LANSING, Mich. (12/21/11)--The Michigan Credit Union League (MCUL) & Affiliates' Board of Directors voted at its December meeting to cut membership dues again.
Its dues is already the lowest in the nation, the league said (Michigan Monitor Dec. 19). The league cut dues by 40% in 2001 and an additional 35% in 2010 and 2011.
The board voted to maintain the discounted dues levels for 2012 as a result of strong income from subsidiaries, high member capital at the league, and the desire to keep the cost low for member credit unions.
It also authorized an additional 50% rebate of 2011 dues, to be returned to member credit unions by year end. Credit unions paying dues by check will receive a rebate check in the affiliation package. Those paying by electronic funds transfer will see the rebate deposited into their account on Dec. 29.
"Our members' support is the reason for all of our success, and it's fitting that they should also benefit financially," said MCUL & Affiliates CEO David Adams.