Michigan State University FCU begins expansion into Northern Michigan

Michigan State University Federal Credit Union on Friday announced its plans to expand to Traverse City, Mich., about three hours north of the $4.4 billion-asset institution’s headquarters in East Lansing.

MSUFCU said in a press release it plans to open branches in downtown Traverse City and in the Charter Township of Garfield. Centered in the mid-Michigan region of the state, MSUFCU in recent years has expanded west into Grand Rapids and east into the Detroit Metro area, however, this is believed to be the first push into the northern part of the state.

“After many years of receiving member requests for branch access in Traverse City, we are planning two locations in northern Michigan,” April Clobes, MSUFCU’s president and CEO, said in a press release. “The new locations will provide our members with our full range of products and services delivered by our knowledgeable employees. Members also have access to our extended-hours call center and robust digital services.”

The credit union said the decision to move into Traverse City, one of the state’s more affluent regions, is part of a long-term growth strategy to expand services to members across the state. Traverse City is already home to at least four active credit unions, including TBA CU and 4Front. Membership at MSUFCU is open to students, faculty and alumni of the university, along with state employees and a variety of other groups.

While growth at Michigan credit unions has slowed somewhat, the state remains a hotbed of CU activity, and more than half the state’s residents are credit union members.