SOUTHFIELD, Mich.—Michigan has joined eight other states in signing the 2015 Nationwide Cooperative Agreement for the Supervision of State-Chartered Credit Unions, which facilitates the ability to operate across state lines.
“This agreement eases procedural impediments when interstate branding is a viable choice,” said Ann Flood, director of Michigan’s Department of Insurance and Financial Services, in a released statement. “Michigan credit unions retain the ability to seek branches in other states subject to host state review.”
Michigan, Idaho, Ohio, Indiana, Kentucky, Oregon, Washington, West Virginia and Wisconsin developed the agreement in conjunction with the National Association of State Credit Union Supervisors (NASCUS).