About 1st Illinois Credit Union
In 1951, regulations did not allow employees or directors of credit unions to borrow at their own credit unions. As a result, it was decided to form a new credit union to serve employees and directors of the credit unions within Vermilion County. We received our State of Illinois charter in 1951 under the name of Vermilion County Chapter Credit Union.
Initially, we operated out of the home of Taylor Clark, our first Treasurer. Some time later, we moved to a garage on Fairchild Street and then eventually near the corner of Fairchild and Oak Streets.
In 1970, the credit union moved to 811 Oak Street where we shared office space and personnel with five other credit unions. Eventually, all but one these credit unions merged with us.
In the early 80's, the Vermilion County Chapter Credit Union charter was changed to an "associational" charter which permitted us to serve members in Vermilion, Edgar, and Clark Counties. Anyone living or working within the three county area was eligible for membership. To reflect the expanded membership base, our name was changed to First Illinois Credit Union on April 1st, 1984.
In January of 1985, we opened our branch office at the corner of Bowman and Voorhees, which provided members with two locations and drive-up service. The credit union was growing, and by June of 1987, we relocated the main office to our present location at 323 North Gilbert Street in Danville.
In September of 2009, we merged with the L&N & C&EI Credit Union. Over 400 members joined First Illinois Credit Union and are now enjoying the myriad of services offered to the Membership. In December of 2010, our membership welcomed Danville Holy Family Credit Union into the fold by adding another 400 members.