What are the current interest rates at Michigan Educational Credit Union?

Current rates for Michigan Educational Credit Union include: 18-Month CD: 2.90%, 24-Month CD: 3.00%, 60-Month CD: 3.50%, Savings: 0.20%

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Michigan Educational Credit Union

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Michigan Educational Credit Union Rates & Review August 2026

Q: Are credit management and repair services offered?

While formal credit repair services are not currently listed, Michigan Educational Credit Union provides members with tools to manage their accounts and build a solid financial history.

Content reviewed by

Brian McKay

| Editorial Disclosure | ✓Fact Checked | Rates Last Updated and Verified: August 28, 2026

Michigan Educational Credit Union's IRA CD 182 Days rates are at 3.60%, 182 Days CD rates are at 3.60%, IRA CD 60 month rates are at 3.50%, 60 month CD rates are at 3.50%, IRA CD 48 month rates are at 3.40%. Michigan Educational Credit Union's savings rates are at 0.20%. Michigan Educational Credit Union's Personal Loan Rates are at 5.49%. MonitorBankRates evaluates the financial stability of Michigan Educational Credit Union with a 5.0 Star Rating, an A+ Overall Health Grade, and a Texas Ratio of 1.12%. Rates last updated and verified on 08/28/2026.

Michigan Educational Credit Union money market rates, and other rates, are continually updated to reflect market conditions. We recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at Michigan Educational Credit Union? Share your experience about Michigan Educational Credit Union by leaving a review below, or read customer reviews before you decide to use Michigan Educational Credit Union.

Overall Health & Safety Grade

A+

Exceptional Health Score: 99/100

MonitorBankRates Rating

5.0

Exceptional Out of 5.0 Stars

Texas Ratio

1.12%

Excellent Lower than avg

Michigan Educational Credit Union
Michigan Educational Credit Union

9200 N Haggerty Rd
Plymouth, MI 48170 4633

https://for-cu.com/

Michigan Educational Credit Union CD Rates

Product	Rate	APY	Term
IRA Share Certificate 182 Days	-	3.60%	182 Days
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 1 to 2.5 years Share Certificate - 6 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
182 Days Share Certificate	-	3.60%	182 Days
Min Balance $2,500 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 60 month	-	3.50%	60 Months
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 3-5 years Share Certificate - 9 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
60 month Share Certificate	-	3.50%	60 Months
Min Balance $5,000 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 48 month	-	3.40%	48 Months
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 3-5 years Share Certificate - 9 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
48 month Share Certificate	-	3.40%	48 Months
Min Balance $5,000 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 365 Days	-	3.35%	365 Days
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 3-5 years Share Certificate - 9 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
365 Days Share Certificate	-	3.35%	365 Days
Min Balance $2,500 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 36 month	-	3.30%	36 Months
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 3-5 years Share Certificate - 9 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
36 month Share Certificate	-	3.30%	36 Months
Min Balance $5,000 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 30 month	-	3.10%	30 Months
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 3-5 years Share Certificate - 9 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
30 month Share Certificate	-	3.10%	30 Months
Min Balance $5,000 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 24 month	-	3.00%	24 Months
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 1 to 2.5 years Share Certificate - 6 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
24 month Share Certificate	-	3.00%	24 Months
Min Balance $5,000 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 18 month	-	2.90%	18 Months
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 1 to 2.5 years Share Certificate - 6 months of dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
18 month Share Certificate	-	2.90%	18 Months
Min Balance $5,000 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
IRA Share Certificate 91 Days	-	2.00%	91 Days
Min Balance $2,000 Details The minimum required amount for an IRA Share Certificate is $2,000 with additional increments of $500. A penalty will be imposed for early withdrawal. 3 months and 6 months Share Certificate - all dividends accrued penalty. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
91 Days Share Certificate	-	2.00%	91 Days
Min Balance $2,500 Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%

Michigan Educational Credit Union Savings Rates

Product	Rate	APY
Christmas Club	-	0.20%
Min Balance $5 Details Rates may change at any time. Fees, which could be assessed for other services available through the credit union, could reduce the earnings on these accounts. Rates are subject to change at any time. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Regular Share Savings	-	0.20%
Min Balance $5 Details Rates may change at any time. Fees, which could be assessed for other services available through the credit union, could reduce the earnings on these accounts. Rates are subject to change at any time. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Vacation Club	-	0.20%
Min Balance $5 Details Rates may change at any time. Fees, which could be assessed for other services available through the credit union, could reduce the earnings on these accounts. Rates are subject to change at any time. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%

Michigan Educational Credit Union Checking Rates

Product	Rate	APY	View More
Share Draft/Checking	-	0.02%
No additional details. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%

Michigan Educational Credit Union Home Equity & HELOC

Product	Rate	Points	APR	Term
Variable Rate Home Equity Loans	-	-	6.00%
Details Rates effective 08/01/2026. As low as. Maximum Line of Credit amount $200,000. The annual percentage rate can change quarterly. The maximum ANNUAL PERCENTAGE RATE that can apply is 18.00%. The ANNUAL PERCENTAGE RATE will never increase more than two (2) percent points in one year. Under no circumstances will the rate ever be less than 4.50% per annum. Index based off of prime. Margins are -0.25% for loan amounts $49,999.99 or less and -0.75% for $50,000 to $200,000. Properties only located in the State of Michigan. Property insurance is required. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Fixed Rate Home Equity Loans	-	-	6.50%	60 Months
Details APR* (90% Loan to Value) Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Variable Rate Home Equity Loans	-	-	6.50%
Details Rates effective 08/01/2026. As low as. Maximum Line of Credit amount $200,000. The annual percentage rate can change quarterly. The maximum ANNUAL PERCENTAGE RATE that can apply is 18.00%. The ANNUAL PERCENTAGE RATE will never increase more than two (2) percent points in one year. Under no circumstances will the rate ever be less than 4.50% per annum. Index based off of prime. Margins are -0.25% for loan amounts $49,999.99 or less and -0.75% for $50,000 to $200,000. Properties only located in the State of Michigan. Property insurance is required. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Fixed Rate Home Equity Loans	-	-	7.00%	120 Months
Details APR* (90% Loan to Value) Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Fixed Rate Home Equity Loans	-	-	7.50%	180 Months**
Details APR* (90% Loan to Value) Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Fixed Rate Home Equity Loans	-	-	8.75%	60 Months
Details As Low As; Rates includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Fixed Rate Home Equity Loans	-	-	9.25%	84 Months
Details Rates includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Fixed Rate Home Equity Loans	-	-	9.75%	108 Months
Details Rates includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Fixed Rate Home Equity Loans	-	-	10.95%	Up to 60 Months
Details As Low As; Rate includes a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice. Loan approval subject to credit worthiness and analysis. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%

Michigan Educational Credit Union Auto Loan Rates

Product	Rate	Points	APR	Term
2000 Automobiles (100% Financed)	-	-	4.49%	Up to 36 Months
Details As Low As; Rate includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
2000 Automobiles (100% Financed)	-	-	4.74%	48 Months
Details Rate includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
2000 Automobiles (100% Financed)	-	-	4.99%	60 Months
Details Rate includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
2000 Automobiles (100% Financed)	-	-	5.24%	72 Months
Details Rate includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
2000 Automobiles (100% Financed)	-	-	5.49%	84 Months
Details Rate includes a .25% discount for direct deposit and may vary based on credit history. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%

Michigan Educational Credit Union Credit Card Rates

Product	Rate	APR
Mastercard	-	9.95%
Details Annual Percentage Rate. Please call the Credit Union for the most current rates. Rates are subject to change at any time without notice. Loan approval and credit line subject to credit worthiness and analysis. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Platinum Mastercard	-	14.74%
Details Minimum payment of 3% of the unpaid balance or $25 whichever is greater. Late payments will result in a fee of up to $25. Please call the Credit Union for the most current rates. Rates are subject to change at any time without notice. Foreign Transaction Fee: 1% of the converted U.S. dollar amount. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
World Rewards Mastercard	-	16.74%
Details Minimum payment of 3% of the unpaid balance or $25 whichever is greater. Late payments will result in a fee of up to $25. Please call the Credit Union for the most current rates. Rates are subject to change at any time without notice. Foreign Transaction Fee: 1% of the converted U.S. dollar amount. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%

Michigan Educational Credit Union Personal Loan Rates

Product	Rate	APR
New and Used Motorcycles, Snowmobiles, Personal Watercraft Loan	-	5.49%
Details As Low As; Payment example: $10,000 loan with a 72 month term at 5.74% APR would be $164.50/month. Rates include a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
New and Used Motorcycles, Snowmobiles, Personal Watercraft Loan	-	5.74%
Details As Low As; Payment example: $10,000 loan with a 72 month term at 5.74% APR would be $164.50/month. Rates include a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
New and Used Motorcycles, Snowmobiles, Personal Watercraft Loan	-	5.99%
Details As Low As; Payment example: $10,000 loan with a 72 month term at 5.74% APR would be $164.50/month. Rates include a .25% discount for direct deposit and may vary based on credit history. Please call the Credit Union for the most current rates and more details. Rates are subject to change at any time without notice. Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%
Personal Installment Loan	-	10.95%
Details As Low As; Personal Installment Loan Last Updated 08/28/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 1.12%

Important: Rates, terms, and conditions are subject to change without notice. The rates displayed are for information purposes only. Please confirm all rates and terms directly with the financial institution. We strive to keep this information accurate but cannot guarantee it.
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Methodology & Data Sources

MonitorBankRates Star Rating

Our rating for Michigan Educational Credit Union is derived from comprehensive financial data published quarterly by the NCUA. Our proprietary rating system evaluates financial stability (including the Texas Ratio and capitalization) and combines it with member feedback (user reviews) to help you make informed banking decisions.

Texas Ratio

We calculate the Texas Ratio using standard industry methodology. This ratio compares the credit union's non-performing assets to its tangible common equity and loan loss reserves to assess financial health.

Rate Data Aggregation

We gather Michigan Educational Credit Union rates using proprietary online rate aggregation technology. Our systems scan constantly to provide the most recent rates available to our visitors.

Disclaimer: Interest rates are variable and subject to change without notice. While we strive for accuracy, rates can change rapidly based on market conditions. It is always advisable to check with Michigan Educational Credit Union's official website for the most current offers and terms.

Credit Union Profile & Overview

Credit Union Name Michigan Educational Credit Union

Website https://for-cu.com/

Address 9200 N Haggerty Rd, Plymouth, MI 48170 4633

Phone 734-455-9200

Fax 734-416-5256

President Alonzo Glaze

CEO Robert Sandercock

Full-Time Employees 84

Part-Time Employees 3

Branch Locations 6

ATM Locations 7

NCUA Insured ✓ Yes — Up to $250,000 per depositor

Financials

MonitorBankRates Star Rating

5.0 / 5.0 ★

Overall Health & Safety Grade

A+ (99/100)

Texas Ratio

1.12%

Return on Assets (ROA)

0.2837%

Return on Equity (ROE)

2.4189%

Non-Performing Loans Ratio (NPL)

0.30%

Total Assets

1,074,197,260

Total Amount of Shares and Deposits

952,171,994

Total Shares and Deposits < 1 Year

906,909,493

Total Shares and Deposits 1 3 Years

26,632,403

Total Shares and Deposits > 3 Years

18,630,098

Total Uninsured Member Shares and Deposits > $250K (A+A1+B+C+D+E)

43,022,697

Total Uninsured Shares and Deposits > $250K (F+J)

43,022,697

Total Insured Shares and Deposits > $250K (item 17 less item K)

909,149,297

Total Interest Expense (Sum of items 6 8)

7,766,842

Share Certificates

7,530

Number of Accounts for Share Drafts

23,392

IRA KEOGH Accounts

2,855

Number of Accounts for Regular Shares

57,362

Net Worth Classification if credit union is not new (Based upon Call Report data only See instructions)

Well Capitalized

Net Worth Classification if credit union is a new credit union

Well Capitalized

Total Cash on Deposit (Amounts Deposited in Financial Institutions)

90,554,244

Total Liabilities

961,257,570

Source: NCUA — Last Updated 09/30/2025

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Frequently Asked Questions About Michigan Educational Credit Union

How many branches does Michigan Educational Credit Union operate?

Michigan Educational Credit Union currently maintains approximately multiple branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes.

Is a member application needed to join Michigan Educational Credit Union?

Yes, to access services at Michigan Educational Credit Union, a member application is required. As a credit union, membership is based on specific eligibility criteria such as where you live, work, or your organizational affiliations.

Is there a first-time homebuyer program?

Currently, Michigan Educational Credit Union does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing.

Are credit management and repair services offered?

While formal credit repair services are not currently listed, Michigan Educational Credit Union provides members with tools to manage their accounts and build a solid financial history.

Does Michigan Educational Credit Union offer online and mobile banking?

Most modern institutions like Michigan Educational Credit Union provide digital access. This includes the ability to check balances, transfer funds, deposit checks via mobile app, and view statements online. You can usually find these services at their official website: https://for-cu.com/.