Who We Are
Our credit union ends with U and begins with You.
There’s a good chance you weren’t around back then, but on January 27, 1939, Motorola Employees Credit Union (MECU) was born. To be precise, it was organized as a financial cooperative and chartered that day under the laws of the State of Illinois. And on that day, each of the 10 incorporators deposited $5 each to start the credit union — and with that humble $50 in collective capital, it was off to the races.
By the end of that same year, 474 individuals had joined the credit union as founding members — amassing $14,765 in total assets. Our credit union, one of 657 new Illinois credit unions chartered that year, offered its members a regular share (savings) account, and opportunities to borrow money at attractive rates.
As the saying goes, with age comes wisdom. And well, let’s just say that after 70-plus years, we’ve learned a thing or two about the profession we practice, and the people we serve.
Today, MECU offers tremendous financial strength and security — with nearly $900 million in assets and over $74 million in capital, reflecting a net worth of more than 8% of assets. Today, we proudly serve the diverse financial needs of nearly 40,000 members across the country.
We offer an impressive variety of financial products and services that are truly competitive with banks anywhere — including the latest technological conveniences that make managing your money exceptionally easy.
From our humble beginnings, we’ve always understood that the business of banking isn’t so much balancing numbers, as it as building relationships.
We refer to our customers as members. But we never forget they’re people first. That’s a philosophy we strive to embrace every day, in everything we do.
Is MECU right for you?
So why a credit union and not a bank?