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Muskegon Credit Union

Overview
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Muskegon Credit Union is a federal credit union based in Muskegon, Michigan. It has been opened since 1951, for 69 years.

With around $49,680,000 in assets, Muskegon Credit Union is considered to be an average size credit union.

About
Address 65 W. Laketon Avenue
Muskegon, Michigan 49441
Website http://WWW.MUSKFEDCU.COM
Phone (231) 722-7285
CEO Janet K. Herrmann
President of the Board Cheryl Payne
Services Offered
Map
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Score Card
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69 years
Years in business
Opened in 1951
Well Capitalized
Net worth classification
Source: NCUA
5,232 members
Membership type: Multiple common bond – primary federal, state, local government
Average number of members
374:1
Credit union member to staff ratio
374 per each FTE employee
Compared to 411:1 nationally
Average number of staff
$49,684,013
Total assets
Average size
2 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
8.00%
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
Muskegon Credit Union Branch Locations

Muskegon Credit Union: Corporate Office
65 W. Laketon Avenue
Muskegon, Michigan 49441
No ATM
Muskegon Credit Union: Branch
1700 Holton Road
Muskegon, Michigan 49445
No ATM
Members
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5,232 members
Membership type: Multiple common bond – primary federal, state, local government
Average number of members

With 5,232 members, the Muskegon Credit Union is considered to be a medium size credit union. It is larger than 58% of credit unions.

Fees
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$148
Average fee per member
The average fee per member at the Muskegon Credit Union is $148, which is very high compared to most credit unions. This rate is higher than 96% of all credit unions.
Fees are higher than 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 Muskegon Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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374:1
Credit union member to staff ratio
374 per each FTE employee
Compared to 411:1 nationally
Average number of staff
14 staff members
FTE (full-time equivalent)
0% of employees are part-time
14 full-time, 0 part-time

Muskegon Credit Union has 14 full-time staff members and 0 part-time staff members.

The number of members relative to staff members is an indication of how well staffed the credit union is. Muskegon Credit Union has around 374 members per staff, an average ratio compared to other credit unions. This is a somewhat well staffed credit union.

Assets
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$49,684,013
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.
11.9%
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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$9,118
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 41% of credit unions.

Muskegon Credit Union holds a total of $19,690,000 in loans and leases, which is about $9,118 per member on average.

Savings interest rate
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0.05%
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. Muskegon Credit Union pays 0.05%.

Loan rates
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8.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
17.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
4.70%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.91%
New car loan rate
Compared to 4.0% nationally
3.78%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.90%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
5.65%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally