Credit Union 101
Illinois’s credit unions are dedicated to making sure that people have a stable financial footing to weather life’s emergencies.
With a not-for-profit member-owned structure, we work hard to find solutions that meet our members where they are. After all, we serve them, not Wall Street investors. For over a century, Illinois's credit unions have made a difference in underserved communities across the state by providing critical financial services to people banks overlook. Nearly 50% of credit unions have a specific focus on serving low-income communities—providing affordable interest loans, higher savings yields, and lower fees.
CREDIT UNIONS HELP WITH:
- Surprise medical billing support
- Stopgap funding when facing a job loss
- Relief funds after a hurricane, fire, or tornado
- Personalized debt consolidation support
- Adoption and fertility treatment loans
- Low-hurdle loans to help survivors of domestic violence make a fresh start
- Emergency auto repair
- Small business loans and much more
Community Leaders Support Credit Unions
Illinois House Speaker Chris Welch discussed how credit unions help underserved communities in his state. Access to credit shouldn’t be an opportunity to prey on people. Credit unions are proud to be there when people need us most. See where financial institutions are located in your district and talk with your local credit union association to see how legislative adjustments can help serve more people.
Key Credit Union Statistics
1 Million
5,347
120 Million
$248
$13 Billion
$223 Billion
