Question 1

What is Des Moines Metro Credit Union?

Accepted Answer

Des Moines Metro Credit Union is a state-chartered community credit union headquartered in Des Moines, Iowa. With approximately $75 million in assets and over 7,100 members, the credit union serves residents and workers in Polk County and surrounding counties.

Founded to serve city employees, the institution has evolved into a community-focused credit union recognized nationally for its inclusive approach to financial services, particularly its pioneering work with immigrant and underserved communities. Nearly 80% of the credit union's staff speaks Spanish, making it a leader in bilingual financial services in Iowa.

Question 2

When was Des Moines Metro Credit Union founded?

Accepted Answer

Des Moines Metro Credit Union was established in 1938 to serve employees of the City of Des Moines. For nearly six decades, the credit union operated as an employee-based institution, gradually expanding to include other large and small employer groups such as UnityPoint Health, Des Moines Area Regional Transit (DART), and Warren County.

In 1997, the credit union underwent a significant transformation by converting to a community charter. This strategic shift allowed the institution to serve anyone who lives or works in Polk County and surrounding counties, dramatically expanding its potential membership base from a few thousand to over 885,000 residents.

Question 3

Where is Des Moines Metro Credit Union headquartered?

Accepted Answer

Des Moines Metro Credit Union is headquartered at 100 University Avenue in Des Moines, Iowa. The location is strategically positioned near 2nd Avenue and University, an area characterized by diverse neighborhoods, two hospitals, various businesses, and an active downtown district.

Question 4

Where does Des Moines Metro Credit Union operate?

Accepted Answer

Des Moines Metro Credit Union operates primarily in Polk County and surrounding counties in central Iowa. The credit union's single branch location at 100 University Avenue serves members from across the Des Moines metropolitan area.

Following its conversion to a community charter in 1997, membership is available to anyone who lives, works, worships, or attends school in the credit union's service area, as well as their family members. The credit union also maintains its original employee-based membership for City of Des Moines staff and other select employer groups.

Question 5

What services does Des Moines Metro Credit Union offer?

Accepted Answer

Des Moines Metro Credit Union provides a comprehensive range of financial services including share savings accounts, checking accounts, auto loans, personal loans, and credit cards. The credit union specializes in new and used vehicle financing, offering pre-approvals and partnerships with numerous local dealerships including Aztec Motors, Bob Brown Chevrolet, and Toyota of Des Moines.

Digital banking services include online banking, mobile banking through their smartphone app, electronic statements, bill pay, and MyCard Info features. Members can access their accounts 24/7 through online and mobile platforms, enabling remote account management and deposits.

The credit union offers specialized loan products including ITIN-based lending for individuals without Social Security numbers. Their signature Credit Builder Program provides a structured, two-phase approach to help members establish and build credit, starting with a $500 loan and progressing to additional credit products.

Question 6

What makes Des Moines Metro Credit Union unique?

Accepted Answer

Des Moines Metro Credit Union distinguishes itself through its pioneering commitment to financial inclusion and immigrant communities. Approximately 32% of the credit union's members identify as Hispanic, compared to just 14% of Des Moines' overall population, demonstrating the institution's success in reaching underserved communities.

The credit union accepts Individual Taxpayer Identification Numbers (ITIN) for loan applications and account openings, allowing individuals without Social Security numbers to access traditional banking services. Members can also use matricula consular (Mexican consulate identification) or identification cards from their country of origin to open Safe Accounts, which are non-interest bearing accounts designed to provide banking access.

Nearly 80% of Des Moines Metro Credit Union's employees speak Spanish, with 10 out of 13 staff members providing bilingual services. This cultural and linguistic competency has earned the credit union recognition as a leader in diversity, equity, and inclusion in financial services.

The credit union's Credit Builder Program has graduated over 640 participants, 80% of whom are Hispanic. Many graduates have progressed from having no credit history to obtaining auto loans and even home mortgages. Beyond financial services, the credit union partners with organizations like the Evelyn K. Davis Center to offer financial education, sponsors the Iowa Latino Heritage Festival, and employees volunteer as translators for Des Moines Public Schools conferences.

Question 7

What type of financial institution is Des Moines Metro Credit Union?

Accepted Answer

Des Moines Metro Credit Union is a state-chartered credit union regulated by the Iowa Credit Union Division and the National Credit Union Administration (NCUA). As a state-chartered institution, it operates under Iowa Code Chapter 533 and is supervised by the Superintendent of Credit Unions.

The credit union operates as a not-for-profit financial cooperative owned by its members. Each member has equal voting rights regardless of account balance, and can vote for the Board of Directors or run for election themselves. Member deposits are federally insured up to $250,000 by the NCUA.

As a community credit union, membership is open to individuals who live, work, worship, or attend school in Polk County and surrounding counties, along with their family members. The cooperative structure means earnings are returned to members through better savings rates, lower loan rates, and enhanced services rather than distributed to outside shareholders.

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