Credit union
Michigan State University Federal Credit Union
East Lansing, Michigan, Clinton County, MI
$8.9B in total assets and 405,979 members, the 42nd largest of 4,298 US credit unions and 2nd of 169 headquartered in Michigan.
- NCUA charter
- 23279
- Charter
- Federal
- Chartered
- 1979
- NCUA insured since
- 1979
- Field of membership
- Multiple common bond - primarily educational
- Low-income designation
- Yes
- Website
- http://www.msufcu.org
At a glance
Compared with 26 federally insured credit unions in Michigan with $1 billion to $10 billion in assets, as of June 30, 2026.
| Measure | This credit union | Percentile | Peer range, middle 90% | Peer median |
|---|---|---|---|---|
| Total assets | $8.9B | 98% | $1.7B | |
| Loans | $6.9B | 98% | $1.3B | |
| Deposits (shares) | $7.3B | 98% | $1.5B | |
| Members | 405,979 | 98% | 106,474 | |
| Return on assets | 0.31% | 8% | 0.90% | |
| Net interest income to assets | 3.75% | 54% | 3.74% | |
| Efficiency ratio | 74.7% | 62% | 73.4% | |
| Net worth ratio | 8.96% | 2% | 11.36% | |
| Loans to shares | 95% | 73% | 85% | |
| Cost of deposits | 1.92% | 62% | 1.71% |
Ratios are annualized from year-to-date figures. Return on assets uses average assets, as NCUA does. Cost of deposits includes dividends on shares.
Growth
Total assets grew 10.5% a year over 10 years and 7.2% a year over the last 5, including 5 mergers in the last 10 years. Membership grew 5.4% a year over 5 years, to 405,979.
Dashed lines mark larger mergers, listed below.
Mergers and acquisitions
| Closed | Absorbed | Assets at last filing |
|---|---|---|
| Jul 2026 | American Eagle Bank Bank, South Elgin, IL | $485M |
| May 2026 | Gold Coast Bank Bank, Chicago, IL | $463M |
| Sep 2024 | McHenry Savings Bank Bank, Mchenry, IL | $324M |
| Sep 2024 | Algonquin State Bank Bank, Algonquin, IL | $144M |
| Jan 2024 | Gabriels Community Credit Union Credit union, Lansing, MI | $27M |
| Mar 2016 | Clarkston Brandon Community Credit Union Credit union, Clarkston, MI | $69M |
| Apr 2013 | Eaton County Educational Credit Union Credit union, Charlotte, MI | $34M |
Where they operate
35 branches in 11 counties.
Largest counties by branches
| County | Branches | Share of all branches | Rank |
|---|---|---|---|
| Ingham County, MI | 9 | 11.1% | 1 of 28 |
| Cook County, IL | 5 | 0.4% | 33 of 171 |
| Mchenry County, IL | 5 | 5.4% | 7 of 31 |
| Oakland County, MI | 5 | 1.3% | 18 of 69 |
| Clinton County, MI | 3 | 16.7% | 1 of 11 |
| Eaton County, MI | 2 | 5.7% | 5 of 22 |
| Grand Traverse County, MI | 2 | 4.0% | 9 of 22 |
| Jackson County, MI | 1 | 1.7% | 12 of 21 |
Credit unions do not report deposits by branch, so these are branch counts: this credit union's branches against every bank and credit union branch in the county. Rank is among all banks and credit unions with a branch there.
Branches by year
| Year end | Branches | Change |
|---|---|---|
| 2016 | 17 | |
| 2017 | 18 | +1 |
| 2018 | 19 | +1 |
| 2019 | 19 | 0 |
| 2020 | 17 | −2 |
| 2021 | 21 | +4 |
| 2022 | 20 | −1 |
| 2023 | 23 | +3 |
| 2024 | 33 | +10 |
| 2025 | 35 | +2 |
| Jun 2026 | 35 | 0 |
Member-serving offices as listed in NCUA call reports. Changes include branches gained in mergers.
Earnings and credit
Return on assets
Year to date, annualized, with the peer median.
Credit and capital
| This credit union | Peer median | |
|---|---|---|
| Delinquent loans, 60+ days | 1.24% | 0.73% |
| Net worth ratio | 8.96% | 11.36% |
| Loans to shares | 95% | 85% |
Delinquent loans are two or more months past due. Net worth is NCUA's capital measure for credit unions.
Related
Credit unions of similar size in Michigan
Most branches in Ingham County, MI
Figures as of June 30, 2026 from the credit union's NCUA call report (Form 5300), NCUA's credit union locator and FFIEC merger records.