Question 1

What is Community Financial Credit Union?

Accepted Answer

Community Financial Credit Union is a state-chartered, full-service financial institution headquartered in Plymouth, Michigan. With approximately $1.48 billion in assets and over 83,000 members, it serves communities throughout southeast and northern Michigan.

The credit union operates on a cooperative model where members are also part-owners, each having an equal vote in governance regardless of account size. Community Financial is recognized for its community impact focus, operating under the motto "Dream Wild" and emphasizing their mission of creating joy and helping Michiganders achieve their "Impossible Dreams."

Question 2

When was Community Financial Credit Union founded?

Accepted Answer

Community Financial Credit Union was founded in 1951 as Daisy Employees Federal Credit Union. The credit union was established by employees of the Daisy Manufacturing Company who sought better financial services and wanted to help each other through cooperative banking.

The founding was marked by determination and grit—no one took a salary initially, and in August 1951, they earned just $1 in interest against $55 in expenses. Despite these challenges, the founders never wavered, driven by the belief that people deserved better financial services. Over the decades, the name has changed and membership has expanded, but the original mission of relentless care and personal service remains central to the institution's identity.

Question 3

Where is Community Financial Credit Union headquartered?

Accepted Answer

Community Financial Credit Union is headquartered at 500 South Harvey Street in Plymouth, Michigan. The Plymouth location serves as the administrative center for the credit union's operations across the state.

Question 4

Where does Community Financial Credit Union operate?

Accepted Answer

Community Financial Credit Union operates 14 branch locations throughout southeast and northern Michigan. Branches are located in Plymouth, Canton (2 locations), Northville, Livonia (2 locations), Detroit (2 locations), Westland, Wixom, Novi, West Bloomfield, and several northern Michigan communities including Gaylord (2 locations), Lewiston, Hillman, and Atlanta.

Membership is available to anyone who lives, works, attends school, or worships in Michigan. The credit union requires just a $5 deposit to establish membership. This broad field of membership allows Community Financial to serve Michiganders across a wide geographic area.

Question 5

What services does Community Financial Credit Union offer?

Accepted Answer

Community Financial Credit Union provides comprehensive banking services including share savings accounts, checking accounts (including their "CloseEnuff" cashflow checking), high-yield savings accounts, certificates of deposit, and money market accounts.

Loan products include auto loans, personal loans, home equity loans, mortgages, student loans, and credit cards. The credit union also offers business banking services, business accounts, and commercial lending.

Digital services include mobile banking apps, online banking platforms, digital wallet integration, and access to thousands of surcharge-free ATMs. Members can also access investment and insurance services through partnerships with TruStage Insurance and investment advisory services. Youth programs include the Greenlight Teen Savings program and student-run credit union initiatives that teach financial literacy.

Question 6

What makes Community Financial Credit Union unique?

Accepted Answer

Community Financial Credit Union distinguishes itself through its strong community impact focus and innovative member benefits. The credit union operates the Relentless Care Foundation, which supports community initiatives including affordable housing, financial education, and youth programs. In 2024, their Student Credit Union members saved $47,782 while learning financial skills.

The credit union launched a national research platform in 2025 to help credit unions develop community solutions. They've been recognized with multiple awards including being named Michigan's best-in-state credit union for two consecutive years. Their "Dream Wild" philosophy emphasizes helping members achieve their financial goals while maintaining their heritage of putting member welfare first.

Community Financial offers unique features like high-yield savings with competitive APYs, the 52-Week Savings Challenge for automated savings, and programs like "Grow Your Change" that help members build savings effortlessly. Their focus on belonging and inclusion creates a distinctive member experience centered on personal connection and community impact.

Question 7

What type of financial institution is Community Financial Credit Union?

Accepted Answer

Community Financial Credit Union is a state-chartered credit union regulated by the state of Michigan and insured by the National Credit Union Administration (NCUA). As a credit union, it operates as a not-for-profit cooperative financial institution owned by its members.

Unlike banks that serve stockholders, credit unions serve their member-owners who each have equal voting rights regardless of account balance. This structure allows Community Financial to focus on member benefits rather than profit maximization, often resulting in better rates on loans and deposits. The credit union maintains strong financial health with a net worth ratio of 10.41% and remains well-capitalized according to regulatory standards.

Community Financial Credit Union

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About Community Financial Credit Union in the United States