Michigan Schools And Government Credit Union
Headquarters
40400 Garfield Road
Clinton Townshi, MI 48038
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2024 Overview
General Credit Union Information
Michigan Schools And Government is an NCUA insured institution located in Clinton Townshi, MI. It was founded in 1954 and has approximately $3629.06 millions in assets.
Who can join?
Employees, students, former students, alumni, and retirees of educational institutions in the Michigan counties of Genesee, Lapeer, Livingston, Macomb, Oakland, St. Clair, Washtenaw, and Wayne. This includes anyone that went to school in any of these counties or is related to someone that does/did.
Elected officials, appointed officials, employees, and retirees of any department or agency of the federal government of any state, county, or local government or political subdivision thereof located within the Michigan counties of Genesee, Lapeer, Livingston, Macomb, Oakland, St. Clair, Washtenaw, and Wayne.
Employees or members of employer groups or other organized groups or businesses which are located within 25 miles of any Credit Union office.
Any person over age 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, Lapeer, Livingston, Macomb, Oakland, St. Clair, Washtenaw, or Wayne Counties.
A spouse of a deceased member if accepted into membership prior to remarriage.
Members of MSGCU who attained membership through other eligibility requirements in place prior to 8/1/2006 will retain their membership.
Relatives by blood or marriage of any of the above. Relatives are eligible to join even if above individuals are not members.
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 62049 |
| Date Established | 1954 |
| Assets | $3,629.06 million |
| Loans | $3,115.05 million |
| Deposits | $2,842.72 million |
| Capital | $427.01 million |
Field of Membership Restrictions
Membership in Michigan Schools and Government Credit Union is open to the following: (1) those who live, work, worship or attend school in Michigan’s lower peninsula; (2) employees, students, alumni, retirees, and former students of any educational institution in Genesee, Lapeer, Livingston, Macomb, Oakland, St. Clair, Washtenaw and Wayne Counties in Michigan and their families; (3) any person over age 55 receiving retirement payments and live in or belong to a retirement organization in the counties above; (4) employees or retirees of any federal, state, county, or local government department or agency in the above counties.
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
|
0.30% | $25,000 | $29,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.40% | $10,000 | $14,999 |
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|
| 6 Mo CD
|
0.40% | $100,000 | $199,999 |
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|
| 12 Mo CD
|
0.50% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.50% | $100,000 | $199,999 |
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|
| 18 Mo CD
|
0.90% | $10,000 | $14,999 |
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|
| 18 Mo CD
|
0.90% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
0.60% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
0.60% | $100,000 | $199,999 |
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|
| 36 Mo CD
|
0.90% | $10,000 | $14,999 |
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|
| 36 Mo CD
|
0.90% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
1.10% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
1.10% | $100,000 | $199,999 |
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|
| 60 Mo CD
|
1.30% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
1.30% | $100,000 | $199,999 |
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|
| Variable IRA Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Var IRA
|
0.50% | $1 | $499 | Learn More |
Loan Rates - April 27, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for Michigan Schools And Government
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: Not a Lender |
Learn More | |||||
NMLS ID: 491986 |
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 Michigan Schools And Government
To upload and update your bank's rates please register.
It is free to register and add rates.
Branches
Below are Michigan Schools And Government 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
MICHIGAN SCHOOLS AND GOVERNMENT 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
Michigan Schools And Government Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Michigan Schools And Government. 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 Schools And Government | U.S. Average |
|---|---|
| 6.02% | 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, Michigan Schools And Government had $26,011,665 in non-current loans and $808,091 in owned assets. To cover these potential losses it had $427,013,183 in net worth and $18,451,128 in loans loss reserves. That gives it a Texas Ratio of 6.02%.
Net Worth
| Michigan Schools And Government | U.S. Average |
|---|---|
| 11.77% | 13.62% |
Michigan Schools And Government FCU has a net worth of 11.77% 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 Michigan Schools And Government
Roger
August 6, 2019
These people are crooks. They make up ways to steal your money through fees. They will short you on your interest. Beware!
Is this review helpful? Yes:1 / No: 0
MSU
December 1, 2018
Staff
Is this review helpful? Yes:0 / No: 0
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