The Michigan State University Federal Credit Union will be partnering with other local credit unions and banks in an innovative program called Bank on Michigan. 

The goal of Bank on Michigan is to provide financial services to those currently not using a financial institution to take care of their banking needs.

The target group will be 50 individuals with poor or no credit who need an opportunity to build credit history or just to get back on their feet financially.  The program will offer a low or no-cost checking and savings account, the Micro Loan Program, which lends up to $500 to eligible participants, and the Income Tax Refund Anticipation Loan, which advances the tax return amount to those eligible until they receive their tax refund.

Participants in the program will be required to attend a four-module training program at the Ingham County Human Services Building.  The training topics will include basic banking instruction, credit history, budgeting and income tax preparation.

The program was founded by Eric Schertzing, Ingham County treasurer, and Virg Bernaro, mayor of Lansing.

MSUFCU, the world’s largest University-based credit union, serves MSU and Oakland University faculty, staff, students, alumni association members and their families worldwide with more than 149,000 members with a full range of personal and business-related financial services.

For more information about the program, visit http://www.msufcu.org.

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