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 Q4 2021)

Total Number of Credit Unions: 208

  • TOTAL # SCUs: 134
  • TOTAL # FCUs: 74
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 64%

Total Assets: $94,917,653,081

  • TOTAL $ SCU ASSETS: $77,759,450,168
  • TOTAL $ FCU ASSETS: $17,158,202,913
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 82%

Total Members: 5,817,980

  • TOTAL Members SCUs: 4,790,461
  • TOTAL Members FCUs: 1,027,519
  • SCU % OF TOTAL (SCUS/STATE TOAL): 82%

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

Polish American Credit Union Support Fund: a Path to Economic Stability For Millions of Ukrainian Refugees in Poland Update

PictureThe war continues next door, much too close. As of the end of April, over 3 million Ukrainian refugees are here with us in Poland. In cities such as Warsaw, Krakow and Lublin, city populations have increased by 20%.

After the Russian withdrawal from Kiev, numbers of refugees arriving decreased. But as we saw the revelations of killing of civilians and renewed attacks on Eastern Ukraine, new waves arrive. Many arrive traumatized after losing everything including family members. Most are women with children. Husbands, fathers and sons remain in Ukraine to fight the invaders.

Polish credit unions will be at the center of this conflict for a while. We have been warned of donor exhaustion and refugee fatigue. But our hearts are big and we all commit to welcoming and hosting refugees from Ukraine into our homes and into our hearts. These people are now part of our community. They fight in Ukraine for all our freedom.

​Grants from the Polish American Credit Union Support fund supports credit unions helping refugees move into stable housing. This family from Mariupol lost their husband and father in the fighting. Credit union Ziemi Rybnickiej, in the south of Poland, assisted them in renting a flat and acquiring a washing machine.
– Rafal Matsuiak, President of NACSCU

Click here to read the full report


STORY ARCHIVE:
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