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Warren, Mich. — November 26, 2019 —Michigan Legacy Credit Union (MLCU), bringing fintech advances to the credit union industry in Michigan, is pleased to announce the Michigan Department of Insurance and Financial Services has approved MLCU’s request for an expanded field of membership. Effective November 6, 2019, MLCU membership is open to anyone living, working, worshipping, attending school, or owning a business registered in the State of Michigan. Previously, membership was limited to those meeting the criteria in Wayne, Oakland, Macomb, Monroe or Livingston counties. The announcement was made by MLCU President and CEO Carma Peters.
With six physical branch locations in Flat Rock, Garden City, Highland, Pontiac, Warren and Wyandotte, MLCU currently has over 20,000 members and $211 million in deposits. Peters says MLCU, which prides itself on relational lending based on people and not a credit score, is well positioned for the state-wide expansion.
“The expanded field of membership will bring additional deposits and allow customized lending to enhance consumer and business banking options for all members,” Peters said. “Nearly 93% of our transactions and member interactions are done online, so the geographic footprint and affordability of our current physical branch network, combined with 206 Xtend CU Shared Branches creating a credit union branching environment throughout the entire State of Michigan, will continue to work well for us strategically.”
About Michigan Legacy Credit Union
Michigan Legacy Credit Union (MLCU) is a member-owned, not-for-profit financial cooperative serving members who live, work, worship, attend school, or own a business in the state of Michigan. Michigan Legacy Credit Union is committed to providing quality financial services at a competitive price delivered professionally and efficiently while keeping member/owners and their needs first. For additional information on MLCU, visit: www.michiganlegacycu.org.