Citizens Equity First Credit Union

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Citizens Equity First Credit Union
Type Credit union
Founded 1937
Headquarters Peoria, Illinois, USA
No. of locations 19 Member Centers (2008)
Area served Illinois
Key people Nancy Medendorp (Chairman)
Mark A. Spenny (President)
Sandra K. Andrews (COO)
Industry Financial services
Services Savings; Checking; Consumer Loans; Mortgages; Credit cards; Investments
Net income US$25,843,000 (2007) ▲ US$1,567,000[1]
Employees 696 full-time; 40 part-time[2]
Subsidiaries CEFCU Financial Services[2]
Website http://www.cefcu.com/

Citizens Equity First Credit Union (usually called CEFCU) is a credit union based in Peoria, Illinois.

CEFCU was founded in 1937 to serve the employees of Caterpillar Tractor Company. It began as Caterpillar Employees Credit Union (CECU) with a state credit union charter, then switched to a federal credit union charter and the name CEFCU (Caterpillar Employees Federal Credit Union). Upon legally separating from Caterpillar, CEFCU changed its acronym to more accurately reflect membership eligibility; first, to "Construction Equipment Federal Credit Union" and, later, to "Citizens Equity Federal Credit Union."

CEFCU returned to an Illinois state credit union charter in 2000, keeping the acronym CEFCU.[3] CEFCU membership criteria allow employees of Caterpillar Inc. and Caterpillar dealers, "select employee groups" (those working for about 550 specific companies with a CEFCU relationship), plus individuals living or working in fourteen central Illinois counties to belong to the credit union.[4]

Individuals living or working in the following Illinois counties are eligible for CEFCU membership: Fulton, Knox, Livingston, Logan, McLean, Macon, Marshall, Mason, Peoria, Putnam, Sangamon, Stark, Tazewell, and Woodford.

[edit] References

  1. ^ Citizens Equity First Credit Union (2008-05-01). 2007 Annual Report. Retrieved on 2008-05-23.
  2. ^ a b NCUA Form 5300 (Statement of Financial Condition). National Credit Union Administration (December 2007). Retrieved on 2008-05-23.
  3. ^ Citizens Equity First Credit Union (2001-04-27). 2000 Annual Report. Retrieved on 2007-09-28.
  4. ^ CEFCU's History. Citizens Equity First Credit Union. Retrieved on 2007-09-21.


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