1st MidAmerica Credit Union

What 1st MidAmerica Credit Union does

1st MidAmerica Credit Union is a member-owned financial cooperative headquartered in Bethalto, Illinois, operating since 1934 across more than 20 Illinois and Missouri communities. It serves individual consumers, small businesses, and employer groups through a full-service retail banking platform that includes savings and checking accounts (including reward-checking products paying up to 5.00% APY or 3.00% cash back), vehicle, home, home-equity, personal, rapid, and business loans, and a three-tier Visa credit card portfolio (Basic, Platinum Reward, Signature). Distribution spans 11 physical branches, Interactive Teller Machines, ATMs at Casey's General Store locations, a Go Live video banking channel, and CO-OP Shared Branching access to over 30,000 surcharge-free ATMs and 5,500+ 7-Eleven locations nationwide.

The technology stack is conventional credit-union banking infrastructure rather than proprietary fintech: online and mobile banking apps on iOS and Android, the 1st MidAmerica Cards App for card controls, mobile check deposit, mobile wallet support (Apple Pay, Google Pay, Samsung Pay), a TransUnion-powered Credit Score monitoring tool, a Money Management budgeting feature, and IDCheck multi-factor authentication for shared-branch fraud prevention. Digital marketing leverages Google Analytics, AdWords remarketing, blog content across financial-education topics, and active social media presence.

The business model is a classic cooperative banking model: primary revenue comes from net interest income on the spread between loan yields and deposit rates, supplemented by account/transaction fees, Visa interchange on credit card spend, and loan origination and servicing fees. Earnings are returned to members through lower loan rates, higher deposit rates, and reduced fees rather than distributed to external shareholders. Go-to-market combines a direct-to-consumer branch and digital retail channel with a community-led engagement program (CU in the Community) and a B2B employer Business Partner Program targeting local school districts, small businesses, large employers, and nonprofits with financial wellness benefits.

Name

1st MidAmerica Credit Union

Legal name

1st MidAmerica Credit Union

Website

https://1stmidamerica.org

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

101–250 employees

Short description

1st MidAmerica Credit Union is a member-owned cooperative bank founded in 1934, serving consumers, small businesses, and employer groups across Illinois and Missouri through 11 branches, digital and video banking, and CO-OP shared branching nationwide.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Card Issuing (522210)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Balance Transfer & Credit Card Refinance Loans (FSAKAIAA)

Keywords

• Retail banking services
• Consumer lending
• Savings accounts
• Credit union services
• Digital banking

Headquarters

HQ city

Bethalto

HQ country

United States

HQ region

North America

Offices18 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Net Interest Income: Primary revenue stream from the spread between interest earned on loans (auto loans, home loans, credit cards, personal loans, business loans) and interest paid on deposits (savings, checking, certificates, IRAs). As a credit union, earnings are returned to members through better rates.
2. Account and Transaction Fees: Revenue from various account service fees including ATM fees, overdraft fees, wire transfer fees, and other account service charges. Some accounts offer free services while others have associated fees.
3. Credit Card Interchange: Revenue generated from credit card transactions through Visa partnership, including interchange fees on purchases made with 1st MidAmerica Visa credit cards (Basic, Platinum Reward, Visa Signature).
4. Loan Origination and Servicing: Fees from originating and servicing various loan products including vehicle loans, home loans, home equity loans, personal loans, business loans, and credit cards.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

1st MidAmerica Credit Union is a member-owned financial cooperative that provides consumer and small-business banking products, including savings, checking, certificates, IRAs, vehicle loans, home loans, home equity loans, personal loans, business loans, and a three-tier Visa credit card portfolio. Members access these products through a multi-channel network of 11 physical branches, ITMs, CO-OP shared branching (28,000+ surcharge-free ATMs), online banking, mobile apps, and Go Live video banking, supported by free credit score monitoring and member financial education resources.

Product overview

1st MidAmerica Credit Union offers a comprehensive suite of financial products and services as a member-owned credit union cooperative. The core offerings include savings products (Basic Savings, Christmas Club, Certificates, Money Market, Youth Savings with Kirby Kangaroo Club, and IRAs), checking accounts (Reward Checking with High Interest and Cash Back options), and loan products (Vehicle Loans, Home Loans, Home Equity Loans, Personal Loans, Rapid Loans, and Business Loans). The credit card portfolio includes Visa Basic, Platinum Reward, and Signature tiers. Digital banking is delivered through Online Banking, Mobile Banking App, Go Live Video Banking, and Mobile Check Deposit. Additional services include Credit Score monitoring, Mobile Payments (Apple Pay, Google Pay, Samsung Pay), Insurance Options, Retirement Services, Trust and Will planning, Interactive Teller Machines, and Shared Branching through the CO-OP network. The product architecture operates as a unified credit union platform with integrated digital banking services, complemented by physical branch and ATM infrastructure.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts Core deposit products offered to credit union members, including Basic Savings, Christmas Club, Money Market, and IRA accounts, insured up to $500,000 per member through NCUA plus ESI supplemental coverage.
• Youth Savings / Kirby Kangaroo Club Savings accounts and youth club for members 17 years and younger, featuring the Kirby Kangaroo Club for financial education and savings habit development.
• Reward Checking Rewards-based checking accounts including High Interest Reward Checking earning up to 5.00% APY on balances up to $10,000 and Cash Back Reward Checking earning 3.00% cash back on debit card purchases.
• Vehicle Loans Auto loans for cars, trucks, and SUVs with rates as low as 4.74% APR, plus boat and RV loans with promotional rates as low as 5.99% APR.
• Home Loans Mortgage and home financing products for purchasing, building, or upgrading homes, including conventional and FHA loan options.
• Home Equity Loans Home equity lines of credit and loans allowing members to borrow against their home's equity for improvements, debt consolidation, or other expenses.
• Visa Credit Cards Three-tier Visa credit card portfolio: Visa Basic (8.9% APR fixed), Visa Platinum Reward (9.9-13.9% APR with 1 point per dollar rewards), and Visa Signature (9.9% APR with 1.25 points per dollar and travel/lifestyle benefits); all with no annual fee.
• Personal Loans Unsecured personal loans for various purposes including debt consolidation, major purchases, and unexpected expenses.
• Rapid Loan Quick-approval personal loan product for expedited borrowing needs.
• Business Loans Commercial lending products including business loans and business checking with cash management services for small business owners.
• Online Banking Web-based banking platform enabling members to access accounts, transfer funds, pay bills, view statements, and manage finances online with full bill pay functionality.
• Mobile Banking App Native mobile applications for iOS and Android devices providing mobile check deposit, bill pay, account access, and card management features.
• Go Live Video Banking Video banking service allowing members to connect face-to-face with credit union representatives through live video chat for appointments and account services.
• Credit Score Monitoring Free credit monitoring and scoring tool partnered with Transunion, providing daily credit score access, real-time alerts, credit reports, and educational resources.
• Mobile Payments Mobile wallet integration supporting Apple Pay, Google Pay, and Samsung Pay for contactless in-store and in-app payments.
• Interactive Teller Machines (ITMs) Video-enabled teller machines at branch locations providing live teller assistance via video screen for cash withdrawals, deposits, check cashing, and loan transactions.
• Shared Branching CO-OP Shared Branch network membership allowing members to access accounts at over 30,000 surcharge-free ATMs and participating credit union branches nationwide.
• Insurance Options Partnership with insurance providers to offer members auto and home insurance quote comparison services.
• Retirement Services Retirement planning services including Traditional IRAs, Roth IRAs, Coverdell accounts, and the Retirement Simplified program for financial planning assistance.
• Trust and Will Estate planning assistance helping members with trust and will document preparation for end-of-life planning.

Quantifiable outcome

• Members saved over $40 million since 2016 through the Savings Tracker program
• +3 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature6 records

Partnerships

Eleven partnerships are on record, tiered major, core and minor.

• MadCo Credit UnionmajorStrategic or Co-development Partner · 1 August 2017MadCo Credit Union merged into 1st MidAmerica in August 2017, expanding the credit union's membership and service area.
• CO-OP Shared Branch NetworkcoreTechnology or Integration1st MidAmerica is a member of the CO-OP Shared Branch network, which allows members to access their accounts and conduct business at participating credit union locations nationwide. The partnership provides access to over 30,000 surcharge-free ATMs located at CO-OP credit union branches, select standalone locations, and 5,500+ 7-Eleven locations. CO-OP also provides the IDCheck multi-factor authentication verification system for shared branch fraud prevention.
• Credit Score (Transunion)coreTechnology or IntegrationPartnership to offer credit score monitoring tool integrated into online and mobile banking. Provides members with daily credit score access, real-time credit monitoring alerts, credit score simulator, personalized credit report, and special credit offers. Updated every seven days.
• DreamPointscoreTechnology or IntegrationRewards redemption platform for credit card rewards. Members can redeem points for cash back, gift cards, travel, merchandise, tickets, and experiences through the DreamPoints rewards website or by calling 1-866-223-3161.
• VisacoreTechnology or IntegrationCredit card partnership providing Visa Basic Credit Card, Visa Platinum Reward Credit Card, and Visa Signature Credit Card products. Visa provides the payment network infrastructure, card benefits, concierge services, and travel/lifestyle benefits for premium cards.
• Google AdWordsminorGTM or Marketing PartnerGoogle advertising platform used for remarketing services to advertise on third-party websites to previous website visitors based on cookies.
• Apple App StorecoreTechnology or IntegrationDistribution channel for 1st MidAmerica Cards App and mobile banking application on iOS devices.
• Google Play StorecoreTechnology or IntegrationDistribution channel for 1st MidAmerica Cards App and mobile banking application on Android devices.
• Insurance PartnersminorChannel Partner/ Reseller/ DistributorInsurance partners providing auto and home insurance options that 1st MidAmerica can refer members to for coverage.
• Community OrganizationscoreStrategic or Co-development PartnerPartnerships with local community organizations including Habitat for Humanity, Rotary Club, United Way, Relay for Life, Salvation Army, March of Dimes, Public Libraries, Boys and Girls Clubs, Crisis Food Center, RiverBend Head Start, St. Anthony's Hospital, Catholic Children's Home, Veterans of Foreign Wars, Senior Services Plus, American Diabetes Association, Boy Scouts of America, American Heart Association, Community Hope Center, American Red Cross, Special Olympics, Autism Speaks, YWCA/YMCA, Girl Scouts, and many more for charitable giving, sponsorships, and community support programs.
• 7-ElevencoreChannel Partner/ Reseller/ DistributorCO-OP ATM network partnership providing surcharge-free ATM access at 5,500+ participating 7-Eleven locations nationwide.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/1stMidAmerica
• Facebookfacebook.com/1stMidAmerica
• Instagraminstagram.com/1stmidamerica
• Pinterestpinterest.com/1stmidamericacu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about 1st MidAmerica Credit Union