Michigan State University Federal Credit Union - History


On November 15, 1937, a petition for state charter was approved for the Michigan State College Employees Credit Union (MSCECU). MSCECU was located in the Administration Building at the Michigan State College of Agriculture and Applied Science (later, Michigan State University) and was operated out of a single desk drawer. At that time, the credit union had $3,000 in assets and 74 members.

In 1955 the State of Michigan renamed Michigan State College as Michigan State University, and MSCECU adjusted its name accordingly to Michigan State Employees Credit Union. The credit union moved to the Power House Plant on MSU’s campus the following year and continued to move around campus as its membership and assets increased.

An additional credit union branch was opened in Oakland County, Michigan in 1967 to better serve members at the nearby MSU-Oakland University. Four years later, in 1971, the credit union relocated its main office to 600 East Crescent Road in East Lansing, Michigan.

In 1978 the NCUA approved the credit union’s application for federal charter (Charter number 23279), and its name was changed to MSU Federal Credit Union. By that time, MSUFCU had grown to $40 million in assets and 29,244 members.

A branch in Okemos, Michigan was added in 1983 and was later relocated to its current location in 2003. Additional branches were also constructed in East Lansing in 1987 and on the west side of Lansing in 2003. A branch in south Lansing opened in 2005, and in the MSU Union Building on MSU’s campus shortly thereafter.

MSUFCU continues to expand, having completed construction on a brand new headquarters building in northern East Lansing in 2009. The building was constructed using green building standards and received a gold Leadership in Energy and Environmental Design (LEED) certification. The credit union opened an additional branch in downtown Lansing in April 2011.

A new branch was built on the south side of the MSU campus in March 2012, followed by a branch on Marsh Road in Bath Township in September 2012. In November 2012 the merger of MSUFCU and Eaton County Educational Credit Union was announced, effective April 2013. A branch within the Sparrow Hospital Professional Building in Lansing opened in January 2013.

Read more about this topic:  Michigan State University Federal Credit Union

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