Overview of ELGA Credit Union
ELGA Credit Union was established in 1968 and is the 18th largest credit union operating in the state of Michigan as measured by total assets. The company has 14 branches and 250 employees.
Who Can Join ELGA Credit Union?
You are eligible to join the credit union if you fall into one of the following categories:
- You live, work, worship, volunteer, or attend school within the State of Michigan
- You are a Saginaw Valley State University student or alumni
- Members of the immediate families of any current ELGA members.
- Any legal entity that is comprised for the most part of the same general group as the membership of the credit union as outlined above.
- You make a $25.00 donation to the Salvation Army Bed and Bread Program. This credit union is one of the few credit unions that anyone can join.
- Main Office Address: 2303 S Center Rd, Burton, MI 48519-1147
- Website: http://www.elgacu.com
- Phone: (810) 715-3542
- Charter Number: 61797
- Charter Year: 1968
- Employees: 243
- ELGA Credit Union Routing Number: 272479935
- Membership Trends: The credit union has a membership base of 85,340 which is significantly larger than the average credit union operating within the state. Credit unions in Michigan each have on average 28,544 members. Over the past three years, the credit union’s total base of members has increased by 16%.
Financial Metrics (as of March 2022):
- Total Assets: $1,254 million
- Total Loans: $898 million
- Total Net Worth: $157 million
- Total Net Worth Per Member: $1,837
- Net Worth Ratio: 12.5%. Based on the NCUA guidelines, this credit union is well capitalized.
Other Credit Unions in Michigan
There are currently 208 credit unions operating in the state of Michigan and combined these credit unions have 5.8 million members. In addition to this credit union, you may also be eligible to join the following credit unions in the state: DFCUFinancial Credit Union, TBA Credit Union and Teamsters Credit Union.