MICHIGAN FIRST

Charter #60522 | MI

1B-3B (304 CUs) Mid-Market (380 CUs)
19 1B-3B in MI

MICHIGAN FIRST has 9 strengths but faces 12 concerns

Key Strengths

Areas where this CU excels compared to peers

  • + Emerging Performer: Top 20.6% in tier
  • + Wallet Share Momentum: Top 33.9% in tier
  • + Relationship Depth Leader: Top 36.4% in tier
  • + ROA 0.10% above tier average
  • + Net Interest Margin 1.04% above tier average
  • + Share Certificate Concentration (%): Top 3.6% in tier
  • + Net Worth Ratio: Top 5.6% in tier
  • + Fee Income Per Member: Top 5.9% in tier
  • + Total Members: Top 7.6% in tier

Key Concerns

Areas that may need attention

  • - Credit Quality Pressure: Bottom 15.6% in tier
  • - Margin Compression: Bottom 15.8% in tier
  • - Liquidity Strain: Bottom 16.2% in tier
  • - Liquidity Overhang: Bottom 17.8% in tier
  • - Efficiency Drag: Bottom 20.4% in tier
  • - Growth-at-Risk: Bottom 25.4% in tier
  • - Stagnation Risk: Bottom 30.5% in tier
  • - Membership Headwinds: Bottom 35.2% in tier
  • - Efficiency ratio 6.59% above tier (higher cost structure)
  • - Delinquency rate 0.29% above tier average
  • - Average Member Relationship (AMR): Bottom 0.7% in tier
  • - Loan-to-Member Ratio (LMR): Bottom 1.6% in tier

Core Metrics

As of 2025-Q3

Metric Current vs Tier Tier Avg State Avg (MI) National Avg Tier Percentile
Members 164,201
-0.5% YoY-0.1% QoQ
 +65.5K 98,678
-1.9% YoY
 35,456
+8.6% YoY
 33,089
+6.1% YoY
 Top 7.9% in tier
Assets $1.5B
-0.4% YoY-4.3% QoQ
 $-269.1M $1.7B
+0.5% YoY
 $650.8M
+12.6% YoY
 $547.7M
+7.8% YoY
 44th in tier
Loans $1.1B
+1.1% YoY+0.4% QoQ
 $-173.5M $1.2B
+0.5% YoY
 $461.6M
+14.9% YoY
 $388.7M
+8.6% YoY
 46th in tier
Deposits $1.0B
-0.1% YoY-4.6% QoQ
 $-407.3M $1.5B
+1.3% YoY
 $550.3M
+12.5% YoY
 $464.6M
+9.3% YoY
 Bottom 23.7% in tier
ROA 0.8%
-32.7% YoY+14.2% QoQ
 +0.1% 0.7%
+13.4% YoY
 0.8%
-27.1% YoY
 0.7%
+273.4% YoY
 63rd in tier
NIM 4.3%
+5.2% YoY+3.5% QoQ
 +1.0% 3.3%
+9.3% YoY
 3.7%
+8.5% YoY
 3.7%
+5.0% YoY
 Top 5.3% in tier
Efficiency Ratio 80.6%
+7.0% YoY-1.0% QoQ
 +6.6% 74.0%
-10.9% YoY
 76.1%
-1.3% YoY
 79.1%
-3.3% YoY
 Top 23.0% in tier
Delinquency Rate 1.1%
+11.1% YoY+10.6% QoQ
 +0.3 0.8%
+6.1% YoY
 0.9%
-19.7% YoY
 1.2%
-0.9% YoY
 Top 19.7% in tier
Loan To Share 101.2%
+1.2% YoY+5.2% QoQ
 +16.0% 85.2%
-0.8% YoY
 68.1%
+0.3% YoY
 68.0%
-1.7% YoY
 Top 13.2% in tier
AMR $12,829
+1.0% YoY-2.0% QoQ
 $-16K $29,172
+2.8% YoY
 $22,054
+2.5% YoY
 $19,418
+1.3% YoY
 Bottom 0.3% in tier
CD Concentration 11.9%
+14.7% YoY+5.0% QoQ
 -17.1% 29.0%
+0.8% YoY
 18.6%
+6.0% YoY
 19.6%
+6.2% YoY
 Bottom 3.4% in tier
Indirect Auto % 5.4%
+7.8% YoY-0.6% QoQ
 -13.4% 18.8%
-2.8% YoY
 11.9%
-2.7% YoY
 7.9%
-2.9% YoY
 26th in tier

Signature Analysis

Strengths (3)

Emerging Performer

growth
#110 of 184 • Top 20.6% in tier

Profitable credit union with positive returns. May represent growth potential worth exploring.

Why This Signature
Return on Assets: 0.80%
(Tier: 0.71%, National: 0.71%)
better than tier avg
Member Growth (YoY): -0.51%
(Tier: 3.18%, National: 9.37%)
but worse than tier avg
184 of 380 Mid-Market CUs have this signature | 852 nationally
↑ Growing +18 CUs YoY | Rank worsening

Wallet Share Momentum

growth
#246 of 264 • Top 33.9% in tier

Average member relationship growing year-over-year. Members are deepening their engagement.

Why This Signature
AMR Growth (YoY): 1.04%
(Tier: 3.04%, National: 4.19%)
but worse than tier avg
264 of 380 Mid-Market CUs have this signature | 1330 nationally
↑ Growing +60 CUs YoY | Rank worsening

Relationship Depth Leader

growth
#264 of 264 • Top 36.4% in tier

Average member relationship growing year-over-year. Increasing engagement suggests members are consolidating more business here.

Why This Signature
AMR Growth (YoY): 1.04%
(Tier: 3.04%, National: 4.19%)
but worse than tier avg
Share Draft per Member: $1.5K
(Tier: $3.1K, National: $2.0K)
but worse than tier avg
264 of 380 Mid-Market CUs have this signature | 1330 nationally
↑ Growing +60 CUs YoY | Rank worsening

Concerns (8)

Credit Quality Pressure

risk
#120 of 217 • Bottom 15.6% in tier

Delinquencies are rising year-over-year. Credit risk is building - they may need better underwriting tools.

Why This Signature
Delinquency Change (YoY): 0.11% points
(Tier: 0.07% points, National: 0.07% points)
worse than tier avg
217 of 380 Mid-Market CUs have this signature | 1002 nationally
↓ Shrinking -70 CUs YoY | Rank improving

Margin Compression

decline
#14 of 24 • Bottom 15.8% in tier

Strong profitability track record but margins eroding. Something changed - rising costs or falling yields need addressing.

Why This Signature
Return on Assets: 0.80%
(Tier: 0.71%, National: 0.71%)
but better than tier avg
ROA Change (YoY): -0.39% points
(Tier: 0.07% points, National: 0.05% points)
worse than tier avg
Total Assets: $1.45B
(Tier: $1.72B, National: $547.69M)
worse than tier avg
24 of 380 Mid-Market CUs have this signature | 169 nationally
↓ Shrinking -16 CUs YoY | Rank improving

Liquidity Strain

risk
#86 of 183 • Bottom 16.2% in tier

Loan demand outpacing deposits. They're bumping against liquidity limits - need funding solutions.

Why This Signature
Loan-to-Share Ratio: 101.20%
(Tier: 86.35%, National: 67.96%)
but better than tier avg
Loan Growth (YoY): 1.14%
(Tier: 6.14%, National: 36.38%)
worse than tier avg
183 of 380 Mid-Market CUs have this signature | 484 nationally
↑ Growing +10 CUs YoY | Rank worsening

Liquidity Overhang

risk
#58 of 113 • Bottom 17.8% in tier

Very high net worth ratio (>12%). Strong capital position may indicate opportunity to deploy capital more productively.

Why This Signature
Net Worth Ratio: 15.80%
(Tier: 11.30%, National: 14.51%)
but better than tier avg
Loan-to-Share Ratio: 101.20%
(Tier: 86.35%, National: 67.96%)
but better than tier avg
113 of 380 Mid-Market CUs have this signature | 691 nationally
↑ Growing +9 CUs YoY | Rank improving

Efficiency Drag

risk
#68 of 96 • Bottom 20.4% in tier

High efficiency ratio (>80%) indicates elevated operating costs relative to revenue. Margin improvement opportunities may exist.

Why This Signature
Efficiency Ratio: 80.57%
(Tier: 73.45%, National: 79.10%)
worse than tier avg
ROA Change (YoY): -0.39% points
(Tier: 0.07% points, National: 0.05% points)
worse than tier avg
Member Growth (YoY): -0.51%
(Tier: 3.18%, National: 9.37%)
worse than tier avg
96 of 380 Mid-Market CUs have this signature | 624 nationally
↓ Shrinking -32 CUs YoY | New qualifier

Growth-at-Risk

risk
#142 of 161 • Bottom 25.4% in tier

Loan portfolio growing while delinquencies are rising. Expansion with deteriorating credit quality needs attention.

Why This Signature
Loan Growth (YoY): 1.14%
(Tier: 6.14%, National: 36.38%)
worse than tier avg
Delinquency Change (YoY): 0.11% points
(Tier: 0.07% points, National: 0.07% points)
worse than tier avg
161 of 380 Mid-Market CUs have this signature | 646 nationally
↓ Shrinking -30 CUs YoY | New qualifier

Stagnation Risk

risk
#74 of 85 • Bottom 30.5% in tier

Membership is declining. If profitability remains stable, current success may mask future risk from a shrinking member base.

Why This Signature
Return on Assets: 0.80%
(Tier: 0.71%, National: 0.71%)
but better than tier avg
Member Growth (YoY): -0.51%
(Tier: 3.18%, National: 9.37%)
worse than tier avg
Avg Member Relationship: $12.8K
(Tier: $29.2K, National: $19.4K)
worse than tier avg
CD Concentration: 11.88%
(Tier: 28.98%, National: 19.60%)
but better than tier avg
85 of 380 Mid-Market CUs have this signature | 648 nationally
↑ Growing +6 CUs YoY | Rank worsening

Membership Headwinds

decline
#85 of 85 • Bottom 35.2% in tier

Membership declining year-over-year. They need solutions to stop the bleeding before it impacts revenue.

Why This Signature
Member Growth (YoY): -0.51%
(Tier: 3.18%, National: 9.37%)
worse than tier avg
85 of 380 Mid-Market CUs have this signature | 648 nationally
↑ Growing +6 CUs YoY | Rank worsening

Metric Rankings

See how this credit union ranks across all tracked metrics compared to peers.

Strengths: Metrics in the top 25% (75th percentile or higher) | Concerns: Metrics in the bottom 25% (25th percentile or lower)

Comparing against 304 peers in tier

Top Strengths (6 metrics)

12
Share Certificate Concentration (%)
balance_sheet
Value: 11.88%
Peer Avg: 28.53%
#12 of 304 Top 3.6% in 1B-3B tier
16
Net Interest Margin (NIM)
profitability
Value: 4.30%
Peer Avg: 3.26%
#16 of 304 Top 4.9% in 1B-3B tier
18
Net Worth Ratio
risk
Value: 15.80%
Peer Avg: 11.44%
#18 of 304 Top 5.6% in 1B-3B tier
19
Fee Income Per Member
profitability
Value: $338.50
Peer Avg: $210.52
#19 of 304 Top 5.9% in 1B-3B tier
24
Total Members
engagement
Value: 164,201
Peer Avg: 98,678
#24 of 304 Top 7.6% in 1B-3B tier
40
Loan-to-Share Ratio
balance_sheet
Value: 101.20%
Peer Avg: 85.19%
#40 of 304 Top 12.8% in 1B-3B tier

Top Weaknesses (8 metrics)

303
Average Member Relationship (AMR)
engagement
Value: $12,829
Peer Avg: $29,172
#303 of 304 Bottom 0.7% in 1B-3B tier
300
Loan-to-Member Ratio (LMR)
engagement
Value: $6,453
Peer Avg: $13,213
#300 of 304 Bottom 1.6% in 1B-3B tier
260
Net Charge-Off Rate
risk
Value: 1.01%
Peer Avg: 0.60%
#260 of 304 Bottom 14.8% in 1B-3B tier
259
Deposit Growth Rate
growth
Value: -0.08%
Peer Avg: 5.58%
#259 of 304 Bottom 15.1% in 1B-3B tier
253
Asset Growth Rate
growth
Value: -0.41%
Peer Avg: 4.83%
#253 of 304 Bottom 17.1% in 1B-3B tier
245
Total Delinquency Rate (60+ days)
risk
Value: 1.12%
Peer Avg: 0.83%
#245 of 304 Bottom 19.7% in 1B-3B tier
235
Efficiency Ratio
profitability
Value: 80.57%
Peer Avg: 73.97%
#235 of 304 Bottom 23.0% in 1B-3B tier
232
Total Deposits
balance_sheet
Value: $1.05B
Peer Avg: $1.45B
#232 of 304 Bottom 24.0% in 1B-3B tier