LANSING, Mich. (3/21/12)--The Michigan Credit Union League & Affiliates' 2012 report on Community Reinvestment Initiative (CRI) shows the credit union advantage to consumers, said the league.
Credit unions in the state use the tool to show why credit unions offer a clear choice for consumers, and to provide information to members of Congress, state legislature, credit union boards and the public, the league said (Michigan Monitor
Statistics related in the report about the benefits of credit unions to consumers include:
Financial benefits--Michigan credit union members enjoyed an estimated $259 million in the form of lower fees and better rates between June 30, 2010 and June 30, 2011.
Invest in America--Roughly 499,540 credit union members nationwide received discounts on their new car purchases through the Invest in America program since it began in December 2008.
Save to Win--Credit union members deposited $30 million in Save to Win, a prize-linked savings account offered by credit unions in the state.
Youth Financial Education--Michigan credit unions educated 49,945 K-12 students during the 2010-2011 school year.