MSU Federal Credit Union and University Federal Credit Union have entered into a definitive agreement to combine, creating an institution with more than 850,000 members and $13.5 billion in assets.
The transaction brings together two well-capitalized credit unions with longstanding ties to higher education communities. The combined organization will operate under the corporate name University Federal Credit Union while adopting MSUFCU’s charter.
April Clobes, MSUFCU’s current president and CEO, will become CEO of the combined organization. Michael Crowl, currently president and CEO of UFCU, will serve as president.
The organization plans to continue operating under several brand names, including MSUFCU, UFCU, Oakland University Credit Union, Artichoke Credit Union, Collegiate, AlumniFi, and Pillur. MSUFCU will continue as the primary brand in Michigan and Illinois, while UFCU will continue operating under its existing name in Texas.
The credit unions said members will experience no immediate changes and can continue using their existing account numbers, cards, and digital banking platforms during the transition. The organizations also plan to maintain their existing institutional and community relationships while expanding support for local programs, financial education, and higher education partnerships.
The combination is intended to provide greater financial resources for technology investments, member services, and long-term growth while expanding the organization’s capacity to serve higher education communities nationally. The companies are using the shared message “Building Dreams Together” as they move through the integration process.
The transaction remains subject to customary regulatory approvals.
KEY QUOTES:
“Michael and I share a strong belief that growth isn’t about scale; it’s about value. By uniting our resources, talent, and shared higher education heritage, we are expanding our services and driving greater impact. We are building a resilient organization that will invest in advanced technology and long-term stability to best serve members’ evolving needs today and well into the future.”
April Clobes, President And CEO Of MSU Federal Credit Union
“MSUFCU shares UFCU’s deep commitment to the institutions, faculty, staff, students, alumni, and communities we have proudly served for generations. This partnership brings together two strong organizations with shared focus and conviction that we will accomplish more together than we can apart. By combining our strengths, we will create greater opportunities for our members, expand our ability to serve them, and build on the trust they place in us every day.”
Michael Crowl, President And CEO Of University Federal Credit Union
