Electrical Workers Local 58 Credit Union is a not-for-profit, member-owned financial institution headquartered in Detroit, Michigan at 1366 Porter Street. The credit union serves members with traditional consumer banking and lending products, with a focus on rate claims to verify and personalized service from experienced staff. The organization operates under NCUA (National Credit Union Administration) insurance, providing member deposits with federal protection.
The credit union offers a range of financial products including savings accounts, checking accounts, auto loans (new and used vehicles), personal loans, recreational vehicle loans, and a Visa credit card with no annual fee. They provide online banking through their IT.ME247 platform, a mobile application for account management, and recently completed a system upgrade as of November 1, 2025, which required all members to create new accounts. Members can apply online for loans and manage accounts through multiple channels.
Electrical Workers Local 58 distinguishes itself through competitive auto loan rates (4.99% for new cars, 5.49% for used cars), personal loan rates at 8.99%, and a Visa card at 10.90% APR with no annual fees. The credit union operates a single physical branch location with limited hours (Monday-Friday 9am-4pm, with Friday lunch closure 11:30am-12:30pm), emphasizing its local, community-focused approach. Members benefit from the credit union's philosophy that the institution belongs to its members and profits are returned to them through rate claims to verify and service quality.
The primary limitation is the single branch location in Detroit with restricted hours, making access challenging for members outside the immediate area or those needing evening/weekend services. The recent system upgrade requirement created a barrier to account access. While the credit union advertises rate claims to verify and knowledgeable staff, there is limited public information about membership eligibility criteria, account minimum balances, or fee structures beyond rates advertised.
