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
.@TheNCUA open board meeting starts at 10 a.m. ET tomorrow. It is board member J. Mark McWatters' first. Watch @NewsNowLiveWire
9 hours ago
.@CFPB is proposing to oversee larger nonbank auto finance companies for the first time at the federal level.
10 hours ago
.@CUNA's Bill Hampel moderates a discussion on the future of credit unions in the post-100 million member world. http://t.co/kcXykiRQVn
13 hours ago
#Breaking: QE likely to end next month, @federalreserve says #NewsNow #Market http://t.co/u7Fb5l5fwM
13 hours ago
.@Experian study confirms that building a credit history is beneficial to financial marginalized communities. 64M are "credit invisibles"
13 hours ago