Question 1

What is Members 1st Credit Union (MO)?

Accepted Answer

Members 1st Credit Union (MO) is a community-focused, state-chartered credit union serving members in the greater St. Louis metropolitan area. With approximately $71.6 million in total assets and over 4,200 members, this credit union operates as a member-owned, not-for-profit financial cooperative. Founded on the principle that members share in the credit union's net profits through dividends on their savings, Members 1st Credit Union provides personalized financial services to residents of St. Louis County and Jefferson County in Missouri.

Question 2

When was Members 1st Credit Union (MO) founded?

Accepted Answer

Members 1st Credit Union was chartered in 1951 as a member-owned financial cooperative. The credit union was established with staff and management committed to serving members' financial needs through a cooperative structure. Over more than seven decades, the credit union has evolved from its original purpose to serve a broader community base while maintaining its founding principles of promoting thrift, providing fair credit access, and operating in the spirit of cooperation rather than profit.

Question 3

Where is Members 1st Credit Union (MO) headquartered?

Accepted Answer

Members 1st Credit Union is headquartered at 4702 Mattis Road in Saint Louis, Missouri 63128. The credit union operates from this location to serve the surrounding communities in the St. Louis metropolitan area.

Question 4

Where does Members 1st Credit Union (MO) operate?

Accepted Answer

Members 1st Credit Union primarily serves residents and workers in St. Louis County and Jefferson County, Missouri. As a state-chartered natural person credit union, membership is available to individuals who live or work in these defined geographic areas. The credit union has a potential membership base of over 2 million individuals within its field of membership, though it currently serves approximately 4,200 active members.

Question 5

What services does Members 1st Credit Union (MO) offer?

Accepted Answer

Members 1st Credit Union offers a comprehensive range of financial products and services designed to meet members' everyday banking needs:

Deposit Accounts: Share savings accounts, checking accounts, money market accounts, and certificate accounts for building savings and managing daily finances.

Lending Products: Auto loans, personal loans, home equity loans, and mortgage products with competitive rates. The credit union maintains a healthy loan-to-share ratio of approximately 69.6%, indicating balanced lending practices.

Digital Banking Services: Online banking platform, mobile banking app with mobile check deposit, bill pay services, eStatements, account alerts and notifications, and 24/7 telephone banking access.

Additional Services: Access to over 30,000 surcharge-free ATMs through the CO-OP network, debit and credit card services with mobile wallet compatibility (Apple Pay, Google Pay, Samsung Pay), card controls for enhanced security, and FICO score monitoring.

The credit union employs 15 full-time staff members dedicated to providing personalized service to its membership.

Question 6

What makes Members 1st Credit Union (MO) unique?

Accepted Answer

Members 1st Credit Union distinguishes itself through several key characteristics:

Strong Financial Performance: The credit union maintains a robust net worth ratio of 9.73% and demonstrates healthy growth with a 6.6% increase in total assets over the past year. The return on average assets of 1.05% reflects efficient operations and sound financial management.

Community Focus: As a not-for-profit cooperative, Members 1st Credit Union returns profits to members through competitive dividend rates on savings and favorable loan rates rather than maximizing shareholder profits.

Personalized Service: With a relatively small membership base, the credit union emphasizes personal relationships and individualized attention. Members frequently cite the friendly, personalized service and "small town vibe" where staff know customers by name.

Accessibility: The credit union provides extensive digital banking capabilities while maintaining a physical presence for members who prefer in-person interactions, offering the best of both traditional and modern banking approaches.

Question 7

What type of financial institution is Members 1st Credit Union (MO)?

Accepted Answer

Members 1st Credit Union is a State Credit Union, chartered under Missouri state law and regulated by both the Missouri Division of Credit Unions and the National Credit Union Administration (NCUA). As a state-chartered natural person credit union, it operates under the cooperative principles that define credit union structure.

Unlike traditional banks, Members 1st Credit Union operates as a member-owned financial cooperative where each member has equal voting rights regardless of account balance. Membership is based on a common bond—in this case, living or working in St. Louis County or Jefferson County, Missouri.

All member deposits are federally insured up to $250,000 by the National Credit Union Share Insurance Fund (NCUSIF), which is backed by the full faith and credit of the United States government. The credit union is classified as "Well Capitalized" by regulatory standards, indicating strong financial health and stability.

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