MSUFCU Recognized as Top Five Credit Union in Forbes Best-In-State
EAST LANSING, Mich. — According to the Forbes 2019 Best In-State Banks and Credit Unions, banks may have earned an average score of 4.2 out of five, but they could not touch credit unions, who earned average scores of 4.5.
Forbes partnered with Statista, a market research firm, to produce its second annual financial institution ranking, which named MSU Federal Credit Union (MSUFCU) in the top five out of 226 credit unions in Michigan for 2019.
“Our mission is to help our members achieve their financial goals and dreams,” said April Clobes, MSUFCU’s CEO/President. ”We are very proud of receiving this recognition as it illustrates our credit union’s commitment to the mission and our members.”
More than 25,000 U.S. consumers were surveyed for their opinions on current and former financial institution relationships. Credit unions were rated on overall recommendations and satisfaction, as well as five sub-dimensions including trust, terms and conditions, branch services, digital services, and financial advice.
There are more than 5,000 credit unions with 117 million members across the U.S. Member-only credit unions typically have lower fees and offer better interest rates than traditional banks, and the not-for-profit model also puts the consumer first, resulting in higher levels of satisfaction. In total, 182 credit unions were awarded as the Best-In-State Credit Unions 2019.
MSUFCU has a national reputation for excellence and has received several top industry and workplace awards. The Credit Union was named Best Workplace in Financial Services and Insurance by Fortune Magazine, received the ATHENA Award® for Organizational Leadership, and for the fifth year, was named West Michigan Best and Brightest to Work For. MSUFCU has been certified as a Great Place to Work® for five consecutive years, and was named as a Top Workplace in the large employer category by the Detroit Free Press for six years in a row. The Credit Union has also been recognized for its financial education initiatives, ranking first for the Alphonse Desjardins Adult and Youth Financial Education Awards, and the Louise Herring Award as well as an honorable mention for the Dora Maxwell Award by the Michigan Credit Union League. Founded in 1937, MSUFCU has 19 branches, more than 278,000 members, nearly $4.5 billion in assets, and more than 900 employees.