Introduction to MSUF

The credit union first came into existence in 1979 and has been operating for the last 43 years. MSUF is based in the state of Michigan and is also the second largest credit union operating in the state; this is calculated based on its total assets. MSUF’s deposits are insured by the National Credit Union Administration (NCUA), which operates very similarly to the Federal Deposit Insurance Corporation, except with a focus on credit unions. The NCUA also regulates and supervises MSUF’s operations. The company has a total of 21 branches and employs a total of 1,014 employees.

Details on the Credit Union’s Balance Sheet

Some of the key components of the credit union’s balance sheet are total assets of $6,531 million, total loans extended to customers of $5,567 million and customer deposits of $4,546 million. Furthermore, the credit union has a loan to deposit ratio of 82% which is higher than credit unions of comparable size. MSUF’s peer set of credit unions have a loan to deposit ratio of approximately 74%. A lower ratio is better since it means that a credit union’s lending activities are more comfortably covered by its deposit base. Taking a closer look at the credit union’s loan portfolio, we see that mortgages and lines of credit represent 45% of the total and currently stands at $2,030 million, while there is $1,264 million of loans outstanding from auto loans which represents 28% of the credit union’s loan portfolio.

Contact and Other Helpful Information

  • Main Office Address: 3777 West Rd, East Lansing, MI 48823-8029
  • Website:
  • Phone: (517) 333-2424
  • Charter Number: 23279
  • Charter Year: 1979
  • Employees: 1,014
  • Routing Number: 272479663
  • Membership: On average, credit unions in Michigan each have 27,640 members while across the United States the equivalent figure is 25,779. By comparison, MSUF has total members of 317,505 which is significantly larger than the average credit union in the state. Over the past three years, the credit union’s total base of members has increased by 18%.

MSUF: Financial Overview


As shown in the above chart, MSUF’s assets have grown by 18.7% over the past year, while its mortgages and lines of credit – which is its largest category of lending – have expanded by 12.0% over the past year. Furthermore, the company’s deposits have grown by 35.9% while its total loans have increased by 10.9%. A credit union’s net worth is a good proxy for the value that a credit union has accrued over time. Based on the latest available information, MSUF’s net worth stands at $613 million. This implies that the credit union has a net worth per member of $1,930 which is greater than the national average of $1,606.

Overview of the Credit Union’s Performance Metrics


The chart above compares MSUF’s performance on three metrics to credit unions in its peer group and also shows the credit union’s performance on each metric in the prior year. These are some of the important measures for a credit union’s performance that we look at. Starting with the company’s return on assets, on this metric MSUF is well above the average credit union in its peer set and over the past year ROA has improved substantially with a total change of 0.42%. Return on assets tells us how productive a company is being with its asset base. The delinquency rate is a measure of what percentage of an entity’s loan book has fallen past due i.e. is delinquent. All else equal, a higher rate implies a worse performing loan portfolio. In the case of MSUF its delinquency rate is below its peers and over the past 12 months the credit union’s delinquency rate has been relatively stable. Finally, the net worth ratio for the credit union is 9.4% which is below its peer group average of 9.8%. This metric has been relatively stable on a year over year basis and stood at 9.6% a year ago. Based on the NCUA guidelines, the credit union is considered to be well capitalized.


Our final rating for MSUF, after assessing the credit union on what we consider to be the important metrics, is 3.4 out of 5.0, which is very good. Finally, please note that the rating information presented is based on our proprietary scoring system. None of the work presented is intended to be investment advice or advice of any sort and is presented purely for informational purposes.