Potential Downtown East Lansing Project
MSUFCU is exploring the potential purchase of property at the corner of Albert Street and Abbot Road in East Lansing, Michigan. This opportunity, presented by the City of East Lansing, will enhance the Credit Union's commitment to the East Lansing community, as well as support its long-term growth plans.
The Credit Union has been an active and committed member of the East Lansing community since our founding in 1937. As our organization has grown to serve members across the state, we have continued to invest in growing our operations in the East Lansing community. We currently have two buildings on our headquarters campus in North East Lansing that are occupied with nearly 700 of our 900+ employees. We are excited about the opportunity to have an increased presence in the core of Downtown East Lansing and to bring new community space, student intern opportunities, and employment opportunities to the area.
After meeting with the City, we determined that this property met our needs of potentially relocating our East Lansing branch and intern center, both which are in leased spaces downtown, into a location that we would own. This is long-term financially beneficial to the Credit Union and its members. The current design for the building would house the branch, and would allow us to expand the size of our intern center while maintaining a walkable location for our student interns. We are also planning to have a community room similar to the ones we have at our headquarters buildings to host events and community activities. Our community rooms are available to non-profit organizations and our partners for use.
The building will also provide several floors for office operations that would support the Credit Union's future plans and several potential new initiatives that would add new jobs to the community. We have a robust benefits package including health insurance, tuition reimbursement, and 401K match, paid parental leave, and more. We believe the addition of office space for those working in East Lansing would bring a positive opportunity for the City and businesses in the area. We are also looking forward to providing an opportunity for our employees to work in a walkable city with access to nearby coffee shops, restaurants, and Michigan State University's campus.
Other ideas that we are exploring for the building is to provide space to small local businesses to have pop-up locations to generate interest and awareness in their businesses. This would create additional engagement with our members visiting the branch and help the community support entrepreneurs.
Over our 82 years, we have grown to be $4.6 billion in assets serving over 286,000 members worldwide. We are ranked as the 46th largest credit union in the United States, out of over 5,100.
The Credit Union has been recognized as a best place to work, and the office environment designs reflect our core values, including workout facilities for employees and community rooms for community engagement.
The community has been a great partner with the Credit Union over our 82 years in business and we want to continue to be a great partner by supporting economic development and job growth in our region.