About Us


 What is a Credit Union?

Credit unions are non-for-profit financial cooperatives serving members who share something in common-employment, association membership, or residence in a particular geographic area. More than 120 million U.S. consumers are member-owners of, and receive all or part of their financial services from, the nation’s 5,396 credit unions.

Philosophy & Structure

Credit unions are democratically owned and controlled institutions based on ‘people helping people’ principles. Credit union boards of directors are elected by members; each member has an equal vote, regardless of how much he or she has on deposit. Only members may serve as directors, and directors serve without compensation. Credit unions have no outside stockholders, so after reserves are set aside, earnings are returned to members in the form of higher dividends in savings, lower loan rates and lower cost services.

Our History

Cooperative Choice Network Credit Union

On October 1, 2017, Members Choice Credit Union and Illinois Electric Cooperatives Federal Credit Union (IECFCU) joined creating the state of Illinois’s first network credit union, Cooperative Choice Network Credit Union (CCNCU). The founding of the network credit union is to allow credit unions to become a part of the network credit union and its products and services, all while maintaining its own identity as a division of the network credit union.

Today Cooperative Choice Network Credit Union serves over 11,600 members


MCCU Division History

CILCO Credit Union chartered in 1935 providing CILCO employees and families’ basic credit union services. In December 1999, CILCO Credit Union had grown to 4490 members with $51.5 million in assets. CILCO Credit Union had offices located in Peoria and Springfield.

Healthcare Family Credit Union began in 1955 as St. Francis Hospital Employees Credit Union providing basic credit union services to employees and families of OSF Saint Francis Hospital. In 1988, OSF St. Mary’s Hospital Employees Credit Union merged changing the name to Healthcare Family Credit Union. In December 1999, Healthcare Family CU had grown to 5407 members with $14.5 million in assets and offering many financial services to its membership. Healthcare Family CU had locations in Peoria and Galesburg.

Healthcare Family Credit Union merged with CILCO Credit Union on February 1, 2000. From this merger, Members Choice Credit Union was established with a goal to provide quality and person financial services to its members, at fair and competitive rates.


IECFCU Division History

The IEC Federal Credit Union was incorporated March 1970, by Mr. Thomas H. Moore, AIEC General Manager in order to provide an additional benefit and financial stability for Illinois Electric and 5 Telephone Cooperative employees, directors and family members. Later, the charter was amended to include subsidiaries of the cooperatives. The Association of Illinois Electric Cooperatives provided the day-today operations of the Credit Union until 1988 when the Credit Union Manager was hired. At that time, the Credit Union had grown to $3 million in assets and had over 2000 members.

Initially, the Credit Union provided share savings and loans to its members and then brought on additional services in order to provide the membership convenient access to their funds. The Credit Union continued to grow to $11.1 million in assets at the time the merger and offered numerous services along with various loan types and share savings products.


PMCU Division History

On October 8, 1945, Fr. Francis Druehe, OFM, Pastor of St. Mary’s Catholic Church, Metamora, IL, started the Credit Union to help members of the parish borrow money at low interest rates. Seven members signed the original Charter and by-laws. During the first financial reporting period, 35 individuals became members of the Credit Union with a share balance of $961.

Parish Members Credit Union joined the network on February 1, 2020.


IRSECU Division History

The IRSE Credit Union was chartered in 1949. Its purpose was to provide better saving and lending opportunities for the Springfield District IRS employees and their families. After the Springfield District was moved to Chicago, IRSE Credit Union opened their field of membership to other Springfield federal agencies.

Initially, the IRSE Credit Union provided share savings and loans to its members. As the membership grew, additional products and services were added to benefit members. The Credit Union continued to grow in excess of $8 million in assets at the time of the merger with CCNCU.

 IRSE Credit Union joined the network on August 1, 2020



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