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No matter how you look at them, our numbers save you money.

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Credit Unions vs. Banks

You can trust our numbers.

Why are more and more people in Michigan choosing credit unions? In a recent study of close to 2,000 Michigan residents, 59% of credit union members trust "entirely" that their financial institution is operating in members' best interests. Only 31% of bank customers feel the same way. When you are part of a credit union, you are part of a community that supports your financial well-being.

Credit union benefits compared to banks

Michigan credit unions provided nearly $398 million in direct financial benefit to their members during the twelve months ending in September 2018. This includes:

  • Membership savings with lower rates and fees equaling $76 per member or $159 per household

  • Unlimited access to nearly 1,700 fee-free ATMs across the state

  • Credit cards that average 5% less than banks
  • Personal loans that average close to 1% less than banks

  • Auto loans that average 4% less than banks

    • Just think: financing a $25,000 new auto for 60 months will save credit union members an average of $118/year in interest expenses compared to a bank

Find out how much more your neighborhood credit union can do for you. 

*Data and statistics provided by CUNA, Michigan Membership Benefits Report Q3 2018

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