WASHINGTON, DC (April 16, 2019) — Callahan & Associates has recognized Michigan State University Federal Credit Union (MSUFCU) for the cooperative’s success in meeting the needs of a changing market and membership base.
MSUFCU is featured in Callahan’s quarterly series “Anatomy Of A Credit Union,” which explores the strategies and analyzes the performance of an exemplary credit union.
“Callahan chose the Michigan credit union because of its financial growth, delivery channel investment, and community impact,” said editor-in-chief Rebecca Wessler. “When making decisions, MSUFCU considers the organization it is today as well as what it wants to be tomorrow.”
MSUFCU, the nation’s largest university-based credit union, serves a youthful membership, with an average member age of 35. But as its next generation of members matures, MSUFCU must navigate several pressing changes to the way it conducts business.
Increasingly, new college students arrive on campus with checking accounts, requiring the credit union to reconsider how it attracts new members. In addition, MSU’s graduates are moving to growing city centers where the credit union has less of a physical presence, and the complexities of modern personal finance have made financial education among its members a pressing need. To meet those changes the credit union is singularly focused on serving the member.
“It might sound simple when you boil it down,” says CEO April Clobes, “but that is our focus.”
The credit union will focus on serving its members by expanding and re-imagining its delivery channels. In the coming years, MSUFCU has plans to serve more of its members across the state by expanding into new markets with redesigned and reimagined branches, and has created more formalized branding, hiring, and training strategies for branch staff to ensure the member (and employee) experience remains high.
The newest installment of Anatomy Of A Credit Union is available to read now in the fourth quarter issue of Credit Union Strategy & Performance.
For more than 35 years, Callahan & Associates has helped credit union leaders identify strategic growth opportunities that increase member value. We create meaningful dialogue, connect people, provide counsel, and help organizations thrive through our competitive analytics, best-practice media, leadership consulting, and collaborative ventures. Our clients grow assets, members, shares, and loans faster than industry averages. Learn more at www.callahan.com.
Victoria Taylor
vtaylor@callahan.com
