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Metro North Credit Union

Overview
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Metro North Credit Union is a federal credit union based in Waterford, Michigan. It has been opened since 1952, for 68 years.

With around $45,990,000 in assets, Metro North Credit Union is considered to be an average size credit union. It has 2 branches and 2 ATM locations.

About
Address 4594 Pontiac Lake Road
Waterford, Michigan 48328
Website http://www.mnfcu.com
Phone (248) 674-0491
Fax (248) 674-1644
CEO Jeffrey Rabanus
President of the Board David Elliston
Services Offered
Map
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Score Card
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68 years
Years in business
Opened in 1952
Well Capitalized
Net worth classification
Source: NCUA
6,541 members
Membership type: Multiple common bond – primary educational
Above average number of members
327:1
Credit union member to staff ratio
327 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
$45,985,871
Total assets
Average size
2 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
0.01%
Savings interest rate
Compared to 0.3% nationally
9.75%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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2 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
Metro North Credit Union Branch Locations

Metro North Credit Union: Holly
15156 North Holly Road
Holly, Michigan 48442
ATM Available
Metro North Credit Union: Waterford
4594 Pontiac Lake Road
Waterford, Michigan 48328
ATM Available
Members
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6,541 members
Membership type: Multiple common bond – primary educational
Above average number of members

With 6,541 members, the Metro North Credit Union is considered to be a large credit union. It is larger than 62% of credit unions.

Fees
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$49
Average fee per member
The average fee per member at the Metro North Credit Union is $49, which is comparable to most credit unions. This rate is lower than 49% of all credit unions.
Fees are average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Metro North Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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327:1
Credit union member to staff ratio
327 per each FTE employee
Compared to 411:1 nationally
Lots of staff!
20 staff members
FTE (full-time equivalent)
10% of employees are part-time
19 full-time, 2 part-time

Metro North Credit Union has 19 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 90% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Metro North Credit Union has around 327 members per staff, a low ratio compared to other credit unions. This is a well staffed credit union.

Assets
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$45,985,871
Total assets
Average size
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
8.1%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$6,426
Average loan and lease size
Loan & lease sizes are very small. They are smaller than at 82% of credit unions.

Metro North Credit Union holds a total of $26,630,000 in loans and leases, which is about $6,426 per member on average.

Savings interest rate
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0.01%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Metro North Credit Union pays 0.01%.

Loan rates
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9.75%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
9.36%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
4.93%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.94%
New car loan rate
Compared to 4.0% nationally
3.88%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.41%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
3.57%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally