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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.

“With the mortgage CUSO we were using, we were seeking some changes in the way mortgages were done for our members and realized with the change in leadership that probably was not going to happen,” Michael Poulos, president/CEO of the $693 million Michigan First Credit Union, explained.

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Peter Strozniak

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