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

STATS

  • TOTAL # SCUs: 136
  • TOTAL # FCUs: 77
  • SCU % OF TOTAL (SCUS #/STATE TOTAL #): 64% of 213 MI CUs
  • TOTAL $ SCU ASSETS: $68,407,304,888
  • TOTAL $ FCU ASSETS: $14,936,403,892
  • TOTAL ASSETS: $83,343,708,780
  • SCU % OF TOTAL ASSETS (SCUS $/STATE TOTAL $): 82%

FUN FACT: Michigan has the longest freshwater shoreline in the world and has more shoreline than any other state, except Alaska.


RECENT NEWS

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.”

Click on the title to read the full release.


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?
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