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



2024 STATS 
  • Largest SCU: LAKE MICHIGAN CU $13.91B in assets
  • Largest FCU: MICHIGAN STATE UNIVERSITY FCU $7.8B in assets
First Quarter 2024 SCUs FCUs Total CUs % of SCUs/Total
Total Credit Unions 121 66 187 64.71%
Credit Union Members 5.01M 1M 6.02M 83.32%
Credit Union Assets $87.26B $18.02B $105B 82.88%


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
13 Michigan Credit Unions Named as Top Workplaces

Dec. 8, 2023 — For the 16th annual Michigan’s Top Workplaces, the Detroit Free Press partnered with Energage to recognize 225 as Top Workplaces, 13 of which were credit unions. “It’s great to see the Detroit Free Press recognize so many credit unions for this year’s Top Workplaces survey,” said MCUL President/CEO Patty Corkery. “Every year, I see Michigan credit union leaders prioritizing culture, learning how they can foster a workplace that creates a healthy environment for collaboration and trusted member service.”


STORY ARCHIVE

Click here to take a look at the stories that have been collected over the years in Michigan.

What’s new in your state?
Click here to submit your state-chartered credit union news stories to NASCUS today!