MSUFCU, UFCU Announce Merger To Create $13.5-Billion Credit Union
By CU Today Staff —
EAST LANSING, Mich.—Two of the nation's largest university-affiliated credit unions are joining forces in a merger that would create a $13.5-billion institution serving more than 850,000 members across multiple states, according to WILX News 10.
The boards of MSU Federal Credit Union here and Austin, Texas-based University Federal Credit Union have approved an agreement to combine their organizations, citing opportunities to expand technology, strengthen financial services and build on their shared higher education roots.
The merger brings together $9.3-billion MSUFCU, which serves more than 415,000 members, and $4.2-billion UFCU, which serves more than 430,000 members. Under the agreement, MSUFCU president/CEO April Clobes will become CEO of the combined organization, while UFCU president/CEO Michael Crowl will serve as president. The combined institution will operate under MSUFCU's charter, with University Federal Credit Union as its corporate name, while retaining the MSUFCU brand in Michigan and Illinois and UFCU brand in Texas.
“Michael and I share a strong belief that growth isn’t about scale; it’s about value,” Clobes said. “By uniting our resources, talent, and shared higher education heritage, we are expanding our services and driving greater impact. We are building a resilient organization that will invest in advanced technology and long-term stability to best serve members’ evolving needs today and well into the future.”Crowl said the partnership would expand opportunities for members while preserving the relationships both credit unions have established with universities and their surrounding communities.
The proposed merger is expected to be legally completed in summer 2027, pending regulatory and UFCU member approval.
Originally reported by CU Today.