CLINTON TOWNSHIP, MI (January 29, 2015) -- For service to its members and to the community through programs that develop and advance financial literacy and wellness, Michigan Schools and Government Credit Union (MSGCU) has been recognized for “Excellence in Consumer Education” by the Michigan Credit Union Foundation (MCUF).
Honoring MSGCU for outstanding contributions and innovation in consumer financial education, the MCUF Excellence in Consumer Education award will be presented during the Michigan Credit Union League and Affiliates Annual Convention and Exposition, held June 4-6 in Traverse City.
“When people understand the elements and impacts of financial literacy, they can better shape their future,” Peter Gates, MSGCU President and CEO, said. “To be acknowledged for these efforts by the Michigan Credit Union Foundation is a special honor for every member of the MSGCU team. We are very proud of our programs and work to help people and strengthen community.”
MSGCU financial literacy education programs reached more than 2,100 individuals in 2014. Programs include a series of Financial Literacy Workshops on Youth Checking and Lending, Scams and Fraud, Wills and Trusts, Understanding Your Credit Report and a Home Buyers Workshop. Programs also include presentations at the “Re-Inventing Michigan Retirement” seminar on guiding people to sound financial decisions, avoiding financial fraud, and how to avoid outliving their retirement savings.
Employees of MSCGU also participated in financial education programs including the Financial Fitness Challenge created by Educated Investor. Over 75% of employees participated in the 10-week, self-paced online financial education program that evaluates knowledge and recommends future learning plans. MSGCU earned the Gold status and finished in the top five highest performing organizations among over 85 companies who participated in the challenge.
These MSGCU programs were backed by the latest research on financial education, including “The State of Financial Knowledge,” a detailed consumer research study by Walsh College commissioned by MSGCU. The work gauged the level of financial awareness and financial satisfaction in Oakland and Macomb counties and formed the development of MSGCU's Financial Wellness programs.
About Michigan Schools and Government Credit Union
Named one of the Top Workplaces in Michigan by the Detroit Free Press in 2014 and 2013, Michigan Schools and Government Credit Union has been providing quality financial services to its members for 60 years. With 11 offices located throughout Macomb and Oakland counties, MSGCU has more than 98,000 members, $1.5 billion in assets and 270 employees. For more than 20 years, the Credit Union has earned five stars, the highest possible rating, as reported by BauerFinancial. In addition, MSGCU has earned high member satisfaction ratings, scoring 97% or higher for more than 10 years. MSGCU was named Michigan Credit Union of the Year for 2015 by the Michigan Credit Union League (MCUL).
Founded by a small group of teachers, principals, and other school employees in 1954, MSGCU offers a full range of loan, savings and checking products and financial services for consumers and businesses. For more information, visit www.msgcu.org or call 586.263.8800 or 1.866.MSGCU4U.