The Local Credit Union

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A short history of The Local CU

Since its inception in 1949 the The Local Credit Union has been serving its members in the STERLING HEIGHT, 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 Joseph Hallman, the The Local CU has grown its membership to over 7,449 with assets of more than $96,224,210. They have a main office and 1 branch offices. Please see the credit unions website or contact them by phone at (586) 264-1212 or email them at to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in STERLING HEIGHT, MI.

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

Charter Number 63342
Address 39139 MOUND ROAD 
State Michigan 
Zip-Code 48310
Phone Number (586) 264-1212
Fax Number (586) 264-9447
Email Address:
CEO/President Joseph Hallman
Members 7,449 
Full-Time Employees 20 
Part-Time Employees
Number of Branch Offices
Total Assets 96,224,210 

Compare The Local Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Polish-american CU Troy 2889 E Maple Rd 48083 (248) 619-0440 No 1.56
Live Life CU sterling heights community federal credit union 34206 Van Dyke Ave 48312 (586) 268-3720 No 2.25
Extra CU Extra Credit Union 6611 Chicago Rd 48092 (586) 276-3000 No 3.16
Alliance Catholic CU Admin 26913 Northwestern Hwy 48033 (248) 663-4006 No 3.89
Warren Municipal CU Warren Municipal Federal Credit Union 31300 Hoover Rd 48093 (586) 268-9690 No 4.20

The Local Credit Union Financial Performance Charts

Performance Charts

Website Image

Financial Data

The Local 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 11.15 2.95 3.52 4.36 5.37
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 351 138 149 187 274
Rank Among All Michigan Credit Unions 60 36 39 51 58

The Local Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate N/A 0.17 0.26 1.47 1.47
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 114 104 94 97
Rank Among All Michigan Credit Unions N/A 13 20 13 13
The Local Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 11.1504661,085,794
All Other Unsecured Loans/Lines of Credit 12.1506012,296,048
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 2.95041911,033,927
Used Vehicle Loans 3.5201,10517,514,196
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.36016510,009,107
Total Other Real Estate Loans/Lines of Credit 5.370521,671,480
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 5.4903113,402,365
TOTAL LOANS & LEASES 3,11947,012,917

The Local 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 413,840,94000
    b. 15 Years or less 944,272,2731180,000
    a. > 15 years 2141,78800
    b. 15 Years or less 1169,45700
Other Fixed Rate 8997,3483383,000
Adjustable Rate 1 yr or less 19587,301125,000
Adjustable Rate > 1 yr 0000


Closed-End Fixed Rate 451,571,9479275,500
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 799,533262,000
Open-End Fixed Rate 0000
TOTALS 21711,680,58716925,500


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

The Local 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