Michigan State University Federal Credit Union Acquires American Eagle Bank
East Lansing, Michigan - July 21, 2026 - Michigan State University Federal Credit Union has completed its acquisition of American Eagle Bank, marking the latest step in the credit union’s aggressive expansion into the Chicago market through a series of community bank acquisitions, according to MSUFCU and industry reports. The acquisition became effective July 1, with South Elgin-based American Eagle Bank officially becoming part of the $8.5 billion-asset credit union. Existing bank customers will continue using their accounts while MSUFCU completes a systems conversion in the coming months. Customers may also opt to become full members of the credit union. American Eagle Bank operates offices in South Elgin and Chicago, both of which will continue serving customers as part of the integration process, according to MSUFCU.
"MSUFCU shares your values of exceptional service, strong financial products, and financial empowerment. Through this transition, American Eagle customers will gain access to a broader range of products and services, including wealth management. This acquisition allows us to better support our existing members in the area while warmly welcoming the individuals and businesses served by American Eagle Bank and continuing the relationship focused banking experience they value." - April Clobes, President/CEO
About MSU FCU
MSUFCU was established in 1937 to provide a safe place where members could borrow and save money. Over the years, we've built a strong foundation of relationships with our members - ultimately helping them achieve their dreams. Our employees live our mission every day to spark those moments for members to find financial freedom and security, as they purchase their first cars and homes, start their own businesses, and save for their children's futures.
About American Eagle
American Eagle Bank operates as a state-chartered bank. It offers auto loans; business banking products, including checking accounts and money market accounts; and for individual customers, the bank has personal checking accounts and savings accounts. It also provides banking services, including remote deposit capture for business clients, allowing them to deposit checks electronically without visiting the bank. The company serves municipal entities, local businesses, nonprofits, and individuals and families. American Eagle Bank was founded in 2002 and is headquartered in South Elgin, Illinois.
About McQueen Financial Advisors
McQueen Financial is a nationwide financial advisory firm serving financial institutions since 1999. McQueen has advised on ~25% of all Credit Union / Credit Union Mergers nationwide, annually.
Transaction Leads
Dan Martin
Director of Transaction Advisory & Valuation
Andre Gard, FMVA
Vice President