Michigan Schools and Government Credit Union

Last updated
Michigan Schools and Government Credit Union
Company type Credit union
Industry Financial services
Founded1954
Headquarters Clinton Township, Michigan, US
Number of locations
22 full-service branches;
5,600+ Service Centers nationwide
Products Savings; checking; consumer loans; mortgages; credit cards; investments; online banking
Total assets $3.7 billion USD [1]
Website msgcu.org

The Michigan Schools and Government Credit Union (MSGCU) is headquartered in Clinton Township, Michigan, and has a membership size of more than 137,000 and assets of over $3.7 billion. MSGCU was founded in 1954 and is a not-for-profit financial institution, which is owned and operated by its members. The credit union is regulated under the authority of the National Credit Union Administration (NCUA), which means its members' deposits are federally insured up to $250,000. [2] Michigan Schools and Government Credit Union currently has 22 branches located throughout Macomb, Oakland, Wayne, and Washtenaw counties. [3] It also belongs to the CO-OP Network of ATMs and Credit Union Service Centers. This network allows members to utilize more than 30,000 surcharge-free ATMs and 5,600 Service Centers nationwide. [4]

Contents

Membership

MSGCU is open to all who reside, are employed, worship, or attend an educational institution in any county within the State of Michigan. [5]

Awards

The youth and adult financial education programs offered at MSGCU have received the Michigan Credit Union League's (MCUL) Desjardins Financial Education Award [6] numerous times. Additionally, the MCUL has also awarded the credit union with the Louise Herring Award and Dora Maxwell Award for various member and community service efforts throughout the years.

Bauer Financial [7] , which provides independent bank and credit union star-ratings, has consistently awarded MSGCU with its highest rating, five-stars, for financial institutions. MSGCU also has high member satisfaction and retention. For the past 20 years, MSGCU has received an average 97% member satisfaction rating during an independent survey.

MSGCU was awarded a 2023 Top Workplaces honor by The Detroit Free Press [8] for the 11th year in a row. The Top Workplaces lists are based solely on the results of an employee feedback survey administered by Energage, LLC (formerly Workplace Dynamics), a leading research firm that specializes in organizational health and workplace improvement. Several aspects of workplace culture were measured, including Alignment, Execution, and Connection.

Related Research Articles

<span class="mw-page-title-main">Credit union</span> Member-owned financial cooperative

A credit union is a member-owned nonprofit cooperative financial institution. They may offer financial services equivalent to those of commercial banks, such as share accounts, share draft accounts, credit cards, credit, share term certificates, and online banking. Normally, only a member of a credit union may deposit or borrow money. In several African countries, credit unions are commonly referred to as SACCOs.

<span class="mw-page-title-main">Navy Federal Credit Union</span> Credit union in the United States

Navy Federal Credit Union is an American global credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). Navy Federal is the largest natural member credit union in the United States, both in asset size and in membership. As of July 2024, Navy Federal has US $177 billion in assets and has 13.8 million members.

iTHINK Financial was formed in 1969 to serve the employees of IBM. iTHINK Financial is a state chartered, federally insured credit union with more than $1.5 billion in assets and more than 95,000 Members. iTHINK Financial has 22 branches located throughout Florida and Georgia and approximately 380 employees. iTHINK Financial’s headquarters are located in Delray Beach, Florida.

The Michigan State University Federal Credit Union (MSUFCU) is a credit union headquartered in East Lansing, Michigan. Primarily serving students and alumni of Michigan State University and Oakland University, MSUFCU is federally chartered and regulated by the National Credit Union Administration (NCUA). MSUFCU is the largest university-based credit union in the world, and the second-largest credit union in Michigan.

<span class="mw-page-title-main">Credit unions in the United States</span> U.S. Member Owned Financial Cooperatives

Credit unions in the United States served 100 million members, comprising 43.7% of the economically active population, in 2014. U.S. credit unions are not-for-profit, cooperative, tax-exempt organizations. The clients of the credit unions become partners of the financial institution and their presence focuses in certain neighborhoods because they center their services in one specific community. As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. Total credit union assets in the U.S. reached $1 trillion as of March 2012. Approximately 236,000 people were directly employed by credit unions per data derived from the 2012 National Credit Union Administration (NCUA) Credit Union Directory. As of 2019, there were 5,236 federally insured credit unions with 120.4 million members, and deposits of $1.22 trillion.

<span class="mw-page-title-main">Stanford Federal Credit Union</span> Credit union in California, USA

Stanford Federal Credit Union is a federally chartered credit union located in Palo Alto, California. It provides banking services to the Stanford community. Stanford FCU has over $3.6 billion in assets and serves over 80,000 members.

<span class="mw-page-title-main">Service Credit Union</span> American credit union

Service Federal Credit Union is the largest credit union in New Hampshire, and is chartered and regulated by the National Credit Union Administration (NCUA). As of Q4 2020, Service Credit Union has over $4.5 billion USD in assets, and more than 321,000 members worldwide. Service Credit Union operates 37 branches in New Hampshire, Massachusetts, and North Dakota; and 14 branches serving American military personnel stationed in Germany.

<span class="mw-page-title-main">Tropical Financial Credit Union</span>

Tropical Financial Credit Union (TCFU) is a member-owned credit union that was chartered in 1935 and is headquartered in Miramar, Florida. TFCU is regulated under the authority of the National Credit Union Administration (NCUA).

DFCU Financial is a state-chartered credit union headquartered in Dearborn, Michigan, regulated by Michigan's Department of Licensing and Regulatory Affairs (LARA). DFCU Financial is one of Michigan's largest credit unions. As of October 2021, DFCU Financial had approximately $6 billion in assets, 232,000 members, and 27 branches in Metro Detroit, Ann Arbor, Grand Rapids and Lansing.

<span class="mw-page-title-main">Spokane Teachers Credit Union</span>

Spokane Teachers Credit Union (STCU), is a credit union chartered in the state of Washington and North Idaho. It is regulated under the authority of the National Credit Union Administration (NCUA) of the federal government. Membership is open to those "live, work, worship, or attend school" in Washington state, or counties in northern Idaho.

<span class="mw-page-title-main">Wright-Patt Credit Union</span>

Wright-Patt Credit Union (WPCU) is a US credit union or financial cooperative headquartered in Beavercreek, Ohio. The credit union was originally headquartered in Fairborn, Ohio; however, it relocated in early 2014. WPCU is registered as a state-chartered credit union, is the largest member-owned credit union in Ohio, and is one of the 50 largest credit unions in the United States. As of February 2022, WPCU has over $7.1 billion in assets, and over 446,000 members. WPCU is federally insured by the National Credit Union Administration (NCUA), which insures accounts in federal and most state-chartered credit unions in the United States. Deposits with Wright-Patt Credit Union are insured to $250,000.

<span class="mw-page-title-main">Lake Trust Credit Union</span> Credit Union in Michigan

Lake Trust Credit Union is a community-based credit union headquartered in Brighton, Michigan. As a not-for-profit financial cooperative, Lake Trust is owned by members of the credit union and regulated under the authority of the National Credit Union Administration (NCUA). The organization is governed and supervised by an 18-member board of directors.

<span class="mw-page-title-main">Genisys Credit Union</span>

Genisys Credit Union is a credit union based in Auburn Hills, Michigan.

Technicolor Federal Credit Union is an American federally chartered multiple common-bond credit union based in Burbank, California. It is a cooperative financial institution that is owned and controlled by its members and operated for the purpose of offering lower rates on loans, lower fees on services and higher returns on savings.

<span class="mw-page-title-main">Actors Federal Credit Union</span>

Actors Federal Credit Union (ActorsFCU) is an American federally chartered credit union—a cooperatively run, not-for-profit financial institution, owned and controlled by its members. Based in New York City, New York, ActorsFCU is regulated and insured by the National Credit Union Administration (NCUA), an agency of the U.S. Federal Government comparable to the Federal Deposit Insurance Corporation. It is the 49th largest credit union in the state of New York and the 993rd largest credit union in the nation. It has an overall health score at DepositAccounts.com of a B, with a B+ Texas ratio. Currently led by Chuck Brown, ActorsFCU serves over 26,000 members of more than 190 organizations nationwide with assets of more than $300,000,000. ActorsFCU has 54 full-time employees with a main office and 4 branch offices.

<span class="mw-page-title-main">Arsenal Credit Union</span>

Arsenal Credit Union (ACU) provides financial products and services to people who live and work in the St. Louis metropolitan area. The credit union is chartered and regulated under the authority of the Missouri Division of Credit Unions. Member deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. government agency. The credit union has five branches and is headquartered in Arnold, Missouri. ACU is the 7th-largest credit union in St. Louis and the 9th-largest in Missouri based on asset size.

Frontwave Credit Union is a not-for-profit credit union that is licensed and regulated under the authority of the California Department of Financial Protection and Innovation.

Langley Federal Credit Union is a US credit union headquartered in Newport News, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). Langley FCU is one of the 100 largest credit unions in the United States. As of November 2022, Langley FCU has $5.1 billion USD in assets and over 351,000 members. The credit union has 21 branches in the Hampton Roads area of Virginia.

Workers Credit Union is a state-chartered credit union headquartered in Littleton, Massachusetts. The credit union was established in Fitchburg, Massachusetts in 1914, has more than $2.6 billion in assets, over 124,000 members, and operates sixteen full-service branches located in Athol, Chelmsford, Fitchburg, Gardner, Groton, Hudson, Lancaster, Leominster, Lunenburg, Orange, Townsend, Westford, Worcester, and Lowell. As the organization is a federally insured state-chartered credit union, Workers Credit Union is regulated by the National Credit Union Administration (NCUA). Workers Credit Union was officially chartered in 1914 and was assigned the NCUA charter number 66479.

Robins Financial Credit Union is a credit union based in Warner Robins, Georgia. Robins Financial is the 2nd largest credit union in the state of Georgia. As of March 31, 2022, Robins Financial has over 243,000 members and over $4 billion in assets. Robins Financial operates 22 branch locations throughout the state of Georgia.

References

  1. ↑ "Data Summary for MSGCU". NCUA. Retrieved 8 January 2019.
  2. ↑ "About NCUA".
  3. ↑ "MSGCU Branch Locations".
  4. ↑ "Co-Op Network".
  5. ↑ "Become a Member". MSGCU.
  6. ↑ "Recognition & Achievements". MSGCU.
  7. ↑ "Bank and Credit Union Ratings". BauerFinancial. Retrieved 8 January 2019.
  8. ↑ "Top Workplace". Detroit Free Press. Retrieved 8 January 2019.
This page is based on this Wikipedia article
Text is available under the CC BY-SA 4.0 license; additional terms may apply.
Images, videos and audio are available under their respective licenses.