Question 1

What is District One Credit Union?

Accepted Answer

District One Credit Union is a state-chartered, member-owned financial cooperative serving employees and retirees of the Missouri Department of Transportation (MoDOT) and Missouri State Highway Patrol in the northwest Missouri region. With approximately $30.4 million in assets and over 2,100 members, this community-focused credit union specializes in providing personalized financial services to highway workers and law enforcement personnel.

The credit union operates with a strong emphasis on member ownership and low fees, distinguishing itself from traditional banks through its cooperative structure.

Question 2

When was District One Credit Union founded?

Accepted Answer

District One Credit Union was founded in 1954, established to serve employees of the Missouri Department of Transportation's District One region. Like many occupational credit unions of that era, it was created to provide affordable financial services to workers who might otherwise have limited access to fair credit and savings opportunities.

For over seven decades, the credit union has maintained its focus on serving the highway maintenance and law enforcement communities in northwest Missouri.

Question 3

Where is District One Credit Union headquartered?

Accepted Answer

District One Credit Union is headquartered in Saint Joseph, Missouri, at 3011 N Belt Highway, Suite B. The credit union relocated to this location to provide improved access and convenience for members, including drive-up banking services that allow members to conduct transactions without leaving their vehicles.

Question 4

Where does District One Credit Union operate?

Accepted Answer

District One Credit Union primarily serves members in the Saint Joseph, Missouri area and the surrounding northwest Missouri region. Membership is available to employees and retirees of the Missouri Department of Transportation (MoDOT) and the Missouri State Highway Patrol, along with their immediate family members.

Once someone becomes a member, they retain membership for life, even if they leave their qualifying employment, as long as they maintain a minimum $25 balance in their share account. Family members of existing members can also join, extending the credit union's reach across generations.

Question 5

What services does District One Credit Union offer?

Accepted Answer

District One Credit Union provides a comprehensive range of financial products tailored to member needs:

Savings Products: Share (savings) accounts, Christmas Club accounts, Traditional IRA, Roth IRA, and Educational IRA accounts with competitive dividend rates.

Loan Products: Vehicle loans for new and used cars, boat and RV financing, home equity loans with variable rates tied to the prime rate, share-backed loans, household goods loans, signature loans, and flexible personal loans (Flexiloans).

Additional Services: Direct deposit services, notary services, drive-up banking, and personalized member service with dedicated loan officers and member service representatives.

The credit union emphasizes competitive loan rates and flexible payment schedules that can be customized to weekly, bi-weekly, semi-monthly, monthly, or annual terms.

Question 6

What makes District One Credit Union unique?

Accepted Answer

District One Credit Union stands out through its dedication to serving Missouri's highway workers and state troopers, a specialized membership base that creates a strong sense of community. The credit union emphasizes its "not-for-profit" cooperative structure, where members are owners rather than customers, and any year-end profits belong to the membership.

The credit union prides itself on maintaining significantly lower fees compared to traditional banks. According to the credit union industry data they cite, credit unions saved members over $6 billion in fees compared to average bank fees, reflecting their commitment to being "not fee junkies."

With a strong net worth ratio of 17.91% (well above the U.S. average of 14.29%) and an exceptionally low Texas Ratio of 0.10%, District One Credit Union demonstrates financial stability and sound lending practices. The "once a member, always a member" policy ensures that employees who retire or change careers maintain their banking relationship.

Question 7

What type of financial institution is District One Credit Union?

Accepted Answer

District One Credit Union is a state-chartered credit union regulated by the Missouri Division of Credit Unions and insured by the National Credit Union Administration (NCUA). Member deposits are federally insured up to $250,000, with IRA accounts separately insured up to $250,000.

As a member-owned cooperative, the credit union operates under the fundamental principle that each member has one vote in electing board members, regardless of account balance. This democratic structure ensures that the institution serves member interests rather than outside shareholders.

Membership is restricted to employees and retirees of MoDOT and the Missouri State Highway Patrol, along with their family members, reflecting its occupational field of membership charter.

District One Credit Union

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About District One Credit Union in the United States