EAST LANSING, Mich. — MSU Federal Credit Union (MSUFCU) has been honored with four 2020 awards from the Michigan Credit Union League (MCUL).
The first-place award is for the Louise Herring Philosophy-in-Action Member Service Award, which recognizes credit unions demonstrating the practical application of the credit union “people helping people” philosophy for their members. Another first-place award forAlphonse Desjardins Award for adult education, honoring leadership within the credit union movement on behalf of youth and adult financial literacy, and twosecond-place awards for the Dora Maxwell Award, recognizing community service achievements by credit unions, andAlphonse Desjardins Award for youth education.
“These awards recognize our dedication in the areas of member and community service, as well as in financial education,” said Deidre Davis, MSUFCU’s Chief Marketing Officer. “As a financial institution, we believe it is our responsibility to improve the financial health of our community, and that by empowering individuals and contributing to a stronger community, we are fulfilling our core value of giving back.”
MSUFCU received the first-place Louise Herring Award for its new savings product, Savings BuilderSM. In response to the economic impact of the novel coronavirus, MSUFCU launched this account to help members better prepare for future emergencies and build their emergency funds faster. The blended-rate account is tiered to encourage members to save at least $1,000 for emergency expenses. There are three tiers, in which lower balances earn higher dividends.
The Credit Union was recognized with the second-place Dora Maxwell Award for its foundation, the Desk Drawer Fund. In April 2019, MSUFCU established the Desk Drawer Fund to further our commitment to the communities we serve. Its mission is to empower members, employees, and other businesses to contribute to a universal wellbeing by investing in our local communities and helping them flourish. The Desk Drawer Fund provides support for numerous initiatives across the sectors of five identified pillars to support local organizations: Arts & Culture, Empowering Youth, Financial Education, Stable Housing, and Fostering Entrepreneurialism.
The first-place for theAlphonse Desjardins Award recognized the Credit Union’s podcast, Wallet Watch, in the adult category. The second-placefor theAlphonse Desjardins Award was for the Crredit Union's Financial Reality Fairs, in the youth category. In 2019, we launched Wallet Watch, a podcast hosted by financial educators at MSUFCU and OU Credit Union (a trade name of MSUFCU).
Wallet Watch provides an additional avenue for the Credit Union to expand its reach to college students and young professionals. With the increase in popularity of podcasts, MSUFCU uses this platform to provide financial and everyday life tips. Topics include financial responsibility, professional development, overcoming obstacles, and more.
Every spring, MSUFCU sponsors a Financial Reality Fair for the Lansing School District. Financial Reality Fairs provide hands-on experiences in which high school students navigate through real-life scenarios, including careers and starting salaries to prepare them to be financially successful adults. This past year, we expanded the program to other local schools, including the Lansing Community College (LCC) early college program, Haslett High School, LCC West Campus, Ingham Intermediate School District, and Brandon High School.
MSUFCU has a national reputation for excellence and has received several top industry and workplace awards. The Credit Union was named as a Top Workplace in the large employer category by the Detroit Free Press for eight consecutive years, received a 5-star rating from Bauer Financial in 2020, was named a Top 100 Best Workplace for Women by Fortune for the third year, and is in the top five Michigan credit unions by Forbes Best-in-State Credit Unions. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine two consecutive years, received the ATHENA Award® for Organizational Leadership, and was named West Michigan Best and Brightest to Work For the eighth year in a row. The Credit Union earned the ranking of one of Michigan’s Best and Brightest in Wellness for the ninth consecutive year, and has been certified as a Great Place to Work® for seven consecutive years. MSUFCU has also been recognized by the Michigan Credit Union League: first place for the people-helping-people philosophy 2020 Louise Herring Award; first place for the 2020 Alphonse Desjardins Adult Financial Education Award; second place for the community service 2020 Dora Maxwell Award; and honorable mention for the 2020 Alphonse Desjardins Youth Financial Education Award. Founded in 1937, MSUFCU is headquartered in East Lansing, MI, has 21 branches, almost 300,000 members, over $5.5 billion in assets, and nearly 900 employees. For more information, visit msufcu.org.