Credit Union ONE

In 1938, the middle of the Great Depression, a small group of individuals joined together to establish the Ferndale Co-Operative Credit Union.  Although the business was very modest in the beginning, (it did business in a church basement) its members now number more than 160,000, and they offer a full range of financial services throughout Michigan.  They have 25 branches located throughout the Metro Detroit, Grand Rapids and Traverse City areas, but as members of the Co-Op Network, they are entitled to surcharge-free access to 25,070 ATMs throughout the United States and Canada. At Credit Union One their commitment is and always has been “People Helping People.”

Unlike many credit unions, Credit Union ONE requires no particular affiliation so everyone is welcome to join. Member of a credit union, are owners of the company rather than simply customers, as is found with other financial institutions. The only requirements are that a prospective member establish a Share Account with at least $5 and maintain that balance at all times.  There is also a twenty-five cent bond fee that allows you to vote at Annual Meetings.  That’s it! 

As soon as an account is open, the new member becomes a full-fledged shareholder of Credit Union ONE and can participate in any of the programs and services it offers.  These programs and services include: four different checking account programs; savings account; money market accounts; certificates of deposit; holiday savers and vacation club accounts.  In addition, Credit Union ONE offers online banking; bill pay, financial planning, online stock investing, and auto and home insurance, along with several loan programs credit card, new and used auto loans, home equity (2nd mortgage) loans and several home mortgage loans.

Sample of Home Loans Offered by Credit Union One

• 40-year fixed rate

• 30-year fixed rate

• 30-year fixed with 10-year interest only period

• 15-year fixed rate

• 5-year adjustable rate

• 5-year adjustable with 5-year interest only period

• MSHDA mortgages (Michigan State Housing Development Authority)

• Vacant land loans

• Stated Income Products (for the self-employed)

• No Closing cost options

• Unique ARMs (Adjustable Rate Mortgages) with up to 40-year amortization

What Credit Union ONE Offers the Community

In addition to its financial services, Credit Union ONE offers advice/tips to business owners on a variety of different topics, and has an upcoming Homebuyers Seminar -- a free seminar designed to provide information and tools needed to become a well-informed homebuyer.

This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states. Mortgage Info makes no representation, express or implied, that you will receive a quote from any companies profiled on this site.