Credit Union 1 is a credit union based in Rantoul, Illinois. Its service area spans the Chicago metropolitan area, the northern and central regions of Illinois, the

Indianapolis Indianapolis (), colloquially known as Indy, is the state capital and most populous city of the U.S. state of Indiana and the seat of Marion County. According to the U.S. Census Bureau, the consolidated population of Indianapolis and Marion ...

metropolitan area, and the Las Vegas metropolitan area.Lucht, Nicole

''The Las Vegas Sun'' 23 Oct. 2009. CU1 serves approximately 89,000 members throughout Illinois, Indiana and Nevada. This credit union is federally insured by the National Credit Union Administration (NCUA).

History

Credit Union 1 was established as Chanute Military Credit Union in 1958. The original field of membership was personnel and dependents of

Chanute Air Force Base Chanute Air Force Base is a decommissioned United States Air Force facility, located in Champaign County, Illinois, south of and adjacent to Rantoul, Illinois, about south of Chicago. Its primary mission throughout its existence was Air Force t ...

. In 1978 it was announced that Chanute Air Force Base was a candidate for closure. After the decision was made in March of 1979 to retain Chanute Air Force Base as a viable military technical training center, plans were developed to insulate the credit union from actions of this type in the future. As a result, the credit union made concentrated efforts in 1979 to further develop another segment of potential members, and a merger took place with Fort Sheridan Federal Credit Union. This merger expanded Credit Union 1’s field of membership to the

Military Reserve A military reserve, active reserve, reserve formation, or simply reserve, is a group of military personnel or units that is initially not committed to a battle by its commander, so that it remains available to address unforeseen situations or ex ...

and National Guard Units in Illinois. The next expansion CU1 experienced was changing the field of membership from “occupational” to “associational”. This meant CU1’s field of membership was no longer restricted to military affiliation. Since then, Credit Union 1 has continued to grow and progress through mergers and acquisitions, as well as growing “Select Employee Groups” (SEGs). CU1 is highly regarded in the credit union community and has been a solid merger partner for several credit unions, consolidating to make a more dynamic credit union. The progression also added diversity and opportunity in new markets. The primary SEGs include all State of Illinois employees, all Cook County employees, students and faculty of University of Illinois at Chicago, UI Health, students and faculty of

Eastern Illinois University Eastern Illinois University is a public university in Charleston, Illinois. Established in 1895 as the Eastern Illinois State Normal School, a teacher's college offering a two-year degree, Eastern Illinois University gradually expanded into a co ...

, Navistar, Tribune Companies, AON Corporation, Elmhurst Memorial Hospital employees, Alzheimer’s Association, Hyatt Hotels and a number of other companies and organizations. Credit Union1 has also bought naming rights for the former Hollywood Casino Amphitheater, now known as the Credit Union 1 Amphitheater, in Tinley Park, Illinois

References

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External links

Credit Union 1 Official website
Companies based in Champaign County, Illinois Credit unions based in Illinois Credit unions based in Indiana Credit unions based in Nevada Lombard, Illinois Organizations established in 1949 Organizations established in 1958 Organizations established in 1965 Rantoul, Illinois 1958 establishments in Illinois