Michigan

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
  • Bulletins

ACCREDITED: 1989

LEAGUE: Michigan Credit Union League & Affiliates

PRIVATE SHARE INSURANCE: No

STATS: (As of June 2021)

Total Number of Credit Unions: 211

  • TOTAL # SCUs: 135
  • TOTAL # FCUs: 76
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 64%

Total Assets: $90,905,052,840

  • TOTAL $ SCU ASSETS: $74,538,360,055
  • TOTAL $ FCU ASSETS: $16,366,692,785
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 82%

Total Members: 5,731,924

  • TOTAL Members SCUs: 4,714,412
  • TOTAL Members FCUs: 1,017,512
  • SCU % OF TOTAL (SCUS/STATE TOAL): 82%

FUN FACT: Michigan State University was founded in 1855 as the nation’s first land-grant university and served as the prototype for 69 land-grant institutions later established under the Morrill Act of 1862. It was the first institution of higher learning in the nation to teach scientific agriculture.


RECENT NEWS

Seven Michigan Credit Unions Named Best to Work For in 2021

August 31, 2021 — American Banker (formerly Credit Union Journal) released their annual list of Best Credit Unions to Work For, featuring 55 national credit unions.

“From providing stipends for home office expenses to increased access to telehealth visits to safely bringing employees back to the office, these credit union executives placed employees’ needs first,” said W.B. King of American Banker.

Of the 55 credit unions listed, seven are based in Michigan: Consumers Credit Union, MSU Federal Credit Union, University of Michigan Credit Union, Michigan First Credit Union, Astera Credit Union, Arbor Financial Credit Union, Financial Plus Credit Union.

“I am proud to see such strong representation for Michigan credit unions on Annual Banker’s annual list of Best Credit Unions to Work For,” said MCUL CEO Patty Corkery. “Our state’s credit union movement works tirelessly to create vibrant workplace cultures where team members not only feel comfortable but are also able to grow and thrive, professionally.”

READ MORE


STORY ARCHIVE:
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