Data Source: NCUA, December 31, 2016
Torch Lake Federal Credit Union was founded in 1955. Headquartered in Laurium, Michigan, Torch Lake 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). Torch Lake 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, Torch Lake Federal Credit Union services 2,019 members through its 2 offices and branches and 3 full-time and 6 part-time employees. It has $7,483,776 of total assets and $693,425 of net worth. Based on its asset size and net worth ratio, Torch Lake Federal Credit Union is classified as a Well Capitalized small credit union.
Torch Lake 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. Torch Lake 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 Torch Lake 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 (%)
Major Loan Accounts and Interest Rates (%)
Torch Lake 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 and ATMs. The table below lists the electronic banking services prlided by Torch Lake Federal Credit Union.
Electronic Banking Service Offerings
As a community financial institution, Torch Lake Federal Credit Union actively involves in local communities by prliding services such as financial education.
Community and other Service Offerings
2091 Springdale Rd
Cherry Hill, NJ 08003
680 E Swedesford Rd
Wayne, PA 19087-1605
Torch Lake Federal Credit Union
400 Hecla St
Laurium, MI 49913