The $2.4 billion Michigan State University Federal Credit Union said it is strengthening its existing partnership with Oakland University, including establishing an Oakland University Credit Union trade name for financial services at the suburban Detroit school.
Oakland University was established in 1957 as Michigan State University-Oakland and has had a SEG relationship with MSUFCU since then as it grew to its current student body of nearly 20,000 undergraduate, graduate and medical school students.
The school’s Oakland Center will have a branch of its own and the existing OU branch of MSUFCU on Five Points Drive will also carry the OUCU brand, the 171,000-member East Lansing-based credit union said.
The enhanced partnership involves a commitment of nearly $5 million over 10 years to the Oakland County institution, including supporting a $25,000 endowed student scholarship, $25,000 Dean’s Choice Grant Program, a variety of signature sponsorships, in-kind marketing, financial education and ATMs on campus.
“At MSUFCU, it’s our mission to provide superior service while assisting members and employees to achieve financial security, their goals, and ultimately, their dreams,” said MSUFCU President/CEO Patrick McPharlin.
“This new opportunity will allow us to continue our mission at Oakland University Credit Union, and provide the OU students, faculty, and community with the right tools and resources to help them achieve those financial goals,” he said.