Michigan Coastal Credit Union

What Michigan Coastal Credit Union does

Michigan Coastal Credit Union is a state-chartered, member-owned financial cooperative founded in 1958 and headquartered in Muskegon County, Michigan. The institution operates a single physical branch and restricts membership to individuals who live, work, or worship in Muskegon County, functioning as a classic community-charter credit union rather than a regional or national player. Its core technology is a traditional credit union banking platform augmented by digital channels: a mobile banking app on iOS and Android, an online banking portal, audio response telephone banking, LoanPay XPRESS for online loan payments, and loan origination through the third-party itsme247 platform. Member deposits are federally insured to $250,000 by the National Credit Union Administration (NCUA), and the institution is registered under NMLS #812035 with routing number 272483277.

The product portfolio centers on deposit accounts (Regular Shares savings, Money Market accounts tiered from 0.75% to 1.65% APY, a High Interest Checking account offering 7% APY on balances up to $5,000 with activity requirements, youth accounts, and Certificates of Deposit with terms from 6 to 60 months at 3.40%-3.55% APY) and consumer lending (auto loans starting at 7.00% APR, used vehicle and motorcycle loans from 9.00% APR, new and used boat/RV loans, home loans, Visa credit cards at 11.49% APR with no annual fee, signature loans, revolving loans, and consumer secured loans). Ancillary services include the Route 66 Extended Warranty vehicle product, free notary service, money orders, financial calculators, a financial resource center, a Switch Kit for new member onboarding, and the Love My Credit Union Rewards discount program (TurboTax, TracFone wireless, IdentityIQ monitoring).

Revenue is generated primarily through net interest income on the loan portfolio and member deposits, with no public revenue disclosure. Distribution relies on the single Muskegon County branch, an extended physical footprint via the Xtend Shared Branching Network across 75 Michigan credit unions, the CO-OP ATM network providing access to 30,000 surcharge-free ATMs nationwide, and digital channels including the mobile app and online banking. The institution partners with four local auto dealerships (Clear Choice Auto Sales, Great Lakes Ford, Johnson Auto Sales, Preferred Chrysler Dodge Jeep) for in-dealership loan originations and runs a Refer a Friend member acquisition program. The credit union employs 11-50 staff, has no parent company, no subsidiaries, no disclosed funding rounds, and no M&A activity in the source material.

Name

Michigan Coastal Credit Union

Legal name

Michigan Coastal Credit Union

Website

https://michigancoastal.com

Company type

Private

Founded year

1958

Operating status

Operating

Headcount range

11–50 employees

Short description

Michigan Coastal Credit Union is a member-owned, state-chartered credit union founded in 1958, serving individuals who live, work, or worship in Muskegon County, Michigan with deposit accounts, consumer loans, and digital banking via a single local branch and shared-branching partnerships.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Deposit account products
• Digital banking access

Headquarters

HQ city

Muskegon

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Loans: Revenue generated from interest on various loan products including auto loans, home loans, recreational vehicles, and credit cards
2. Membership Fees: Fees associated with membership accounts including share accounts and checking accounts
3. Deposit Interest: Interest earned on member deposits including savings, money market accounts, and certificates of deposit

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Michigan Coastal Credit Union is a member-owned credit union founded in 1958 that provides consumer banking services to individuals who live, work, or worship in Muskegon County, Michigan. Its core offerings include deposit products (savings programs, youth accounts, checking accounts, high interest checking at 7% APY, money market accounts, and certificates of deposit) and consumer loan products (auto loans, recreational vehicle loans, home loans, Visa credit cards, signature/revolving/secured loans). Digital access is provided through a mobile banking app, online banking platform, LoanPay XPRESS, and audio response telephone banking, with extended reach through 30,000+ surcharge-free ATMs via the CO-OP network and shared branching at 75 Michigan credit unions.

Product overview

Michigan Coastal Credit Union is a member-owned financial institution offering a comprehensive range of banking products and services. The credit union operates a single office in Muskegon County, Michigan, while providing extensive digital banking capabilities through mobile and online platforms. The product portfolio centers on deposit accounts (savings programs including Youth Accounts, Checking Accounts, High Interest Checking, and Money Market accounts) and lending products (Auto Loans, Home Loans, Recreational Vehicle Loans, Visa Credit Cards, and Additional Loans). Digital banking services include Mobile Banking and Online Banking apps, complemented by convenience features such as LoanPay XPRESS and Audio Response Banking. The credit union enhances member value through its Love My Credit Union Rewards program, providing discounts on tax preparation, wireless services, and identity protection. Accessibility is expanded through partnerships with the CO-OP ATM Network (30,000+ surcharge-free ATMs) and the Xtend Shared Branching Network (75 credit unions in Michigan).

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Programs Various savings account options for members including regular shares, money market accounts, Christmas club, and vacation club accounts with competitive APY rates. Targeted at Muskegon County credit union members saving toward specific goals.
• Youth Accounts Savings accounts designed for children and young adults to help build a sound financial foundation. Targeted at parents and guardians establishing financial habits for kids and young adults in Muskegon County.
• Checking Accounts Checking accounts with no service charges, no per-check charges, no minimum balance requirements, and monthly statements. Includes Debit MasterCard with access to CO-OP Network ATMs. Targeted at personal banking members seeking low-fee everyday checking.
• High Interest Checking Checking account offering 7% APY on balances up to $5,000, requiring e-statements, at least 4 online banking logins per month, at least 10 signature-based debit card transactions per month, and at least 1 ACH transaction per month. Targeted at actively engaged members.
• Money Market Accounts Money market savings accounts with tiered interest rates (with tiers at $2,500+, $20,000+, $50,000+, and $75,000+ earning progressively higher APYs). Targeted at members seeking higher-yield liquid savings.
• Certificate of Deposit Products Certificate of deposit accounts with terms of 6, 12, 24, 36, 48, and 60 months, requiring a $500 minimum deposit, including a 6-month Golden CD and competitive long-term rates up to 3.55% APY. Targeted at members seeking term-based deposit yields.
• Auto Loans Vehicle financing with 100% financing options, no application fees, and competitive rates (new vehicle/motorcycle as low as 7.00% APR; used vehicle/motorcycle as low as 9.00% APR). Available through dealer partnerships with Clear Choice Auto Sales, Great Lakes Ford, Johnson Auto Sales, and Preferred Chrysler Dodge Jeep. Targeted at members purchasing new or used vehicles.
• Home Loans Residential mortgage and home loan products for members purchasing or refinancing homes. Targeted at Muskegon County members seeking primary residence financing.
• Recreational Vehicle Loans Financing options for boats, RVs, and other recreational vehicles, with rates as low as 8.00% APR for new and 9.00% APR for used. Targeted at members financing leisure vehicles.
• Visa Credit Cards Visa credit card product with a rate of 11.49% APR and no annual fee. Targeted at members seeking a no-annual-fee revolving credit product.
• Additional Loans (Signature, Revolving, Secured) Various consumer loan products including signature loans (as low as 9.00% APR), revolving loans (as low as 10.49% APR), and consumer secured loans (as low as 7.00% APR). Targeted at members with varied personal borrowing needs.
• Route 66 Extended Warranty Extended warranty coverage for vehicles. Targeted at members who finance their auto loans through the credit union.
• Mobile Banking Mobile banking application for iOS and Android enabling account access, transaction monitoring, alerts, and banking on the go. Targeted at members preferring self-service account management.
• Online Banking Internet banking platform providing account management, balance checking, transaction review, and online financial services. Targeted at members accessing accounts via web browser.
• LoanPay XPRESS Online loan payment service enabling convenient loan repayment management. Targeted at members with active credit union loans.
• Audio Response Banking Telephone banking service providing account access via audio response system. Targeted at members preferring phone-based self-service banking.
• Free Notary Service Complimentary notary services available to members at the credit union office. Targeted at members completing document signings.
• Money Orders Money order services available to members for completed payment transactions. Targeted at members needing secure payment instruments.
• Love My Credit Union Rewards Member rewards program offering exclusive discounts with savings up to 50% or more off retail prices on partner products and services including TurboTax (up to $15 off federal products), TracFone wireless service (up to $360 per year), and IdentityIQ identity theft protection (up to 35% off). Targeted at credit union members seeking everyday savings.
• Direct Deposit Electronic deposit of payroll or other recurring funds directly into member accounts. Targeted at members receiving recurring income who want accelerated access to funds.
• Shared Branching Service (Xtend Network) Branch-level access to credit union services through the Xtend Shared Branching Network, providing in-person transactions at 75 credit unions throughout Michigan. Targeted at members needing in-person service outside Muskegon County.
• CO-OP ATM Network Access Surcharge-free ATM access to over 30,000 ATMs nationwide through the CO-OP ATM Network, with debit cards accepted at any point accepting credit cards. Targeted at members needing nationwide cash access.

Quantifiable outcome

• 7% APY High Interest Checking on balances up to $5,000
• +2 more outcomes

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• CO-OP ATM NetworkcoreTechnology or IntegrationPartnership providing access to 30,000 surcharge-free ATMs nationwide. Members can locate surcharge-free ATMs using the CO-OP ATM locator.
• Xtend Shared Branching NetworkcoreChannel Partner/ Reseller/ DistributorShared branching network providing access to 75 credit unions throughout the State of Michigan, allowing members to conduct transactions at partner credit union locations.
• Love My Credit Union RewardsminorGTM or Marketing PartnerMarketing partnership providing exclusive member discounts on products and services including TurboTax, TracFone wireless services, and IdentityIQ credit monitoring.
• Clear Choice Auto SalesminorChannel Partner/ Reseller/ DistributorAuto dealership partner located at 2877 Pillon Rd, Twin Lake, MI 49457 providing in-dealership financing options for members.
• Great Lakes FordminorChannel Partner/ Reseller/ DistributorAuto dealership partner located at 2469 Apple Avenue, Muskegon, MI 49442 providing in-dealership financing options for members.
• Johnson Auto SalesminorChannel Partner/ Reseller/ DistributorAuto dealership partner located at 14658 Apple Dr., Fruitport, MI 49415 providing in-dealership financing options for members.
• Preferred Chrysler Dodge JeepminorChannel Partner/ Reseller/ DistributorAuto dealership partner located at 3146 Henry Street, Muskegon, MI 49441 providing in-dealership financing options for members.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Fifth Third Bank: Large regional bank with significant Michigan retail branch presence offering full deposit, lending, and digital banking products. Direct competitor for primary banking relationships in the Muskegon County market.
• DFCU Financial: Michigan-headquartered credit union with full retail banking and lending products. Comparable service suite but operates at much greater scale across multiple branches.
• Lake Michigan Credit Union: Largest credit union in Michigan, offering the full menu of deposit, lending, and digital banking services across a broad geographic footprint. Represents the scaled, incumbent community credit union model against which Michigan Coastal competes.
• Genisys Credit Union: Large Michigan-based credit union serving a broad membership with deposits, consumer loans, mortgages, and digital banking. Provides comparable products but at significantly greater scale and geographic reach.

Direct peers

• Consumers Cooperative Credit Union: Michigan-headquartered community credit union offering full-service consumer banking and lending. Directly comparable community-based credit cooperative serving similar member segments.
• ELGA Credit Union: Michigan-based community credit union serving a defined geographic field of membership with comparable deposit and consumer lending products. Directly comparable community credit union model operating in a similar size range.
• Wildfire Credit Union: Michigan community credit union providing savings, checking, and consumer lending products to a defined membership. Operates with a similar community-anchored, member-owned value proposition.
• Frankenmuth Credit Union: Michigan community credit union offering member-owned banking, deposits, and consumer/auto lending to a defined regional membership. Operates a similar single- or limited-branch community model.

Emerging players

• Ally Bank: Digital-first bank offering competitive deposit rates (savings, CDs) and consumer lending nationwide with no membership restrictions. Represents the digital competitive threat against community credit unions' deposit franchises.

Regional players

• MSU Federal Credit Union: Michigan-based large credit union with university-affiliated roots and statewide membership. Comparable consumer banking products but with significantly larger scale and broader geographic reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php?id=100095286261463&mibextid=LQQJ4d
• Xx.com/micoastalcu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Michigan Coastal Credit Union