Preferred
Preferred is a credit union based in Grand Rapids, Michigan, established in 1968, with $318 million in total assets serving 23,429 members. By Trust Grade it ranks 37th of 170 credit unions we track in Michigan. Its net worth ratio of 14.0% is stronger than 81% of similarly sized credit unions, versus a Michigan median of 11.7%. It was profitable over the most recent period, with a 1.14% return on assets. No consumer complaints against Preferred appear in the CFPB database over our analysis window — common for an institution of this size and a point in its favor.
How Preferred compares to Michigan peers
How we graded Preferred
The Trust Grade blends financial strength with complaint history. Full methodology →
- Strongly capitalized (14.0% capital ratio)
- Strongly profitable (ROA 1.14%)
- No CFPB complaints on record
Consumer complaints (CFPB)
No CFPB complaints are on file for Preferred over the analysis window. For a smaller institution this is common and counts in its favor.
Are deposits at Preferred insured?
Yes. Preferred is an NCUA-insured credit union. Deposits are federally insured up to $250,000per depositor, per ownership category — regardless of this institution's Trust Grade. The grade reflects financial strength and complaint history for comparison, not the safety of insured deposits.
Preferred: frequently asked questions
Is Preferred a good credit union?
Preferred earns a Bankzia Trust Grade of A (98/100, "Excellent"), based on a financial-strength score of 98/100 (it has no CFPB complaints on record). Strongly capitalized (14.0% capital ratio); Strongly profitable (ROA 1.14%).
Is Preferred NCUA-insured?
Yes. Preferred is a NCUA-insured credit union. Deposits are protected up to the standard NCUA limit of $250,000 per depositor, per ownership category.
How big is Preferred?
Preferred holds $318 million in total assets, ranking 37th of 170 credit unions we track in Michigan. It serves 23,429 members.
Does Preferred have CFPB complaints?
No CFPB complaints against Preferred appear in our data over the analysis window, which is typical for a credit union of this size.
Similar Credit Unions
Financial data from NCUA call reports; complaint data from the CFPB Consumer Complaint Database. Bankzia is an independent resource and is not affiliated with any government agency or financial institution. Figures are for general information, not financial advice.
