The History of America's Credit Unions
MembersAlliance Credit Union is the largest locally owned credit union in the Rockford area, serving over 20,000 members. We’re focused on the idea of making things better, so we don’t stop with just providing the smart bank-alternative for the financially savvy customer…we’re proud of our region and our roots, and we’re invested in helping our community thrive.
History
Originally named Sundstrand Credit Union, we were founded in 1938 by a small group of Sundstrand employees looking to provide access to affordable banking and borrowing options for themselves and coworkers. From the very beginning, we have always been mission and purpose driven. We exist today to inspire financial wellness and have an empowering impact in our community.
In 1991, a few years after a merger of our original sponsor organization, along with the credit union continuing to add additional employee groups to our charter, we changed our name to MembersAlliance Credit Union to better reflect our Field of Membership. In 1997, the credit union applied for and received a community charter allowing us to serve anyone living or working in the Illinois counties of Winnebago, Boone and Ogle. MembersAlliance has been party to three mergers, welcoming W.A. Whitney Credit Union (1992), Oregon Community Credit Union (1998), and SwedishAmerican Federal Credit Union (2023) and their members into the MembersAlliance family.
While we continue to offer innovative products and services for our members’ banking and borrowing needs, we have made a concerted efforted to balance technology solutions with the personal service that has made such powerful impact on so many of our members financial lives. Along with traditional financial education courses for adults and youth in the classroom, we provide a full array of digital tools and resources through the Banzai platform. Over the last few years, we have also had 19 employees trained as Certified Financial Counselors. With more currently working towards certification and others planning to in the future, we are intent on providing sound personal financial guidance and support to both members and non-members alike, free of charge.
MembersAlliance Credit Union Image #1 - MembersAlliance Credit Union Alpine Rd Location
MembersAlliance Credit Union Image #2 - MembersAlliance Credit Union Olde Creek Location
MembersAlliance Credit Union Image #3 - MembersAlliance Credit Union Roscoe Location