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MSGCU 2023 Year in Review
CLINTON TOWNSHIP, Mich. – Feb. 8, 2024 – Michigan Schools and Government Credit Union (MSGCU) is proud to share 2023 achievements and highlights, including community support initiatives, award recognitions, and member service enhancements. To support its commitment to the credit union philosophy of “people helping people,” MSGCU and its dedicated team members provided over $270,000 in community support, helping individuals and 259 organizations across our branch office network.
Making a positive impact.
As part of community giving, each MSGCU branch office selected a deserving local organization to receive a $1,000 donation for the credit union’s annual Giving Back program. Funds were presented to various organizations to support their efforts of making our communities a better place, including local fire and police departments, Macomb Foster Closet, and Michigan Veteran Homes. MSGCU also provided $20,000 in sponsorship funds to support 74 organizations in the communities it serves. To help small businesses near its branch offices, MSGCU participated in CU Lunch Local, an annual credit union initiative where team members purchase lunch from their favorite local eateries. MSGCU was proud to support locally owned restaurants with more than $4,200 in purchases.
MSGCU encourages team members to offer their time and talents to organizations in their communities. Throughout last year, credit union team members provided 1,615 volunteer hours to 66 local organizations of their choice. Organization-wide, MSGCU also supported various initiatives through donations and volunteer time, including Food Gatherers in Ann Arbor and Gleaners. Team members also purchased toy donations that were provided to the Snowpile program at Children’s Hospital of Michigan and the Kind program at C.S. Mott Children’s Hospital in Ann Arbor.
The credit union also brought Rachel’s Challenge to Saline High School to help cultivate positive change and further support the communities it serves in this area. This program was created to build a school culture of kindness, compassion, and connection to prevent school violence and bullying. Saline High School students and staff attended training and an assembly focused on fostering a kind and supportive culture. Rachel’s Challenge is an ongoing program throughout the school year, with students participating in daily connection activities and the establishment of the Friends of Rachel club to help them reach their full potential academically, socially, and emotionally.
To support organizations with a mission of helping others, MSGCU is donating a total of $30,800 to three community partners on behalf of our members. The donations are a result of a special 2023 promotion, where MSGCU offered to donate $50 on behalf of members who opened a new checking account and fulfilled various criteria over time. MSGCU is presenting the donations this year to American Lung Association in Michigan, Blessings in a Backpack, and Michigan Concerns of Police Survivors. Each organization is receiving more than $10,000 to support the work they do in the community.
Helping students and educators.
As a credit union rooted in education, MSGCU has robust scholarship and Classroom Cash Grants programs to benefit local students and teachers. Since the inception of these programs, MSGCU has given more than $1.8 million, furthering over 570 educational journeys for local students, and funding nearly 1,200 innovative classroom projects for educators. In 2023, MSGCU provided over $155,000 through scholarships and grants to support career goals and enhance local classrooms.
Scholarships were awarded to students, certified educators, first responders, and those pursuing skilled trades certification. In 2023, $110,500 in scholarships benefited 47 deserving individuals who were celebrated at an award ceremony and reception. 2024 marks the scholarship program’s 20th anniversary, and this year’s application period runs on the credit union’s website, msgcu.org, until February 27. Recipients will be announced in early May.
MSGCU’s Classroom Cash Grants program launched 18 years ago and provides up to $750 grants to teachers. The awards help educators bring innovative project ideas to life in their classrooms that would otherwise go unfunded. Grant recipients are determined through a public voting period. The 2023 program inspired the public to cast more than 108,000 votes for their favorite projects and the credit union funded $45,000 in grants to 64 teachers from 54 schools in southeastern Michigan. Educators purchased resources to provide fun and interesting lessons for their students, enhancing their curriculum in science, math, literacy, and more.
Providing financial education.
As a credit union founded by educators, MSGCU is dedicated to fostering financial literacy for members and the community. Throughout 2023, the credit union provided financial education to nearly 21,000 individuals through classroom presentations, Reality Fairs, in-person and virtual workshops, and through its blog and Interactive Financial Education platform, which allows users to take quick lessons or a full playlist on a variety of topics at their leisure.
Honored by awards and accolades.
MSGCU is committed to giving back in meaningful ways through financial literacy efforts and community support. Last year, the credit union was humbled to receive a state level recognition from Credit Union National Association, earning a second place Alphonse Desjardins Adult Financial Education Award for its workplace education program.
In addition, MSGCU was honored to receive a Top Workplaces recognition from the Detroit Free Press for the 11th consecutive year. “MSGCU is dedicated to providing a positive work environment for our team members, which ensures we are always delivering excellent service to our members,” said Steve Brewer, MSGCU President/CEO. “This award is especially meaningful since it demonstrates the pride we have in the work we do for our members and how we value our role as their financial champion.”
Enhancing member services.
MSGCU opened two new branch offices in 2023, located in Canton and Rochester Hills. The Canton branch office on Ford Road opened in March and is the credit union’s second location in Wayne County. Late last year, MSGCU also opened its Rochester Hills branch office at the corner of Walton Boulevard and Adams, which marked the 20th MSGCU branch office across metro Detroit and seventh in Oakland County. The credit union continues to expand its branch network and opened a new location in January 2024 in Ann Arbor on West Stadium Boulevard, south of Liberty. An additional branch is opening in 2024 in Shelby Township on 26 Mile Road and Van Dyke.
To fulfill its commitment of providing convenient and efficient member services, MSGCU launched various service improvements last year. Highlights include a digital referral program to make it easy to recommend family and friends to MSGCU and earn rewards, and a new online account opening experience that allows new members to quickly join the credit union. MSGCU also launched an improved version of its QuickPay payments solution, simplifying payments for MSGCU loans, credit cards, and mortgages when using funds from another bank or credit union.
To help members avoid payday lenders and support them when unexpected expenses arise, the credit union introduced its Member Fast Cash loan, which members can apply for 24/7 online. The application process takes less than a minute and this loan is based on the member’s relationship with MSGCU and does not require a credit score check. Loans of $1,000 to $4,000 are offered, with funds distributed right to an MSGCU account upon approval.
With a focus of helping members achieve financial success, MSGCU was proud to announce Credit Score, its tool that provides members with free, 24/7 access to their credit score and credit report. Available in MSGCU’s Online Banking and Mobile App, Credit Score helps members understand key factors that impact their score, provides suggestions for improving it, and presents personalized recommendations on how MSGCU can save them money.
Moving forward.
The credit union experienced another successful year in 2023 and the MSGCU team is looking forward to serving members in the year ahead. The credit union's mission is to be a caring organization dedicated to promoting financial success for its members. MSGCU will continue to provide value to its membership by keeping fees low and providing market-leading rates to help members grow their savings and keep more money in their pockets.
“Last year’s accomplishments are a result of our dedication to providing an excellent experience for our members and ensuring our products and services are easily accessible, whether it’s online or in a branch office,” said Brewer. “In 2024, we look forward to welcoming members to our new branches and will continue to uphold our commitment to improving products and services to make it even easier to bank with us.”