Per rules established in the Plan Document, loans may be made to eligible members from the balance of their Voluntary Employee Contribution Account. Loans are funded directly from the member’s Frozen Defined Contribution Account, and the withdrawal is deducted from the account balance. The loan program is available only for legacy accounts; loans from hybrid defined contribution accounts are not available at this time. Additional details about the loan program can be found on our Frequently Asked Questions page

Applications can be downloaded here and delivered, emailed, or faxed to First Independence Bank for processing. Please note that applications must be returned only to First Independent Bank. The Retirement System is not able to accept applications for the annuity loan program.

Loan Application

Local branches of First Independence Bank include the following locations:

Main Office Branch
7310 Woodward Ave., #101
Detroit, MI 48202
(313) 256-8400

Garfield Branch
38880 Garfield Rd.
Clinton Twp., MI. 48038
(586) 329-7200

Seven Mile Branch
7020 W. Seven Mile
Detroit, MI. 48221
(313) 342-0900