The Local Credit Union
Headquarters
39139 Mound Road
Sterling Height, MI 48310
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2024 Overview
General Credit Union Information
The Local is an NCUA insured institution located in Sterling Height, MI. It was founded in 1949 and has approximately $106.02 millions in assets.
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 63342 |
| Date Established | 1949 |
| Assets | $106.02 million |
| Loans | $47.63 million |
| Deposits | $91.95 million |
| Capital | $15.46 million |
Field of Membership Restrictions
Membership is open to members of union locals headquartered in Macomb, Wayne or Oakland Counties and retirees receiving a pension or social security.
Deposit Rates - May 4, 2024
Your Current Location: Ohio, OH 43085
We do not yet have rates for The Local
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Loan Rates - May 4, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for The Local
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 |
6.446% | 6.375% | 0.75 | $2,403 | $1,997 | Learn More |
NMLS ID: 2059741 |
6.638% | 6.500% | 0.75 | $4,595 | $2,023 | Learn More |
NMLS ID: 3030 |
7.212% | 7.125% | 0.88 | $2,800 | $2,156 | Learn More |
NMLS ID: 1907 |
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 |
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Branches
Below are The Local 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
THE LOCAL 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
The Local Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of The Local. 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
| The Local | U.S. Average |
|---|---|
| 1.10% | 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, The Local had $171,908 in non-current loans and $900 in owned assets. To cover these potential losses it had $15,456,717 in net worth and $279,537 in loans loss reserves. That gives it a Texas Ratio of 1.10%.
Net Worth
| The Local | U.S. Average |
|---|---|
| 14.56% | 13.62% |
The Local FCU has a net worth of 14.56% 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 The Local
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