Michigan First Credit Union Offers Peace of Mind with $500,000 Coverage!
At Michigan First, we go the extra mile for our members by making sure your money is protected. Deposits at Michigan First Credit Union are federally insured up to $250,000 by the National Credit Union Administration (NCUA). To further protect your deposits, Michigan First provides additional coverage through Excess Share Insurance (ESI), creating a combination of federal and private share deposit insurance that protects your deposits for a total of $500,000 — including savings accounts, checking accounts, money market accounts, and certificate accounts.
This combination of NCUA and ESI coverage ensures that:
- All individual savings, checking and certificate accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI.
- All joint accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI.
- All IRA accounts held by the same person are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI.
Both ESI and NCUA offer coverage payable upon failure and liquidation of the credit union. In order to continue providing the expanded protection, Michigan First adheres to strict underwriting criteria and reports monthly to ESI. If you have questions regarding this valuable member benefit, please call 800.664.3828.
Capitalize on a stronger economy.
Your savings rate adjusts with market conditions.
Deposit funds throughout the year
Interest rate varies with economic conditions
Interest rate varies with economic conditions
Choose an IRA with greater potential
While you're saving for retirement, you can take advantage of improving market conditions with the Variable IRA. Enjoy low fees, tax advantages, solid investment options and the potential to live out your dream retirement.
- Make periodic deposits throughout the year (up to $6,000 per year, or $7,000 if over age 50)
- Interest rate determined by the state of the economy; a stronger economy means higher returns
Michigan First is a full-service credit union with branches that are easily accessible around Metro Detroit, Grand Rapids and mid-Michigan.
Variable IRA Rates
| APY1 | Dividend Rate | Daily Balance |
|---|---|---|
| 0.20% | 0.20% | $1 to $2,499 |
| 0.20% | 0.20% | $2,500 – $9,999 |
| 0.35% | 0.35% | $10,000 – $24,999 |
| 0.40% | 0.40% | $25,000 and up |
1APY = Annual Percentage Yield. Minimum balances listed is to open an account and to earn the advertised APY. All rates and APYs are accurate as of today, and subject to change at any time. Fees may reduce earnings on accounts. A penalty will be imposed for early withdrawal from Certificate Accounts. For current dividends, please contact us.
Disclaimers:
Advisory Services offered through Capital Asset Advisory Services (CAAS), a Registered Investment Advisor. The investment and insurance products recommended, offered or sold through Capital Asset Advisory Services and its representatives:
- Are not Credit Union shares or deposits,
- Are not federally-insured by the National Credit Union Share Insurance Fund,
- Are not obligations of or guaranteed by the Credit Union,
- Involve investment risks, including possible loss of principal.
Capital Asset Advisory Services is not affiliated with Michigan First Credit Union or Michigan First Wealth Management Group.
