A federal appeals court, ruling against the banking industry, has allowed a Michigan credit union to expand its membership base dramatically.

The decision -- by the U.S. Court of Appeals for the Sixth Circuit -- comes from the highest court yet to rule on the controversial "common bond" question. It also makes Michigan the third state in which bankers have failed to block credit union growth.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.