Question 1

What is Alliance Catholic Credit Union?

Accepted Answer

Alliance Catholic Credit Union is a faith-based financial cooperative serving Catholic communities throughout Michigan. With over $653 million in assets and more than 32,000 members, it is Michigan's largest Catholic credit union.

The credit union provides trusted financial services inspired by Catholic values and traditions. It serves individuals who live, work, worship, or study at Catholic schools, parishes, and organizations across the state.

Question 2

When was Alliance Catholic Credit Union founded?

Accepted Answer

Alliance Catholic Credit Union traces its origins to May 1956, when Guardian Angels Parish Credit Union in Clawson, Michigan received its charter. The credit union was founded by Catholic parishioners seeking a trusted financial option grounded in faith.

Over nearly seven decades, Alliance Catholic evolved through numerous mergers of parish-based credit unions. In September 1969, St. Anastasia Parish joined, creating Tri-Parish Credit Union. By October 1974, it became Oakland Catholic Credit Union after adding St. Columban, Our Lady Queen of Martyrs, and Holy Name parishes.

In January 2005, the field of membership expanded statewide, and Oakland Catholic became Michigan Catholic Credit Union. After merging with Lansing Area Catholic Credit Union (2007) and Members Choice Credit Union (2008), it merged with First Catholic Federal Credit Union in January 2013 to form Alliance Catholic Credit Union as it exists today.

Question 3

Where is Alliance Catholic Credit Union headquartered?

Accepted Answer

Alliance Catholic Credit Union is headquartered at 28800 Orchard Lake Road in Farmington Hills, Michigan. In November 2021, the credit union opened its new administrative building at this location, which also serves as the home of the Alliance Catholic Foundation.

The Farmington Hills headquarters houses the credit union's leadership and administrative operations. The facility includes branch services for members in the greater Detroit metropolitan area.

Question 4

Where does Alliance Catholic Credit Union operate?

Accepted Answer

Alliance Catholic Credit Union operates exclusively in Michigan with 12 branch locations throughout the Detroit metropolitan area and surrounding communities. Branch locations include:
• Farmington Hills (headquarters)
• Detroit (W Vernor Hwy location opened in October 2018)
• Sterling Heights
• Troy
• Rochester
• Shelby Township
• West Bloomfield
• Dearborn
• Taylor
• Allen Park
• Livonia (Madonna University location)
• Detroit (University of Detroit Mercy location)

The credit union holds a statewide field of membership charter for Michigan, welcoming anyone who lives, works, worships, or studies at Catholic schools, parishes, and organizations throughout the state. Members also have access to a nationwide network of shared branches and ATMs through the CO-OP Network.

Question 5

What services does Alliance Catholic Credit Union offer?

Accepted Answer

Alliance Catholic Credit Union provides comprehensive financial services designed to meet the needs of its Catholic community members:

Deposit Accounts: Share savings accounts, checking accounts that pay dividends, certificates of deposit, and individual retirement accounts (IRAs).

Lending Products: Mortgage loans (fixed-rate and adjustable-rate), home equity loans and lines of credit, auto loans for new and used vehicles, personal loans, credit cards, and business loans.

Digital Banking: Mobile banking app available for iOS and Android devices with mobile deposit, online banking platform with bill pay, account transfers, and remote teller services connecting members to headquarters staff from branch locations.

Additional Services: Wealth management and investment services, insurance products, financial education resources and workshops, homebuyer education programs, and money orders.

The credit union emphasizes low loan rates, competitive dividend rates on deposits, and lower fees compared to traditional banks as benefits of its member-owned cooperative structure.

Question 6

What makes Alliance Catholic Credit Union unique?

Accepted Answer

Alliance Catholic Credit Union distinguishes itself through its deep commitment to Catholic values and community service. The credit union operates according to Catholic social teaching principles, including subsidiarity and community-driven finance.

Faith-Based Mission: The credit union's operations are grounded in Catholic traditions, serving as a "financial guardian angel" for Catholic communities while remaining open to all who qualify for membership.

Community Investment: The Alliance Catholic Foundation awards scholarships including the annual "Live It. Show It. Share It." scholarship program that provides $20,000 to 10 students attending Catholic schools in the Archdiocese of Detroit. The credit union sponsors the Alliance Catholic Credit Union Arena at Madonna University, supports Catholic Charities of Southeast Michigan's Walking With Moms in Need program, and hosts community events like the Detroit Catholic Young Adult Soccer League.

Merger Heritage: Alliance Catholic represents the unification of numerous parish-based credit unions that served immigrant and working-class Catholic communities since the 1950s. This legacy reflects the credit union movement's original purpose of providing financial services to underserved populations.

Member Governance: The credit union is governed by a volunteer board of directors composed of members who ensure the institution prioritizes member interests over profit maximization.

Question 7

What type of financial institution is Alliance Catholic Credit Union?

Accepted Answer

Alliance Catholic Credit Union is a federally chartered credit union regulated by the National Credit Union Administration (NCUA). Its charter number is 61759.

As a credit union, it operates as a not-for-profit financial cooperative where every account holder becomes a member and owner. This cooperative structure means earnings are returned to members through higher dividend rates on deposits, lower loan rates, and reduced fees rather than being distributed to outside shareholders.

Membership Requirements: Eligibility is based on a common bond within the Catholic community. People who live, work, worship, or study at Catholic schools, parishes, and organizations in Michigan qualify for membership. Family members of existing members are also eligible to join.

The credit union's deposits are federally insured up to $250,000 per depositor by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government.

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