Credit union · NCUA insured
Preferred Credit Union
A $317.9M credit union headquartered in Grand Rapids, MI, with 23,429 members and 6 branches in Michigan. Best rates: CDs 3.40% and savings 0.55% APY.
Preferred Credit Union Carrot Score
76
Carrot Score
Higher than 40% of U.S. banks and credit unions
#30 of 49 in Grand Rapids, MI metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Preferred Credit Union
Preferred Credit Union was organized by the Michigan Credit Union League in September 1968 to serve small employer groups and individuals without credit union access.
Originally serving Grand Rapids, the credit union expanded to Kalamazoo, Ludington, Hastings, Greenville, and Belding.
- Headquarters
- 3767 Sparks Dr SE, Grand Rapids, MI 49546
- NCUA charter
- 62340
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This may be incomplete or out of date, so check with the credit union before you apply.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
- Individuals who live, work, attend school, or worship in specified Michigan counties are eligible for membership.
Employers and groups
- Employees or members of employer groups located within 25 miles of any branch office are eligible for membership.
Family and household
- Individuals who have a verifiable direct relation to an existing member are eligible for membership.
Other ways
- Individuals receiving retirement payments who live in or belong to a retirement organization in the county (or contiguous county) where the principal place of business is located are eligible.
Branches
6 branches in Michigan
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Michigan
6 branches
Grand Rapids area · 4
- Grand RapidsMain office3767 Sparks Dr SE, Grand Rapids, MI 49546Directions
- Belding7473 Storey Rd, Belding, MI 48809Directions
- Greenville534 N Lafayette St, Greenville, MI 48838Directions
- Hastings329 N Michigan Ave, Hastings, MI 49058Directions
Kalamazoo area · 1
- Kalamazoo4245 S Westnedge Ave, Kalamazoo, MI 49008Directions
Ludington area · 1
- Ludington266 N Jebavy Dr, Ludington, MI 49431Directions
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 | 14.25% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 0.37% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 1.13% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $58 | $76 | — |
- CapitalNet worth ratio14.25%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late0.37%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets1.13%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$58Peers’ 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 Preferred Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.