Construction Federal Credit Union

Rated star_ratedstar_ratedstar_rated_halfstar_normalstar_normal by Credit Guide
Review based on 12 criteria Rating: 2.5 out of 5

30400 Telegraph Rd Ste 122, Bingham, Bingham Farms, MI 48025

Website

(248) 358-4140

Data Source: NCUA, December 31, 2016


Construction Federal Credit Union was founded in 1974. Headquartered in Bingham Farms, Michigan, Construction Federal Credit Union is a federally chartered and federally insured credit union, operating within the regulation of the National Credit Union Association (NCUA) and being insured through the National Credit Union Share Insurance Fund (NCUSIF). Construction Federal Credit Union is also a member of the Federal Home Loan Bank (FHLB), which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2016, Construction Federal Credit Union services 2,060 members through its 4 full-time employees. It has $20,855,993 of total assets and $3,230,391 of net worth. Based on its asset size and net worth ratio, Construction Federal Credit Union is classified as a Well Capitalized medium small credit union.

Construction Federal Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Construction Federal Credit Union also provides an array of services to its members and local communities. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Construction Federal Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Michigan and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Michigan
Median of USA
Checking
0.1000
0.0000
0.0000
Savings
0.2500
0.1000
0.1200
Money Market
0.0000
0.2500
0.2500
Certificate Deplit
0.5000
0.6000
0.5800
IRA
0.8500
0.5000
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Michigan
National Median Rates
Credit Cards
7.6000
9.9600
9.9900
Unsecured Line of Credits
12.0000
11.0000
10.9500
Short-term Small Amount
n/a
18.0000
25.0000
Student Loans
n/a
6.2300
6.0200
New Car Loans
4.5000
2.9900
3.3300
Used Car Loans
4.5000
3.9900
4.5000
1st Mortgage Real Estates
4.2500
4.2500
4.2500
Other Real Estates
4.2500
4.5000
4.7000

Construction Federal Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, and ATMs. The table below lists the electronic banking services prlided by Construction Federal Credit Union.

Electronic Banking Service Offerings

Membership Application
No
No
Share Account Transfers
Yes
New Loan Application
No
Share Draft Orders
Yes
No
New Share Account
No
Bill Payment
Yes
No
e-Statements
No
Loan Payments
Yes
No
Account Balance Inquiry
Yes
No
No
View Account History
Yes
No

As a community financial institution, Construction Federal Credit Union actively involves in local communities by prliding services such as first tim home buyer programs.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
No
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
No
Student Scholarships
Yes
Insurance/Investment Sales
No
First Time Homebuyer Program
No
Main Office
30400 Telegraph Rd Ste 122 Bingham Office Park
Bingham Farms, MI 48025
Phone:248-358-4140

(248) 358-2452

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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