PREFERRED Credit Union Profile

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PREFERRED

Charter #62340 | NCUA Region 1 | FISCU
Low-Income Designation: No
Report Date: 2025

Headquarters Contact & Staff

Contact & Info

Phone: (800) 328-4131

Fax: (616) 942-2302

Founding Date: N/A

Website: http://www.preferredcu.org

Personnel & Operations

President: Herman, Russell

Manager: Yeomans, John

FT Employees: 71

PT Employees: 6

Designations & Ratios

MDI Status: No

RBC Ratio: 0%

Membership Type: 99

Branches: 6

Hours: 9:00 to 5:00 Monday through Friday 9:00 to

Credit Union Profile Summary

PREFERRED is a FISCU Credit Union. With a total of 23,733 members [1], this institution manages approximately $308,714,987 in total assets [1]. It does not currently hold a Low-Income Designation. Key financial indicators show a solid Net Worth Ratio of 13.57% [1] and a strong Loan-to-Share Ratio, with loan growth over the last four quarters at 6.05% [1].

Financial Snapshot

Total Assets [1]
$308,714,987

Total economic resources.

Total Loans [1]
$159,314,832

Total value of outstanding loans.

Total Deposits [1]
$265,872,319

Total funds deposited by members.

Members [1]
23,733

Number of active members.

Performance Ratios

Net Worth Ratio [1]
13.57%

This is the credit union's safety cushion; 7.0% is the regulatory minimum. A higher ratio means the credit union is stable.

Return on Assets (ROAA) [1]
1.14%

Measures profitability. Shows profit generated per dollar of assets. Near 1.0% is considered strong.

Loan-to-Share Ratio [1]
59.92%

Measures lending activity using member deposits. Below 100% is generally healthy, balancing lending and liquidity.

Four-Quarter Growth

Asset Growth (4Q) [1]
↑ 8.40%

Indicates change in total size. Positive growth means the credit union is expanding its operations.

Loan Growth (4Q) [1]
↑ 6.05%

Shows change in lending activity. Positive growth means they are actively increasing their lending business.

Member Growth (4Q) [1]
↓ -2.38%

Indicates change in member count. Positive growth is a sign of a healthy, expanding member base.

Headquarters Location & Map

Headquarters Address

3767 Sparks Dr SE

Grand Rapids, MI, 49546
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Member Ratings & Reviews

Average Member Rating:

N/A / 5.0

Total Approved Reviews:

0

Rate This Credit Union

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Branch Locations

Found 6 branches reported by PREFERRED (Charter #62340).

Main Office

Grand Rapids Main Office

Type: Corporate Office

3767 Sparks Dr SE

Grand Rapids, MI 49546

Phone: (800) 328-4131

Services: Member Services, ATM, Drive-Thru

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Additional Branches

Belding

Belding

Type: Branch Office

7473 Storey Rd

Belding, MI 48809-9360

Phone: (616) 794-2505

Services: Member Services, Drive-Thru

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Greenville

Greenville

Type: Branch Office

534 N Lafayette St

Greenville, MI 48838-1167

Phone: (616) 754-7192

Services: Member Services, Drive-Thru

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Hastings

Hastings

Type: Branch Office

329 N Michigan Ave

Hastings, MI 49058

Phone: (269) 945-8706

Services: Member Services, ATM

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Kalamazoo

Kalamazoo

Type: Branch Office

4245 S Westnedge Ave

Kalamazoo, MI 49008-3207

Phone: (269) 382-3206

Services: Member Services, ATM

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Ludington

Ludington

Type: Branch Office

266 N Jebavy Dr

Ludington, MI 49431

Phone: (231) 843-1384

Services: Member Services, ATM, Drive-Thru

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