Patrick M. McPharlin was appointed Director of the Department of Insurance and Financial Services (DIFS) by Michigan Governor Rick Snyder effective May 18, 2015. Prior to his appointment, Director McPharlin served as the President and CEO of the Michigan State University Federal Credit Union.
DIFS is the State of Michigan department responsible for regulating Michigan's financial industries, including banks, credit unions, insurance, and mortgage companies. DIFS provides a focal point of consumer protection, enables efficient and effective regulation, and positions the insurance and financial services sector of Michigan’s economy for growth. The agency consists of over 350 professionals dedicated to protecting Michigan consumers by ensuring the companies that it regulates are safe and sound, follow state and federal law, and are entitled to the public confidence.
McPharlin previously served as President/CEO of Michigan State Federal Credit Union, which grew to $2.8 Billion and nearly 200,000 members under his leadership. He has received many awards including State of Michigan and National CEO of the Year Awards. He is in the MCUL Hall of Fame. McPharlin also received the Michigan State University Distinguished Alumni Award.
McPharlin has served on many community boards including: Lansing Area Economic Partnership, Prima Civitas, Capital Area United Way and the Michigan State University President’s Campaign Cabinet.
McPharlin holds a B.S. in Social Science from Michigan State University and a M.S. in Management from Aquinas College.