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Routing #: 275978721
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About Us

Since 1936, Madison Credit Union has served the financial needs of our community.

Born from the aftermath of the Great Depression, Madison Credit Union was started with 9 members signing a credit union charter. They pooled their own money and started giving out loans to those deemed ‘unqualified’ by banks.

Terms of loans were set according to a member’s ability to repay; in some cases that was just $1 at a time. Despite the hard times of the depression, members always tried to repay their loans. Delinquency was almost unheard of because we believed in our members and our members believed in us.

Today we still carry that mutual trust and respect with our members. We make meaningful connections with our members, learning each member’s story so that we can best serve their financial needs.

Although the products, services, and location have evolved through the years our mission has not changed: Big enough to serve, small enough to care.

History

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1936

City Employees Credit Union (CECU) was formed in Madison, WI by Madison Mayor James R. Law and Water Department Superintendent Leon Smith. National Credit Union pioneer Roy Bergengren was a friend of Mayor Law and had a strong influence on the building of City Employees Credit Union.

1945

Madison School Employees Credit Union merges with CECU.

1974

Madison Motor Coach (Madison Metro) Credit Union merges with CECU.

1985

CECU moves to 324 South Hamilton Street. After 50 years of service, CECU operated from various offices in City Hall. As membership and assets grew, staff grew from one part-time treasurer-manager to one, and then two, full-time staff members. Eventually the credit union outgrew available space and moved to Hamilton Street.

1992

CECU moves to 949 East Washington Avenue and opens a branch in the Madison Municipal Building. Membership expands to anyone working within a one-mile radius of any CECU.

1996

CECU opens a shared branch at 3801 East Washington Avenue and expands its charter to anyone working or living in Dane County.

2002

Madison Police Credit Union merges with CECU.

2004

CECU changes its name to Madison Credit Union (MCU) in an effort to grow membership. Members voted to change the name to attract new members from the surrounding neighborhoods and communities.

2011

MCU Celebrates 75 years of service. In 75 years, the products and services the credit union offers has evolved, but the mission remains the same: not for profit, not for charity, but for service. As we’re member owned, locally operated credit union, MCU remains a financially strong institution dedicated to the service of our members’ financial needs.

2015

MCU expands its charter to include anyone who lives or works in Dane or any of the contiguous counties (Dane, Columbia, Dodge, Green, Iowa, Jefferson, Rock, Sauk, or Walworth).

2017

MCU names its new president, Ilene Fritschler, former VP of Operations.