Chippewa Indians Get Own CU

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MOUNT PLEASANT, Mich. – Chippewa Eagle FCU, a new credit union that will serve members and employees of the Saginaw Chippewa Tribe and their families and one of only three new charters last year, opened its doors yesterday.

The new credit union is sponsored by the Saginaw Chippewa, who were recognized as a Native American tribe under the treaties of 1886.

The credit union start up initially will offer regular shares, club accounts, money market shares, share certificates, and share drafts, or checking-type accounts, and a variety of personal loans. After two years, it will be able to make mortgage loans.

Other planned services may include credit cards, unsecured lines of credit, individual retirement accounts and member business accounts.

Officials said as many as 500 people have become members already.


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