MichiganMichigan credit unions would generally disclose official and alternate names
Michigan-chartered credit unions using alternate names would show both names in public materials and legal or financial documents, except where state or federal rules provide otherwise.
What it does
Michigan-chartered credit unions could use alternate names with advance notice, but the regulator could refuse. They would disclose both names in public materials and legal or financial documents unless other state or federal rules provide otherwise.
Argument forShowing both names could help members recognize which credit union holds their accounts when it advertises under an alternate name.
Argument againstThe regulator’s power to reject alternate names for any reason could make it harder for credit unions to plan name changes.
More detail
Michigan-chartered credit unions could use alternate names. Both names would appear clearly in signs, ads, mailings, and legal or financial documents. Other state or federal laws or rules could provide exceptions to disclosure. The regulator could reject or end use of a name for being confusing, misleading, or any other reason. Credit unions would give written notice at least 30 days before using an alternate name.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Nov 5referred to Committee on FinanceLatest
- Vote recorded PASSED ROLL CALL # 264 YEAS 33 NAYS 0 EXCUSED 5 NOT VOTING 0. Result: pass.Upper
- Nov 5read a first timeMinor
- Nov 5received on 11/05/2026Minor
- Nov 5PASSED ROLL CALL # 264 YEAS 33 NAYS 0 EXCUSED 5 NOT VOTING 0Passed Senate
- Nov 5PLACED ON IMMEDIATE PASSAGE
- Nov 5RULES SUSPENDED
- Nov 5PLACED ON ORDER OF THIRD READING WITH SUBSTITUTE (S-1)
- Nov 5SUBSTITUTE (S-1) CONCURRED IN
- Nov 5REPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITH SUBSTITUTE (S-1)Minor
- Oct 27REFERRED TO COMMITTEE OF THE WHOLE WITH SUBSTITUTE (S-1)Minor
- Oct 27REPORTED FAVORABLY WITH SUBSTITUTE (S-1) 10/14/2026Minor
- Jun 10REFERRED TO COMMITTEE ON FINANCE, INSURANCE, AND CONSUMER PROTECTIONMinor
- Jun 10INTRODUCED BY SENATOR VERONICA KLINEFELTIntroduced
- Nov 5referred to Committee on FinanceLatest
Consumer Protection