Press
MSGCU reaches $1.5 Billion in assets, announces plans for new branch in Livonia
CLINTON TOWNSHIP (June 3, 2014) — Michigan Schools and Government Credit Union (MSGCU) is pleased to announce its growth in assets, membership and physical presence today: the organization has surpassed $1.5 billion in assets and 90,000 members and is also planning a new branch location in Livonia. This will be the 12th MSGCU branch in southeastern Michigan and the first in Wayne County.
“While the financial numbers tell a great story, we are particularly pleased about the 20 percent growth in our membership. We are humbled by the confidence in our services this growth rate demonstrates,” said Peter Gates, MSGCU President and CEO. “Achieving a financial milestone is certainly an accomplishment, and having the opportunity to contribute to Southeast Michigan’s economic growth through continued lending and job creation is equally as positive.” Since 2010, MSGCU has created 112 new jobs in Macomb and Oakland counties.
“In addition to providing increased access for our existing members, we look forward to offering the value of credit union partnership to communities and residents in Wayne County with this new office,” said Deborah Fahrney, MSGCU Vice President, Retail Services.
Construction of the new branch, which will be located at the corner of Eight Mile and Farmington in Livonia, is scheduled to begin later this year.
MSGCU’s growth presents employment opportunities at the new branch. Those interested in applying can visit www.msgcujobs.org for more information.
About Michigan Schools and Government Credit Union
Named one of the Top Workplaces in Michigan by the Detroit Free Press, Michigan Schools and Government Credit Union has been providing quality financial services to its members for almost 60 years. With 11 offices located throughout Macomb and Oakland counties, MSGCU has more than 90,000 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 15 years.
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.