Learn More
Variable IRA Rates APY MIN MAX
0.20% $1 $499 Learn MoreShow Less

Loan Rates - June 12, 2021

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for MICHIGAN FIRST

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 2021

Lender APR Rate (%) Points Fees Monthly
Learn More
CIT Bank
NMLS ID: 541760
2.945% 2.875% 0.88 $2,268 $1,038 Learn More
AmeriSave Mortgage Corporation
NMLS ID: 1168
2.678% 2.625% 0.75 $1,732 $1,005 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2021

Lender APR (%)? Monthly Payment? Learn More
BMO Harris Bank
BMO Harris Bank
See Table
Intro APR
1.990 %
After Intro: 4.840 %
Intro Period: 12 months
$0 Learn More
More Info
Third Federal Savings and Loan
Third Federal Savings and Loan
See Table
2.240 %
$0 Learn More
More Info
Bethpage Federal Credit Union
Bethpage Federal Credit Union
See Table
Intro APR
2.990 %
After Intro: 3.750 %
Intro Period: 12 months
$25,000 Learn More
More Info

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



Below are Michigan First 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 First Locations

Financial Details

Michigan First Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Michigan First. 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 First U.S. Average
4.89% 5.40

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, 2020, Michigan First had $7,605,844 in non-current loans and $129,969 in owned assets. To cover these potential losses it had $147,205,642 in net worth and $11,089,559 in loans loss reserves. That gives it a Texas Ratio of 4.89%.

Net Worth
Michigan First U.S. Average
11.11% 12.67%

Michigan First FCU has a net worth of 11.11% versus the BestCashCow average of 12.67. 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 First

Branches and Savings

What is Michigan First?

A credit union, registered with the NCUA under certificate #60522.
Learn more about credit unions here.

Is Michigan First FDIC insured?

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

Who can join Michigan First?

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

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

Michigan First'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 First?

Michigan First has total capital of $147.21 million. Full information on Michigan First's financial position is located above.

Who owns Michigan First?

Credit Unions are owned by their members.

Where are Michigan First branches located?

See branch locations nearby.

Are Michigan First ATMs Open 24/7?

Do Michigan First ATMs accept cash deposits?

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

Does Michigan First have a mobile app?

Does Michigan First have mobile deposit?

Does Michigan First have quick pay?

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

Does Michigan First report to credit bureaus?

Does Michigan First use Chexsystems?

Does Michigan First use Equifax?

What is Michigan First's toll free phone number?

What is Michigan First's ACH Routing Number?

What is Michigan First's SWIFT code?

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

What is the Michigan First address for deposits?

What Products Does Michigan First Offer

Does Michigan First offer mortgages?

Compare mortgage rates here.

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

Compare home equity lines of credit rates here.

Does Michigan First offer auto and RV loans?

Compare auto loan rates here.

Does Michigan First offer student loans or personal loans?

Compare personal loan rates here.

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