Thoughts from 2019!

I firmly believe that continued growth is the best way to describe all that has happened at the credit union during 2019. Our primary focus is on delivering the highest quality products, technology, and service, and that has generated an increase in memberships and business conducted with the credit union. Our 450+ person team works day and night to make sure members are satisfied and receive great value from their membership.

Here are some of the growth actions and success highlights from 2019:

  • We now have over 160,000 members, and our total assets are greater than $975 million. This represents a growth of over $50 million during the year.
  • More than $150 million in consumer loans were granted to members.
  • Our 365 Live Call Center continues to serve members around-the-clock, with total calls for the year exceeding 500,000.
  • More than 97% of members were served within seven minutes at our teller lines.
  • Almost 90% of members visiting our financial service representatives received service within 10 minutes. This represents close to 140,000 visits to our branches.
  • We expanded even further this year, opening Walmart branches in Wyoming, Comstock Park, Grand Rapids, and Sterling Heights. We also added a new Kroger branch in Ypsilanti. We now have ten branches inside Kroger stores and nine in Walmart stores.
  • Michigan First Insurance Agency continues to be the fastest growing credit union insurance agency in the country. Our purpose is to help members find reasonable prices on insurance of all types. We recognize that not all members can get lower prices all the time, but we encourage them to keep trying as circumstances and carriers can frequently change. We have achieved total annual premiums of over $8 million in just three years of being in business.
  • The Michigan First Mortgage team, a division of the credit union, has grown significantly during the year. We opened a new location in downtown Plymouth and generated total loan originations of $230 million, an increase of $80 million from last year.

During 2020, expect to see:

  • Efforts to reduce pricing for members.
  • Seminars and other educational resources focused on credit score improvement.
  • At least one more in-store location – a Kroger branch in Sterling Heights.
  • Continued growth for Michigan First Mortgage and Michigan First Insurance Agency.
  • More features added to our mobile app, which will make on-the-go banking even easier.

For many years now, you have continued to provide us with additional business, referrals, and great loyalty. Thank you for the opportunity to serve you; we truly view it as a privilege. On behalf of the Board of Directors, Supervisory Committee, and the entire Michigan First team, I wish you a safe, healthy, and prosperous 2020.

Michael Poulos, President/CEO

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  1. Janice Winfrey

    Thank you Michael for your hard work and all of the progress made under your leadership. From the name change to the new main office/headquarters, you make us better.