As a financial cooperative, First Northern Credit Union will serve the financial needs and strive to improve the financial well-being of its participating members.
To continue growing as a successful community credit union by meeting the needs of our members.
Our membership began when Commonwealth Edison established separate credit unions for each of its departments in the early 1940s. In theory, the idea worked, but in practice, it was a different story. When the company dissolved its credit unions, a handful of employees took it upon themselves to keep the idea of a financial cooperative alive. Their innovations paid off. Not only did they receive $5,000 and some office space and equipment from ComEd, they also gained approval from the Department of Financial Institutions to incorporate a credit union.
On March 1, 1944, Edison Credit Union was born. By the end of that year, we served 1,169 Commonwealth Edison employee members and had more than $88,000 in assets.
1950s, 1960s, 1970s
With the 1950s came the convenience of conducting business by phone and mail. In the '60s, we commemorated our silver anniversary, and slow and steady growth continued. The '70s was a turning point, as an innovative new convenience for ComEd employees was added: payroll deduction. Membership soared, and throughout the next two decades, we were able to leverage
economies of scale by offering more products and services more cost effectively than ever. We began offering our members the financial freedom of VISA credit cards and IRAs, ATM cards, even home equity loans and online banking. We also merged a number of smaller credit unions, gaining new members as well as nearly $34 million in assets.
1999 proved to be a watershed year for us, as we made a strategic decision that would change the world of Edison Credit Union forever: we requested a community charter. The Department of Financial Institutions granted our request, enabling us to serve consumers who lived or worked in a seven-county area in northern Illinois. And so, a new corporate identity was born. On July 1, 1999, Edison Credit Union became First Northern Credit Union. With the new name came a renewed spirit.
Headed up by a strong leadership, we opened our doors to consumers in the greater Rockford area, ultimately establishing two full-service branches. We also began serving one of our key partners — the employees of Northwestern Medicine.
We merged with Northwestern University Credit Union, allowing us the opportunity to serve faculty, staff, students and alumni of Northwestern University and Northwestern Medicine.
We relocated from our location on Erie Street and opened our Streeterville branch, on the campus of Northwestern Medicine.
We relocated our location on Clark Street and opened our Evanston branch, less than a mile from Northwestern University.
We expanded our field of membership allowing us to serve Cook County North of I-55 and Lake County, Illinois.
We expanded our mortgage operations and opened our Mortgage Service Center in Rockford on Stalter Drive.
We hold over $370 million in assets — and we’re growing every day! We proudly serve the needs of those who live or work throughout northern Illinois and provide exceptional customer service and financial products to more than 23,000 member-owners.
Help Us Lead the Way
If you’re looking for a fulfilling career with an industry-leading company that is leading the way in serving the community, look no further!
First Northern Credit Union serves 14 counties across northern Illinois as one of the largest, healthiest, and most progressive credit unions in the state. Because we’re owned and operated by our members, we work for them, not stockholders. In turn, we deliver our employees competitive salary, generous benefits, growth opportunities, and a career that gives back.
We know that by serving our employees well, we can serve our members well. We offer perks and benefits including health, dental, a 401(k) plan, paid time off, paid holidays, and growth potential. If you are ready to advance your career while working with an incredible team, send your resume and cover letter to HRCareers@fncu.org or view our open positions.
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