ALGONQUIN/McHENRY, Ill.—Following the acquisition of two banks, Michigan State University Federal Credit Union (MSUFCU) has opened two new branches in Northern Illinois.
The branches, in Algonquin and McHenry, respectively, follow MSUFCU’s acquisition of Algonquin State Bank and McHenry Savings Bank in 2024, and bring to five the number of branches the credit union is operating in the area.
“MSUFCU has long supported members beyond Michigan through our digital services,” President and CEO April Clobes said in a statement. “With a local presence in Northern Illinois, we’re better positioned to provide personalized financial tools and trusted guidance to help individuals and businesses build financial security and achieve their goals. Our focus is on expanding access to savings, loans, home financing, business services, and financial education to support strong, thriving communities.”
In addition to offering personalized financial support, the $8.26-billion MSUFCU said it is also focused on creating long-term value through accessible products, trusted guidance, and financial education.
‘Community Hubs’
“Many branch locations will also serve as hubs for community events, local partnerships, and collaboration,” the credit union said.
During the grand openings, MSUFCU presented donations of $10,000 to Veterans Path to Hope of McHenry and $10,000 for Lakeside Legacy Foundation/The Dole and 4th Fridays Art Event of Algonquin.
“Opening a new branch is a commitment to becoming a true partner in the community,” Arianna Ridderbusch, VP-community impact at MSUFCU, said in a statement. “We are proud to support organizations like Veterans Path to Hope, which gives a fresh start to our nation’s heroes, and The Dole, which preserves local history while hosting vibrant events like the 4th Fridays Art Event. These partnerships reflect a core belief that a strong community is built on both financial well-being and a foundation of compassion and creativity.”
MSUFCU has more than 370,000 members.
