Michigan CUs Flock to Career Transition Program

LANSING, Mich. – More than 40 credit unions have pitched in to pledge $40 million in low-interest loans to fund the state’s Career Transition Program. The loans-made at 50 basis-point discounts, will help tens of thousands of auto workers finance supplemental education to transition into new careers. The state is also providing $2 million to pay for books and other ancillary items for the retraining program. DCFU Financial, the state’s largest credit union which serves Ford workers, had pledged the largest amount of loans $10 million worth. Other participants include USA FCU, T&C FCU, BestSource CU, Lansing Automakers FCU, First Community FCU, NuUnion CU, Cornerstone Community FCU, Co-Op Services CU, United Financial CU and Communications FCU.