A credit union is a cooperative financial institution which is owned and controlled by its members privately. Credit unions are different from banks and other financial institutions because it is the members who have accounts in the institution who are the owners of the credit union.
Michigan First Credit Union opened in 1926 and has since then provided its members with financial stability. This credit union has more than $470 million in assets, serving over 70,000 members. Michigan First’s field of membership includes over 44 cities and communities in the Detroit metropolitan area, totaling approximately 800,000 households as well as the students, alumni and staff of more than 47 educational organizations and hundreds of private and charter schools. In order to become a member of the Michigan First Credit Union you must live in the metropolitan Detroit area (a list of all the cities can be found on the site) or be a student, alum, staff or family member of one of the educational facilities. Members benefit from online banking and bill paying, direct deposit, payroll deduction, financial counseling, safe deposit boxes, youth programs, scholarship opportunities, auto and homeowners insurance, overdraft protection, and many other services. 
