Credit Union ONE Member Brief

On September 25, 2010 the NCUA took three out of state wholesale (corporate) credit unions into conservatorship. The actions the federal regulator has taken were meant to stabilize, resolve problems of and reform the corporate credit union system. The NCUA took this action to instill stronger safeguards for credit unions and to protect taxpayers.

The leadership of Credit Union ONE is here to assure our members that:

• CUO and all credit unions in Michigan have federal savings insurance to the same level as that provided to bank depositors ($250,000) and is backed by the full faith and credit of the U.S. government

• CUO has never engaged in any subprime lending, of any kind and we are lending responsibly

• CUO did not have investments in the credit unions affected by the government action taken this weekend

• No tax dollars will be used; credit unions will pay all of the expenses associated with this action

• Although we are not immune from the effects of the economic turmoil or the costs of the reported losses to other credit unions, CUO remains fully committed to its members and is confident in the future

• CUO will make over $200 million of loans this year in Michigan to Michigan residents and we continue to provide a safe harbor for federally insured savings to over 110,000 Michigan residents

Moving forward, CUO intends to maintain our focus on adapting to today’s economic reality and maintaining focus on delivering financial solutions that meet the evolving needs of our members.

Dream Cruise Rocks at Credit Union ONE

Ferndale, Michigan  -  Credit Union ONE is rocking at the Dream Cruise!!  The employees of Credit Union ONE, including our own "Diana" are rocking it out, as they welcome members and joining in the festivities of the cruise.  The branches at Ferndale and Berkley are decked out in full cruise regalia.

Credit Union ONE employees wear their jeans for Children’s Miracle Network

Ferndale, Michigan – Credit Union ONE employees wore their jeans to work on July 2^nd for Children’s Miracle Network (CMN) and raised over $1,400 to be donated to the cause. 

Employees who chose to wear their jeans to work made a donation to CMN for the privilege of dressing casual for that day. 

“Our culture puts our members and communities we serve first,” said Gary Moody, President/CEO of Credit Union ONE.  “Our employees loved the opportunity to wear their jeans to work, so it was a win-win situation.  We are proud that the credit union movement is affiliated with the Children’s Miracle Network, and whenever we get the chance to participate in such as worthy cause we are pleased to be able to do so.”

Credit Union ONE, headquartered in Ferndale Michigan for over seventy years, offers a wide array of financial services and access to over 25,000 ATM’s nationwide, serving 107,000 members, with nineteen offices in three major metropolitan areas, including Metropolitan Detroit, Grand Rapids and Traverse City.

Credit Union ONE participates in Help for Hardest Hit program

Ferndale, Michigan – Credit Union ONE announced that it has received approval to participate in the Michigan State Housing Development Authority (MSHDA) Help for Hardest Hit program. 

As a participant in this program, Credit Union ONE will partner with other financial institutions to help more than 17,000 Michigan households.

“We are pleased to be a part of this program, and are looking forward to working with the many members who are experiencing unemployment or other hardships to help them explore their best options,” said Gary Moody, Credit Union ONE President/CEO.

Michigan’s Help for Hardest Hit program is designed to help homeowners who are currently receiving unemployment compensation, homeowners who have fallen behind in their mortgage payments or taxes due to a temporary layoff or medical emergency, and those homeowners who can no longer afford their mortgage payments due to lower income.  It was developed in partnership with representatives from the Michigan Bankers Association, the Michigan Credit Union League, the Michigan Association of Community Bankers, the Michigan Association of Realtors, the Michigan Foreclosure Task Force and MSHDA’s statewide homeownership counseling network.

Credit Union ONE, headquartered in Ferndale Michigan for over seventy years, offers a wide array of financial services and access to over 25,000 ATM’s nationwide, serving 107,000 members, with nineteen offices in three major metropolitan areas, including Metropolitan Detroit, Grand Rapids and Traverse City.

Credit Union ONE prepares to host Ford Motor Company Mustang Alley for the 2010 Woodward Dream Cruise

Credit Union ONE's corporate headquarters
hosting Mustang Alley

For the third year, Credit Union ONE is preparing to host the Ford Motor Company Mustang Alley, August 21st at the 2010 Woodward Dream Cruise. The Credit Union ONE Center, located on Nine Mile Road in Ferndale, Michigan will once again corral the mustangs for this awesome event that enthusiasts and families will not want to miss.

The collaboration of Credit Union ONE and Ford’s DRIVE ONE theme is a perfect fit, and to add to the partnership, Credit Union ONE will be offering a very special “Cruise Rate” of 3.49%(APR)* for new, used and refinanced autos, from August 9-August 21, 2010. For more information about the special rate, go to cuone.org/auto.