Overview of Peninsula Federal Credit Union

Peninsula Federal Credit Union officially got its credit union charter in the year 1941. The credit union falls under the category: community credit unions, urban or rural (not low-income). In terms of its lending activity, the credit union is mainly engaged in providing mortgages and lines of credit. These loans represent 58% of its total lending. Peninsula Federal Credit Union’s total assets are larger than 78% of credit unions in the United States. Unlike banks, credit unions like Peninsula Federal Credit Union are not insured by the Federal Deposit Insurance Corporation (FDIC) but instead receive deposit insurance from the National Credit Union Administration (NCUA), which operates in a similar fashion to the FDIC. The company has a total of 3 branches and employs a total of 70 employees.

Overview of the Credit Union’s Assets and Liabilities

Some of the key components of the credit union’s balance sheet are total assets of $248 million, total loans extended to customers of $224 million and customer deposits of $208 million. The credit union also has a loan to deposit ratio of 93% which is higher than the average credit union of similar size. The loan to deposit ratio is a good way to assess how liquid a bank or credit union’s balance sheet is. Taking a closer look at the credit union’s loan portfolio, we see that mortgages and lines of credit represent 58% of the total and currently stands at $120 million, while there is $52 million of loans outstanding from auto loans which represents 25% of the credit union’s loan portfolio.

Contact and Other Helpful Information

  • Main Office Address: 2929 3Rd Ave N, Escanaba, MI 49829-4203
  • Website: http://peninsulafcu.com
  • Phone: (906) 789-6400
  • Charter Number: 4291
  • Charter Year: 1941
  • Employees: 70
  • Routing Number: 291172637
  • Membership: Peninsula Federal Credit Union has a membership base of 13,727 which is significantly smaller than the average credit union operating in the state of Michigan. The average credit union in the state has 27,640 members. Over the past three years, the credit union’s total base of members has increased by 15%.

Peninsula Federal Credit Union: Financial Overview

peninsula federal credit union-balance-sheet-metrics As shown in the above chart, Peninsula Federal Credit Union’s assets have expanded by 13.6% over the past year, while its mortgages and lines of credit – which is its largest category of lending – have expanded by 17.5% over the past year. Furthermore, the company’s deposits have grown by 23.8% while its total loans have increased by 13.9%. We like to look at a credit union’s net worth to get a sense of the performance of the entity over the years for its members. Peninsula Federal Credit Union has a total net worth of $23 million while the average credit union in the United States has a net worth of $41 million. This implies that the credit union has a net worth per member of $1,681 which is greater than the national average of $1,606.

Overview of the Credit Union’s Performance Metrics

peninsula federal credit union-selected-performance-metrics The above chart shows some of the important metrics we look at when assessing a credit union, and compares these to the average credit union of comparable size. It also shows how these metrics have fared over the past year. Beginning with Peninsula Federal Credit Union’s return on assets (aka ROA), on this statistic the credit union performs well above the average comparable credit union. When we look at the year over year trends, we can see that ROA has improved substantially given the 0.59% change. A credit union’s ROA is a good way of assessing how well the entity is using its assets to generate returns. We look at the delinquency rate within a loan portfolio as a way to assess the performance and quality of a credit union’s loan book. A lower delinquency rate indicates a better performing portfolio. Peninsula Federal Credit Union has a delinquency rate that is above its peer group average and when compared with the prior year, we can see that it has improved. Finally, the net worth ratio for the credit union is 9.3% which is below its peer group average of 9.7%. This metric has been relatively stable on a year over year basis and stood at 9.5% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.


After factoring in all the relevant information and data, our final rating for Peninsula Federal Credit Union is 3.3 out of 5.0, which is above average. As a final note, please remember that our rating is the product of a proprietary scoring methodology which uses nationwide data for credit unions and our survey work. Importantly, none of the work presented herein is intended to be investment advice or advice of any sort and is presented purely for informational purposes.

Other Credit Unions in Michigan

Credit Union Name Website Total Members
Lake Michigan http://www.lmcu.org 431,725
MSUF http://www.msufcu.org 321,315
Genisys http://www.genisyscu.org 249,535
DFCU Financial www.dfcufinancial.com 232,424
United https://www.unitedfcu.com 190,986
Frankenmuth Credit Union http://www.frankenmuthcu.org 61,250
Wildfire Credit Union http://www.wildfirecu.org 49,780
Embers Credit Union https://www.embers.org 29,923
Our Credit Union http://www.ourcuonline.org 22,794
Gerber Federal Credit Union http://gerberfcu.com 16,332
Parda Federal Credit Union http://www.parda.com 15,305
Filer Credit Union http://www.filercu.com 10,713
GLFFCU http://www.glffcu.com 8,681
Aeroquip Credit Union http://www.aeroquipcu.com 3,946
Michigan Coastal Credit Union http://www.michigancoastal.com 2,944
Grand Trunk Credit Union http://www.grandtrunkcu.com 2,730