Members First Credit Union (M1) has been honored as the Outstanding Large-Asset-Size Credit Union of the Year in Michigan by the Michigan Credit Union League (MCUL) and the Michigan Credit Union Foundation (MCUF). This prestigious award recognizes a credit union that demonstrates outstanding advocacy, performance, and a commitment to positively impacting the industry.
In 2024, Members First made significant strides in supporting its members and community, with 98.6% of its team members becoming Certified Financial Counselors through America’s Credit Unions. The credit union provided financial counseling and coaching to 377 individuals and partnered with 11 schools across six Michigan counties to deliver vital financial education. With the help of a generous MCUF grant, they added 660 financial literacy books to Little Free Libraries.
M1 partnered with 166 organizations, 2,193 volunteer hours, and nearly $230,000 in donations and sponsorships. Over 5,200 members benefited from the credit union’s Whatever Loan, a payday lending alternative, and programs like Reverse Money Market, Early Pay, and Change It Up, which supported members in strengthening their financial well-being. To further its mission of financial inclusion, Members First launched a Bank On-certified account in 2025.
In addition to its financial initiatives, M1 made a lasting impact by spreading joy throughout the community. Through events like Coffee on Us, CU Kind Day, and Week of Joy, the credit union handed out 1,500 cups of coffee, supported local small businesses, and surprised 260 residents with acts of kindness, totaling $13,000. Furthermore, Members First led a matching campaign that raised over $20,000 for the Affordable Housing Alliance of Midland, furthering its commitment to uplifting and strengthening communities.
“The recognition of the incredible work we do and the purpose we bring to each day is truly inspiring,” said Carrie Iafrate, President & CEO of Members First Credit Union. “I am incredibly proud of how our team shows up every day with intention, making a meaningful impact while finding joy.”
Members First Credit Union would like to express sincere gratitude to those who nominated the organization, the MCUL, and the MCUF for the award and to the entire M1 team for their commitment to making a difference in the lives of their members and the communities they serve.
The credit union will be formally recognized at the 2025 Annual Convention & Exposition this June. For more information about Members First Credit Union’s community initiatives, visit www.mfcu.net/community-impact.