New charter opens up credit union membership
TRAVERSE CITY – Thanks to a new Community Charter granted by the State of Michigan, Members Credit Union, headquartered in Traverse City, is now able to accept as a member anyone who lives, works or worships in Antrim, Benzie, Kalkaska, Grand Traverse, Leelanau or Manistee counties.
“We’re excited that many more people will now be able to discover our wide range of credit union services,” said Dan Witkowski, President and CEO of Members. “Many people don’t realize that we are a resource for home mortgage loans and home equity loans, as well as loans for cars, trucks, boats and snowmobiles.
“In addition, we offer a variety of savings products, checking, debit card, website for financial transactions and ATMs for complete member needs. While banks exist to make money for their stockholders, credit unions exist solely to serve their member-owners and benefits are usually returned to our members in the form of lower loan rates, lower fees and higher deposit rates.”
Before the new charter was granted, membership in Members Credit Union had been limited to government offices and select employee groups that requested offering Members Credit Union membership to their employees and relatives of their employees.
“It was always disappointing for residents to learn that they couldn’t use our services because they were not related to someone whose employer had requested our services,” said Witkowski. “Now our membership is open to everyone throughout six counties.”
Organized as the Traverse City Governmental Credit Union in 1954, Members Credit Union is the largest locally owned credit union in Traverse City with nearly 44,000 members and over $141 million in assets. The credit union operates seven offices; several featuring extended drive-thru hours (7 a.m. to 7 p.m.) and ATMs.
To learn about Members Credit Union, call (231) 929-2000 or visit www.memberscu.com.