Top 10 best credit union in Michigan of 2023

In this article, we’ll discuss about top 10 best credit unions in Michigan with their unique features and the benefits they offer to their members. By the end of this article, you’ll also have a solid understanding of what sets these credit unions apart, making it easier for you to find the perfect fit for your financial needs.

So, buckle up and get ready to explore the world of Michigan’s exceptional credit unions, where members are more than just numbers—they’re family.

Top 10 Best Credit Unions in Michigan: A Comprehensive Guide

Lets unveil the top 10 best credit unions in Michigan, delving into their unique features, benefits, and the reasons they stand out among the rest.

1. Michigan State University Federal Credit Union (MSUFCU)

With roots dating back to 1937, MSUFCU has earned its reputation as one of the best credit unions in Michigan. This institution boasts over 300,000 members and provides a wide range of financial products, including loans, savings accounts, and credit cards. MSUFCU also prioritizes financial education and offers resources to help members make informed decisions about their finances.

Pros:

• Over 300,000 members, making it one of the largest credit unions in Michigan
• Offers a wide range of financial products, including loans, savings accounts, and credit cards
• Strong commitment to financial education and member resources

Cons:

• Membership limited to MSU and Oakland University affiliates, their families, and select employee groups
• Limited branch locations, primarily in East Lansing and Oakland County

2. Lake Michigan Credit Union (LMCU)

As the largest credit union in Michigan, LMCU serves over 400,000 members with competitive interest rates on loans, mortgages, and credit cards. Their dedication to exceptional customer service and community involvement has garnered them a loyal member base. Plus, they offer a high-interest checking account—the Max Checking account—that’s hard to beat.

Pros:

• Largest credit union in Michigan, serving over 400,000 members
• Competitive interest rates on loans, mortgages, and credit cards
• High-interest Max Checking account

Cons:

• Membership limited to Michigan and Florida residents or those with a specific employment, organizational, or family affiliation
• Some members may find the size of the institution less personable

3. DFCU Financial

Established in 1950, DFCU Financial has grown to become one of Michigan’s largest credit unions. Their impressive suite of products includes mortgages, personal loans, and credit cards, as well as investment and insurance services. Additionally, their Cash Back program rewards members with a share of the credit union’s profits each year.

Pros:

• One of Michigan’s largest credit unions, with a wide range of financial products
• Offers investment and insurance services
• Cash Back program rewards members with a share of the credit union’s profits each year

Cons:

• Membership limited to select employee groups, organizations, and family members
• Limited branch locations throughout Michigan

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4. Community Choice Credit Union

Community Choice Credit Union is known for its commitment to giving back to Michigan communities. They offer an extensive range of financial products, including loans, savings accounts, and credit cards, all while investing in local initiatives that make a positive impact. Their “Give Big” culture has garnered them a reputation for being a truly community-driven credit union.

Pros:

• Strong commitment to giving back to local communities
• Offers an extensive range of financial products
• “Give Big” culture sets them apart as a community-driven credit union

Cons:

• Membership limited to residents of select Michigan counties and certain employee groups
• Some members may find the mobile app less user-friendly than competitors

5. Genisys Credit Union

Genisys Credit Union prides itself on its comprehensive lineup of financial products and services, such as loans, mortgages, and investment services. With a strong focus on technology, Genisys offers user-friendly online and mobile banking platforms, making it convenient for members to manage their finances anytime, anywhere.

Pros:

• Comprehensive lineup of financial products and services
• Strong focus on technology, offering user-friendly online and mobile banking platforms

Cons:

• Membership limited to residents of select Michigan counties, certain employee groups, and their families
• Limited branch locations outside of Michigan

6. United Federal Credit Union (UFCU)

UFCU has been serving Michigan communities since 1949, providing a wide range of financial products and services. With a mission to “create a better life for our members,” they offer competitive interest rates on loans and deposit accounts, as well as exceptional member support.

Pros:

• Long history of serving Michigan communities since 1949
• Competitive interest rates on loans and deposit accounts

Cons:

• Membership limited to select employer groups, organizations, and family members
• Limited branch locations in Michigan, with a stronger presence in other states

7. PFCU (Portland Federal Credit Union)

PFCU has a history of over 70 years in serving its members with a personalized approach to banking. They offer competitive rates on loans, mortgages, and deposit accounts, along with a commitment to investing in local communities through charitable giving and volunteer work.

Pros:

• Over 70 years of experience in providing personalized banking
• Competitive rates on loans, mortgages, and deposit accounts

Cons:

• Membership limited to residents of select Michigan counties and certain employee groups
• Limited branch locations, primarily in mid-Michigan

8. TBA Credit Union

TBA Credit Union is dedicated to providing personalized, friendly service to its members. They offer competitive rates on loans, credit cards, and deposit accounts, as well as financial education resources to help members make informed decisions about their finances.

Pros:

• Dedicated to providing personalized, friendly service to its members
• Competitive rates on loans, credit cards, and deposit accounts

Cons:

• Membership limited to residents of select Michigan counties and certain employee groups
• Limited branch locations in Traverse City area

9. Honor Credit Union

Honor Credit Union is known for its commitment to its members and the communities they serve. With a comprehensive range of financial products and services, they aim to simplify the banking experience and help members achieve their financial goals. Honor Credit Union also prioritizes community involvement, regularly supporting local charities and events.

Pros:

• Commitment to its members and the communities they serve
• Comprehensive range of financial products and services

Cons:

• Membership limited to residents of Michigan and select counties in Indiana and Wisconsin
• Some members may find the mobile app less user-friendly than competitors

10. Advia Credit Union

Last but certainly not least on our list of top credit unions in Michigan is Advia Credit Union. Founded in 1938, Advia has grown to serve over 150,000 members across Michigan, Wisconsin, and Illinois. They offer a wide range of financial products, including loans, mortgages, and credit cards, as well as innovative savings and checking account options. Advia is committed to providing financial advantages to their members, focusing on low fees, competitive rates, and excellent customer service.

Pros:

• Founded in 1938, with a long history of serving members across Michigan, Wisconsin, and Illinois
• Wide range of financial products, including loans, mortgages, and credit cards
• Innovative savings and checking account options
• Focus on providing financial advantages to their members, with low fees and competitive rates

Cons:

• Membership limited to residents of select counties in Michigan, Wisconsin, and Illinois
• Limited branch locations in Michigan, primarily in the southwestern region

The Benefits of Banking with the Best Credit Union in Michigan

• Personalized Service

When you bank with a credit union in Michigan, you’re not just another customer—you’re a valued member. Credit unions emphasize personalized service, with staff members often recognizing you by name and understanding your unique financial needs. This personalized approach helps build trust and fosters a long-lasting relationship with your financial institution.

• Competitive Rates and Fees

As not-for-profit institutions, credit unions focus on providing the best possible rates and fees for their members. This means you’ll often find lower interest rates on loans and credit cards, as well as higher rates on savings accounts and certificates of deposit (CDs). Additionally, credit unions typically charge lower fees for services like checking accounts, ATM usage, and overdraft protection.

• Member-Owned and Operated

Credit unions are owned and controlled by their members, which means that your voice matters. As a member, you have a say in the credit union’s governance, including the election of the board of directors. This democratic structure ensures that your credit union prioritizes the needs of its members over profits.

• Focus on Financial Education

Many credit unions in Michigan are committed to providing financial education and resources to help their members make informed decisions. From budgeting workshops to online financial tools, credit unions go the extra mile to ensure their members have access to the information and support they need to achieve financial success.

• Community Involvement

Credit unions are deeply rooted in the communities they serve, often supporting local initiatives and charities through donations and volunteer efforts. When you bank with a credit union, you’re also contributing to the well-being of your community and helping to make a positive impact.

• Access to a Nationwide Network

Despite being local institutions, many credit unions in Michigan participate in shared branching networks and have agreements with other credit unions, giving members access to thousands of branches and ATMs across the country. This means you can enjoy the personalized service of a local credit union while benefiting from the convenience of a larger financial institution.

Joining the Best Credit Union in Michigan: What You Need to Know

Are you considering making the switch to one of the best credit unions in Michigan but not sure where to start? We’ve got you covered! we’ll guide you through the process of joining a credit union in Michigan, from understanding eligibility requirements to opening your first account. Read on to discover how easy it can be to become a member of a credit union that puts your financial needs first.

• Determine Your Eligibility

The first step in joining a credit union is determining if you’re eligible for membership. Most credit unions in Michigan have specific membership criteria based on factors like geographic location, employment, or affiliation with certain organizations. Some credit unions also extend eligibility to family members of current members. To find out if you’re eligible, visit the credit union’s website or contact them directly for more information.

• Research Your Options

Before choosing a credit union, take the time to research your options and compare the products, services, and rates offered by different institutions. Look for credit unions that offer competitive rates on loans and deposit accounts, user-friendly online and mobile banking platforms, and a commitment to personalized service.

• Gather the Necessary Documentation

When you’re ready to join a credit union, you’ll need to provide certain documentation to open an account. This typically includes:

• Proof of eligibility (such as an employee ID or proof of residence in a specific area)
• Valid government-issued ID (like a driver’s license or passport)
• Social Security Number or Individual Taxpayer Identification Number
• Proof of address (such as a utility bill or lease agreement)
• Open Your Account

Once you’ve gathered the necessary documentation, visit the credit union’s branch or website to open your account. You’ll be asked to complete an application and provide the required documents. Most credit unions also require an initial deposit (usually a small amount, like $5 or $25) to establish your membership and open a savings account.

• Choose Additional Products and Services

After opening your account, you can explore the various products and services offered by your credit union. This may include checking accounts, loans, credit cards, and investment services. Take advantage of any financial education resources your credit union provides to help you make informed decisions about the products that best suit your needs.

• Set Up Online and Mobile Banking

To make the most of your credit union membership, set up online and mobile banking. These platforms offer convenience and ease of access to your accounts, allowing you to manage your finances from anywhere, at any time. Many credit unions also offer features like mobile check deposit, bill pay, and account alerts to make managing your money even easier.

Conclusion

Switching to a credit union can make a significant difference in your financial journey. Not only do they offer competitive rates on loans and deposit accounts, but they also prioritize personalized service and a sense of community. This list of the top 10 best credit unions in Michigan is an excellent starting point in finding the right fit for your financial needs. Remember, with a credit union, you’re more than just a number—you’re a valued member of a community that thrives on mutual support and success.

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