Credit union funded by tribal trust
Posted: May 1st, 2013According to tribal council minutes, over $2 million was spent from the Saginaw Chippewa Housing and Land Trust under stipulation funds would be returned to the tribe beginning 2015. The majority of motions were initiated and supported by Council Members Lorna Kahgegab-Call, Audrey Falcon and Michele Stanley. The decade of resolutions also reveal board members traveling to seven conventions in such locations as Washington, DC and Orlando, Florida. After much rhetoric from both tribal council and board members, the credit union opened 2011 but will shut its doors on Leaton Road June 1, 2013.
April 20, 2005 – On a motion duly made by Charmaine Benz, supported by Bernie Sprague, it was moved to approve the Letter of Interest to National Credit Union Administration in order to pursue a federally-chartered credit union for Saginaw Chippewa Indian Tribe.
May 18, 2005 – Request to approve the recruitment of seven initial committee members lead the credit union project by advertizing in Tribal Observer.
June 16, 2005 – On a motion duly made by Bernie Sprague, supported by Michele Stanley, it was moved to approve directing the Tribal Business Board to move forward with planning and gathering all pertinent information necessary on the credit union project.
June 24, 2005 – Credit Union Surveys/Tribal Business Board: Request to send out a credit union survey in the payroll/per-capita checks or by special mailing to all members and employees.
February 14, 2007 – On a motion duly made by Michele Stanley, supported by Lorna Kahgegab-Call, it was moved to approve, as recommended by the Finance Committee, the budget submitted of >>>REDACTED<<< for the credit union start-up costs; funds from Housing and Land as a loan to be paid back from credit union operations when established.
June 27, 2007 – On a motion duly made by Michele Stanley, supported by Lorna Kahgegab-Call, it was moved to approve insertion of a cover sheet and two-page SCIT credit union survey…any cost associated with this request will be paid from the approved credit union 2007 budget.
December 21, 2007 – Demographic Information/Credit Union Project Team: On a motion made by David Sowmick, supported by Lorna Kahgegab-Call, it was moved to approve authorization for the Credit Union Project Team to receive generic demographic information through Human Resources and Tribal Enrollment.
February 6, 2008 – On a motion duly made by Audrey Falcon, supported by David Sowmick, it was moved to approve the submitted Authorization for Travel to attend the Credit Union National Association Governmental Affairs Conference in Washington, DC…funds from the credit union budget.
August 27, 2008 – Request to approve as recommended by the Credit Union Committee, to amend the motion approved October 24, 2007, approving loan of >>>REDACTED<<< for start-up and on-going operations for the credit union.
October 29, 2008 – Initial Capital Cash Grant: On a motion duly made by Lorna Kahgegab-Call, supported by Audrey Falcon, it was moved to approve a cash grant totaling >>>REDACTED<<< to be used as initial capital for Chippewa Eagle Federal Credit Union upon receipt of its charter and successful opening.
November 5, 2008 – On a motion duly made by Lorna Kahgegab-Call, supported by Audrey Falcon, it was moved to approve travel for >>>REDACTED<<< to attend the Opportunity Finance Network Conference for Native Certified Development Financial Institutions…at a cost of approximately >>>REDACTED<<<.
November 12, 2008 – On a motion duly made by Simon Jackson, supported by Lorna Kahgegab-Call, it was moved to approve that credit unions, which Tribal Council has formally authorized to set-up branch offices on Tribal trust Land, may repossess personal property…Request to approve the >>>REDACTED<<< correspondence dated October 28, 2008 rewarding the Tribe’s support for the formation and initial operations of the proposed Chippewa Eagle Federal Credit Union.
November 18, 2008 – Executive Leadership Conference Travel Expenses: On a motion duly made by Audrey Falcon, supported by Lorna Kahgegab-Call, it was moved to approve an additional amount…Funding for the >>>REDACTED<<< loan from Housing and Land that was approved for the credit union to cover pre-chartering and training costs.
February 11, 2009 – On a motion duly made by Michele Stanley, supported by Audrey Falcon, it was moved to approve the third portion of the funding request for Chippewa Eagle Federal Credit Union consisting of up to >>>REDACTED<<< for the build-out, equipment purchases and pre-chartering costs; Build-out funds will be paid back to the Tribe beginning in six years and separate from the lease payment for 2410 Leaton Road.
April 29, 2009 – On a motion duly made by Jeanette Leaureaux, supported by Michele Stanley, it was moved to approve travel authorization for >>>REDACTED<<< to attend the National Credit Union Administration private meetings and seminars at an approximate cost of >>>REDACTED<<<.
June 22, 2009 – On a motion duly made by Ruth Moses, supported by Audrey Falcon, it was moved to approve authorization to attend the Michigan Credit Union League Annual Convention and Expo…at an approximate cost of >>>REDACTED<<<.
October 22, 2009 – Request to approve permission to attend the Credit Union Executives Society Conference in Orlando, Florida.
April 7, 2010 – Request to approve >>>REDACTED<<< to attend the Michigan Credit Union League Annual Conference and Expo. Total cost not to exceed >>>REDACTED<<<.






