Preferred Credit Union

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Review based on 12 criteria Rating: 3 out of 5

PO Box 120010, Grand Rapids, MI 49528-0010

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Preferred Credit Union was founded in 1968. Headquartered in Grand Rapids, Michigan, Preferred Credit Union is a state chartered and federally insured credit union, being chartered in Michigan and insured through the National Credit Union Share Insurance Fund (NCUSIF). Preferred Credit Union is also a member of the , which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2016, Preferred Credit Union services 24,470 members through its 6 offices and branches and 57 full-time and 9 part-time employees. It has $162,333,084 of total assets and $22,693,781 of net worth. Based on its asset size and net worth ratio, Preferred Credit Union is classified as a Well Capitalized medium large credit union.

Preferred Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Preferred Credit Union also provides an array of services to its members and local communities. Preferred Credit Union plans to extend its services by adding more branches or service centers in the next 12 month. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Preferred Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Michigan and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Michigan
Median of USA
Checking
0.0000
0.0000
0.0000
Savings
0.1500
0.1000
0.1200
Money Market
0.3200
0.2500
0.2500
Certificate Deplit
0.6000
0.6000
0.5800
IRA
0.8000
0.5000
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Michigan
National Median Rates
Credit Cards
7.9900
9.9600
9.9900
Unsecured Line of Credits
11.2500
11.0000
10.9500
Short-term Small Amount
n/a
18.0000
25.0000
Student Loans
n/a
6.2300
6.0200
New Car Loans
2.2900
2.9900
3.3300
Used Car Loans
6.0000
3.9900
4.5000
1st Mortgage Real Estates
3.4000
4.2500
4.2500
Other Real Estates
5.0000
4.5000
4.7000

Preferred Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, ATMs, and mobile devices. The table below lists the electronic banking services prlided by Preferred Credit Union.

Electronic Banking Service Offerings

Membership Application
Yes
No
Share Account Transfers
Yes
New Loan Application
Yes
Share Draft Orders
Yes
No
New Share Account
No
Bill Payment
Yes
Yes
e-Statements
Yes
Loan Payments
Yes
No
Account Balance Inquiry
Yes
No
No
View Account History
Yes
No

.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
No
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
No
Student Scholarships
No
Insurance/Investment Sales
Yes
First Time Homebuyer Program
No
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  1. dizhome.ru Staff
    dizhome.ru Staff

    Last Updated on May 30, 2017

    May 30, 2017 at 10:31 pm

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