Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
State program to invest in Michigan FIs including CUs
LANSING, Mich. (12/11/08)--Michigan Gov. Jennifer Granholm announced a new program that would invest state money in Michigan financial institutions--including credit unions—for lending to businesses and consumers. The Michigan CD Stimulus Program aims to help stimulate lending to consumers and businesses, said the Michigan Credit Union League (Michigan Monitor Dec. 10). The program involves the state buying certificates of deposits (CDs) of six or 12 months in duration and purchased at below-market rates, with a minimum offer of $100,000 and a maximum of $10 million per institution. The goal is to loan up to 80% of the funds deposited with participating credit unions and banks to Michigan businesses and consumers. The funds will be available until Feb. 6. The Michigan Department of Treasury, Bureau of Investments, posted final guidelines for the program last week.


RSS print
News Now LiveWire
Even 1 step makes a difference in preparing for disasters #creditunions #NewsNow http://t.co/eFUmMJnIwA
5 hours ago
From today's @USATODAY front page, a shout out to #CreditUnions courtesy of @CUNA http://t.co/881vLPeECN
6 hours ago
Happy anniversary to the ATM! 45 years of self-service cash HT @GOBankingRates http://t.co/ycsm3GFwk5
8 hours ago
.@USATODAY print edition features #creditunion membership march to #100mm. Zoom in on lower left hand corner #NewsNow http://t.co/Xv8fyX7ces
8 hours ago
No special assessment for ASI member #creditunions in 2014. See #NewsNow http://t.co/NwL9eJwbiQ
8 hours ago