Chippewa Eagle Federal Credit Union, serving members and employees of the Saginaw Chippewa Tribe, opened Monday.
The Mount Pleasant, Mich., credit union is sponsored by the Saginaw Chippewa, who were recognized as a Native American tribe under the treaties of 1886. The credit union initially will offer regular shares, club accounts, money market shares, share certificates, and share drafts, or checking-type accounts, and personal loans.
After two years it will be able to make mortgages. Other services may include credit cards, unsecured lines of credit, individual retirement accounts and member business accounts.
Officials said that as many as 500 people have become members of the credit union.