Overview of Team One Credit Union

Team One Credit Union has been operating for 87 years, having first been established in the year 1935. The credit union mainly focuses on the provision of mortgages and lines of credit which represent 61% of its loans outstanding. The company has a total of 12 branches and employs a total of 188 employees.

Who Can Join?

Membership is open to anyone living, working,or who worships or attends school in the state of Michigan. Membership is also open to family members of current members.

Products and Services

The credit union offers many traditional financial accounts and services including but not limited to the following:

  • Checking – the Standard Checking account from Team One Credit Union has no minimum balance requirements and offers dividends on balances of $1,000 or higher. The account also has no per check fees and overdraft protection to qualified members. In addition to the Standard Checking account option, the credit union has e-Checking and Relationship Rewards Checking account options.
  • Savings – the credit union offers many savings products including a regular Savings Account, a Health Savings Account and Money Market Savings.
  • Credit Cards – currently there are four Visa credit cards offered by the credit union, including a Cash Back Visa, ScoreCard Visa, Platinum Visa and New Beginnings Visa. The Cash Back Visa card has no annual fee and allows cardholders to earn 1% cash back on purchases.
  • Mortgages – the credit union has fixed rate mortgages with terms ranging from 10 to 30 years and also offers loans for new home construction as well as loan products related to your home equity including home equity lines of credit.

Balance Sheet Overview

The credit union has total assets of $741 million. It has a deposit base of $666 million which works out to $13,707 of deposits per member compared with the state-wide average of $14,212 and national average of $13,804. Team One Credit Union also has net loans outstanding of $396 million. The credit union also has a loan to deposit ratio of 59% which is lower 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. Moving on to the credit union’s loan portfolio, it mainly consists of the following: mortgages and lines of credit make up 61% of the portfolio and there is a total of $243 million outstanding and auto loans comprises 20% of the loan book and there is a total of $81 million outstanding.

Contact Information

  • Main Office Address: 520 Hayden St, Saginaw, MI 48606
  • Website: http://www.teamonecu.org
  • Phone: (989) 754-6575
  • Charter Number: 62141
  • Charter Year: 1935
  • Employees: 188
  • Routing Number: 272484470
  • Membership Trends: Team One Credit Union has a membership base of 48,606 which is significantly larger than the average credit union operating in the state of Michigan. The average credit union in the state has 27,971 members. Over the past three years, the credit union’s total base of members has declined by 2%.

Team One Credit Union Financials

team one credit union-balance-sheet-metrics-12-31-21

The above chart summarizes the trends in key balance sheet items for Team One Credit Union. First off, it is noteworthy that across the board, all four items have increased over the past year. The credit union’s assets have grown by 9.4% while its total loans have fallen by 0.4%. In addition, the company’s mortgages and lines of credit have increased by 3.3% while its deposits have increased by 10.5%. 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. Team One Credit Union has a total net worth of $67 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 $1,379 which is below the national average of $1,633.

Overview of the Credit Union’s Performance Metrics

team one credit union-selected-performance-metrics-12-31-21

In the above chart we have displayed three statistics that are important in evaluating a credit union’s performance and shown how Team One Credit Union compares on these metrics, in addition to detailing how the credit union performed on each metric in the prior year. If we take a look at Team One Credit Union’s return on assets – which is usually a good measure of how efficiently a company is using its assets to produce profits – we see that the credit union is below the average comparable credit union and also that over the past year ROA has declined given the year over year change of 0.25%. The delinquency rate is a measure of what percentage of an entity’s loan book has fallen past due i.e. is delinquent. All else equal, a higher rate implies a worse performing loan portfolio. In the case of Team One Credit Union its delinquency rate is below its peers and over the past 12 months the credit union’s delinquency rate has improved. Finally, the net worth ratio for the credit union is 9.0% which is below its peer group average of 9.8%. This metric has declined on a year over year basis and stood at 9.7% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.

Conclusion

Our final rating for Team One Credit Union, after assessing the credit union on what we consider to be the important metrics, is 2.7 out of 5.0, which is above average. Finally, please note that the rating information presented is based on our proprietary scoring system. None of the work presented 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 NameWebsiteTotal Members
Lake Michiganhttp://www.lmcu.org431,725
MSUFhttp://www.msufcu.org321,315
Genisyshttp://www.genisyscu.org249,535
DFCU Financialwww.dfcufinancial.com232,424
Unitedhttps://www.unitedfcu.com190,986
Frankenmuth Credit Unionhttp://www.frankenmuthcu.org61,250
Wildfire Credit Unionhttp://www.wildfirecu.org49,780
Embers Credit Unionhttps://www.embers.org29,923
Our Credit Unionhttp://www.ourcuonline.org22,794
Gerber Federal Credit Unionhttp://gerberfcu.com16,332
Parda Federal Credit Unionhttp://www.parda.com15,305
Peninsula Federal Credit Unionhttp://peninsulafcu.com13,832
Filer Credit Unionhttp://www.filercu.com10,713
GLFFCUhttp://www.glffcu.com8,681
Aeroquip Credit Unionhttp://www.aeroquipcu.com3,946
Tri Cities Credit Unionhttp://www.tricu.org3,929
Grand Trunk Credit Unionhttp://www.grandtrunkcu.com2,730