Press
Michigan State University Federal Credit Union (MSUFCU) Continues to Increase Assets and Membership
EAST LANSING, MI (June 27, 2013) MSU Federal Credit Union, the largest university-based credit union in the world in assets and membership, announces continued growth in both of those areas. As of May 31, 2013, MSUFCU held $2.48 billion in assets, a 9.86% increase since May 31, 2012. MSUFCU also had 175,144 members as of May 31, 2013, an increase of 5.16% over May 31, 2012.
Patrick McPharlin, MSUFCU’s President and Chief Executive Officer, comments, “MSUFCU’s continued growth in both assets and membership demonstrates the confidence and trust our members have in the Credit Union and is a result of our commitment to finding new and innovative ways to best serve our membership while providing exceptional service. It is our goal to provide resources to help our members achieve their dreams, and we are proud to continue to add new services, products, and locations to best serve our growing membership.”
McPharlin attributes MSUFCU’s growth in part to its expansion of branch locations and account services. MSUFCU has expanded its locations in the past year with the addition of its Farm Lane and Marsh Branches in 2012, the opening of its Sparrow Branch in early 2013, and its merger with Eaton County Educational Credit Union in April 2013, which added an MSUFCU branch in Charlotte, Michigan. Remote services including the MSUFCU Mobile app for iPhones and Android phones and mobile eDeposit for checks were also released in the past year to provide greater account accessibility for members.
MSU Federal Credit Union offers a full range of personal- and business-related financial services to Michigan State University and Oakland University faculty, staff, students, alumni association members, and their families worldwide in addition to a variety of select employee groups. Founded in 1937 by a few MSU professors and employees, MSUFCU now has twelve branches, over 175,000 members, more than $2.4 billion in assets, and over 515 employees.