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Michigan Credit Union League Home » Information Services » Publications » Contact » 2008 » 2nd Quarter  

A Rock In The Storm

The Winds and Waves of Tough Economic Times Test Everyon'e Mettle.
Michigan Credit Unions are Passing that Test in Impressive Fashion.

What to say about Michigan’s economy?  Employment sharply down, foreclosures sharply up, state and local government struggling to pay their bills, a steady trickle of emigrants — particularly the young — seeking jobs and opportunity elsewhere.  In describing the current economic climate, the storm metaphor is certainly fitting, as Michiganians struggle and brace themselves in the face of some pretty cruel winds and waves.

No Michigan citizen, business or organization is immune from the effects of a sour economy, credit unions included.  And yet, some definitely fare better than others.  While many ships share the fate of the Edmund Fitzgerald, others emerge from the tempest like Forrest Gump’s shrimp boat Jenny — safe, intact and prospering.

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