We create financial wellness in our communities through personal everyday banking.
American 1's History
American 1 began as the Jackson Co-Op Federal Credit Union, a service provided to members of the Jackson Co-Op, and was founded in 1950. The Jackson Co-Op Credit Union was originally located at the local United Rubber Workers Hall 185 on a part-time basis, featuring 47 members, three full-time employees in its first year.
Later, the credit union purchased a small house on Chapin Street in 1951 and a vacant church on Pearl Street in 1962. Needing more office space to accommodate its growing membership, the Jackson Co-Op Credit Union bought the McCourtie dealership on Michigan Ave. in Jackson and established our current Home Office location. By 1964, Jackson Co-Op Credit Union had acquired over 5,000 members - and even sold “Co-Op appliances” until 1974. The credit union soon established branches in Battle Creek and Hillsdale, and other areas outside of Jackson.
In 1987, Jackson Cooperative Credit Union officially changed its name to American 1 Federal Credit Union. In October 2011, to continue its strong growth, American 1 became a state chartered credit union and the new name became - American 1 Credit Union.
Today, American 1 provides services to over 58,000 members. American 1 has more than 200 employees and serves Jackson, Calhoun, Washtenaw, Hillsdale, Lenawee, and Wayne Counties.
What is a Credit Union?
A credit union is about people helping people. All credit unions are not-for-profit and are owned by the members. Credit unions offer the same services as banks and because credit unions are not-for-profit, any earnings are returned to members as higher dividends and low-interest rate loans. It also allows for lower operating costs, meaning fewer fees for members.
A credit union is a member-owned cooperative that is directed by a volunteer board, elected by the credit union members. This is different from a bank where only stockholders vote according to the number of shares of stock they own.
A cooperative is an organization of people united by a common bond. The common bond shared by all American 1 members is their association with our founding organization, Community 1 Cooperative. Our founders chartered American 1 as an associational credit union, meaning anyone who belongs to Community 1 Cooperative is eligible to join American 1. Community 1 Cooperative continues to offer our members additional services and benefits.
Our staff is dedicated to providing outstanding personal service for our members. We strive to greet our members by name and offer a friendly, inviting atmosphere. Become a member today!
Board of Directors
|Phil Hoffman||Frank Weathers|
|Board Chairman||Vice Chairman|
|Jerry Tremaine||Al Eichenberg|
|Julie Alexander||Linda Schaub|