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Dedicated to Your Success.
Wolverine State Credit Union is proud to serve members of the state of Michigan. It is our mission to be Michigan’s leading Credit Union, dedicated to the financial success of each member.
We create products and services to help our members reach their financial dreams. We live and breathe our motto, to be Interactional, not transactional. We are more than a financial institution, we are your financial partners.
Serving the State of Michigan Since 2017.
Wolverine State Credit Union was formed in 2017 with the merger of Besser Credit Union and Thunder Bay Area Credit Union. Besser Credit Union was formed to serve the employees of Besser Company the world’s premier manufacture of cement block machines.
Thunder Bay Area CU was originally called Abitibi Employee Credit Union and was formed to serve the employees for the Abitibi a local particle board manufacturer.
The merger of Besser Credit Union and Thunder Bay Area CU has enhanced our members financial experience, providing more resources, better service and an increasing impact on the communities we belong.
Who Can Join?
Wolverine State Credit Union is here to help our members achieve their financial dreams.
To become a member at Wolverine State Credit Union, individuals must live, work, worship or attend school in the State of Michigan. The criteria for membership includes:
- Persons who reside, work, worship or attend school in any county in the State of Michigan
- Employees of Wolverine State Credit Union
- Members of the immediate families of the foregoing
- Any legal entity that is compromised for the most part of the same general group as the membership of the credit union as outlined above.
- A spouse of a deceased member if accepted into membership prior to remarriage
Do you qualify for membership? Joining Wolverine State Credit Union is easy!
Click “Apply Now” and the application will take you through each step. If you are looking to apply for membership for a business account, please call us at 989-356-1880.
Learn About the People Who Run Wolverine State Credit Union.
Get to know the people who serve you! Wolverine State Credit Union is proud serve communities across the Mitten State with a team made up of Michiganders like you.
Interested in working with Wolverine State Credit Union? Use the Careers button below to check out our current employment opportunities.
Core Values
We believe in creating a fun, upbeat atmosphere.
We believe in continuous growth.
We believe in our communities.
We believe in innovation and efficiency.
We believe in accountability to each other, our members and the community.
Interactional,
Not Transactional.
Our mission statement is clear – We are a trusted and innovative financial partner, empowering individuals and businesses to achieve their financial goals while strengthening our communities.
Our vision for the credit union is to be supportive, tenacious and reliable financial navigators, spreading genuine optimism throughout our members’ financial journey.
Frequently Asked Questions
What’s a Credit Union?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled by a board of directors elected by the membership. The board serves on a volunteer basis and may hire a management team to run the credit union. The board also establishes and revises policy, sets dividend and loan rates, and directs certain operations. The result: members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them, not to make a profit.
Who Owns a Credit Union?
Most financial institutions are owned by members, who own a part of the institution and intend on making money from their investment. A credit union doesn’t operate in that manner. Rather, each credit union member owns one “share” of the organization. The user of credit union services is also an owner, and is even entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
How Did Credit Unions Start?
The first credit union cooperatives started in Germany over a century ago. Today, credit unions are found everywhere in the world. The credit union movement started in this country in Manchester, New Hampshire. There, the St. Mary’s Cooperative Credit Association, a church-affiliated credit union, opened its doors in 1909. Today, one in every three Americans is a credit union member.
What is the Purpose of a Credit Union?
The primary purpose in furthering their goal of service is to encourage members to save money. Another purpose is to offer loans to members. In fact, credit unions have traditionally made loans to people of ordinary means. Credit unions can charge lower rates for loans (as well as pay higher dividends on savings) because they are nonprofit cooperatives. Rather than paying profits to members, credit unions return earnings to members in the form of dividends or improved services.
Are Savings Deposits Insured?
Yes. All savings accounts are insured up to $250,000 by the NCUA, the National Credit Union Administration, an agency of the federal government.
Who Can Join a Credit Union?
A credit union exists to serve a specific group of people, such as a group of employees or the members of a professional or religious group. This is called a “field of membership.” The field of membership may include where they live, where they work, or their membership in a social or economic group.