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Walled Lake School Employees Credit Union

Overview
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Walled Lake School Employees Credit Union is a federal credit union based in Wolverine Lake, Michigan. It has been opened since 1950, for 70 years.

With around $108,000,000 in assets, Walled Lake School Employees Credit Union is considered to be a large credit union. It has 1 branches and 1 ATM locations.

About
Address 3095 S. Commerce Road
Wolverine Lake, Michigan 48390
Website http://www.wlsefcu.com
Phone (248) 624-5222
Fax (248) 624-0614
CEO Catherine I. Hawes
President of the Board Barbara Garbutt
Services Offered
Map
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Score Card
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70 years
Years in business
Opened in 1950
Well Capitalized
Net worth classification
Source: NCUA
5,866 members
Membership type: Multiple common bond – primary educational
Above average number of members
419:1
Credit union member to staff ratio
419 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$107,995,271
Total assets
Above average
1 branch
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
12.84%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
Walled Lake School Employees Credit Union Branch Locations

Walled Lake School Employees Credit Union: Main
3095 S. Commerce Road
Wolverine Lake, Michigan 48390
ATM Available
Members
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5,866 members
Membership type: Multiple common bond – primary educational
Above average number of members

With 5,866 members, the Walled Lake School Employees Credit Union is considered to be a large credit union. It is larger than 60% of credit unions.

Fees
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$22
Average fee per member
The average fee per member at the Walled Lake School Employees Credit Union is $22, which is low compared to most credit unions. This rate is lower than 72% of all credit unions.
Fees are lower 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 Walled Lake School Employees Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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419:1
Credit union member to staff ratio
419 per each FTE employee
Compared to 411:1 nationally
Fewer staff
14 staff members
FTE (full-time equivalent)
0% of employees are part-time
14 full-time, 0 part-time

Walled Lake School Employees 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. Walled Lake School Employees Credit Union has around 419 members per staff, a higher ratio compared to other credit unions.

Assets
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$107,995,271
Total assets
Above average
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.
12.1%
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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$12,138
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 65% of credit unions.

Walled Lake School Employees Credit Union holds a total of $29,240,000 in loans and leases, which is about $12,138 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. Walled Lake School Employees Credit Union pays 0.05%.

Loan rates
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12.84%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
16.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.49%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.99%
New car loan rate
Compared to 4.0% nationally
3.99%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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6.25%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.75%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally