Charter 62340 · Grand Rapids, MI
Preferred Credit Union
Preferred Credit Union is a state-chartered credit union in Grand Rapids, Michigan, with $318 million in assets and 23,275 members as of June 30, 2026, according to the call report it filed with NCUA. Its net worth ratio was 14.25%, well above the 7% that NCUA's rules treat as well capitalized.
- Total assets
- $318 million
- +3.1% in a year
- Members
- 23,275
- -1.9% in a year
- Net worth ratio
- 14.25%
- Peer median 11.65%
- Loans 60+ days late
- 0.37%
- Peer median 0.70%
- Loans outstanding
- $158 million
- -1.1% in a year
- Shares and deposits
- $271 million
- +1.8% in a year
- Branches
- 6
- 78 employees
- Opened
- 1968
- Michigan charter
How Preferred Credit Union compares
NCUA groups credit unions by size; Preferred Credit Union is in the group with $100 million to $500 million (1,061 credit unions). Its net worth ratio of 14.25% is higher than that group's median of 11.65%, and its share of loans 60 or more days past due, 0.37%, is lower than the group median of 0.70%. Loans fell 1.1% over the year to Q2 2026, against a group median of 2.9% growth.
By assets it ranks 64 of 169 credit unions headquartered in Michigan. See all Michigan credit unions.
Five quarters of figures
| Quarter | Assets | Members | Loans | Net worth ratio | 60+ days late |
|---|---|---|---|---|---|
| Q2 2026 | $318 million | 23,275 | $158 million | 14.25% | 0.37% |
| Q1 2026 | $318 million | 23,429 | $157 million | 14.00% | 0.43% |
| Q4 2025 | $308 million | 23,514 | $159 million | 14.15% | 0.44% |
| Q3 2025 | $305 million | 23,620 | $162 million | 14.03% | 0.46% |
| Q2 2025 | $309 million | 23,733 | $159 million | 13.57% | 0.45% |
Assets Members
Who can join
The field of membership is the group a credit union is allowed to serve: people who live or work in an area, employees of certain companies, members of an association, and their families. The credit union's own website has the exact rules. On its call report it estimates its field of membership at about 50,000 potential members.
Credit unions that anyone in the US can join
Locations
NCUA's branch file lists 6 sites for Preferred Credit Union. The branch count in the figures above comes from its call report, which is filed separately, so the two can differ slightly.
- Grand Rapids (main office)
3767 Sparks Dr Se, Grand Rapids, MI 49546 - Ludington
266 N Jebavy Dr, Ludington, MI 49431 - Kalamazoo
4245 S Westnedge Ave, Kalamazoo, MI 49008 - Hastings
329 N Michigan Ave, Hastings, MI 49058 - Belding
7473 Storey Rd, Belding, MI 48809 - Greenville
534 N Lafayette St, Greenville, MI 48838
About these numbers
Figures come from the NCUA 5300 Call Report quarterly data for Q2 2026 (quarter ended June 30, 2026), which each credit union files itself. "60+ days late" is delinquent loans of two months or more divided by total loans. Peer medians are computed across every credit union in the same NCUA asset-size group. NCUA call report data · Methodology