Credit union · NCUA insured
Breakwater Federal Credit Union
Top CarrotA $138.4M credit union headquartered in Houghton, MI, with 10,390 members and 1 branch in Michigan. Best rates: CDs 3.50% and savings 0.05% APY.
Breakwater Federal Credit Union Carrot Score
Carrot ScoreTop Carrot
Higher than 84% of U.S. banks and credit unions
#2 of 6 in Houghton, MI metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Breakwater Federal Credit Union
Breakwater Federal Credit Union is a member-owned institution founded in 1952 and headquartered in Houghton, Michigan.
Originally established as Michigan Tech Employees FCU, it merged with Pelkie Copper Country Community Credit Union in 2000, adopted a community charter in 2018, and became Breakwater in 2022.
The credit union serves individuals and businesses throughout Houghton, Keweenaw, and Baraga counties.
- Headquarters
- 700 E Sharon Ave, Houghton, MI 49931-1618
- NCUA charter
- 8212
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- Membership is open to anyone who lives, works, worships, attends school, or regularly conducts business in Houghton, Keweenaw, or Baraga County.
Cost to join
- $25 share deposit required for business accounts.
- $25 share deposit required for organization accounts.
- $25 share deposit required for Regular/Prestige personal accounts.
- $5 share deposit required for Youth Saver/Teen Saver personal accounts.
Branches
1 branch in Michigan
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Michigan
1 branch
- Main Branch/Corporate OfficesMain office700 E Sharon Ave, Houghton, MI 49931Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
Well capitalizedas reported to the NCUA
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 13.68% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 0.32% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 2.16% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $70 | $76 | — |
- CapitalNet worth ratio13.68%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late0.32%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets2.16%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$70Peers’ middle $76
Compared with the 1,338 credit unions with $100 million to $1 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of Breakwater Federal Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.