Press Releases

Record $40 Million Extraordinary Dividend to be Distributed to CEFCU Members

December 15, 2014

Peoria, IL — A record $40 million Extraordinary Dividend was recently announced by CEFCU's Board of Directors and will be distributed to the Credit Union's member/owners. The amount each member will receive was determined by dividends earned and interest paid during the first 11 months of the year, as of November 30, 2014. On December 16, dividends will be deposited to members' Savings accounts.

Over the last 15 years, CEFCU has returned $115 million in Extraordinary Dividends to members. CEFCU Board Chairman, Brad Arnold, stated, "This Extraordinary Dividend is the largest in the history of the Credit Union. CEFCU continues to see strong financial results, and this success is due in no small part to the continued loyalty of member/owners."

Mark Spenny, CEFCU President/CEO, added, "CEFCU is a strong financial institution. Members handle their finances in an extremely responsible manner, which means the Credit Union has low loan losses. In addition, members are very loyal, and are committed to doing more of their business with CEFCU. As a member-owned financial institution, the Credit Union's staff and the volunteer Board of Directors work diligently to keep the best interest of member/owners at the forefront of every decision we make. When a credit union's business is even better than projected, members share in those benefits — which this year resulted in a $40 million Extraordinary Dividend! It's members' money, and that is what makes CEFCU not a bank. Better!"

Members can learn more about this year's Extraordinary Dividend from CEFCU's President/CEO, Mark Spenny, at cefcu.com/dividend.

With assets totaling over $5 billion, CEFCU serves over 300,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

CEFCU Receives Superior Rating

July 25, 2014

Peoria, IL — CEFCU received a 5-Star or “Superior” rating — the highest rating awarded — by BAUERFINANCIAL, an independent organization that has been analyzing the performance of all financial institutions since 1983. This rating indicates CEFCU is a safe, financially-sound credit union that is operating well above regulatory capital requirements, having a capital to assets ratio of over 9%. BAUERFINANCIAL rates credit unions based on asset quality, capital adequacy, profitability, historical trends, reserves, and regulatory compliance.

As of the end of May, CEFCU’s assets were over $5 billion. Members’ savings reached over $4.4 billion, and loans outstanding totaled $3.4 billion. CEFCU savings plans are federally insured up to $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency.

With assets totaling $5 billion, CEFCU serves more than 302,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

CEFCU Reports Outstanding Achievements and a Record Extraordinary Dividend in 2013

May 29, 2014

Peoria, IL — At CEFCU’s recent Annual Meeting, the Credit Union reported outstanding achievements for 2013. At the end of the year, Assets were more than $4.9 billion, which is an increase of over 2.5% compared to 2012. Savings deposits and loans outstanding were at historic levels. And, total membership for 2013 grew by over 5,500 members.

At the Annual Meeting, Thea Robinson, 2013 Chairman of the Board of Directors, stated, "In recognition of strong member loyalty, combined with staff controlling expenses while making solid business lending and investment decisions, the Board of Directors authorized a RECORD $12 million Extraordinary Dividend to members at year end. Over the past 14 years, CEFCU has returned $75 million in Extraordinary Dividends to member/owners. " Keeping true to the insight that launched CEFCU 75 years ago, it just proves that together, we’re better.

Credit Union Officers, Directors, Supervisory Committee members, and Associate Board members for 2014 will be: Brad C. Arnold — Chairman; Joseph R. Needham — Vice Chairman; Nancy M. Medendorp — Vice Chairman; Robert M. Metzinger — Vice Chairman; Mark A. Spenny — President/CEO and Treasurer; Thea M. Robinson — Secretary; Todd W. Bryant; Bruce G. Dimler; James L. Gleich; Todd C. Gwillim; David M. Koehler; David E. Rossman; Kavita Sachdev; Sean D. Scranton; Grant M. Seshul; and Reed A. Stuedemann. Jennifer L. Quine serves as the Recording Secretary.

In 2013, CEFCU contracted with MasterCard and staff began working on preparations to transition debit and credit card products from Visa to MasterCard. Partnering with MasterCard will offer significantly more benefits to members at no cost to them.

In December, the new Germantown Hills Member Center opened its doors. The facility is located directly across from the former Jubilee Foods grocery store in the Germantown Crossing Shopping Center. The free-standing Member Center is 4,500 square-feet and includes Member Service Representatives to process loans, conduct account transactions, and assist both members and business members with all their financial needs.

The East Peoria Member Center redesign — which included adding walls to the Member Service Representative offices, and dividers at the teller counter — provides enhanced privacy for members to discuss their financial needs and grow their CEFCU relationships. The outside landscaping was also updated, and the member entrance was enhanced.

With assets totaling $5 billion, CEFCU serves more than 300,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

CEFCU Board 2014

(Front to Back, Left to Right)
1st row: David Rossman, Jennifer Quine, Todd Bryant, Nancy Medendorp, Thea Robinson, Grant Seshul
2nd row: Todd Gwillim, Jim Gleich, Robert Metzinger, Brad Arnold, Mark Spenny, Reed Stuedemann, David Koehler, Joseph Needham, Bruce Dimler

Back to top

CEFCU Members/Owners Receive Record $12 Million Extraordinary Dividend

December 17, 2013

Peoria, IL — CEFCU's Board of Directors is pleased to announce that a record Extraordinary Dividend of $12 million has been distributed to CEFCU member/owners. This dividend was based on members' savings and loan activity during the year 2013, with $6 million going to borrowers and $6 million going to savers. The amount each member received was determined by dividends earned and interest paid during the first 11 months of the year, as of November 30, 2013. On December 16, dividends were deposited to members' Savings accounts.

Over the last 14 years, CEFCU has returned $75 million in Extraordinary Dividends to members. CEFCU Board Chairman, Thea Robinson, stated, "The Credit Union continues to see strong financial results, and this success is due in no small part to the continued loyalty of CEFCU member/owners. I am proud the Credit Union is able to extend this dividend, the largest in the history of the Credit Union, to members. Credit unions exist for members, not for profit. So, when business is good, those benefits are returned to the member/owners."

Mark Spenny, CEFCU President/CEO, added, "The credit union not-for-profit business model of borrowers and savers helping each other is still alive today. As a result, those members who borrowed and saved with CEFCU during 2013 are sharing in a RECORD $12 million Extraordinary Dividend. When business for a credit union is better than projected, members share in those benefits. It's their money, and that is what makes CEFCU not a bank. Better!"

With assets totaling $4.9 billion, CEFCU serves more than 297,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

New CEFCU Member Center in Germantown Hills, Illinois is Open

December 16, 2013

Peoria, IL — The new CEFCU Member Center in Germantown Hills, Illinois is now open. This full-service, 4,500 square-foot facility is located directly across from the former Jubilee Foods grocery store in Jubilee Crossing. This free-standing Member Center includes Member Service Representatives to process loans, conduct account transactions, and assist members and business members with all their financial needs. A CEFCU Mortgage Originator is available to help members with their home loan needs.

Members can enjoy quick, convenient service from four drive-up service lanes, along with a drive-up Money Center 24 ATM. In addition, three Fast Track Teller Machines are located in the Member Center vestibule, and are available to members 24 hours a day, 7 days a week.

In tradition with CEFCU's newer Member Centers, the Germantown office is a "green," or LEED-certified Member Center. LEED stands for Leadership in Energy and Environmental Design. The Member Center is not only energy efficient, but was also built with recycled and re-used materials, utilizing natural lighting and natural fabrics within the Member Center design.

With assets totaling $4.9 billion, CEFCU serves more than 297,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

CEFCU Offers Free Credit Monitoring to Members Impacted by Recent Central Illinois Tornadoes

November 26, 2013

Peoria, IL — The recent tornadoes in central Illinois have left many families devastated. Personal items from these destroyed homes have been found in towns miles away.

Since most individuals keep financial information in their homes, to provide peace of mind and better protect the integrity of member credit, CEFCU is offering one year of FREE credit monitoring through TransUnion Interactive, a subsidiary of TransUnion, one of three nationwide credit reporting companies, to all CEFCU members impacted by the recent storms and tornadoes in central Illinois. This monitoring subscription includes:

  • Unlimited online access to the member's TransUnion credit report
  • TransUnion credit monitoring and email alert notifications when key changes occur
  • Unlimited, toll-free access to credit specialists
  • Up to $1 million of identity theft insurance with no deductible (certain policy limitations and exclusions may apply)
  • Unlimited online access to credit management and identity theft prevention resources

If CEFCU members are interested in taking advantage of this offer, they can stop by a Member Center or call CEFCU's Disaster Response Team at 309.633.7000 or 1.800.633.7077. Members must enroll before April 30, 2014. Credit monitoring will be active one year from the date of enrollment.

With assets totaling $5 billion, CEFCU serves more than 297,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

CEFCU Donates $100,000 to American Red Cross, Central Illinois Tornado Relief Efforts

November 18, 2013

Peoria, IL — To assist with local relief efforts in central Illinois due to recent tornadoes, CEFCU has donated $100,000 to the Central Illinois Chapter of the American Red Cross, Central Illinois Tornado Relief. These funds will help local communities with much needed disaster relief.

Donation canisters will be available in Central Illinois CEFCU Member Centers to collect contributions. All funds will be given to the American Red Cross to support Central Illinois relief. And, CEFCU employees will hold an Employee Casual Day on Wednesday, November 20, with all funds collected going to the American Red Cross relief efforts as well.

Sue Portscheller, CEFCU Vice President, stated, "Many of our co-workers, friends, families, and members have been affected by the recent tornadoes, and our hearts go out to them. I am so proud that CEFCU employees wanted to offer their personal support and show their concern for the communities impacted."

CEFCU has established a special disaster response team to ensure affected members receive prompt, one-stop service regarding their accounts. Members can call CEFCU at 309.633.7000 or 1.800.633.7077, or stop in any CEFCU Member Center.

With assets totaling $5 billion, CEFCU serves more than 295,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

CEFCU Announces the CEFCU Payback Project

October 03, 2013

Peoria, IL — CEFCU is proud to announce the start of an exciting contest to honor everyday heroes. The CEFCU Payback Project puts a spotlight on individuals who make a difference in someone's life and deserve to be noticed.

Entries are being accepted for the CEFCU Payback Project through November 15, 2013. Entries may be submitted either by video or written story. Individuals can thank anyone from a family member who helped put them through college, a friend who gave them a place to stay while looking for an apartment, or a neighbor that donates their time to serve the community. No matter how big or how small, the CEFCU Payback Project exists to praise those whose good deeds deserve to be noticed — and rewarded. Members could win up to $1,000 in CEFCU Visa® Gift Cards for both themselves and their hero.

With every entry, participants can choose one of three preselected charities to receive a $25 donation from CEFCU: American Heart Association, Children's Miracle Network Hospitals, or Habitat for Humanity. During the Project voting time, each vote will give one of the charities another $1 from CEFCU.

Project Timeline

  • Submit your story: October 1 – November 15
  • Preliminary voting: October 1 – November 21
  • Final voting: November 22 – December 12
  • Announcement of winner: December 13

With assets just under $5 billion, CEFCU serves nearly 297,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

CEFCU and CEFCU Employees Donate $5,000 To American Red Cross Relief Efforts

May 15, 2013

Peoria, IL—To assist with local relief efforts in central Illinois due to substantial rainfall and flooding, CEFCU employees and Board Members gave $2,500 to help local communities with much needed disaster relief supplies. CEFCU matched that figure with a corporate donation bringing the total contribution to $5,000, which will be given to the Central Illinois Chapter of the American Red Cross.

Sue Portscheller, CEFCU Vice President, stated, "Many of our friends, families, and members have been affected by the recent flood waters and excessive rainfall. I am so proud that CEFCU employees wanted to offer their personal support and show their concern for to the communities affected."

With assets totaling $5 billion, CEFCU serves more than 295,000 members through 20 central Illinois Member Centers and 3 Member Centers in Santa Clara County, California; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, cefcu.com; CEFCU's Mobile website, m.cefcu.com; the surcharge-free CO-OP ATM Network; and the CU Service Center Shared Branch Network.

Back to top

CEFCU Announces Acquisition of Valley Credit Union

December 31, 2008

Peoria, IL — CEFCU was chosen by the NCUA (National Credit Union Administration) to assist credit union members currently served by a struggling institution in California. The NCUA sought a strong, well-capitalized credit union to take control of Valley Credit Union. Valley Credit Union, based in San Jose, California, has 20,000 members and $200 million in assets. This acquisition will enable CEFCU the opportunity for future growth and diversification, while ensuring current members continue to receive the lowest possible loan rates, and highest possible savings dividends. There are no changes to CEFCU's Board of Directors or leadership, and the Credit Union will remain headquarters in Peoria, Illinois.

Mark Spenny, CEFCU President/CEO stated, "CEFCU is pleased the NCUA has such confidence in our solid strategic planning ability and strong lending discipline — key elements in turning Valley Credit Union around. CEFCU has acquired credit unions in the past, and each time, the acquisition has opened the door to new or expanded products and services which have benefited all CEFCU member/owners. We are pleased to welcome Valley Credit Union and its members into the CEFCU family."

With assets totaling over $3.6 billion, CEFCU serves 235,000 members through 19 Central Illinois Member Centers; the CEFCU Financial Center; the Money Center 24 ATM Network; CEFCU's website, www.cefcu.com; cefcu.mobi; and Valley Credit Union, a division of CEFCU.

Back to top