401(k) · DOL Form 5500 · 2023

Michigan First Credit Union 401(k) Plan

Data updated 2026-08-25

$27M
Total assets Below avg plan size
443
Participants Below avg headcount
78th
Percentile by assets National rank
$60,551
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

$27M in assets, 443 participants

Michigan First Credit Union's Michigan First Credit Union 401(k) Savings Plan reported $27M in total assets and 443 participants in its 2023 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.

  • #5,840 in Finance & Insurance (8,869 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, $27M for 443 participants (~$60,551/participant), up 23.9% in 2023.

#5,840
in Finance & Insurance (8,869 peers)
+23.9%
assets growth YoY
0.3×
vs typical plan assets (national mean)

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 2023 · DOL Form 5500

$26,824,097 Top 22% higher than 78% of 127,068 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 2023

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

Plan-year 2023 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 (443 participants).

What changed between DOL Form 5500 filings

plan year 2022 → plan year 2023

  • Michigan First Credit Union 401(k) Savings Plan reported net income rose from -$3M in the plan year 2022 filing to $5M in the plan year 2023 filing.
  • Michigan First Credit Union 401(k) Savings Plan end-of-year assets rose from $22M in the plan year 2022 filing to $27M in the plan year 2023 filing.
  • Michigan First Credit Union 401(k) Savings Plan reported participants rose from 425 in the plan year 2022 filing to 443 in the plan year 2023 filing.

See the national 2022→2023 release diff →

EBSA filing schedule strip

Filing strip 380481580 · Michigan First Credit Union PY 2023 · 401(k)

Michigan First Credit Union 401(k) Savings Plan · $27M · 443 · 78th

  • 5500 $27M
  • 5500 443
  • 5500 78th
  • 5500 401(k)
  • 5500 near Ohio Valley Banc Corp Profit Sharing Retirement Plan
  • 5500 ind #5840

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

Velocity Clinical Research 401(k) PlanVelocity Clinical Research 4…$27MMichigan First Credit Union 401(k) Savings PlanMichigan First Credit Union …$27MOhio Valley Banc Corp Profit Sharing Retirement PlanOhio Valley Banc Corp Profit…$27MEastwood Homes Profit Sharing 401(k) PlanEastwood Homes Profit Sharin…$27MAndrews Federal Credit Union 401(k) PlanAndrews Federal Credit Union…$27M
End-of-year total assets ($M) among Michigan First Credit Union 401(k) Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2023.

Scale-class filing particulars (2023)

Total Assets (Beginning of Year)$22M
Net Assets (End of Year)$27M
Net Income$5M
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 -50510152025 Total assets ($B) Participants Michigan First Credit Union 401(k) Savings Plan, Total assets ($B): 0.026824097 · Participants: 443Michigan First Credit Union 401(k) Savings PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 20.378449285 · Participants: 47299General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 15.588575271 · Participants: 30516Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 10.084842211 · Participants: 18088The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 8.580684909 · Participants: 40393The 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): 7.617084451 · Participants: 59195Ford 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 Ohio Valley Banc Corp Profit Sharing Retirement Plan in OH ($27M); by covered participants it is Lifecore Biomedical 401(k) Plan in MN (443 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (443 participants); asset peers above are excluded.

DOL Form 5500 plan year 2023. 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 2023? ▼
Michigan First Credit Union 401(k) Savings Plan grew sharply - up 23.9% during 2023, from $22M to $27M. Reported net income was $5M.
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 127,072 plans that reported assets for plan year 2023 (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 Ohio Valley Banc Corp Profit Sharing Retirement Plan in OH ($27M, 236 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 Lifecore Biomedical 401(k) Plan in MN (443 participants, $81M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2023.

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.