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Established in 1926 as the Detroit Teachers Credit Union, Michigan First became the largest teacher’s cooperative in the world by 1952 and during the 1960s, it held that title until the $62 million Navy Federal Credit Union in Vienna, Va., took over the top spot. The cooperative changed its name to Michigan First Credit Union in 2001.

The idea for Michigan First Credit Union to open its own mortgage CUSO happened by accident.

Peter Strozniak

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