LATHRUP VILLAGE, Mich., March 12, 2012 – Michigan First Credit Union kicks off its second annual Young & Free Michigan “Spokester” search today. The winner will serve as the program’s spokesperson for a year and receive a $30,000 salary, an Apple MacBook Pro, an HD video camera and a smart phone. The winner will also enjoy use of the Young & Free Michigan car for a year, along with paid gas and insurance. President/CEO Michael Poulos made the announcement.

“If I was a few years younger, I’d love to have this job,” says Poulos. “Our spokesperson actively reaches out to the community—engaging through social media, making videos, attending events and encouraging the next generation to get a head start on being financially fit. We want them to show that smart money management doesn’t have to be a chore—it can be fun!”

To enter, individuals must be between 18 and 25 years old and bring their creativity, tech savvy and passion for helping others to a short, 60-second video demonstrating why they would be the ideal spokesperson. They will also need to submit an entertaining blog post on a financial topic, completing their entry by noon on April 16. A public vote from April 16-25 will determine the 15 finalists who also will be invited for an in-person “meet up” event before the final decision is made.

To see video from last year’s winner and the current Young & Free Michigan Spokester Janelle O’Hara, visit YougFreeMichigan.com.

About Michigan First Credit Union

Founded in 1926 by a small group of Detroit teachers, Lathrup Village-based Michigan First Credit Union (www.MichiganFirst.com) has grown into a $600 million financial institution serving more than 84,000 individuals and local businesses in Wayne, Oakland and Macomb counties. An industry leader in consumer-focused technology and dedicated customer service, the credit union is also a significant supporter of local financial education and community organizations through the Michigan First Foundation, which donates $150,000 to more than 85 local nonprofits each year. For the latest news, and events, Follow Michigan First on Twitter at http://www.Twitter.com/MichiganFirstCU or “Like” Michigan First on Facebook http://www.Facebook.com/MichiganFirstCreditUnion.

About Young & Free Michigan

Young & Free Michigan, powered by Michigan First Credit Union, is an ongoing effort to give the 17-to-25 crowd a voice, a head start and useful information about their finances. Spokesperson Janelle O’Hara uses the site’s blog, videos and frequent community appearances to share insight into the best ways to handle financial issues and encourage readers to take advantage of Michigan First’s First Gear accounts, tailored specifically to their needs. Learn more at www.YoungFreeMI.com.

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Luke Capizzo
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Students interested in the scholarships, offered as part of the Young & Free Michigan program, can enter by submitting a 60 second video answering the question: ”What impact will your education have on where you will be in ten years?” Applicants are encouraged to get creative with the video process and share the contest within their social networks. Beyond first prize, the foundation will award scholarships of $5,000 for second place, $2,500 for third place and an iPad 2 for the “People’s Choice” winner of online voting. Current college students and high school graduates ages 18-25 planning to attend college in the fall of 2012 can learn more at YoungFreeMichigan.com, where voters will choose the ten finalists for the top prizes.

“We began as a credit union for Detroit teachers, and we’ll never forget that heritage or diminish our deep commitment to education,” says foundation President Michael Poulos, who is also Michigan First’s president/CEO. “This year, we’ve created the foundation to leverage our commitment to metro Detroit and expand our reach. Adding the college scholarship contest gives more students the encouragement and support to continue with higher education, paying dividends for the strength of our communities and help build a better future for Michigan.”

The foundation will also continue Michigan First’s separate $1,000 high school scholarship program for the 11^th year. High school seniors can enter through their school counselors at participating schools, while college students and high school graduates can apply online through the Young & Free Michigan website. Only current members of Michigan First (and for high school students, those that attend participating schools in Wayne, Oakland and Macomb counties) are eligible, but non-members are encouraged to join.

About Michigan First Credit Union
Founded in 1926 by a small group of Detroit teachers, Lathrup Village-based Michigan First Credit Union (www.MichiganFirst.com) has grown into a $600 million financial institution serving more than 84,000 individuals and local businesses in Wayne, Oakland and Macomb counties. An industry leader in consumer-focused technology and dedicated customer service, the credit union is also significant supporter of local financial education and community organizations through the Michigan First Foundation, which donates $100,000 to more than 75 local nonprofits each year. For the latest news, and events, Follow Michigan First on Twitter at http://www.Twitter.com/MichiganFirstCU or “Like” Michigan First on Facebook http://www.Facebook.com/MichiganFirstCreditUnion.

About Young & Free Michigan
Young & Free Michigan, powered by Michigan First Credit Union, is an ongoing effort to give the 17-to-25 crowd a voice, a head start and useful information about their finances. Spokesperson Janelle O’Hara uses the site’s blog, videos and frequent community appearances to share insight into the best ways to handle financial issues and encourage young adults to take advantage of Michigan First’s First Gear accounts, tailored specifically to their needs. Learn more at www.YoungFreeMichigan.com.

SUBSCRIBE
 Subscribe to Michigan First’s News Feed

Media Contact
Luke Capizzo
248.258.2333
lcapizzo@identitypr.com

“The current state of the housing market creates an excellent opportunity for metro Detroiters to get into the home of their dreams,” said Chris Maynard, vice president of lending for Michigan First Credit Union. “Unfortunately the state of the financial industry may create a challenge for many consumers to get a mortgage. With the Turning Point Home Loan we are able to work closely with our members and simplify some of the requirements of conventional mortgages.”

Although 30-year fixed mortgage rates remain attractive, many financial institutions are increasing lending standards and inserting additional hurdles into the home loan process. As a result, some would-be borrowers will face higher rates, while others will be turned down altogether. The Turning Point Home Loan not only keeps rates consistent but it also helps eliminate many of the barriers to getting a loan. Details on the Turning Point home loan can be found at www.MichiganFirst.com/TurningPoint.

If you are considering looking for a new home, here are a few tips to help you be ready for the mortgage process.

1. Check your credit report: It is important to make sure that your credit report is up to date and correct. Your credit score will play a big role in the percentage rate and approval process for a loan.
2. Have a down payment: The days of zero down are gone. Take time to get your finances in order and save for a down payment before applying for a loan.
3. Income documentation: Loan applicants will also be required in most cases to provide document verification of their income and their assets.
4. Pay down debts: If you want to get a mortgage but have substantial debts, consider paying them down.
5. Wait: If you have recent delinquency on your credit report, maxed out lines of credit, or other blemishes on your credit report that can be taken care of, it is sometimes better to wait a few months and clean up your credit before applying for a mortgage. The better your score is, the better rate you will get and the better your chances will be for loan approval.

Because buying a home can be intimidating, Michigan First offers seminars throughout the year to help consumers better understand the process, including “Get a New Home Loan: It’s Not as Hard as You Think” from 6-8 p.m. on Feb. 15 at the credit union’s main branch in Lathrup Village. Visit www.michiganfirst.com/seminars for the full schedule of upcoming seminars on a variety of financial topics.

In addition to home loans, Michigan First also works with members for auto loans, student loans, credit cards and personal loans.

“Michigan First continues to be strong and stable with money to lend, unlike many financial institutions that have been dramatically affected by the current state of the economy,” added Maynard. “We want to help metro Detroit residents take advantage of the housing market and get into the home they deserve.”

About Michigan First Credit Union

Based in Lathrup Village, Mich., Michigan First Credit Union is one of the leading technology-focused credit unions in metro Detroit. The rapidly growing, full-service financial institution serves more than 84,000 members and has more than $600 million in assets. Founded in 1926 as the Detroit Teachers Credit Union, Michigan First has since expanded to serve those who live, work or worship in Wayne, Oakland and Macomb counties, as well as local businesses. Michigan First is committed to continuously investing in its members, the community, youth and financial literacy initiatives and providing members with the latest in banking technology and services. For more information, visit http://www.MichiganFirst.com.

To stay updated on news, events and more, follow Michigan First on Twitter at http://www.Twitter.com/MichiganFirstCU or “Like” Michigan First on Facebook http://www.Facebook.com/MichiganFirstCreditUnion.

MEDIA CONTACT
Luke Capizzo
248.258.2333
lcapizzo@identitypr.com