Michigan Credit Unions Report Increase in New Accounts

The Michigan Credit Union League announced Friday that credit unions in the state have seen an uptick in membership over the past month, following announcements from the big, nationwide banks that some planned to impose fees for debit card usage.

Michigan credit unions gained 27,900 new members between Sep. 29 and Oct. 29, according to a press release. That's about the same amount that joined in total last year.

At – with locations in Northville, Plymouth, Canton and Novi – there has also been an increase in membership, a spokesperson said.

The credit union's marketing manager Sarah Cousineau said Friday that there has been an overall membership increase of 30 percent in October 2011 compared to October 2010 at Community Financial.

"Our branches have been busy," she said. "We’re hearing that it’s because of the things that are happening in the news and the banking industry."

Community Financial will be holding an open house Saturday to introduce potential members to the credit union experience.

"We’re just wanting people to know how credit unions are different. We really believe that credit unions are a great alternative," Cousineau said.

It will be held at all of its locations from 10 a.m. until 1 p.m.

Some of the key points Community Financial hopes to stress to visitors are that credit unions are not-for-profit, meaning that it is a cooperative owned by the members, she said. Cousineau also said that Community Financial still offers free checking accounts for members. She also said there is a more personal experience to be had at a local credit union versus a big bank.

Since Bank of America first proposed a debit card fee, customers opposed it so loudly that they announced that they .