Community Financial Credit Union to launch Wayne State partnership, open first Detroit branch in 70-year history
The new branch inside Wayne State University’s Student Center is centrally located to service both students and the broader Detroit community. Community Financial Credit Union commissioned Wayne State alum Ani Garabedian for original mural at the new branch.
PLYMOUTH, MI (September 7, 2023) — Community Financial Credit Union (CFCU), a non-profit financial institution headquartered in Plymouth, Mich., is expanding to Detroit for the first time in its more than 70-year history, opening a 1,243-square-foot branch inside Wayne State University’s Student Center. Located in the heart of Midtown, the branch is positioned to cater to students, staff and faculty, as well as Detroit residents and commuters alike.
“We’re so thrilled to be a part of the Wayne State community, and the long tradition of excellence and advocacy they bring to Detroit,” said Community Financial president and CEO Tansley Stearns. “Those are such important qualities we seek in partners, and the opportunities before us to walk alongside students, faculty and staff in both joyful and difficult times are what bring us to this work every day.”
CFCU and Wayne State make fitting partners as both organizations have comprehensive programming designed to foster a sense of belonging among the communities they serve.
Wayne State offers one-of-a-kind resources to help economically disadvantaged students graduate and succeed. U.S. News & World Report ranks Wayne State as the top public university in Michigan facilitating social mobility (which refers to a positive change in an individual’s socioeconomic status).
“Wayne State is pleased to welcome CFCU to campus as they bring their services to our students and employees to our Student Center in the heart of campus,” said WSU Associate Dean of Students Katie Beaulieu.
The Wayne State branch marks CFCU’s fifteenth location and will feature an original art piece by regarded Detroit muralist and Wayne State alum Ani Garabedian. Garabedian’s mural will add the beauty that CFCU’s branches are known for, plus a unique Detroit style. Garabedian has made a name for herself in the city, regularly collaborating with Detroiters to create large-scale murals throughout metro Detroit.
CFCU’s partnership with Wayne State is another example of the credit union’s focus on building community for its members. Last year, CFCU launched its Path to Homeownership program to help minimize barriers to attaining a mortgage with no minimum credit score requirements, no down payment options, fast pre-approvals, an accelerated timeline from application to close, affordable closing costs and low interest rates. CFCU also has a Greenlight partnership that helps youth build smart financial habits through debit cards with parental controls, savings goals, direct deposits for after-school jobs and a financial literacy game. In addition to its focus on helping higher education students succeed, CFCU has over 50 student-run credit union branches statewide, impacting more than 20,000 elementary, middle and high school students.
About Community Financial Credit Union
The relationship with members is everything because Community Financial Credit Union is always looking out, standing beside members in every season of life. Community Financial is a full-service financial institution headquartered in Plymouth, Michigan since 1951 with 15 branches in Southeast and Northern Michigan and $1.6 billion in assets. Membership is open to any person or any business in the state of Michigan. Community Financial is deeply rooted in the communities it serves, offering programs and partnerships like student-run credit unions, an obstacle-free path to homeownership, and more. To learn more about Community Financial and why on earth there’s a bear on the logo, visit cfcu.org.
About Wayne State University
Wayne State University is a premier urban research institution offering approximately 350 academic programs through 13 schools and colleges to nearly 24,000 students. For more information, visit wayne.edu.
