Ukrainian Selfreliance Michigan Federal CU: Our History

56 years ago, when Ukrainian Selfreliance Michigan Federal Credit Union opened its doors to serve the Ukrainian community, the basic philosophy that initiated our credit union was to provide a place for members with a common bond to save and use these savings as a source of loans at reasonable rates.

This philosophy of cooperative self-help remains the unique strength of our credit union. It is the foundation on which our credit union was built and the basis of our growth and expansion throughout the years. It is what makes us different from other financial institutions.

We have grown in assets, increased the size of our buildings, opened new branches in other states, and utilize sophisticated technologies; and as always, we measure our success in terms of service to our members.

Board of Directors, Committees and Management:

BOARD OF DIRECTORS

Bohdan Lisowsky – Chair

Lew M. Hryhorczuk, Ph.D. – Vice Chair

Lubomyr Lypeckyj – Treasurer

Bohdan Korduba - Secretary

Roma Dyhdalo

Nestor Rychtyckyj, Ph.D.

Andrew Smyk

Zenon Wasylkevych

SUPERVISORY COMMITTEE

Ihor Kozak - Chair

Roman Maksimowich- Secretary

Bohdan Andrushkiw

GENERAL MANAGER

Borys Bluj

CREDIT COMMITTEE

Zenon Wasylkevych - Chair

Anne Clogg

George Hawiley

John Sowik

1952	Charter is granted to Selfreliance (Detroit) Credit Union to begin operating in the PLAST
1953	Main office moved to 11305 Jos. Campau, Hamtramck
1955	Membership surpassed 1,000
1956	$1,000,000 in assets reached
1957	Building at 11838 Jos. Campau in Hamtramck purchased
1962	Second branch office opened in Warren
1965	Credit union begins issuing travelers checks
1966	Purchased a building on Michigan Avenue and Tarnow in Detroit, for use as the Detroit branch office
1967	Credit union enters the age of computers by converting to an on-line system. First student loan issued
1969	$5,000,000 in assets reached
1971	Acquired five acres of land in Warren for future expansion
1973	Name is changed from Selfreliance (Detroit) to Ukrainian Selfreliance (Detroit) Federal Credit Union
1975	Credit union introduces checking accounts (Share Drafts)
1976	$10,000,000 in assets reached
1978	Credit union moves its main office to its own facility in Warren
1981	$20,000,000 in assets reached
1983	IRA and self-employed pension plan accounts introduced for members
1985	Ukrainian Selfreliance FCU is the first Ukrainian credit union to introduce VISA and MASTER-CARD credit cards for its members
1986	$40,000,000 in assets reached
1988	$50,000,000 in assets reached
1989	In-house computer acquired to modernize operations and improve efficiency
1990	Ukrainian Selfreliance enters into a partnership with the Service Center Corporation to make available additional 22 service centers for members´ convenience
1992	Name is changed to Ukrainian Selfreliance Michigan Federal Credit Union. Credit union hosts Acting Head of the Monetary Policy Department in the National Bank of Ukraine to observe the Western banking system in operation. $70,000,000 in assets reached
1993	Purchased the assets of the Ukrainian-American Credit Union in Florida, thereby adding two branches to service our members. Initiated a cost-effective method of transferring money to Ukraine
1994	$80,000,000 in assets reached
1995	Introduced ATM cards
1996	Signed contract to expand main office in Warren, Michigan. Introduced Auto Leasing Program. $90,000,000 in assets reached
1997	Expanded and modernized main office in Warren, Michigan at a cost of over $1,000,000. Surpassed 100,000,000 in assets. Celebrated 45th Anniversary of CU Opening
1998	Introduced safe deposit boxes for members. Converted to technologically advanced and year 2000 compliant computer system. $110,000,000 in assets reached. Surpassed $7000, 000 in Wire Transfers to Ukraine
1999	Florida branch reached $9,000,000 in deposits. Surpassed $15,000,000 in Wire Transfers to Ukraine. Introduced Market-Index Certificates program. Roth and Educational IRAs introduced
2000	Exceeded $50,000,000 in loans issued to members
2002	Opened branch in Seattle, Washington. Celebrated 50th Anniversary of Ukrainian Selfreliance MI FCU

Ukrainian Selfreliance Michigan Federal CU
26791 Ryan Road
Warren , Michigan 48091-1196
(586) 756-3300
Fax: (586) 756-4316
cuwarren@usmfcu.org