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Michigan regulators hold town meetings with CUs
LANSING, Mich. (12/10/09)--Michigan’s Office of Financial and Insurance Regulation (OFIR) conducted two town hall meetings Dec. 3 for credit unions in the state.
Commissioner Ken Ross, left, of Michigan’s Office of Financial and Insurance Regulation conducted two town meetings for Michigan credit unions Dec. 3. He is shown here at Option 1 CU in Grand Rapids. (Photo provided by the Michigan Credit Union League)
OFIR Commissioner Ken Ross met with credit unions at Community Choice CU in Farmington Hills and at Option 1 CU in Grand Rapids. The meetings aimed to create an open dialogue between OFIR and credit unions on state regulatory issues, said the Michigan Credit Union League (MCUL) (Michigan Monitor Dec. 9). “This was a great opportunity for me, as commissioner, to get out and talk to Michigan credit unions and get their impression on what is happening out in the Michigan environment, and also to hear about the job that we are doing,” Ross said. “It was interesting to hear the difference in perspectives from different managers. There is a rich diversity in Michigan credit unions,” he said, adding that it was “important not only for credit unions to hear from the commissioner directly on a regular basis, but also to be able to speak directly and candidly about what they’re seeing out in the field.” The meetings focused on issues for state-chartered credit unions, although federal credit unions also could attend, said the league. “It’s a good chance to hear about the concerns some credit unions are having in this economic environment, with both foreclosures being at all-time highs and with what’s going on in the auto industry,” Patrick LaPine, MCUL executive vice president, told Michigan Monitor.

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