Less than a month after he retired as president/CEO of the $2.7 billion Michigan State University Federal Credit Union, Pat McPharlin was appointed to a new job as Michigan's director of the Department of Insurance and Financial Services.

Michigan Gov. Rick Snyder announced McPharlin's appointment on Tuesday.

McPharlin retired from the East Lansing-based MSUFCU on March 17 following 14 years as its CEO. He launched his career at the credit union in 1973. Under his leadership, MSUFCU's assets grew from $546 million to more $2.6 billion. He also increased membership from 97,000 to more than 183,000.

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