Credit union · NCUA insured
Michigan Schools & Government Credit Union Carrot Score
Top CarrotA $4.4B credit union, the 112th largest of 4,329, headquartered in Clinton Township, MI, with 162,111 members and 24 branches in Michigan.
Michigan Schools & Government Credit Union Carrot Score
Carrot ScoreTop Carrot
Higher than 89% of U.S. banks and credit unions
- CDs93
- Savings82
- Auto loans83
- Credit cards87
Each bar is every U.S. bank and credit union, lowest score to highest. Choose a product to see its rates.
Where Michigan Schools & Government Credit Union ranks
By Carrot score, in each area where it has branches
Scores run from 60 to 99; 90 and up means rates near the best in the country. Top Carrot marks a score of 87 or more, the top quarter of U.S. banks and credit unions. It’s about rates only, not safety, service or who can join.
By product
How each product scores
How its rates compare with every U.S. bank and credit union. Open a product to see them.
CDs
93top 5% nationally
| Term | Its rate | Beats | U.S. median | Top 25% atTop 25% | Top 10% at |
|---|---|---|---|---|---|
| 3-8 months | 2.50% | 24% | 3.50% | 3.82% | 4.05% |
| 9-15 months | 4.55% | 99% | 3.70% | 4.00% | 4.25% |
| 16-30 months | 4.45% | 97% | 3.35% | 3.85% | 4.20% |
| 31-60 months | 3.50% | 67% | 3.05% | 3.65% | 4.07% |
| Qualified | 4.55% | 97% | 3.85% | 4.15% | 4.35% |
Best rates 98.1 · all terms 80.4 → 91.0 → 93
Savings
82top 42% nationally
| Balance | Its rate | Beats | U.S. median | Top 25% atTop 25% | Top 10% at |
|---|---|---|---|---|---|
| $1,000 | 0.35% | 66% | 0.20% | 0.50% | 1.51% |
| $10,000 | 0.60% | 56% | 0.50% | 1.15% | 2.20% |
| $100,000 | 2.05% | 77% | 1.00% | 2.01% | 2.93% |
| Qualified | 0.60% | 51% | 0.60% | 1.31% | 2.43% |
Best rates 53.3 · all balances 61.3 → 56.5 → 82
Auto loans
83top 38% nationally
| Vehicle | Its rate | Beats | U.S. median | Top 25% atTop 25% | Top 10% at |
|---|---|---|---|---|---|
| New vehicle | 4.99% | 59% | 5.00% | 4.74% | 4.25% |
| Used vehicle | 4.99% | 71% | 5.39% | 4.99% | 4.49% |
Best rates 71.3 · all vehicles 65.2 → 68.8 → 83
Credit cards
87top 23% nationally
| Card | Its rate | Beats | U.S. median | Top 25% atTop 25% | Top 10% at |
|---|---|---|---|---|---|
| Purchase APR | 9.75% | 77% | 10.90% | 9.90% | 8.90% |
Best rates 77.1 · all rates 77.1 → 77.1 → 87
Where the score could improve
- CDs, 3-8 months3.82%2.50% today, higher than 24% of U.S. institutions. 3.82% would reach the top quarter; 4.05% the top 10%.
- CDs, 31-60 months3.65%3.50% today, higher than 67% of U.S. institutions. 3.65% would reach the top quarter; 4.07% the top 10%.
- Auto loans, New vehicle4.74%4.99% today, lower than 59% of U.S. institutions. 4.74% would reach the top quarter; 4.25% the top 10%.
Scores update as rates change. Institutions can correct a rate we show; payment never changes a score.
Method
How the score works
- Each product gets a standingWe compare its CD, savings, auto loan and credit card rates with every bank and credit union in the U.S. and give each product a standing out of 100. Its best rates count the most. For loans and cards, lower rates rank higher.
- Its two best products set the scoreWe average its two strongest products. Each extra product it publishes adds 1.5 points, so sharing more rates can only help.
- Its rank puts it on the 60–99 scaleWe rank that number against every scored bank and credit union in the country to get a score from 60 to 99. The top quarter earn Top Carrot.
How Michigan Schools & Government Credit Union got its score
Its products stand at 91.0 for CDs, 77.1 for credit cards, 68.8 for auto loans and 56.5 for savings, out of 100. Its best two, CDs and credit cards, average 84.1. Publishing four products adds 3.0, for 87.1. That puts it in the top 11% nationally: a Carrot Score of 89, a Top Carrot.
The fine print: inside each product, its best rates make up 60% of its standing and all its rates the rest. Its best rates are its two best CD terms, its $10,000 and Qualified savings or money market rates, the better of its new and used auto loan rates, and its credit card purchase rate. The Qualified rate is the best $10,000 rate you can get by opening another account or meeting monthly requirements (or the standard rate, if that’s higher). Rates that need monthly activity get half credit for the extra they pay, and rates that need a combined balance count only from that balance. We subtract monthly fees and count an intro rate at what it earns over a full year. Accounts for kids, students, seniors, businesses, IRAs and health savings aren’t scored.