BENEFITS OF THE MICHIGAN STATE CHARTER (View/download PDF)
REGULATING AGENCY: Department of Insurance and Financial Services, Office of Credit Unions
- Anita Fox, Director, Department of Insurance & Financial Services
- Andrew Bedard, Director, Office of Credit Unions
- Joe Trotter, Assistant Director, Office of Credit Unions
- Website: michigan.gov/difs
ACCREDITED: 1989
LEAGUE: Michigan Credit Union League & Affiliates
- Patty Corkery, President/CEO
- Website: mcul.org
PRIVATE SHARE INSURANCE: No
2025 STATS
- Largest SCU: LAKE MICHIGAN CU $15.95B in assets
- Largest FCU: MICHIGAN STATE UNIVERSITY FCU $8.38B in assets
| Fourth Quarter 2025 | SCUs | FCUs | Total CUs | % of SCUs/Total |
|---|---|---|---|---|
| Total Credit Unions | 112 | 59 | 171 | 65.50% |
| Credit Union Members | 5.07M | 1.04M | 6.11M | 83.03% |
| Credit Union Assets | $96.29B | $19.06B | $115B | 83.47% |
FUN FACT
Michigan is the only place in the world with a floating post office. The J.W. Westcott II is the only boat in the world that delivers mail to ships while they are still underway. They have been operating for 125 years.
What’s new in your state?
Click here to submit your state-chartered credit union news stories to NASCUS today.