financial services founded 1950 headquarters dearborn michigan united states key people dr. robert chapman chairman of the board mark shobe president and ceo products savings ; checking ; consumer loans ; mortgages ; credit cards ; online banking total assets 3 billion usd 2010 website dfcufinancial.com dfcu financial is a state chartered credit union headquartered in dearborn michigan regulated by michigan s department of licensing and regulatory affairs lara . 1 dfcu financial is michigan s largest credit union . 2 as of october 2010 dfcu financial had approximately 3 billion in assets 219 000 members and 24 branches in metro detroit ann arbor grand rapids and lansing . 3 4 eligibility for membership is extended to anyone who lives works or worships in the 68 counties of the lower peninsula of michigan . member deposits up to 250 000 in dfcu financial are insured through the national credit union share insurance fund . contents 1 history 2 bank conversion opposition 3 recent mergers 4 operations 5 references 6 external links history edit ford engineering employees federal credit union was founded by employees of ford motor company engineering and styling in february 1950 . the dearborn michigan credit union changed its name to ford dearborn federal credit union in 1954 and then to dearborn federal credit union in 1960 . in 2003 the credit union renamed itself dfcu financial . 5 bank conversion opposition edit in december 2005 dfcu announced that it was seeking to convert to a mutual savings bank in order to expand geographically . 6 ncua initially rejected the member ballots that dfcu wanted to use for the conversion vote . 7 in march 2006 the credit union mailed ballots to its members enticing them to vote with cash prizes of up to 5000 . 8 dfcu encountered strong opposition to its conversion plans from its membership and the credit union community . 9 michigan governor jennifer granholm herself a member of dfcu urged the membership to carefully review the credit union s disclosures . 10 dfcu spent 1.2 million in its efforts to convince its membership to vote for the conversion and refused to release minutes from meetings of the board of directors to the membership . members of the credit union formed a group called dfcu owners united to oppose the conversion . 11 the member group gathered 1762 signatures on a petition to recall the board of directors . after receiving the petition dfcu withdrew its application to convert to a bank . 12 despite being required by its bylaws to hold a special membership meeting within 30 days of receiving the petition dfcu refused to do so based on federal law . 13 members filed a lawsuit against the credit union and a michigan court ruled in favor of the members in march 2008 . 14 recent mergers edit in 2009 dfcu financial merged with capcom credit union . 15 capcom was founded in the 1930s as the municipal employees credit union by firemen in lansing to serve municipal employees . the municipal employees credit union grew through mergers over the years most recently merging with citizens choice spartan stores allied builders & contractors and capital community credit union lsi financial . the merger was approved by ncua in november 2008 . the merger required approval from dfcu financial members since the capcom state charter was going to be the surviving charter . the vote was approved by the dfcu financial membership and on march 1 2009 the merger was finalized . an official letter announcing a merger with midwest financial credit union of ann arbor was mailed to members on june 15 2010 . midwest financial had been formed to serve employees of the university of michigan health system . members of midwest financial approved this merger effective october 1 2010 . the computer system integration was completed on march 28 2011 . 16 with this merger dfcu financial gained a presence in washtenaw county with five branch locations . operations edit dfcu financial operates neighborhood branches and atms in several michigan communities . southeast michigan neighborhood locations include ann arbor canton commerce township dearborn garden city livonia madison heights riverview and ypsilanti . on july 15 2011 dfcu financial announced that it had broken ground on a new novi branch on ten mile road near haggerty . this new branch is scheduled to open by the end of 2011 . 17 outside of southeast michigan dfcu financial has three neighborhood branches in lansing and four in grand rapids that were acquired with the merger of the former capcom credit union . dfcu financial recently announced in july 2011 that its branch in greenville also acquired from capcom credit union would close in august . 18 in addition to neighborhood branch locations dfcu financial also operates branches on the campuses of henry ford health system in detroit and university of michigan health system in ann arbor . atms are also found in some local workplaces including hospitals ford motor company sites in dearborn and ge avionics in kentwood . 19 references edit ofir detailed information for a credit union dfcu financial michigan department of licensing and regulatory affairs retrieved may 12 2011 about dfcu financial . top work places . updated corporate profile from midwest merger page . dfcu financial . dfcu financial plans to acquire midwest financial fcu credit union national association june 16 2010 journal daily . banking wire . 21 january 2003 . watt chad eric . start up bank files for state charter in royse city . dallas business journal . 30 december 2005 . roberts ed . conversion bid could head to capitol hill . credit union journal . 6 february 2006 . ortiz lauralee . conversion voting packets mailed cu opponents now try to win votes for their side . banking wire . 7 april 2006 . diekmann frank j. 2 cos. worth praising 1 cu turning point worth noting . credit union journal . 27 march 2006 . gov. granholm to dfcu financial members carefully review the disclosures that will be mailed to you by the credit union ... and determine for yourselves what is in the best interest of you the members of the credit union . . pr newswire . 30 march 2006 . ortiz lauralee . what members are also alleging . credit union journal . 17 april 2006 . ortiz lauralee . dfcu financial withdraws bid to convert to bank group is proceeding with plan to recall the board . credit union journal . 24 april 2006 . ortiz lauralee . the michigan case dfcu conversion attempt controversy still boiling . credit union journal . 6 november 2006 . morrison david . cu to bank charter changes dwindled as 2008 came to a close . credit union times . 24 december 2008 . sanchez mark . dfcu financial targets ambitious growth . west michigan business . 23 july 2009 . 1 dfcu financial.dfcu financial website novi ground breaking press release pdf dfcu financial retrieved july 25 2011 greenville branch closing notification dfcu financial retrieved july 25 2011 branch & atm locations dfcu financial retrieved may 5 2011 external links edit official website retrieved from https en.wikipedia.org w index.php title dfcu financial & oldid 668139617 categories credit unions based in michiganbanks established in 1950dearborn michiganhidden categories wikipedia indefinitely move protected pages navigation menu personal tools not logged intalkcontributionscreate accountlog in namespaces article talk variants views read edit view history more search navigation main pagecontentsfeatured contentcurrent eventsrandom articledonate to wikipediawikipedia store interaction helpabout wikipediacommunity portalrecent changescontact page tools what links hererelated changesupload filespecial pagespermanent linkpage informationwikidata itemcite this page print export create a bookdownload as pdfprintable version languages add links this page was last modified on 22 june 2015 at 16 15 . text is available under the creative commons attribution sharealike license ; additional terms may apply . by using this site you 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