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Lake Trust Credit Union is a community-based credit union headquartered in Brighton, Michigan. As a not-for-profit financial cooperative, Lake Trust is owned by members of the credit union and regulated under the authority of the National Credit Union Administration (NCUA). The organization is governed and supervised by an 18-member board of ...
The Michigan Schools and Government Credit Union (MSGCU) is headquartered in Clinton Township, Michigan, and has a membership size of more than 137,000 and assets of over $3.7 billion. MSGCU was founded in 1954 and is a not-for-profit financial institution , which is owned and operated by its members.
This is a partial list of credit unions in the United States.. A credit union is a member-owned financial cooperative, democratically controlled by its members, and operated for the purpose of promoting thrift, providing credit at competitive rates, and providing other financial services to its members. [1]
Primarily serving students and alumni of Michigan State University and Oakland University, MSUFCU is federally chartered and regulated by the National Credit Union Administration (NCUA). MSUFCU is the largest university-based credit union in the world, and the second-largest credit union in Michigan. [1] [2] [3]
The Federal Deposit Insurance Corporation federally insures most traditional banks in case of failure. But credit unions are not considered traditional banks. Is a credit union FDIC insured?
Lake Michigan Credit Union was founded in 1933 in Grand Rapids, Michigan, by Lloyd F. Hutt as Grand Rapids Teachers Credit Union. [6] On March 1, 2002, the institution changed its name to Lake Michigan Credit Union. [7] In mid-May 2010, the Kalamazoo-based Citizens Credit Union announced that it planned to merge with Lake Michigan Credit Union.
The bank closed 37 branches in 2013 and another 33 in 2016. [11] In some locations, it replaced the full-service branches with ATMs. [12] In August 2019, the bank merged into Chemical Financial Corporation, which assumed the TCF name. [13] It was founded as Chemical State Savings Bank in 1917. [14]
Ford Engineering Employees Federal Credit Union was founded by employees of Ford Motor Company Engineering and Styling in February 1950. The Dearborn, Michigan, credit union changed its name to Ford Dearborn Federal Credit Union in 1954 and then to Dearborn Federal Credit Union in 1960. In 2003, the credit union renamed itself DFCU Financial. [4]