Members First Credit Union Named Large-Asset-Size Outstanding Credit Union of the Year in Michigan

Carrie Iafrate

Members First Credit Union (M1) was officially awarded the Outstanding Large-Asset-Size Credit Union of the Year at the Michigan Credit Union League’s 2025 Annual Convention & Exposition (AC&E) in Grand Rapids on June 6. Presented by the Michigan Credit Union League (MCUL) and the Michigan Credit Union Foundation (MCUF), this recognition honors a credit union that demonstrates outstanding advocacy, performance, and a deep commitment to making a difference in its members’ lives and the communities it serves.

In 2024, M1 made remarkable progress in supporting both its members and local communities. A standout achievement was having 98.6% of its team members become Certified Financial Counselors through America’s Credit Unions. These efforts translated into financial counseling and coaching for 377 individuals, along with partnerships with 11 schools across six Michigan counties to deliver critical financial education. With support from an MCUF grant, M1 also added 660 financial literacy books to Little Free Libraries.

The credit union further deepened its community impact through partnerships with 166 organizations, 2,193 volunteer hours, and nearly $230,000 in donations and sponsorships. Over 5,200 members benefited from M1’s Whatever Loan, a payday lending alternative, along with other financial wellness offerings like Reverse Money Market, Early Pay, and Change It Up. In early 2025, M1 also launched a Bank On-certified account to promote greater financial inclusion.

In addition to its financial initiatives, Members First brought joy to communities across Michigan by hosting events like Coffee on Us, which served over 1,500 cups of coffee. During CU Kind Day, they made and delivered treat baskets for teachers and donated books to Little Free Libraries in their community areas. They also celebrated the Week of Joy, surprising 260 community members with thoughtful acts of kindness, which collectively contributed a total of $13,000.

“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 extends heartfelt gratitude to the Michigan Credit Union League (MCUL), the Michigan Credit Union Foundation (MCUF), and everyone who submitted letters of recommendation in support of this recognition, as well as to the M1 team for their ongoing commitment to making a real impact where it matters most.

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