On October 23, 1962, a general meeting of the Alma Education Association was held at 4:00 PM in the all-purpose room of Wright Avenue Elementary School to discuss the organization of a credit union. A handout provided entitled, “What Makes Credit Unions Different?” says, “There are other institutions happy enough to accept a teacher’s money or to lend him funds. But only a credit union – operated by and for teachers – is completely tailored to the special problems teachers have. A teacher’s credit union is not a business in the usual sense, but a service organization. It is chartered by law as a non-profit corporation, limited to serving members only. Its customers are its owners. Its policies and services are shaped by their specific needs…”. On this day in 1962, Gratiot County Teacher’s Federal Credit Union was established by a group of teachers looking for a financial institution that understood their unique financial needs.
Over the years, our name has changed and our field of membership has expanded to a “community charter” allowing anyone who lives, works, worships, or attends school in Gratiot County, Michigan to join our credit union. Through these changes, GraCo Federal Credit Union still holds true to our original ideals. We are owned by our members and we are here to serve our members. Each of our members has unique financial needs and we provide a variety of services to fill them…from high dollar home equities to low dollar payday advance loans…from free online and bill pay services to face to face friendly interaction…
At GraCo Federal Credit Union, we all benefit from the cooperative nature of our members! If it’s time for a change, it’s time for GraCo FCU.
Changes to the Property Value could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
You can change the property value by moving the Property Value slider up or down or by entering a new Property Value manually in the Property Value box.
When you change the Property Value, only the LTV will change, and the Loan Amount will remain the same Loan Amount.
Other advanced sliders’ options are available with Lendersa® Advanced Calculator
CloseChanges to the loan amount, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
CloseLTV is the abbreviation of Loan To Value, and it is the ratio between the Loan Amount and the Property Value. The formula to calculate LTV is Loan Amount divided by the property value. 
Example: Loan Amount $300,000, Property value $400,000 
Changes to the LTV, even so slightly, could change the results in a significant way. Lendersa® sliders allow you to make fast changes to explore your financing options.
The Loan Amount Slider
Change the Loan Amount by moving the Loan Amount slider. (The LTV will change, and the Property Value will remain unchanged).
The LTV Slider
Change the Loan Amount by moving the LTV slider. (The Property Value will remain unchanged).
Other advanced options are available with Lendersa® Advanced Calculator
Close
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NMLS 1795154