United Federal Credit Union (UFCU) is an American federally chartered

credit union A credit union, a type of financial institution similar to a commercial bank, is a member-owned nonprofit organization, nonprofit financial cooperative. Credit unions generally provide services to members similar to retail banks, including depo ...

based in St. Joseph, Michigan. Originally chartered in 1949, UFCU has more than 186,000 Members in all 50 states and the District of Columbia. The credit union assets in excess of $3.8 billion as of December 2022. United has 35 branches in six states:

Michigan Michigan () is a state in the Great Lakes region of the upper Midwestern United States. With a population of nearly 10.12 million and an area of nearly , Michigan is the 10th-largest state by population, the 11th-largest by area, and the ...

Ohio Ohio () is a state in the Midwestern region of the United States. Of the fifty U.S. states, it is the 34th-largest by area, and with a population of nearly 11.8 million, is the seventh-most populous and tenth-most densely populated. The sta ...

Indiana Indiana () is a U.S. state in the Midwestern United States. It is the 38th-largest by area and the 17th-most populous of the 50 States. Its capital and largest city is Indianapolis. Indiana was admitted to the United States as the 19th s ...

Nevada Nevada ( ; ) is a U.S. state, state in the Western United States, Western region of the United States. It is bordered by Oregon to the northwest, Idaho to the northeast, California to the west, Arizona to the southeast, and Utah to the east. N ...

North Carolina North Carolina () is a state in the Southeastern region of the United States. The state is the 28th largest and 9th-most populous of the United States. It is bordered by Virginia to the north, the Atlantic Ocean to the east, Georgia and So ...

, and

Arkansas Arkansas ( ) is a landlocked state in the South Central United States. It is bordered by Missouri to the north, Tennessee and Mississippi to the east, Louisiana to the south, and Texas and Oklahoma to the west. Its name is from the Osage ...

. United Federal Credit Union offers a diverse array of products and services for businesses and individuals, include checking and savings accounts; auto loans, RV and boat loans, credit cards; mortgage, construction, and lot loans; home equity loans, and lines of credit; business accounts, loans, and credit cards.

History

United Federal Credit Union’s origins date to the 1930s and 1940s, when the Nineteen Hundred Employee Credit Union (NHECU), and the Buchanan Clark Employee Credit Union (BCECU), were originally formed to serve the employees of the companies that would ultimately become the

Whirlpool Corporation The Whirlpool Corporation is an American multinational manufacturer and marketer of home appliances, headquartered in Benton Charter Township, Michigan, United States. The Fortune 500 company has annual revenue of approximately $21 billion, ...

and the

Clark Equipment Company Clark Equipment Company was an American designer, manufacturer, and seller of industrial and construction machinery and equipment. History Clark's predecessor was the George R. Rich Manufacturing Company, founded in 1903 in Chicago, Illinoi ...

. NHECU formed in 1949 with eight employees and volunteers who handled the transactions. Nineteen Hundred Corporation became Whirlpool Corporation in 1950, and the credit union became Whirlpool Employee Federal Credit Union (WEFCU). By 1955, WEFCU’s assets reached $1 million. By 1958, assets doubled to $2 million. Assets more than doubled again over the next five years, and in 1963, WEFCU moved into a brand new building in St. Joseph, MI. In 1969, BCECU became Clark Credit Union, and a short time later, Clark Federal Credit Union. Growth continued for WEFCU between 1963 and 1978, requiring the credit union to relocate to 2900 South State Street in downtown St. Joseph. Assets exceeded $30 million, with 15,800 members and 27 employees. Beginning in 1980, WEFCU merged with credit unions serving Whirlpool subsidiaries in

Marion, OH Marion is a city in and the county seat of Marion County, Ohio, United States. The municipality is located in north-central Ohio, approximately north of Columbus. The population was 35,999 at the 2020 census, slightly down from 36,837 at the 2 ...

and Fort Smith, AR. In 1987, CFCU reached $50 million in assets and changed their name to United Federal Credit Union (UFCU) while WEFCU because Whirlpool Community Federal Credit Union (WCFCU). Then in 1992, WCFCU changed again to the First Resource Federal Credit Union (FRFCU). During the 1990s, both FRFCU and UFCU broke ground on new corporate headquarters buildings, located in St. Joseph, MI, and Buchanan, MI, respectively. New branches opened in

Holland, MI Holland is a city in the West Michigan, western region of the Lower Peninsula of Michigan, Lower Peninsula of the U.S. state of Michigan. It is situated near the eastern shore of Lake Michigan on Lake Macatawa, which is fed by the Macatawa River ...

in 2000, and in 2006, FRFCU merged with UFCU. All locations adopted the UFCU name, but the headquarters remained in St. Joseph and retained the FRFCU charter number. In 2009, growth continued with the acquisition of Clearstar Financial Credit Union in

Reno, NV Reno ( ) is a city in the northwest section of the U.S. state of Nevada, along the Nevada-California border, about north from Lake Tahoe, known as "The Biggest Little City in the World". Known for its casino and tourism industry, Reno is the ...

. In 2011, UFCU purchased Griffith Savings Bank in

Griffith, IN Griffith is a town in the Calumet Township, Lake County, Indiana, Calumet and St. John Township, Lake County, Indiana, St. John townships in Lake County, Indiana, Lake County, Indiana, United States. It is a part of the Chicago metropolitan area. ...

, marking the first time a bank had been purchased by a federally chartered credit union. As of 2012, assets reached $1.5 billion with plans in progress for an expanded corporate headquarters. In October 2015

Lake Michigan Credit Union Lake Michigan Credit Union (LMCU), founded in 1933, is a credit union based in Grand Rapids, Michigan. As of 2019, Lake Michigan Credit Union has 53 locations throughout the states of Michigan and Florida. Lake Michigan is currently the largest cre ...

and United Federal Credit Union announced their intent to merge. The merger did not occur. United move
corporate headquarters
in December 2020 with the completion of a renovation project at 150 Hilltop Road in St. Joseph, Michigan which was a former Whirlpool Corporation corporate building. Two mergers occurred in 2021 when United acquired a branch in Springdale, Arkansas fro
Truity Credit Union in February
and completed its acquisition o
Edgewater Bank
in St. Joseph, Michigan in April.

Timeline

Products and services

United Federal Credit Union provides products and services to individuals and businesses. For Individual Members, there are checking accounts, long or short-term savings options including IRAs or HSAs; mortgage, auto, and equity loans; lines of credit for debt consolidation; and investment planning options. UFCU also offers a Member Assistance Program to help Members work through debt concerns. UFCU also offers Business Members access to loans, checking accounts, and cash management options, as well as payroll management and merchant services.

References

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History

Timeline

Products and services

References

External links