West Michigan Credit Union
Headquarters
1720 Michigan St Ne
Grand Rapids, MI 49503
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2024 Overview
General Credit Union Information
West Michigan is an NCUA insured institution located in Grand Rapids, MI. It was founded in 1956 and has approximately $255.7 millions in assets.
| NCUA Insured | Yes / State-Chartered |
| Charter Number # | # 62347 |
| Date Established | 1956 |
| Assets | $255.70 million |
| Loans | $124.55 million |
| Deposits | $204.94 million |
| Capital | $49.30 million |
Field of Membership Restrictions
Membership is open to those who live, worship or work in Lake, Kent, Manistee, Missaukee, Mecosta, Montcalm, Newaygo, Osceola, or Wexford Counties in Michigan. Membership is also open to employees and retirees of the State of Michigan who live or work in Benzie, Leelanau, Mason, Muskegon, Oceana, and Ottawa Counties; Miller Industries in Reed City.
Deposit Rates - November 7, 2024
Your Current Location: Ohio, OH 43085
| Savings and Money Market Rates (Share Account Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| Savings
|
0.10% | $2,500 | $4,999 |
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|
|
Money Market
|
0.20% | $10,000 | $14,999 |
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|
|
Money Market
|
0.20% | $25,000 | $29,999 |
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|
| CD Rates (Share Certificate Rates) | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Mo CD
|
0.25% | $10,000 | $14,999 |
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|
| 6 Mo CD
|
0.75% | $100,000 | $199,999 |
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|
| 12 Mo CD
|
0.30% | $10,000 | $14,999 |
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|
| 12 Mo CD
|
0.80% | $100,000 | $199,999 |
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|
| 18 Mo CD
|
0.35% | $10,000 | $14,999 |
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|
| 18 Mo CD
|
0.86% | $100,000 | $199,999 |
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|
| 24 Mo CD
|
0.60% | $10,000 | $14,999 |
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|
| 24 Mo CD
|
1.11% | $100,000 | $199,999 |
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|
| 36 Mo CD
|
0.85% | $10,000 | $14,999 |
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|
| 36 Mo CD
|
1.36% | $100,000 | $199,999 |
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|
| 48 Mo CD
|
0.96% | $10,000 | $14,999 |
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|
| 48 Mo CD
|
1.47% | $100,000 | $199,999 |
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|
| 60 Mo CD
|
1.11% | $10,000 | $14,999 |
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|
| 60 Mo CD
|
1.61% | $100,000 | $199,999 |
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|
Loan Rates - November 7, 2024
Your Current Location: Ohio, OH 43085
There are currently no loan rates available for West Michigan
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: 2262032 License#: RM.804810.000 |
6.391% | 6.250% | 1.00 | $4,800 | $1,971 | Learn More |
NMLS ID: 2578474 |
6.596% | 6.500% | 0.63 | $3,210 | $2,023 | Learn More |
NMLS ID: 1025894 |
6.993% | 6.875% | 1.00 | $3,852 | $2,103 | Learn More |
NMLS ID: 3030 |
7.313% | 7.250% | 0.63 | $2,000 | $2,183 | Learn More |
Featured - Ohio Home Equity Line Of Credit Rates 2024
| Lender | APR (%)? | Monthly Payment? | Learn More |
|---|---|---|---|
Third Federal Savings and Loan See Table |
Intro APR 7.490 % After Intro: 7.490 % |
$0 |
Learn More
More Info |
Note to West Michigan
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Branches
Below are West Michigan 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
West Michigan Locations around zip code 43085
| Branch | Distance | Map | View Lobby Hours |
|---|---|---|---|
| 247.21 | A | View Lobby Hours | |
| 250.38 | B | View Lobby Hours | |
| 252.72 | C | View Lobby Hours | |
| 289.35 | D | View Lobby Hours | |
| 289.42 | E | View Lobby Hours | |
| 300.96 | F | View Lobby Hours | |
| 324.19 | G | View Lobby Hours |
Climate Policy and Initiatives
WEST MICHIGAN 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
West Michigan Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of West Michigan. 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
| West Michigan | U.S. Average |
|---|---|
| 1.21% | 5.83 |
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 June 30, 2024, West Michigan had $574,443 in non-current loans and $29,630 in owned assets. To cover these potential losses it had $49,295,288 in net worth and $584,718 in loans loss reserves. That gives it a Texas Ratio of 1.21%.
Net Worth
| West Michigan | U.S. Average |
|---|---|
| 19.26% | 13.93% |
West Michigan FCU has a net worth of 19.26% versus the BestCashCow average of 13.93. 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 West Michigan
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