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[COOPERS & LYBRAND LETTERHEAD]                                    EXHIBIT 23

                      CONSENT OF INDEPENDENT ACCOUNTANTS


The Board of Directors
D&N Financial Corporation
400 Quincy Street
Hancock, MI  49930

Gentlemen:

We consent to the incorporation by reference in the Registration Statement of
D&N Financial Corporation on Form S-8 of our report dated January 22, 1996 on
our audits of the financial statements of D&N Financial Corporation and
Subsidiary as of December 31, 1995 and 1994 and for each of the three years in
the period ended December 31, 1995, which report is incorporated by reference
in this Annual Report on Form 10-K of D&N Financial Corporation for the year
ended December 31, 1995.

Coopers & Lybrand

Detroit, Michigan
March 26, 1996

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