Major Rating Factors:
Operating profits as a percentage of assets at 0.7%, coupled with a return on assets of 0.7 has resulted in Fair (3.9) profitability. A five year analysis of stability tests including evaluations of capital adequacy, asset growth, and profitability lead to an Excellent overall stability index (7.2 on a scale of 0 to 10).
Other Rating Factors:
Excellent current capitalization (10.0 on a scale of 0 to 10) based on a net capital to total assets of 21.3 and a net worth ratio of 21.3. A current level of 0.4 percent of nonperforming loans to core capital combined with 0.3 percent from a year earlier contributes to the Excellent asset quality (9.9).
Asset Mix:
Consumer loans (42%), other (58%)
Asset Quality
Non-Performing Loans to Capital
Non-Performing Assets to Assets
Non-Performing Loans to Loans
Loan Loss Reserves to Loans
Charge-Offs to Average Loans
5-Year Charge-Offs to Average Loans
5-Year Asset Growth
1-Year Asset Growth
Profitability
Operating Profit to Average Assets
Return on Equity
Net Interest Spread
5-Year ROAA (Return on Average Assets)
Overhead Efficiency Ratio
Corporate Info
Address
809 East Tinkham Avenue
Ludington, MI 49431
Ludington, MI 49431
Phone Number
(231) 843-4066
NCUA Charter Number
Largest Competitors
Caledonia, MI
East Lansing, MI
Dearborn, MI
Auburn Hills, MI
Ludington, MI