Are Credit Unions Safe? Yes. Credit Unions are backed by the strongest insurance fund of its kind, insuring individual accounts up to $100,000. The National Credit Union Share Insurance Fund (NCUSIF) is backed by the full faith and credit of the federal government. However, no tax dollars are used to fund or operate it. This fund also insures IRA accounts up to an additional $100,000.

Do They Have The Services I Need? Most credit unions were once small operations that offered limited services. However, that has changed dramatically. Most credit unions now offer a full range of financial services, including checking accounts, credit cards, and direct deposit. Many of them also offer a full range of remote access including ATM cards, telephone banking, home banking, secure applications and transactions, and as seen here, current information accessible on the Internet.

How Can I Find A Credit Union? First you should check our list of Credit Unions of Michigan on the Internet. You may be eligible for membership at one or more of those institutions. Otherwise, finding a credit union may be easier for some than for others. Most major corporations sponsor a credit union. You can start by asking your human resources department. Other common sponsors include churches and communities. Ask family and friends if they belong to a credit union or check your local phone book under Credit Unions. Another option is to call the Michigan Credit Union league at 1-800-474-JOIN. They can give you a list of credit unions in your area and assist you in many ways.

How Do I Join? Once you find a credit union you are eligible to join, the process will vary widely. Most credit unions do not have membership fees but will probably require you to leave five or ten dollars in an account to maintain your membership. Once you become a credit union member, you can usually remain a member for life, even if you move out of the "field of membership."