Sep, 30, 2025 — MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION is a federally insured state chartered credit union headquartered in CLINTON TOWNSHIP, MI with 29 branch locations and about $4.17 billion in total assets. Opened 72 years ago in 1954, MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION has about 160,138 members and employs 475 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MICHIGAN SCHOOLS AND GOVERNMENT CREDIT UNION |
|---|---|
| Address: (Main Office) | 40400 Garfield Rd CLINTON TOWNSHIP, MI 48038-4004 |
| Phone: | (586) 263-8800 |
| Fax: | (586) 263-8285 |
| Website: | https://www.msgcu.org |
| Branches: | 29 branch locations |
| Members: | 160,138 |
| Credit Union Type: | Federally Insured State Chartered Credit Union |
| Charter Number: | 62049 |
|---|---|
| Membership Type: | State chartered natural person |
| Corporate Credit Union: | No |
| Year Opened: | 1954 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $4,166,423,140 |
| CEO/Manager: | Steve Brewer |
| Chairperson: | Douglas J Smith |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 45,594,216 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 2,211,491,805 |
| Unsecured Loans | 187,378,022 |
| Other Loans | 1,201,303,277 |
| TOTAL LOANS | 3,600,366,728 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -20,742,014 |
| Land And Building | 73,683,237 |
| Other Fixed Assets | 19,630,307 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 29,335,341 |
| All Other Assets | 1,298,257 |
| TOTAL ASSETS | 4,166,423,140 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 1,715 |
| Notes & Interest Payable | 200,000,000 |
| Accounts Payable & Other Liabilities | 31,582,515 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 316,521,759 |
| Regular shares | 319,430,224 |
| All Other Shares & Deposits | 2,787,254,334 |
| TOTAL SHARES & DEPOSITS | 3,423,206,317 |
| TOTAL LIABILITIES | 3,654,817,651 |
| Regular Reserve | 0 |
| Other Reserves | 10,906,717 |
| Undivided Earnings | 500,698,772 |
| TOTAL EQUITY | 511,605,489 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 4,166,423,140 |
| INCOME & EXPENSE | |
| Loan Income | 145,443,015 |
| Investment Income | 6,734,989 |
| Other Income | 5,278,789 |
| Total Employee Compensation & Benefits | 38,061,478 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 27,329,835 |
| Non-operating Income & (Expense) | 180,392 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 8,400,000 |
| Cost of Funds | 69,962,039 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 36,235,575 |
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