Loc Federal Credit Union

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A short history of Loc FCU

Since its inception in 1950 the Loc Federal Credit Union has been serving its members in the FARMINGTON, Michigan area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Jim Dickinson, the Loc FCU has grown its membership to over 25,343 with assets of more than $209,587,922. They have a main office and 3 branch offices. Please see the credit unions website or contact them by phone at (248) 474-2200 or email them at email@locfederal.com to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in FARMINGTON, MI.

General Information For Loc FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 6651
Address 22981 FARMINGTON RD 
State Michigan 
Zip-Code 48336
Phone Number (248) 474-2200
Fax Number (248) 473-9957
Email Address: email@locfederal.com
CEO/President Jim Dickinson
Members 25,343 
Full-Time Employees 43 
Part-Time Employees 19 
Number of Branch Offices
Total Assets 209,587,922 
Website http://locfederal.com 

Compare Loc Federal Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Chiropractic CU Chiropractic Federal Credit Union 172 E State St Ste 502 43215 (248) 478-4020 No 1.60
Michigan Columbus CU Main 30419 6 Mile Rd 30419 6 Mile Rd 48152 (734) 425-5080 No 3.51
Community Choice CU Community Choice Credit Union 25555 W Warren St 48127 (313) 563-8200 No 3.66
People Driven CU Eastside Branch 30800 Van Dyke Ave Ste 101 48093 (248) 263-4220 No 4.43
Zeal CU Zeal Credit Union 25123 Southfield Rd 48154 (800) 321-8570 No 4.52

Loc Federal Credit Union Financial Performance Charts

Performance Charts

Website Image

Financial Data

Loc Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 9.90 1.99 1.99 4.00 4.50
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 243 34 21 138 168
Rank Among All Michigan Credit Unions 38 8 5 32 31

Loc Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate N/A 0.05 0.15 0.10 0.50
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions N/A 143 124 332 227
Rank Among All Michigan Credit Unions N/A 19 28 75 48
Loc Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 9.9003,0603,301,780
All Other Unsecured Loans/Lines of Credit 11.9003,3398,948,736
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 1.9901,76811,389,053
Used Vehicle Loans 1.9904,11422,100,883
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.00033437,330,126
Total Other Real Estate Loans/Lines of Credit 4.5004878,464,666
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 3.7401,76917,285,746
TOTAL LOANS & LEASES 14,871108,820,990

Loc Federal Credit Union Real Estate Loans and Lines of Credit


No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 9711,465,11891,323,930
    b. 15 Years or less 13714,053,89591,181,950
    a. > 15 years 263,247,8943400,000
    b. 15 Years or less 738,480,374192,387,049
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 182,84500
Adjustable Rate > 1 yr 0000


Closed-End Fixed Rate 521,269,934491,000
Closed-End Adjustable Rate 1408193,750
Open-End Adjustable Rate 4317,158,703341,903,000
Open-End Fixed Rate 335,621235,000
TOTALS 82145,794,792817,415,679


Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 5104,164128,750
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Loc Federal Credit Union Member Offerings
First Time Homebuyer Program No
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards Yes
Overdraft Protection/Courtesy Pay Yes
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing Yes
Money Orders Yes
No Surcharge ATMs No
Home Banking Via Internet Website Yes