New loan program from Michigan Schools and Government Credit Union to serve Michigan residents affected by historic flooding

CLINTON TOWNSHIP, MI (September 25, 2014) — Michigan Schools and Government Credit Union (MSGCU) today launched a new Flood Restoration Loan, created to help Michigan homeowners recover from the recent historic flooding.

This new loan can be used to restore property or replace household items. Loans ranging from $500-5,000 are available immediately for both existing and new members of MSGCU. This fixed-rate loan offers a low 3.49% interest rate and can be paid off over 48 months.   

There is no application fee and most Flood Restoration Loans can be approved and funded the same day. These special loans will be offered for a limited time.

“We all try to prepare for the unexpected, but the damage sustained in such a brief time was significant,” said Peter Gates, MSGCU President and CEO. “We know that this presented a major challenge for many southeastern Michigan residents. Our goal is to serve the financial needs of our community, not just in good times, but especially during times like this when we can have a positive impact on a difficult situation.”

The MSGCU Flood Restoration Loan offers a low-cost alternative for flood-related charges compared to high-interest credit cards.Interested homeowners can contact Michigan Schools and Government Credit Union for detailed information. Learn more at or  586.263.8800 or 866.MSGCU4U.

About Michigan Schools and Government Credit Union MSGCU
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 95,000 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.

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 or call 586.263.8800 or 1.866.MSGCU4U.

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