Michigan State University Federal Credit Union
Michigan State University Federal Credit Union is headquartered in East Lansing and is the 2nd largest credit union in the state of Michigan. It is also the 45th largest credit union in the nation. It was established in 1979 and as of March of 2025, it had grown to 1,407 employees and 378,243 members at 35 locations. Michigan State University Federal Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership in Michigan State University Federal Credit Union is open to anyone through a $10 donation to the Desk Drawer Fund (joining MSUFCU and making the $10 donation can be done simultaneously using the MSUFCU's online application). Anyone who lives, works, worships, goes to school, or owns a business in Oakland, Genesee, Lapeer, Livingston, or Macomb Counties in Michigan is also eligible to join.
Membership is also open to faculty, staff, or students of Michigan State University. Employees/members of more than 250 Select Employee Groups, including all State of Michigan employees, are also eligible to join.
See current membership details
They Really Care About You!
I've been using MSUFCU for many years and had accounts with other places during this time. When you walk in you get a smile and a "how can I help you?". They don't try to sell you junk. Their rates are not always the best, but when not the best, very close to the best. Lose your ATM card? They make a new one in front of you and hand it to you for free. Their web banking is solid, and their app works well. The best thing I can say is they really do try to help. You're not just a number or a dollar sign.
Warning Please Read.
Hello msufcu users. I ant to tell you why I would not give any rating. I was embezzled by an employee who banked with MSUFCU. she deposited hundreds of thousands of dollars into her account at MSUFCU that were all third party checks out of my business account from another bank. She wrote checks with other employees names on them for thousands of dollars at a time no employee has an account with MSUFCU. So if anyone has access to you checking accounts they can make it out to anyone and deposit it in there MSUFCU account. She did this for a number of years the credit union never asked for ID or checked to see if the checks that were deposited in a night deposit box. Meanwhile I have prosecuted the employee and she pleaded guilty and is in jail. But that didn’t help my financial situation. I lost my business and my credit and all my personal assets to pay attorneys fees and forensic accountants to gather evidence for years of embezzling and depositing money from my bank to MSUFCU. THE BANK uses my money for there own good and pay her interest on my money. I have nothing now on social security. I’m 70 years old lol no and have ad health mainly from this horrible situation. Why didn’t the MSUFCU catch any of this over the years??????
Out Of State Beware
The credit union currently has good rates. However, beware if you are NOT a Michigan resident. MSUFCU will put a non-resident through the equivalent of a security investigation. They have incomparable applicant requirements in terms of identification and transfer of funds for non-Michigan customers. It may not be worth the hassle for anyone outside of Michigan.
No Security Procedures In Place For Depositing Third Party Checks
I had an employee deposit hundreds of thousands of dollars into her account at MSUFCU OVER 10 years with third party checks. Made it to other employees and businesses then deposited in her own account with know one every checking for if or questioning the amounts or the third party forgery. I lost. My business and my credit and all my personal belongings. I can’t believe how they let this happen. Checks up to $25.000 I’ve 10 years come on. Just imagine if a family member or a friend or an employee had access to your check book and wrote out checks to third parties and deposited them into there account at MSUFCU. DON’t do business with a bank that lets this happen and they don’t care. They should be ashamed of themselves for not doing something about this and not being accountable. She is in jail now but that didn’t make things right for me. ????????????
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 23279 |
| Year Chartered | 1979 |
| Employees | 1407 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.07% |
| Return on Equity - YTD | -0.91% |
| Annual Interest Income | $108.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $8.25B$7.8B |
| Loans | Q1 2025vs Q1 2024 | $6.26B$6.03B |
| Deposits | Q1 2025vs Q1 2024 | $6.79B$6.34B |
| Equity Capital | Q1 2025vs Q1 2024 | $661.6MM$667.6MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $63.4MM$40.4MM |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $57.9MM$38.7MM |
| Real Estate Owned | Q1 2025vs Q1 2024 | $81K$242K |
