MSUFCU has made a nearly $5 million financial commitment to OU over 10 years as part of this new partnership agreement. Portions of this support have been earmarked for beneficial campus programs and initiatives, including:
- a $25,000 endowed student scholarship;
- a $25,000 Dean's Choice Grant Program;
- a variety of signature sponsorships, and;
- in-kind marketing.
In addition to opening a new OUCU branch in the Oakland Center, providing several ATM locations on campus, offering financial education services and more, MSUFCU will begin operations at its 3265 Five Points Drive branch as Oakland University Credit Union.
"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 and Chief Executive Officer 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."
John Young, OU's assistant vice president for communication and marketing, added that Oakland stands only to gain from the enhanced partnership.
"This agreement gives everyone in the campus community access to great financial services, and at the same time offers OU supporters another way to express their pride and loyalty to what has become one of the state's most respected and fastest growing institutions of higher learning," he said.
"The credit union's commitment to Oakland – and particularly to its students – is outstanding and we look forward to a long continuing relationship."
MSU Federal Credit Union, the world's largest university-based credit union, offers a full range of personal- and business-related financial services to Michigan State University and Oakland University faculty, staff, students, alumni association members, and their families worldwide in addition to a variety of select employee groups. Founded in 1937 by a few MSU professors and employees, MSUFCU now has twelve branches, over 175,000 members, more than $2.4 billion in assets, and over 515 employees.