TRAVERSE CITY, Mich. — Nine credit unions in northern Michigan have joined together to provide $500 micro-grants to members affected by severe flooding that struck the region this spring.
The Northern Michigan Flood Relief Fund was created through the Paul Bunyan Chapter of the Michigan Credit Union League in response to flooding that impacted communities across northern Michigan, according to reporting by 9and10News.com.
The fund is supported by contributions from the participating credit unions, as well as the Michigan Credit Union League and the Municipal Credit Union League.
Effort Came Together Quickly
Karen Browne, president and CEO of TBA Credit Union, told 9and10News.com the effort came together quickly once the extent of the damage became apparent.
“I reached out to all of the CEOs and said, ‘Hey, there’s a need, we’ve got some money,’” Browne said, according to the report. “And if we all contribute more money, we can institute these micro-grants for our community.”
The initiative was also spearheaded by David Powell, a credit union employee and mayor of Cadillac, who said the flooding highlighted the need for a coordinated community response.
“Once the flooding had started, we were just wanting to feel more of the community sense,” Powell said, according to 9and10News.com. “I felt it was needed for all nine of our credit unions to get together and help our community and feel like one.”
‘Reflection of Cooperative Principles’
Browne said the collaboration reflects the cooperative principles that distinguish credit unions from traditional banks.
“You don’t see that with banks or other financial institutions,” Browne said in the report. “That’s what’s special about credit unions; we started on the foundation of people helping people, and that’s still who we are today.”
According to the report, the participating credit unions collectively serve members across 13 northern Michigan counties, including:
- Grand Traverse
- Benzie
- Antrim
- Manistee
- Kalkaska
- Leelanau
- Emmet
- Charlevoix
- Missaukee
- Osceola
- Lake
- Mason
- Wexford
Organizers said the flooding left many families dealing with damaged homes, emergency expenses, lost income and displacement.
“This isn’t a loan,” organizers said in materials cited by 9and10News.com. “This is our community coming together for yours.”
The Participating CUs
To qualify for assistance, applicants must be current members of one of the nine participating credit unions:
- 4Front Credit Union
- Filer Credit Union
- Forest Area Federal Credit Union
- Frankfort Community Federal Credit Union
- Northwest Consumers Federal Credit Union
- Safe Harbor Credit Union
- TBA Credit Union
- Traverse Catholic Federal Credit Union
- Wexford Community Credit Union
