Michigan
BENEFITS OF THE MICHIGAN STATE CHARTER (View/download PDF)
REGULATING AGENCY: Department of Insurance and Financial Services, Office of Credit Unions
Michigan State Capitol
- Anita Fox, Director, Department of Insurance & Financial Services
- Denice Schultheiss, Director 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
2023 STATS
- Largest SCU: LAKE MICHIGAN $12.72B in assets
- Largest FCU: MICHIGAN STATE UNIVERSITY FCU $7.71B in assets
| Second Quarter 2022 | SCUs | FCUs | Total CUs | % of SCUs/Total |
|---|---|---|---|---|
| Total Credit Unions | 127 | 67 | 194 | 65.46% |
| Credit Union Members | 4.99M | 996,228 | 5.99M | 83.36% |
| Credit Union Assets | $83.10B | $17.86B | $100.96B | 82.31% |
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.
RECENT NEWS
Proposed Bill Could Make Michigan One of The First States with Electronic IDs
Bill SB 459 would allow the Secretary of State to issue electronic IDs in addition to physical IDs.
Senator Sarah Anthony (D-Lansing) proposed the bill this month, which would allow the secretary of state to upload official IDs electronically through a mobile license system. According to the bill, if an individual requests a mobile ID, the information will be identical to their physical ID and will be valid for state government services, banking, police stops, and ID checks for age. Read more
STORY ARCHIVE
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