B
Michigan Educational Credit Union
Rating Date
May 2024
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Major Rating Factors: A current level of 1.3 percent of nonperforming loans to core capital combined with 1.4 percent from a year earlier contributes to the Excellent asset quality (10.0). A five year analysis of stability tests including evaluations of capital adequacy, asset growth, and profitability lead to a Good overall stability index (6.3 on a scale of 0 to 10).
Other Rating Factors: Good current capitalization (6.0 on a scale of 0 to 10) based on a net capital to total assets of 8.4 and a net worth ratio of 11.9. Fair liquidity 4.0, driven by a liquidity ratio of 16.7 percent and a “hot money” ratio of 5.6 percent.
Asset Mix: Consumer loans (21%), home mtgs (21%), other (58%)
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Corporate Info
Address
9200 North Haggerty Road
Plymouth, MI 48170
Phone Number
(734) 455-9200
NCUA Charter Number
Largest Competitors