Credit unions now seeing more activity than banks

The 13 credit unions in the Lansing serving more than 455,000 members have seen significant increases in activity over the past year.

According to excerpts from the article:

Meanwhile, Michigan credit union deposits grew about 7.5 percent during that same period, from $31.7 billion to $34.1 billion, according to the National Credit Union Administration.

That trend continued throughout the year. Credit unions reported $34.5 billion in shares and deposits at year-end, up from $32.5 billion in 2009.

Read the entire article here.