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Michigan Credit Union League

Employee & Building Updates

Wanigas Credit Union 2017 Official Family

Wanigas Credit Union elected their 2017 Board of Directors and Credit Committee at their recent Annual Meeting held at the Horizons Conference Center in Saginaw.

The members of the 2017 Board of Directors include: Sheldon Matthews-Chairperson, Gerald Little-Vice Chairperson, Oscar Gonzales-Treasurer, Michael Balls-Secretary, Lisa Wilson-Director, Valorie Green-Director and Sheldon Matthews II -Director.

The 2017 Credit Committee serving the members of Wanigas Credit Union include: Lynnette Scott, Jennifer Martinez, Michael Malmo and Ja’Lynn Jones.
 

ELGA Credit Union Acquires Valley State Credit Union

In March, the Michigan Department of Insurance and Financial Services (DIFS) announced the acquisition of Valley State Credit Union (VSCU) by ELGA Credit Union. ELGA is headquartered in Burton.

DIFS placed VSCU into conservatorship on August 17, 2016 because of unsafe and unsound practices at the credit union. Then on November 9, 2016, DIFS appointed NCUA conservator of VSCU. Since that time, DIFS and the National Credit Union Administration (NCUA) have been working together to ensure the safety of member deposits.

“The credit union members should be assured that their deposits are protected to the limits prescribed by federal law and they will have continued, uninterrupted access to their funds,” said DIFS Director Patrick McPharlin.

Credit union members and customers of Valley State Credit Union with questions about this acquisition should contact the new ELGA branch office at 989-793-5943.

Deposits at Valley State Credit Union remain protected by the National Credit Union Share Insurance Fund. Administered by NCUA, the Share Insurance Fund insures individual accounts up to $250,000, and a member’s interest in all joint accounts combined is insured up to $250,000. IRA and KEOGH retirement accounts are protected separately up to $250,000. The Fund has the backing of the full faith and credit of the United States government.

Credit union members with questions about insurance coverage can find more information on the MyCreditUnion.gov website, or they may contact NCUA’s Consumer Assistance Center at 800-755-1030 between 8a.m. and 5p.m. (ET).

For more information about DIFS or the services provided, please visit the website at michigan.gov/difs, follow them on Twitter or “Like” them on Facebook.

 

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2017-04-17 00:00:00