Michigan State University Federal Credit Union is opening a branch in downtown Grand Rapids. Courtesy MSUFCU
A university credit union is coming to downtown.
Michigan State University Federal Credit Union is planning to open its first Grand Rapids branch at 86 Monroe Center St. NW this fall. The new branch will serve nearly 5,000 MSUFCU members who live within 10 miles of the location, including MSU College of Human Medicine students and staff and state of Michigan employees, which are select employee groups of MSUFCU.
MSUFCU President and Chief Executive Officer April Clobes said the credit union has received “significant member requests” to expand its branch location offerings in Grand Rapids.
“The decision to expand to Grand Rapids is part of our long-term growth strategy to better serve our existing members and over 13,000 MSU alumni there,” Clobes said.
86 Monroe Center
The Grand Rapids branch will create 13 new jobs in its first year, including one mortgage officer, two managers and 10 financial service representatives.
MSUFCU said the branch will offer Grand Rapids-area members better account access and additional ATMs. The location will offer services including auto loans, home loans, credit cards, free checking and certificates of deposit.
In an email to its members, MSUFCU said it will give back to the Grand Rapids community through charitable giving, volunteering and financial education, in addition to offering free financial education seminars and events throughout the year.
Designed by Ann Arbor-based Daniels and Zermack Architects, the floor plan calls for a lobby area with two iPads to sign in and eight desks for face-to-face interactions with financial service representatives, as well as four private offices.
The new branch will open Monday through Thursday from 9 a.m. to 5:30 p.m., Friday from 9 a.m. to 6 p.m. and Saturday from 9 a.m. to 3 p.m.
Rockford Construction, which heads the building's ownership group, will provide property management services.
The Grand Rapids office of real estate firm JLL represented MSUFCU as the credit union sought out a location for expansion in the local market.
“We wanted to find the ideal location to help make MSUFCU’s expansion strategy a success, and we felt 86 Monroe Center met their goals,” said Jeff Karger, JLL Grand Rapids senior vice president. “We’re thrilled to play our part in bringing MSUFCU to West Michigan.
Michigan State University FCU
Founded in 1937 by Michigan State University professors, MSUFCU is the world’s largest university-based credit union, offering personal and business-related financial services to Michigan State University and Oakland University faculty, staff, students, alumni and their families.
MSUFCU operates 17 branches and has more than 232,000 members, managing more than $3.48 billion in assets and employing more than 730 people.