401(k) · DOL Form 5500 · 2024

Michigan First Credit Union 401(k) Plan

Data updated 2026-08-25

$32M
Total assets Below avg plan size
451
Participants Below avg headcount
78th
Percentile by assets National rank
$70,496
Avg per participant Below avg 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

$32M in assets, 451 participants

Michigan First Credit Union's Michigan First Credit Union 401(k) Savings Plan reported $32M in total assets and 451 participants in its 2024 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.

  • #5,635 in Finance & Insurance (8,549 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, $32M for 451 participants (~$70,496/participant), up 18.5% in 2024.

#5,635
in Finance & Insurance (8,549 peers)
+18.5%
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 2024 · DOL Form 5500

$31,793,633 Top 22% higher than 78% of 123,620 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 2024

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

Plan-year 2024 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 (451 participants).

What changed between DOL Form 5500 filings

plan year 2023 → plan year 2024

  • Michigan First Credit Union 401(k) Savings Plan end-of-year assets rose from $27M in the plan year 2023 filing to $32M in the plan year 2024 filing.
  • Michigan First Credit Union 401(k) Savings Plan reported net income fell from $5M in the plan year 2023 filing to $5M in the plan year 2024 filing.
  • Michigan First Credit Union 401(k) Savings Plan reported participants rose from 443 in the plan year 2023 filing to 451 in the plan year 2024 filing.

See the national 2023→2024 release diff →

Form 5500 schedule snapshot

Filing strip 380481580 · Michigan First Credit Union PY 2024 · 401(k)

Michigan First Credit Union 401(k) Savings Plan · $32M · 451 · 78th

  • RANK $32M
  • RANK 451
  • RANK 78th
  • RANK 401(k)
  • RANK near Punxsutawney Area Hospital, Inc. 401(k) Profit Sharing Plan
  • RANK ind #5635

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

Mcgrath Lexus 401(k) Profit Sharing Plan and TrustMcgrath Lexus 401(k) Profit …$32MMichigan First Credit Union 401(k) Savings PlanMichigan First Credit Union …$32MPunxsutawney Area Hospital, Inc. 401(k) Profit Sharing PlanPunxsutawney Area Hospital, …$32MVohra Wound Physicians Managem 401(k) Profit Sharing Plan and TVohra Wound Physicians Manag…$32MT-L Irrigation Co. Profit Sharing PlanT-L Irrigation Co. Profit Sh…$32M
End-of-year total assets ($M) among Michigan First Credit Union 401(k) Savings Plan and nearest nationwide 401(k) peers. Source: DOL Form 5500 plan year 2024.

Scale-class filing particulars (2024)

Total Assets (Beginning of Year)$27M
Net Assets (End of Year)$32M
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 -100102030 Total assets ($B) Participants Michigan First Credit Union 401(k) Savings Plan, Total assets ($B): 0.031793633 · Participants: 451Michigan First Credit Union 401(k) Savings PlanGeneral Motors Retirement Savings Plan for Salaried Employees in the United States, Total assets ($B): 23.0591668 · Participants: 43053General Motors Retirement Savings Plan for Salaried Employees in the United StatesFord Motor Co. Savings and Stock Investment Plan for Salaried Employees, Total assets ($B): 17.26893589 · Participants: 31790Ford Motor Co. Savings and Stock Investment Plan for Salaried EmployeesThe Dow Chemical Company Employees' Savings Plan, Total assets ($B): 10.768606712 · Participants: 17128The Dow Chemical Company Employees' Savings PlanThe General Motors Personal Savings Plan for Hourly-Rate Employees in the United States, Total assets ($B): 9.568379082 · Participants: 42513The 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): 8.2932975 · Participants: 60497Ford 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 Punxsutawney Area Hospital, Inc. 401(k) Profit Sharing Plan in PA ($32M); by covered participants it is Aim Media 401(k) Plan in TX (451 participants). Same-state nearby plans are listed separately above.

Similar participant headcount

Nearest other-state filings by covered participants (451 participants); asset peers above are excluded.

DOL Form 5500 plan year 2024. 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 2024? ▼
Michigan First Credit Union 401(k) Savings Plan grew sharply - up 18.5% during 2024, from $27M to $32M. 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 123,622 plans that reported assets for plan year 2024 (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 Punxsutawney Area Hospital, Inc. 401(k) Profit Sharing Plan in PA ($32M, 417 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 Aim Media 401(k) Plan in TX (451 participants, $20M in assets).

Source: U.S. Department of Labor, Employee Benefits Security Administration (EBSA), Form 5500 public disclosure dataset. Plan year 2024.

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.