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Find clear answers to common questions about banking, borrowing, mortgages, business services, digital tools and more. Browse by topic to quickly find the information you need - or contact Michigan First if you’d like personalized help.
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Michigan First deposits are federally insured by the National Credit Union Administration (NCUA) for up to $250,000 and privately insured by Excess Share Insurance for up to an additional $250,000. Together, this provides up to $500,000 in coverage for qualifying deposits based on account ownership category. Coverage applies to eligible checking, savings, money market, and certificate accounts.
Both savings and money market accounts can help your money grow while keeping it accessible. A traditional savings account generally has a lower opening deposit and is suited to everyday saving, while a money market account may offer higher, tiered dividend rates based on your balance. Michigan First Money Market Accounts also provide access to funds through digital banking, branches, ATMs, and a debit card.