The card will allow members to apply earned cash back toward their balance each month.
Michigan First Mortgage has 30 employees and two branches.
From Delaware to New Mexico, learn about average student loan balances and which credit unions are active in student lending.
Learn about holiday lending, near-prime paper and more in this week's Focus Report.
By deliberately lending more to members with near-prime credit scores, credit unions are beefing up their balance sheets.
With autumn nipping at the heels of the last days of summer, credit unions are already gearing up to roll out their holiday loan programs.
A credit union books $290K in holiday loans and brings in another $309K by cross-selling other loans.
The increase in loan volume results in two consecutive quarters of total revenue growth, the industry's best numbers in five years.
Program is part of the bureau’s “Know Before You Owe” mortgage initiative.
Credit union leaders say they already consider FICO's changes when underwriting loans for members.