1


                                                                      EXHIBIT 23


                        [COOPERS & LYBRAND LETTERHEAD]

                       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 (Registration No. 33-94076) of our report
dated January 22, 1998 on our audits of the financial statements of D&N
Financial Corporation and Subsidiary as of December 31, 1997 and 1996 and for
each of the three years in the period ended December 31, 1997, 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, 1997.




COOPERS & LYBRAND L.L.P.

Coopers & Lybrand L.L.P.
Detroit, Michigan
March 25, 1998