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History of MidWest America
"Committed to providing competitive, quality
services for our members' financial success."
Credit unions, unlike other financial institutions, are not for profit. They exist only to serve the financial needs of their members. The credit union idea originated in Germany in the mid-1800s when Frederick Raiffesien, mayor of a small town, became appalled at the poverty of small farmers. He encouraged farmers to pool their money to make loans to each other to escape the hold of the local money lenders.
This "People Helping People" philosophy quickly spread to other parts of the world. The first U.S. credit union opened its doors in 1909 in New Hampshire. After the passage of the Federal Credit Union Act in 1935, allowing credit unions to be organized through the country, the idea was enthusiastically accepted throughout the United States.
MidWest America’s roots can be traced back to a group of General Electric employees in Fort Wayne, Indiana, who petitioned for a federal credit union charter in 1936. The National Credit Union Administration (NCUA) granted them a charter in May of that year to operate as the General Electric Employees Fort Wayne Works Federal Credit Union. The first office was actually located inside the plant. Eventually, the infant Credit Union needed more space and additional square footage across the street was secured.
In 1969, a permanent structure was built directly across Swinney Avenue from the Broadway plant. As membership increased, this office was expanded.
The first branch was opened in the fall of 1970 in Decatur, IN, across from the General Electric plant there.
In 1982, the Tillman Road facility was opened. Also that year, the NCUA allowed companies other than GE to join the Credit Union. The name was modified to General Electric Employees and Affiliates Federal Credit Union!.
In 1983, the Med-Pac Credit Union merged with the GE Credit Union. That credit union served the 3 major hospitals in Fort Wayne. Two small credit unions in Huntington (Memcor in 1983 and Majestic in 1984) were acquired. Initially, members were served from a portable branch until a new permanent branch could be constructed on Huntington’s north side. That office opened in 1989.
In 1985, members of Eastside FCU (formerly, Falstaff Credit Union) became a part of the growing family.
Since that time, over 500 companies have become part of our field of membership. This includes all the major area hospitals and the local General Motors plant. Our name was changed in 1987 to MidWest America Federal Credit Union to better reflect this expanded field of membership and market area. In October of that year, our two-story corporate headquarters opened on North Clinton at Medical Park Drive. This provided adequate space to house the support functions as well as a convenient location for a branch on the north side of Fort Wayne.
Due to membership growth, additional offices were needed. Over the next several years, new branches were added on West Jefferson Boulevard and Bluffton Road in Fort Wayne; and in New Haven and Columbia City.
In 1999, the first out of state facility opened in Scottsville, KY. Employees at the A.O. Smith plant (formerly General Electric) petitioned for local service. Initially, leased space was obtained for a branch. Eventually, a larger facility was needed and land was purchased and a full service branch was built in 2006.
In 2000, Community First Credit Union (a former GE credit union) merged with MidWest America. They were headquartered in Danville, IL. They also operated branches in Mattoon, IL, and East Flat Rock, NC.
In 2004, the CIPS Employees FCU (Central Illinois Public Service in Mattoon, IL) was acquired. The North Carolina office was subsequently closed due to difficulty to service our members from that facility.
Additional growth in the northeast and northwest areas of Fort Wayne necessitated branches at the intersections of Lima Road and Dupont Road and Stellhorn Crossing at Wheelock Road.
In 2006, Reliable FCU (formerly, Phelps-Dodge) was acquired. This credit union had an office in New Haven and also one in Hopkinsville, KY, which were re-branded as MidWest America branches.
The Credit Union operates 17 full-service offices, with 12 in northeast Indiana; 3 in Illinois; and, 2 in southwestern Kentucky. MidWest America has 200 employees, over 70,000 members, and over $443 million in assets.
What about the future?
We are constantly seeking more efficient and effective ways to better serve our members. This involves the development of new products, establishment of new facilities, and the addition of more ATMs.
We have our own in-house mortgage
servicing department to take care of our members. Also, we
now offer commercial and agricultural lending to our members too.
For additional information, please contact (260) 423-8249 or (800)
348-4738 extn 5249. Ask for Shad Edwards..
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