1st MidAmerica Credit Union is a not-for-profit financial cooperative headquartered in Oak Brook, Illinois, United States. It was founded in 1935 as the Consumers Cooperative Credit Union and is the third largest credit union in the United States, with over $15 billion in assets and more than 800,000 members.
1st MidAmerica offers a wide range of financial products and services to its members, including checking and savings accounts, loans, mortgages, and investments. The credit union also provides financial education and counseling services to its members. 1st MidAmerica is committed to providing its members with the highest level of service and convenience, and it has been recognized for its commitment to excellence by numerous organizations.
1st MidAmerica Credit Union is a valuable resource for its members, and it plays an important role in the financial well-being of the communities it serves. The credit union is committed to providing its members with the best possible financial products and services, and it is always looking for ways to improve its offerings. 1st MidAmerica is a strong advocate for the credit union movement, and it is committed to helping its members achieve their financial goals.
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1st MidAmerica Credit Union
1st MidAmerica Credit Union is a not-for-profit financial cooperative with over 800,000 members and $15 billion in assets. It is the third largest credit union in the United States and offers a wide range of financial products and services to its members.
- Financial services: 1st MidAmerica offers a wide range of financial services to its members, including checking and savings accounts, loans, mortgages, and investments.
- Financial education: 1st MidAmerica provides financial education and counseling services to its members to help them make informed financial decisions.
- Commitment to excellence: 1st MidAmerica is committed to providing its members with the highest level of service and convenience, and it has been recognized for its commitment to excellence by numerous organizations.
- Community involvement: 1st MidAmerica is committed to giving back to the communities it serves, and it supports a variety of charitable organizations and initiatives.
- Member-owned: 1st MidAmerica is a member-owned cooperative, which means that its profits are returned to its members in the form of lower interest rates on loans and higher interest rates on savings accounts.
- Not-for-profit: 1st MidAmerica is a not-for-profit organization, which means that its focus is on serving its members, not on making a profit.
- Federally insured: 1st MidAmerica is federally insured by the National Credit Union Administration (NCUA), which means that its members' deposits are safe up to $250,000.
- Convenient locations: 1st MidAmerica has over 100 branches and 300 ATMs located throughout Illinois, Wisconsin, and Iowa.
These are just a few of the key aspects that make 1st MidAmerica Credit Union a valuable resource for its members. 1st MidAmerica is committed to providing its members with the best possible financial products and services, and it is always looking for ways to improve its offerings. 1st MidAmerica is a strong advocate for the credit union movement, and it is committed to helping its members achieve their financial goals.
1. Financial services
1st MidAmerica Credit Union is a financial institution that provides a wide range of financial services to its members. These services include checking and savings accounts, loans, mortgages, and investments. 1st MidAmerica is a not-for-profit organization, which means that its focus is on serving its members, not on making a profit. As a result, 1st MidAmerica is able to offer its members competitive rates on loans and other financial products.
The financial services offered by 1st MidAmerica Credit Union are essential to the financial well-being of its members. Checking and savings accounts allow members to manage their money and save for the future. Loans can help members purchase homes, cars, and other big-ticket items. Mortgages allow members to purchase homes. Investments can help members grow their wealth over time.
1st MidAmerica Credit Union is committed to providing its members with the best possible financial products and services. The credit union is constantly looking for ways to improve its offerings and to meet the needs of its members. 1st MidAmerica is a valuable resource for its members, and it plays an important role in the financial well-being of the communities it serves.
2. Financial education
1st MidAmerica Credit Union is committed to providing its members with the best possible financial products and services, including financial education and counseling services. These services are designed to help members make informed financial decisions and improve their overall financial well-being.
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- Understanding financial concepts: 1st MidAmerica provides financial education and counseling services to help members understand basic financial concepts, such as budgeting, saving, and investing. This can help members make better financial decisions and avoid costly mistakes.
- Managing debt: 1st MidAmerica provides financial education and counseling services to help members manage debt effectively. This can help members get out of debt faster and improve their credit scores.
- Planning for the future: 1st MidAmerica provides financial education and counseling services to help members plan for the future. This can help members save for retirement, buy a home, or start a business.
- Protecting your finances: 1st MidAmerica provides financial education and counseling services to help members protect their finances. This can help members avoid identity theft, fraud, and other financial scams.
The financial education and counseling services offered by 1st MidAmerica Credit Union are an essential part of the credit union's mission to help members achieve their financial goals. These services can help members make informed financial decisions, avoid costly mistakes, and improve their overall financial well-being.
3. Commitment to excellence
1st MidAmerica Credit Union's commitment to excellence is evident in all aspects of its operations, from the friendly and helpful customer service to the innovative and convenient products and services it offers. This commitment has been recognized by numerous organizations, including:
- J.D. Power: 1st MidAmerica has been ranked highest in member satisfaction among credit unions in the Midwest region by J.D. Power for 11 consecutive years.
- Forbes: 1st MidAmerica has been named one of the "World's Best Banks" by Forbes magazine for four consecutive years.
- U.S. News & World Report: 1st MidAmerica has been ranked as one of the "Best Credit Unions" in the United States by U.S. News & World Report for six consecutive years.
These awards and accolades are a testament to 1st MidAmerica's commitment to providing its members with the best possible financial products and services. 1st MidAmerica is constantly looking for ways to improve its offerings and to meet the needs of its members. As a result, 1st MidAmerica is a trusted and reliable financial partner for its members.
4. Community involvement
1st MidAmerica Credit Union is a not-for-profit financial cooperative that is committed to giving back to the communities it serves. The credit union supports a variety of charitable organizations and initiatives, including those that focus on education, financial literacy, and community development.
- Education: 1st MidAmerica Credit Union supports a variety of educational initiatives, including scholarships for students, financial literacy programs for adults, and grants to schools.
- Financial literacy: 1st MidAmerica Credit Union provides financial literacy programs to help people understand how to manage their money and make informed financial decisions.
- Community development: 1st MidAmerica Credit Union supports a variety of community development initiatives, including affordable housing programs, small business loans, and community gardens.
1st MidAmerica Credit Union's commitment to community involvement is evident in the many ways that it supports the communities it serves. The credit union's charitable giving and volunteerism help to make a difference in the lives of many people. 1st MidAmerica Credit Union is a valuable resource for its members and the communities it serves.
5. Member-owned
1st MidAmerica Credit Union is a member-owned cooperative. This means that it is owned by its members, not by shareholders. As a result, 1st MidAmerica is able to return its profits to its members in the form of lower interest rates on loans and higher interest rates on savings accounts.
For example, 1st MidAmerica currently offers a rate of 2.25% on its 12-month share certificate, which is higher than the national average rate of 1.75%. 1st MidAmerica also offers a rate of 4.25% on its 3-year share certificate, which is also higher than the national average rate of 3.00%.
The fact that 1st MidAmerica is a member-owned cooperative is one of the things that makes it a great option for consumers. By choosing to bank with 1st MidAmerica, consumers can benefit from lower interest rates on loans and higher interest rates on savings accounts.
6. Not-for-profit
1st MidAmerica Credit Union is a not-for-profit financial cooperative. This means that it is not owned by shareholders, and its profits are not distributed to shareholders. Instead, 1st MidAmerica's profits are reinvested in the credit union to benefit its members.
- Lower interest rates on loans
Because 1st MidAmerica is not-for-profit, it can offer lower interest rates on loans to its members. This can save members money on their monthly payments and help them to pay off their debt faster. - Higher interest rates on savings accounts
1st MidAmerica can also offer higher interest rates on savings accounts to its members. This can help members to grow their savings faster and reach their financial goals sooner. - More flexible lending criteria
1st MidAmerica is more likely to approve loans for members who have lower credit scores or who do not meet traditional lending criteria. This can help members to get the financing they need to purchase a home, car, or other big-ticket item. - Community involvement
1st MidAmerica is committed to giving back to the communities it serves. The credit union supports a variety of charitable organizations and initiatives, including those that focus on education, financial literacy, and community development.
1st MidAmerica Credit Union's not-for-profit status is one of the things that makes it a great option for consumers. By choosing to bank with 1st MidAmerica, consumers can benefit from lower interest rates on loans, higher interest rates on savings accounts, and more flexible lending criteria.
7. Federally insured
The fact that 1st MidAmerica is federally insured by the NCUA is an important benefit for its members. It means that their deposits are safe up to $250,000, even if the credit union fails. This is a valuable protection, especially in the current economic climate.
The NCUA is a federal agency that insures deposits at credit unions. It was created in 1934 in response to the Great Depression, when many banks failed and people lost their savings. The NCUA has been insuring deposits at credit unions ever since, and it has never lost a penny of insured deposits.
1st MidAmerica is one of over 6,000 credit unions that are insured by the NCUA. Credit unions are not-for-profit financial cooperatives that are owned by their members. They offer a wide range of financial products and services, including checking and savings accounts, loans, and mortgages.
1st MidAmerica is a safe and sound financial institution. It has a long history of serving its members and is committed to providing them with the best possible financial products and services.
8. Convenient Locations
1st MidAmerica Credit Union is committed to providing its members with convenient access to its financial products and services. The credit union has over 100 branches and 300 ATMs located throughout Illinois, Wisconsin, and Iowa. This makes it easy for members to conduct their banking business, no matter where they are.
- Branch Locations: 1st MidAmerica has branches in major cities and towns throughout Illinois, Wisconsin, and Iowa. This makes it easy for members to find a branch that is convenient for them.
- ATM Network: 1st MidAmerica has over 300 ATMs located throughout Illinois, Wisconsin, and Iowa. This gives members easy access to their cash and allows them to make deposits and withdrawals at their convenience.
- Online and Mobile Banking: 1st MidAmerica also offers online and mobile banking services. This allows members to bank from anywhere, at any time.
- 24/7 Customer Service: 1st MidAmerica provides 24/7 customer service. This means that members can get help with their banking needs, no matter when they need it.
1st MidAmerica's convenient locations and extensive ATM network make it easy for members to access their financial products and services. This is a valuable benefit for members, especially those who are busy and on the go.
FAQs about 1st MidAmerica Credit Union
1st MidAmerica Credit Union is a not-for-profit financial cooperative with over 800,000 members and $15 billion in assets. It is the third largest credit union in the United States, and it offers a wide range of financial products and services to its members.
Question 1: What are the benefits of joining 1st MidAmerica Credit Union?
There are many benefits to joining 1st MidAmerica Credit Union, including:
- Lower interest rates on loans
- Higher interest rates on savings accounts
- More flexible lending criteria
- Access to a wide range of financial products and services
- Convenient locations and ATM network
- 24/7 customer service
Question 2: Is my money safe at 1st MidAmerica Credit Union?
Yes. 1st MidAmerica Credit Union is federally insured by the National Credit Union Administration (NCUA), which means that your deposits are safe up to $250,000.
Question 3: How do I become a member of 1st MidAmerica Credit Union?
To become a member of 1st MidAmerica Credit Union, you must live, work, worship, or attend school in one of the following counties: Cook, DuPage, Kane, Lake, McHenry, or Will in Illinois; Kenosha or Racine in Wisconsin; or Scott in Iowa. You can also join if you are a family member of an existing member.
Question 4: What are the fees associated with membership in 1st MidAmerica Credit Union?
There is a one-time $5 membership fee to join 1st MidAmerica Credit Union. There are also some fees associated with certain financial products and services, such as overdraft fees and ATM fees. However, 1st MidAmerica Credit Union's fees are generally lower than those charged by banks.
Question 5: How do I contact 1st MidAmerica Credit Union?
You can contact 1st MidAmerica Credit Union by phone at 1-800-897-9777, by email at info@1stmidamerica.org, or by visiting any 1st MidAmerica Credit Union branch.
Question 6: What are the hours of operation for 1st MidAmerica Credit Union branches?
1st MidAmerica Credit Union branches are typically open Monday through Friday from 9:00am to 5:00pm, and on Saturday from 9:00am to 1:00pm. However, some branches may have different hours, so it is best to call your local branch to confirm.
These are just a few of the frequently asked questions about 1st MidAmerica Credit Union. For more information, please visit the 1st MidAmerica Credit Union website or contact a 1st MidAmerica Credit Union representative.
1st MidAmerica Credit Union is a valuable resource for its members, and it is committed to providing its members with the best possible financial products and services.
Tips by "1st Midamerica Credit Union"
1st MidAmerica Credit Union is a not-for-profit financial cooperative with over 800,000 members and $15 billion in assets. It is the third largest credit union in the United States, and it offers a wide range of financial products and services to its members.
Here are a few tips from 1st MidAmerica Credit Union to help you manage your finances:
Tip 1: Create a budget. A budget is a plan for how you will spend your money each month. It can help you track your income and expenses, and make sure that you are not spending more money than you earn. To create a budget, simply list all of your income and expenses for a month. Once you have a good understanding of your spending habits, you can start to make changes to reduce your expenses and save more money.
Tip 2: Save money regularly. One of the best ways to reach your financial goals is to save money regularly. Even if you can only save a small amount each month, it will add up over time. There are many different ways to save money, such as setting up a savings account, contributing to a retirement plan, or investing in a CD. 1st MidAmerica Credit Union offers a variety of savings accounts and investment products to help you reach your savings goals.
Tip 3: Use credit wisely. Credit can be a helpful tool, but it is important to use it wisely. If you do not pay your credit card bills on time, you will end up paying high interest rates and damaging your credit score. To avoid these problems, only use credit when you need it, and always pay your bills on time.
Tip 4: Protect your identity. Identity theft is a serious crime that can have devastating financial consequences. To protect your identity, be careful about the information you share online and offline. Never give your personal information to someone you do not know, and be sure to shred any documents that contain your personal information before you throw them away.
Tip 5: Take advantage of financial education resources. 1st MidAmerica Credit Union offers a variety of financial education resources to help its members manage their money. These resources include online articles, videos, and workshops. Taking advantage of these resources can help you improve your financial literacy and make informed financial decisions.
Following these tips can help you improve your financial well-being and reach your financial goals.
1st MidAmerica Credit Union is a valuable resource for its members, and it is committed to providing its members with the best possible financial products and services.
1st MidAmerica Credit Union
1st MidAmerica Credit Union is committed to providing its members with the best possible financial products and services. The credit union offers a wide range of financial products and services, including checking and savings accounts, loans, mortgages, and investments. 1st MidAmerica also provides financial education and counseling services to its members, and it is committed to giving back to the communities it serves. As a not-for-profit financial cooperative, 1st MidAmerica is owned by its members, and its profits are returned to its members in the form of lower interest rates on loans and higher interest rates on savings accounts.
1st MidAmerica Credit Union is a valuable resource for its members. The credit union is committed to providing its members with the best possible financial products and services, and it is always looking for ways to improve its offerings. 1st MidAmerica is a strong advocate for the credit union movement, and it is committed to helping its members achieve their financial goals.
