401(k) · DOL Form 5500 · 2022

Michigan First Credit Union 401(k) Plan

Data updated 2026-08-25

$22M
Total assets Small plan by assets
425
Participants Below avg headcount
78th
Percentile by assets National rank
$50,924
Avg per participant Low balance/head
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Official DOL plan name: Michigan First Credit Union 401(k) Savings Plan · Sponsored by Michigan First Credit Union · Michigan · Finance & Insurance

$22M in assets, 425 participants

Michigan First Credit Union's Michigan First Credit Union 401(k) Savings Plan reported $22M in total assets and 425 participants in its 2022 DOL Form 5500 filing, ranking in the 78th percentile by assets among filed plans. Figures are as reported by the plan sponsor to the Department of Labor, not audited or endorsed by PlainRetire.

  • #6,059 in Finance & Insurance (9,261 peers)

Where Michigan First Credit Union 401(k) Savings Plan sits by assets

Michigan First Credit Union 401(k) Savings Plan sits in the top quartile of all filed plans by assets, $22M for 425 participants (~$50,924/participant), down 10.6% in 2022.

#6,059
in Finance & Insurance (9,261 peers)
-10.6%
assets change YoY
0.2×
vs typical plan assets (national mean)

The plan reported a net loss of $3M for the year, a single-year figure driven by markets and benefit payments, not a measure of plan health.

Michigan First Credit Union 401(k) Savings Plan's outsized position by total assets

Michigan First Credit Union 401(k) Savings Plan vs every filed plan by assets

End-of-year total assets · plan year 2022 · DOL Form 5500

$21,642,837 Top 22% higher than 78% of 139,123 filed plans

This plan $0 $2,050,000,000 every filed plan with reported assets, bucketed by value

Dashed line + filled bar = this entry, among filed plans.

Source U.S. Department of Labor Form 5500 filings (EBSA) · plan year 2022

Michigan First Credit Union 401(k) Savings Plan among mid-size filed plans by headcount

Plan-year 2022 Form 5500 filings with a reported participant count, partitioned by headcount band, not by assets. Michigan First Credit Union 401(k) Savings Plan sits mid-pack in the medium band (425 participants).

DOL schedule card

Filing strip 380481580 · Michigan First Credit Union PY 2022 · 401(k)

Michigan First Credit Union 401(k) Savings Plan · $22M · 425 · 78th

  • VS-ST $22M
  • VS-ST 425
  • VS-ST 78th
  • VS-ST 401(k)
  • VS-ST near Cooper Consolidated, LLC 401(k) Retirement Savings Plan
  • VS-ST ind #6059

Stamps derive from this plan's Form 5500 line items (assets, participants, type, EIN, cohort placement) - not a quality rating of the sponsor. Read with Finance & Insurance retirement plans → · Plans in Michigan →

Michigan First Credit Union 401(k) Savings Plan in the asset neighbourhood

Carrier Process Equipment Group, Inc. 401(k) Plan and TrustCarrier Process Equipment Gr…$22MMichigan First Credit Union 401(k) Savings PlanMichigan First Credit Union …$22MCooper Consolidated, LLC 401(k) Retirement Savings PlanCooper Consolidated, LLC 401…$22MCo-Op 401(k) Plan$22MYunex LLC Savings Plan$22M
End-of-year total assets ($M) among Michigan First Credit Union 401(k) Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2022.

Scale-class filing particulars (2022)

Total Assets (Beginning of Year)$24M
Net Assets (End of Year)$22M
Net Income-$3M
Employer EIN380481580
Plan Effective Date1967-07-01
Filing StatusFILING RECEIVED

Sponsor Plan History (Michigan First Credit Union)

Sponsor-wide plan assets over time

All Michigan First Credit Union plans reported in each filing year

Latest sponsor-wide plan assets
$32M 46.90141130758413% vs 2022
2024 filing year
$20M$25M$30M$35M 202220232024 $21.6M $31.8M ▲ +46.9%
Year Plans Participants Total Assets
2022 1 425 $22M
2023 1 443 $27M
2024 1 451 $32M

Nearby 401(k) Plans in Michigan

Peer 401(k) plans, same state, same plan type, ranked by total assets.

Michigan First Credit Union 401(k) Savings Plan vs. nearby 401(k) plans in Michigan, assets vs. participants Scatter plot of 6 data points. -20000020000400006000080000 -505101520 Total assets ($B) Participants Michigan First Credit Union 401(k) Savings Plan, Total assets ($B): 0.021642837 · Participants: 425Michigan First Credit Union 401(k) Savings PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 18.071817726 · Participants: 43382General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 13.833597622 · Participants: 32974Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 9.307640951 · Participants: 16930The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 7.545889119 · Participants: 40458The General Motors Personal Savings Plan for Hourly-Rate Employees in the United StatesFord Motor Co. Tax-Efficient Savings Plan for Hourly Employees, Total assets ($B): 6.44558193 · Participants: 57811Ford Motor Co. Tax-Efficient Savings Plan for Hourly Employees
Michigan First Credit Union 401(k) Savings Plan vs. nearby 401(k) plans in Michigan, assets vs. participants
Compare Michigan First Credit Union 401(k) Savings Plan side-by-side with 3 peers →

Michigan First Credit Union 401(k) Savings Plan's out-of-state 401(k) peers by assets and headcount

Outside Michigan, the nearest 401(k) by assets is Cooper Consolidated, LLC 401(k) Retirement Savings Plan in LA ($22M); by covered participants it is Bayer Built Woodworks, Inc. Retirement Plan in MN (425 participants). Same-state nearby plans are listed separately above.

Closest by plan assets

Nearest other-state filings by tot_assets_eoy ($22M here).

Similar participant headcount

Nearest other-state filings by covered participants (425 participants); asset peers above are excluded.

DOL Form 5500 plan year 2022. Asset totals can differ widely at the same headcount; neither axis is a quality rating.

Frequently Asked Questions

How did Michigan First Credit Union 401(k) Savings Plan assets move in 2022? ▼
Michigan First Credit Union 401(k) Savings Plan pulled back noticeably - down 10.6% during 2022, from $24M to $22M. Reported net income was -$3M.
How have Michigan First Credit Union plan assets changed over time? ▼
Across 3 plan years on file (2022-2024), Michigan First Credit Union's sponsor-wide assets grew 46.9%, from $22M to $32M.
Where does Michigan First Credit Union 401(k) Savings Plan rank by assets among Form 5500 filers? ▼
Michigan First Credit Union 401(k) Savings Plan ranks in the 78th percentile by end-of-year assets among 139,126 plans that reported assets for plan year 2022 (in the top quartile of all filed plans by assets).
Which 401(k) plans are similar in size to Michigan First Credit Union 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by assets is Cooper Consolidated, LLC 401(k) Retirement Savings Plan in LA ($22M, 184 participants).
Which 401(k) plans cover a similar participant headcount to Michigan First Credit Union 401(k) Savings Plan? ▼
Among 401(k) plans in other states, the closest by covered participants is Bayer Built Woodworks, Inc. Retirement Plan in MN (425 participants, $32M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2022.

Source: DOL EFAST2 filing system (efast.dol.gov) - original filing retrieval by EIN 380481580.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from U.S. Department of Labor Form 5500 filings (EBSA). See our methodology for details.