SpringFour Partner of the Month: Michigan State University Federal Credit Union (MSUFCU)
Giving students and alumni effective digital tools to support their financial health.
This March, we’re recognizing Michigan State University Federal Credit Union (MSUFCU) as our Partner of the Month, for their delivery of critical financial health support and real business impact. Through its partnership with SpringFour, MSUFCU demonstrates how responding to members’ needs and interests drives measurable business results.
Empowering members to find financial freedom
Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the sixth year, a Top Workplace by the Detroit Free Press for 13 consecutive years, has been recognized by the Credit Union National Association and earned first place for the people-helping-people philosophy Louise Herring Award.
Now serving over 367,000 members through 35 branches with more than $8 billion in assets, MSUFCU has demonstrated a long-standing commitment to its community. Giving back is one of the company’s core values. It shows up through support for entrepreneurship, financial education programs, access to stable housing, fostering access to the arts, and youth empowerment initiatives.
A partnership built on responding to the community’s needs
With many Americans grappling with a cost of living crisis, the situation is even more precarious for students. According to Inside Higher Ed, approximately 48% of students who experience financial challenges while enrolled in higher education say they have difficulty concentrating on academics because of their finances.
MSUFCU heard this reality from its members, many of whom were having a hard time keeping up with bills and staying on top of their personal finances. Those who sought out resources on their own reported that the results of online searches were populated with sponsored advertisements and services offered at a premium, making it that much harder to find trustworthy assistance.
Initially, SpringFour and MSUFCU partnered on a pilot program where a select group of members were given access to a self-service, digital gateway to local financial wellness resources. The results were astounding.
SpringFour’s innovative approach to financial health was the perfect match for the lab at MSUFCU, our center for financial innovation, and it’s exciting to see it now offered to all of our members. With this next step in the partnership, we’re proud to empower the community with cutting-edge tools that improve financial health.
MSUFCU members embrace SpringFour’s resource hub
Members responded overwhelmingly to the pilot, with strong engagement, a solid conversion rate, positive member sentiment, and high interest.
Now, under the extended partnership, all MSUFCU members have access to S4connect, SpringFour’s all-in-one direct-to-consumer self-serve financial wellness solution. Through S4connect, MSUFCU members can access thousands of curated and vetted local government and nonprofit financial health resources through a centralized hub.
Resources included student loan support, rental and debt assistance, food and utilities, mental health and transportation, available digitally as well as while visiting the credit union’s Michigan and Chicago branches. Through the self-serve tool, members can quickly identify and act on vetted, reliable resources.
Not only am I a proud and involved MSU alumna, but I also believe that this partnership is an important step to supporting students, alumni, employees, and other MSUFCU members in their financial success, both now and after graduation. With access to financial health resources that make a difference in real time, individuals can find their financial footing while feeling supported by the credit union. It’s a win-win.
Delivering a win-win solution for financial health
With the results of the pilot program, this expanded partnership offers an exciting new opportunity.
Now, MSUFCU members can find what they need for their most pressing challenges. SpringFour dramatically improves accessibility to localized resources, addressing the challenges of time-consuming and confusing searches.
As a facilitator of practical, local solutions, MSUFCU’s collaboration with SpringFour under this new program has the potential to deepen member trust and encourage even broader engagement.
Congratulations to the MSUFCU team for serving as an example of truly listening to members, prioritizing their feedback, and committing to supporting their future financial health.
Awards and Recognition
