A Partnership with First Class Community and CU1

First Class Community CU wants to bring their members the best value as a primary financial institution and provide the necessary products and services to help you reach your financial goals. Credit Union 1 offers the technology and systems that address their members’ needs. Additionally, CU1’s strong core values give the First Class Community CU leadership team and board of directors confidence that their membership will experience a level of quality of service comparable to which you have known. Our credit unions are like-minded, and we strongly believe that a partnership will benefit members and employees of both institutions.

Credit Union 1 has more than sixty years of experience helping families and communities reach their economic potential. And we have our eye on the next sixty years, as we continue to evolve and innovate to find new ways to offer our members high-quality, low-cost financial products and services and a modern banking experience.

CU1 was founded in 1958 with an original base membership of personnel from Chanute Air Force Base in Rantoul, Illinois. We have since grown into a billion-dollar-plus financial institution, but our priorities remain the same—helping families and communities succeed financially.

To learn more about what drives us and our commitment to diversity and inclusion, visit our About Us page.

Our regulators, the National Credit Union Administration (NCUA), Illinois Department of Financial and Professional Regulation (IDFPR), and Iowa Division of Credit Unions (IDCU) have approved our merger plans. With member support of the merger through the voting process, we anticipate that our first legal day as a combined organization will be October 31.

A merger will provide the resources to better serve your financial needs through industry-leading technology, new products and services, and highly competitive rates. We want to be your first choice for a primary financial institution. Nothing will change until member approval is received. This partnership will mean we can better anticipate and meet all your financial needs. First Class Community members will now have access to:

• High Yield Checking
• High Yield Savings
• A Full Suite of Business Banking Options
• Broader Selection of Credit Cards
• Financial Wellbeing & Education
• Greater Investment into the Branch Communities
• And much more.

Your accounts will continue to be federally insured just as they are today through the National Credit Union Share Insurance Fund, which is backed by the full faith and credit of the U.S. Government and managed by the National Credit Union Administration (NCUA).

One reason our two credit unions are pursuing this merger is because we feel both credit unions are like-minded, and we strongly believe that a partnership will benefit members and employees of both institutions. Credit Union 1 strives to provide premium service and you will continue to receive personalized service as you do today.

First Class Community’s field of membership will be incorporated with Credit Union 1’s field of membership after the proposed system conversion date.

Yes, both First Class Community in the Des Moines area will remain open and join CU1's list of branch locations. Credit Union 1 has 37 branches in Illinois, Indiana, Nevada, Georgia, Florida, Michigan, Wisconsin, Minnesota and North Dakota. In addition to CU1’s branches, members will also have access to CU1’s robust Digital Banking platform, along with access to the CO-OP shared branch and surcharge-free ATM network and the surcharge-free Allpoint ATM network.

You can continue to use First Class Community’s branches. We cannot begin integrating the operations of the two credit unions until after the proposed system conversion date. First Class Community’s members will be notified as soon as the additional branches are connected.

Credit Union 1 ATMs are available for anyone to use; however, we cannot begin integrating the operations of the two credit unions until after the proposed system conversion date, so you may incur a fee until that time. Once the merger is effective, you will have access to all Credit Union 1 ATMs at no charge along with more than 130,000 surcharge-free ATMs nationwide.

Your account number will remain the same for the time being. More information will be provided after the proposed system conversion date.

Your routing number will remain the same for the time being. More information will be provided after the proposed system conversion date.

You will continue to use First Class Community’s online/mobile banking until the proposed system conversion date. Once the conversion of systems occurs, you will then use Credit Union 1’s Digital Banking platform and highly rated mobile app. Banking anytime, anywhere has never been simpler.

You will continue to use First Class Community’s debit card. First Class Community members will be issued a Credit Union 1 Visa® Debit Card to use once the conversion of systems occurs.

You will continue to use First Class Community’s account information until the proposed system conversion date. Once the conversion of systems occurs, you will need to notify each business of your new Credit Union 1 account number and Credit Union 1’s routing and transit number.

Until the proposed system conversion date, none of your account terms will change. Whether or not they will change after the proposed system conversion date depends on the type of account.

Loans | Your existing loan contract will remain in effect until the loan is paid off.

Share Certificates | The terms of your existing share certificate will remain in effect until the maturity date.

Savings & Checking | Rates and terms on these accounts are subject to change at the time of the merger date. You will receive a CU1 Membership Agreement and Account Disclosures before the merger date.

Credit Cards | Credit Union 1 offers an array of credit card options with competitive rates and exciting rewards. More information will be provided after the system conversion date.

Don’t hesitate to email firstclassinfo@gofirstclass.org or use the online contact form to contact First Class Community Credit Union.

All current First Class employees will have positions after the merger. Members can expect the same familiar team members and continued commitment to personalized service. As part of a larger organization, our staff will also benefit from expanded resources and growth opportunities, helping us better serve our membership for years to come.

Our postal heritage that founded the credit union will continue to be honored. CU1 has successfully merged with other postal employee credit unions in the past and understands the importance of preserving those values and traditions. Our founding story and long-time postal identity will remain part of who we are.

Continuing to listen to and represent our members remains a top priority. As part of the merger, current board members will have the option to serve on an advisory committee to communicate needs, ideas, and priorities of our members and communities to the combined organization. This structure will help ensure that insight and member feedback from current First Class members continue to play an important role moving forward.

No. This merger is the result of a strategic decision focused on the long-term future of our credit union and the members we serve. Our organization remains financially sound, and this partnership is intended to strengthen our ability to provide enhanced products, services, technology, and resources in an increasingly competitive financial environment. The financial services industry is rapidly evolving, and we believe this merger will better position our members and communities for continued success in the years ahead.