Michigan Story Archive

6 Michigan Credit Unions Named Top-Performing in Country
The strength of the Michigan credit union movement represented on S&P Global’s latest ranking.

April 7, 2021 — In a recent ranking by the S&P Global Market Intelligence, six Michigan credit unions placed in the country’s top 100 performing credit unions: Genisys Credit Union, Lake Michigan Credit Union, Consumers Credit Union, St. Francis X Federal Credit Union, Frankenmuth Credit Union and Michigan Schools and Government Credit Union (MSGCU).

“Despite going through a challenging year filled with economic uncertainty, we have seen community banks and credit unions play a significant role in their regional markets, providing support and essential services needed in their local communities,” said S&P Global Senior Director of Financial Institutions Jimmy Pittenger. “I’m thrilled to see these community banks and credit unions thrive in a challenging time and proud to recognize these top-performing local financial institutions in our annual rankings.”

“It’s great to see Michigan credit unions so well represented on S&P Global’s latest ranking,” said MCUL CEO Dave Adams. “That these six credit unions are of various asset sizes and operate from multiple regions within the state speaks to how strong the Michigan credit union movement is as a whole.”

Click here to access the full list of top performing U.S. community banks and credit unions for 2020.

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Credit Union Trust Receives Approval from the State of Michigan
Nov. 5, 2018 – Today, organizers of Credit Union Trust announced they have received approval from the Michigan Department of Insurance and Financial Services, Office of Banking to proceed with plans to establish the new, limited-purpose financial institution.

Credit unions apply to form limited purpose bank for investments
Aug. 1, 2018 — Earlier this week, seven Michigan credit unions applied with the Michigan Department of Insurance and Financial Services to establish a limited-purpose financial institution that will provide trust services primarily to credit union members. While the organizers anticipate approval, regulators have 100 days to grant such authority.

MI’s Clarkston Brandon Community Credit Union conserved
Jan. 13, 2016 — To protect membership and to ensure uninterrupted access to funds, the Michigan Department of Insurance and Financial Services (DIFS) today took action to conserve Clarkston Brandon Community Credit Union (CBCCU) in Clarkston, MI.

North Farmington Senior Earns $5,000 Credit Union Scholarship
May 14, 2015 – One local high school student, as well as 19 other students from the metro Detroit area, received scholarships totaling $100,000 for dedicating their minds to improving Michigan’s future.

Kolhoff Appointed to NASCUS Performance Standards Committee
March 18, 2015 – John Kolhoff, director of the Michigan Department of Insurance and Financial Services (DIFS) Office of Credit Unions and an active member of the National Association of State Credit Union Supervisors (NASCUS), has been appointed to the NASCUS Performance Standards Committee (PSC).

 


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