MSUFCU announces merger with Clarkston Brandon Community Credit Union
Monday, March 28, 2016
Posted by: Eric Dimoff
The MSUFCU Board of Directors and management are pleased to announce that MSUFCU was recently awarded an opportunity for expansion in the metro-Detroit area through a merger with Clarkston Brandon Community Credit Union (CBCCU).
CBCCU, headquartered in Clarkston, Michigan, will be dual-branded as MSUFCU and Oakland University Credit Union (OU Credit Union), a trade name of MSUFCU. MSUFCU currently has 34,000 members who live in the counties served by CBCCU.
The merger will allow MSUFCU to grow and expand its services to individuals in these counties and will provide CBCCU members with additional products and services and increased account access. Once all systems are fully converted, MSUFCU members will have access to two new branch locations in Oakland County — one in Clarkston and the other in Ortonville, Michigan — as well as to three additional ATMs. CBCCU members will benefit from extended hours and additional services including eDeposit, live chat, and mobile banking.
“We are excited for the opportunity to serve the CBCCU members and fulfill the credit union philosophy of ‘people helping people,’” said April Clobes, MSUFCU’s President and Chief Executive Officer. “This merger allows us to help a community‐focused credit union and its members by providing our enhanced portfolio of financial products and services, thousands of ATMs through the CO‐OP ATM network, and expanded technological offerings. Additionally, the merger complements our long-term growth strategy to better serve our existing 34,000 members and over 115,000 MSU and OU alumni in the metro-Detroit area.”
Clarkston Brandon Community Credit Union currently serves those who live, work, worship, attend school, or have a business in Oakland, Genesee, Lapeer, Livingston, or Macomb counties. CBCCU has approximately 8,500 members and an asset size of $41 million.
MSU Federal Credit Union, the world’s largest university-based credit union, offers a full range of personal — and business-related — financial services to Michigan State University and Oakland University faculty, staff, students, alumni association members, and their families worldwide in addition to a variety of select employee groups. Founded in 1937 by a few MSU professors and employees, MSUFCU has 15 branches,
nearly 210,000 members, more than $3 billion in assets, and over 650 employees. In 2015, MSUFCU was named as one of the Nation’s Best and Brightest Companies to Work For and one of the Nation’s Best and Brightest in Wellness by the National Association for Business Resources, and was listed as the fifth top employer in the large-employer category in the 2015 Top Workplaces list by the Detroit Free Press.