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MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION (MSUFCU)

Mar, 31, 2021 — MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION (MSUFCU) is a federal credit union headquartered in East Lansing, MI with 20 branch locations and about $6.17 billion in total assets. Opened 42 years ago in 1979, MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION (MSUFCU) has about 306,346 members and employs 885 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.


ABA Routing Number: 272479663
Name:MICHIGAN STATE UNIVERSITY FEDERAL CREDIT UNION
Address:
(Main Office)
3777 West Rd
East Lansing, MI 48823-8029
Phone:(517) 333-2424
Fax:(517) 664-6953
Website:http://www.msufcu.org
Branches:20 branch locations
Members:306,346
Credit Union Type:Federal Credit Union
Charter Number:23279
Membership Type:Multiple common bond - Primarily educational
Corporate Credit Union:No
Year Opened:1979
Last Audited:Dec 01, 2020
FHLB Member:Yes
Low Income Designation:No
Assets:$6,165,323,522
CEO/Manager:April Clobes
Chairperson:Angela W Brown

Call Report

  • Commercial Loans
  • Credit Builder
  • Direct Financing Leases
  • Indirect Consumer Loans
  • Micro Business Loans
  • Micro Consumer Loans
  • Overdraft Lines of Credit
  • Overdraft Protection
  • Participation Loans
  • Real Estate Loans
  • Risk Based Loans
  • Share Secured Credit Cards
  • Payday Alternative Loans (PAL Loans)
  • ATM/Debit Card Program
  • Commercial Share Accounts
  • Check Cashing
  • First Time Homebuyer Program
  • Health Savings Accounts
  • In-School Branches
  • Insurance/Investment Sales
  • International Remittances
  • Low Cost Wire Transfers

Financial Summary

» See also Statement of Financial Condition
ASSETS:$ Amount
Cash & Equivalents 535,510,235
TOTAL INVESTMENTS 1,130,554,893
Loans Held for Sale 0
 
 Real Estate Loans 2,036,733,784
 Unsecured Loans 442,430,055
 Other Loans 1,734,323,469
 TOTAL LOANS 4,213,829,744
 (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) -20,123,539
 Land And Building 159,454,887
 Other Fixed Assets 14,401,391
 NCUSIF Deposit 40,270,431
 All Other Assets 91,425,480
  TOTAL ASSETS 6,165,323,522
LIABILITIES & CAPITAL:  
 Dividends Payable 0
 Notes & Interest Payable 280,303,993
 Accounts Payable & Other Liabilities 47,659,516
 Uninsured Secondary Capital and Subordinated Debt Included in Net Worth 0
 Share Drafts 1,147,417,077
 Regular shares 890,803,651
 All Other Shares & Deposits 3,217,311,798
  TOTAL SHARES & DEPOSITS 5,255,532,526
  TOTAL LIABILITIES 5,583,496,035
 Regular Reserve 17,980,012
 Other Reserves 19,627,255
 Undivided Earnings 544,220,220
  TOTAL EQUITY 581,827,487
  TOTAL LIABILITIES, SHARES, & EQUITY 6,165,323,522
INCOME & EXPENSE  
 Loan Income 47,445,903
 Investment Income 2,096,774
 Other Income 2,519,497
 Total Employee Compensation & Benefits 18,997,486
 NCUSIF Premiums Expense 0
 Total Other Operating Expenses 16,716,525
 Non-operating Income & (Expense) 20,203
 NCUSIF Stabilization Income N/A
 Provision for Loan/Lease Losses or Total Credit Loss Expense -2,475,548
 Cost of Funds 7,473,119
 NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM N/A
Net Income (Loss) 21,992,666
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