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Western Districts Members Credit Union

Overview
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Western Districts Members Credit Union is a federally insured state credit union based in Grand Rapids, Michigan. It has been opened since 1952, for 68 years.

With around $39,060,000 in assets, Western Districts Members Credit Union is considered to be an average size credit union.

About
Address 201 36th Street SE
Grand Rapids, Michigan 49548
Website http://www.wdmcu.org
Phone (616) 241-2516
Fax (616) 241-4730
CEO David T. Keim
President of the Board David Zawacki
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
3,140 members
Membership type: State chartered natural person credit union
Average number of members
273:1
Credit union member to staff ratio
273 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
$39,057,694
Total assets
Average size
2 branches
Compared with an average of 4 nationally and 4 in Michigan
Above average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
7.90%
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
Western Districts Members Credit Union Branch Locations

Western Districts Members Credit Union
201 36th Street SE
Grand Rapids, Michigan 49548
No ATM
Western Districts Members Credit Union
600 Plymouth Avenue NE
Grand Rapids, Michigan 49505
No ATM
Members
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3,140 members
Membership type: State chartered natural person credit union
Average number of members

With 3,140 members, the Western Districts Members Credit Union is considered to be a medium size credit union. It is larger than 46% of credit unions.

Fees
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$65
Average fee per member
The average fee per member at the Western Districts Members Credit Union is $65, which is high compared to most credit unions. This rate is higher than 63% 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 Western Districts Members Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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273:1
Credit union member to staff ratio
273 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
12 staff members
FTE (full-time equivalent)
8% of employees are part-time
11 full-time, 1 part-time

Western Districts Members Credit Union has 11 full-time staff members and 1 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 92% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Western Districts Members Credit Union has around 273 members per staff, a very low ratio compared to other credit unions. This is a very well staffed credit union.

Assets
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$39,057,694
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.
19.3%
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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$8,305
Average loan and lease size
Loan & lease sizes are small. They are smaller than at 67% of credit unions.

Western Districts Members Credit Union holds a total of $18,120,000 in loans and leases, which is about $8,305 per member on average.

Savings interest rate
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0.10%
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. Western Districts Members Credit Union pays 0.10%.

Loan rates
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7.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
15.00%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.50%
New car loan rate
Compared to 4.0% nationally
5.75%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.00%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.00%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally