MSUFCU President/CEO April Clobes, Regional System President at University of Michigan Health Margaret Dimond, Ph.D., and Lansing Mayor Andy Schor at the announcement of MSUFCU and Sparrow's new partnership.
Credit/MSUFCU
Michigan State University Federal Credit Union (MSUFCU) announced a new partnership that, in a way, combines financial health with physical health.
During a press conference Tuesday, the East Lansing, Mich.-based MSUFCU ($7.6 billion in assets, 355,456 members) and Sparrow Health System in Lansing, Mich., announced a new partnership that will not only add an MSUFCU location inside the E.W. Sparrow Hospital, but will give hospital staff better access to financial products and services.
"MSUFCU is pleased to partner with Sparrow leadership and to be returning to Sparrow to support caregivers, our members, and the community," MSUFCU President/CEO April Clobes said. "This renewed partnership provides unique opportunities for financial education programs and specialized products. The new location will feature video tellers, a technology bar and office space for member meetings."
According to details of the partnership, MSUFCU will provide the following "specialty offerings" for Sparrow employees:
- Special-Term Hero Loans and Professional Mortgages: A simplified mortgage process with preferred terms.
- Commercial Loans and Lines of Capital: Financing for professional needs, including equipment and office space.
- Nurse and EMT Student Loans: Special student loans for employees to go back to school to get necessary certifications/degrees. Deferred payments and rate reduction with direct deposit.
- Wealth Management Solutions: Short- and long-term investment resources to help staff members make the most of their money.
- Financial Education Services: Employee opportunities for all shifts, virtually and in person. Topics include budgeting, first-time home buying, responsible credit and account security.
Margaret Dimond, Ph.D., regional system president at University of Michigan Health, which is part of the Sparrow system, said, "We are excited to enhance our partnership with MSUFCU and for what it means for our community and our Sparrow team members. MSUFCU has been a dedicated partner in the health of our community since their first gift to the Sparrow Foundation in 1994. We're proud to partner with them to provide even more support for all those we serve together."
During Tuesday's announcement, MSUFCU also presented a $25,000 to the Sparrow Foundation to support the Care for the Caregivers Fund, Hospital Week and Nurses Week. MSUFCU will also make a $10 donation with each new Sparrow employee membership.
The new hospital location will open in the summer of 2024.
MSUFCU currently has 26 branch locations and officials expect to open another 10 branches in the Chicago area this year. With the new location at the E.W. Sparrow Hospital, MSUFCU could up their total branch number to at least 37 locations by the end of 2024.
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Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
