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
Stay tuned for coverage of @CUNA's BSA conference which starts Sunday. #CUNABSA #CUNACompliance
1 Day ago
Today's the last day to complete @CUNA's Home Depot data breach survey http://t.co/UcB8G9bVXe #StoptheDataBreaches
1 Day ago
Brenda Davis of Cross Roads Ministries will walk through 83 communities during the Ending Hunger Walking tour. (2 of 2)
1 Day ago
The Ending Hunger Walking tour, coordinated by the Maine CU League, kicked off at Old Maine CU in Augusta today. (1 of 2)
1 Day ago
Darwin Brokke of Citizens Community CU represented the #CU Association of Dakotas at a housing summit hosted by @SenatorHeitkamp
1 Day ago