Since our founding in 1957, Credit Union 1’s growth has always been with our members in mind. Expansion has meant not just a larger footprint for Credit Union 1, but also an expansion of access, enhanced technology, improved products and services, and a stronger presence in the communities we serve. In the last few years, Credit Union 1 has found ways to strategically grow through mutually beneficial mergers with other credit unions.
Credit union mergers are a way to bring like-minded organizations together in a way that benefits all members. Mergers are a common occurrence in the credit union industry—in 1990, there were nearly 13,000 credit unions nationwide. As of 2024, there are 4,455 federally insured credit unions, according to the NCUA. Mergers often make sense in a financial industry where competition is high and digital banking technology—that today’s members expect—can be costly to implement.
For Credit Union 1, each potential merger is an opportunity to learn from another credit union—which has its own unique strategies—and find a path forward that works best for all involved. Each partner over the past three years has helped CU1 integrate new technology or practices that have strengthened our core and improved both our internal processes and our members’ experience.
CU1’s merger strategy is not about speed or growth for growth’s sake. CU1 has always thrived due to the strength of our communities, both our internal community of team members and wider membership. To preserve these communities, we spend countless hours with potential merger partners, exploring the opportunities available. To be successful, cultures must align, and the benefit needs to be equal on both sides. We do our due diligence along the way, ensuring everyone is set up for success once the merger takes place.
Credit Union 1 has been recognized as a top workplace by USA Today and the Chicago Tribune, and team members from each merging credit union are welcomed into a vibrant, thriving culture. Benefits for team members include salary increases, annual bonuses, and profit sharing, as well as increased career opportunities and ongoing career development.
Credit Union 1 members and our partner credit union members gain many benefits through this growth, including a wider branch network, a wider array of products with more competitive rates, better banking technology, and an increased community presence. Credit Union 1 is also active in every community where our members live through our CU1 Cares initiative, and expanding our presence nationwide allows us to give back meaningfully to more causes.
You are leaving creditunion1.org and entering a website that Credit Union 1 does not control. Credit Union 1 has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of or the propriety of any information on this website. Do you want to proceed?
Yes No