The Michigan Credit Union League on Friday endorsed U.S. Rep. Gary Peters for the U.S. Senate.

Peters, a Democrat, declared his candidacy a couple of weeks agofor the seat that will be vacated by U.S. Sen. Carl Levin, alsoDemocrat, who announced his retirement in March.

Levin is Michigan's senior senator and has held the seat since1979.

Since taking office in 2009, Peters has three times co-sponsoredlegislation to raise the cap on credit union member business lending and has publicly stated his support for the credit union taxexemption.

He also co-sponsored and helped pass the Small Business Jobs Actof 2010, and authored the Small Business Credit Initiative, whichfreed up $79 million in federal funding for Michigan-specificlending programs.

“Congressman Gary Peters has been a true champion forreasonable, bipartisan financial solutions that benefit localeconomies, and Michigan credit unions are confident that he willcontinue the fight to move our economy forward as our next U.S.senator,” MCUL & Affiliates CEO David Adams said.

“Congressman Peters has a been a leader in supporting familieson Main Street, and helping small businesses get access tomuch-needed credit and capital that can help them grow and createjobs,” Adams said. “As a U.S. senator, Peters will be anoutstanding advocate for the kinds of changes that will create jobsand opportunity in Michigan and across the nation.”

Michigan news outlets have reported Peters to be the Democraticfrontrunner, after Democratic National Committee member DebbieDingell said she would not run. The last Republican to win a Senateseat in Michigan was Spencer Abraham in 1994, who only served oneterm before being defeated by current U.S. Sen. Debbie Stabenow(D-Mich.)

Peters is scheduled to speak at the Michigan Credit Union League& Affiliates Annual Convention & Exhibition on Saturday inthe Ambassador Ballroom of the Detroit Marriott at the RenaissanceCenter.