Department of Insurance and Financial Services Announces Newly Formed Community Unity Bank
Media Contact: Laura Hall, (517) 290-3779, [email protected]
Consumer Hotline: 877-999-6442, Michigan.gov/DIFScomplaints
FOR IMMEDIATE RELEASE: June 26, 2023
(LANSING, MICH) The Michigan Department of Insurance and Financial Services (DIFS) is pleased to announce the opening of Community Unity Bank, a new state-chartered bank that will expand access to banking services for Michiganders in Oakland County. After going 10 years without seeing a new bank open in the region, this will be Michigan’s second new depository bank to open in four years.
“The opening of Community Unity Bank will provide area residents with increased options to access financial services and tools to build stronger financial futures for themselves and their families,” said DIFS Director Anita Fox. “DIFS is pleased to oversee the continued growth of banking access in our state. Locally based community banks promote economic growth and community development within the markets they serve.”
“We pride ourselves on providing exceptional support and supervision to the growing number of Michigan banks we regulate,” said Director of DIFS’ Office of Banking Aaron Luetzow. “Employees and customers of Community Unity Bank can have confidence that they will be supported by a team of dedicated and local Michiganders.”
The Office of Banking ensures that Michigan’s state-chartered banks, savings banks, and Business and Industrial Development Companies are operating safely and soundly, that public confidence in the financial system is maintained, and that the interests of depositors, creditors and shareholders are protected.
Community Unity Bank opened June 26 at 34040 Woodward Avenue in Birmingham.
The mission of the Michigan Department of Insurance and Financial Services is to ensure access to safe and secure insurance and financial services fundamental for the opportunity, security, and success of Michigan residents, while fostering economic growth and sustainability in both industries. In addition, the Department provides consumer protection, outreach, and financial literacy and education services to Michigan residents. For more information, visit Michigan.gov/DIFS or follow the Department on Facebook, Twitter, or LinkedIn.
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