Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Michigan league CU association to combine
PLYMOUTH, Mich. (1/22/09)--The Michigan Credit Union League (MCUL) and the Michigan Association of Credit Unions (MACU) signed a management contract that will align the two organizations and allow MACU's membership to use MCUL services. The contract keeps the MACU structure and board of directors in place until Dec. 31, 2010, while immediately offering MACU credit unions access to MCUL's services (Michigan Monitor Jan. 26). Ninety-five percent of Michigan’s credit unions are affiliated with the MCUL and MACU structure. MCUL President/CEO David Adams said that keeping the MACU structure for an additional two years will provide oversight of the transition and assure that MACU credit unions’ needs are met. When MACU CEO Linda Schepperly retires March 1, Adams will serve as president/CEO of both organizations. “This alliance is a natural progression, given the incredible rate of consolidation within the credit union industry,” Adams said. “All of the merger activity puts pressure on associations to provide value for the dues dollar. “This alignment will provide value to MACU credit unions, which will benefit from access to a broader suite of services, but I am confident the alignment also will provide value to the entire credit union community in Michigan.” Jim Henmueller, MACU chairman and CEO of Chief Pontiac FCU, Pontiac, said the move “is a positive step toward further unity in the Michigan credit union industry. This agreement provides an enhanced value for MACU credit unions by giving them access to the MCUL’s advocacy efforts, information and education services, fee-based services and opportunities for networking.” “Given the current economy, finding services for less is a must,” said Andy List, MCUL chairman and CEO of Option 1 CU, Grand Rapids. “It should be seen as a welcome sign that credit unions and their associations are finding ways to help credit unions get the services they need from an association at the lowest possible dues cost.” Existing MACU credit unions can participate in the dual-membership arrangement until Dec. 31, 2010. MACU credit unions can join the MCUL and Credit Union National Association directly after Jan. 1, 2011. MACU’s remaining two employees will continue to serve as resources for MACU and MCUL.


RSS print
News Now LiveWire
Housing starts swell in July #NewsNow #Market http://t.co/EdKIhXEj9l
15 hours ago
Consumer inflation tapers after spring surge #NewsNow #Market http://t.co/bgvQd8fyuF
16 hours ago
Have you read this one today in #NewsNow? What NCUA examiners look for on cybersecurity efforts: NCUA Report http://t.co/4g5wUavUAe
17 hours ago
.@CFPB sets $2.75M fine v. auto finance co. it says "distorted consumer credit records for years": TX-based First Investors Fin. Serv. Group
17 hours ago
University, college #creditunions add fin ed to higher ed. See #NewsNow http://t.co/NsyshwHPhg
19 hours ago