New Mt. Pleasant-based CU Receives Charter from NCUA (Monitor: May 31, 2010)
The second credit union charter issued by the NCUA in 2010 has gone to another Michigan startup, Chippewa Eagle FCU, which will be based in Mt. Pleasant for members and employees of the Saginaw Chippewa Indian Tribe.
The credit union plans to open its doors in August to a membership of roughly 7,800, initially offering multiple savings accounts including regular shares, club accounts, money market shares, share certificates, and share drafts. It also plans to offer a variety of personal loans. Financial education outreach will operate in conjunction with existing tribal efforts.
"The Michigan Credit Union League has been actively assisting with the chartering of Chippewa Eagle FCU, and we’re excited to see the charter approval and now look forward to welcoming the credit union as only the second new charter in Michigan in the past 20 years," said MCUL President/CEO David Adams. "This credit union appears well-positioned to do a lot of good for their new members."
Debbie Matz, NCUA chairman, issued a statement May 25 expressing support for the new credit union:
“I am pleased to welcome the Saginaw Chippewa Indian Tribe into today’s thriving credit union community,” Matz said. “As Chippewa Eagle Federal Credit Union celebrates the approval of its new charter, I commend its leaders for their spirit of enterprise and their commitment to serving the local community.”
The first new charter of the year was issued to Inspire CU, based in Battle Creek, which plans to open its doors June 14.