Chartered by the State of Michigan instead of the federal government, Michigan state-chartered credit unions can be a wise choice for your banking needs. These credit unions provide some of the lowest loan rates around with competitive interest rates and flexible terms, which make them perfect for auto and home loans or expanding your business, increasing your working capital or purchasing assets.

Choosing to bank at state-chartered credit unions in Michigan can be as easy as finding one in the county where you live or work. Membership usually just requires a modest deposit into a share account or may only require you to fill out a membership application.

Consider the following when looking for state sponsored credit unions in Michigan:

1. Locate local credit unions chartered in the state of Michigan that cater to your community.

2. Learn how Michigan state-charted credit unions can save you money.

3. Find Michigan state-chartered credit unions specifically geared to your occupation.

Action Steps
The best contacts and resources to help you get it done

Search for a state-chartered credit union in MI in your community

One of the best forms of advertising is word of mouth. Listen to established credit union members in your county when you're looking to join a MI state-chartered credit union to learn what a community-based credit union can do for you.

I recommend: Belle River Community Credit Union is a credit union chartered in the state of Michigan in 1936. It’s open to anyone who lives, worships or works in Casco, Ray, Armada, Richmond, Columbus, Wales, Riley, Berlin or Lenox Township or Municipality. It’s located in Richmond and offers numerous online services. If you live, attend school, worship or work in Berrien, Eaton, St. Joseph, Barry, Allegan, Calhoun, Kalamazoo, Branch, Van Buren or Cass County and have $5, you can open an account at OMNI Community Credit Union. It has branches in Battle Creek, Kalamazoo, Sturgis and Three Rivers.

Find state-chartered credit unions in MI to save money

If you or any family members meet the eligibility requirements, join a state-chartered credit union in Michigan to save money and meet your specific financial needs. Since many only require that you reside or work in a specific county, then most anyone can find one of these credit unions that they can qualify to join.

I recommend: If you work, live or worship in Clio, Saginaw, Bad Axe, Grand Blanc, Sandusky or Bay City you're eligible to join Team One Credit Union. It offers both personal and business accounts, has many online services and 10 locations with its main office in Saginaw. Option 1 Credit Union is open to anyone who works or lives in Allegan, Clinton, Ingham, Livingston, Ottawa, Shiawassee, Newaygo, Kent, Eaton or Barry County. Apply online, go into a branch or mail in an application to join. It offers a variety of business accounts as well as personal ones. It’s located in Grand Rapids and has eight full service locations.

Select a state sponsored credit union in Michigan specifically for teachers

Some state sponsored credit unions in Michigan specifically gear membership to teachers and other employees in the school systems, but you can also qualify as a relative of someone within the schools and some, though originally started for teachers are now open to most people in the community. See if you meet the requirements to take advantage of the many financial benefits of credit union membership.

I recommend: Michigan Educational Credit Union (MECU) is open to employees of schools located in Jackson, Wayne, Macomb, Washtenaw, Oakland and Livingston counties, and retirees in the same areas. You can open an account for as little as $6 and enjoy all the benefits of membership. There are 18 branches including its main office in Plymouth. State-chartered Berrien Teachers Credit Union was once just for those in the education field, but now it’s basically open to anyone who lives, works or goes to school or church in Berrien, Allegan, Van Buren or Cass County. You can apply online for added convenience.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Credit unions chartered in the state of Michigan use state funds rather than federal funds, although they are federally insured.