The card will allow members to apply earned cash back toward their balance each month.
Michigan First Mortgage has 30 employees and two branches.
By deliberately lending more to members with near-prime credit scores and not as much to members with prime scores, two credit unions are beefing up their balance sheets.
Of consumers who switched primary credit cards, 42% cite dissatisfaction with the card's rewards program, J.D. Powers says.
The card will also feature a series of rebates on Wal-Mart purchases.
Move comes after Palmetto Health Credit Union experienced financial losses tied to transactions in several states.
Younger consumers continue to have lower debt levels.
The credit union owned POS and ETF network adds to its total of $17.5M dividends paid back to owners since its inception.
Trade group says retailers are not subject to same data security standards as credit unions.
Cards used at 51 franchised stores between Jan. 20 and Aug. 11 may have been compromised due to malware.