Business Details
50+ Years
experience
Your Trusted Credit Union Partner in Chicago Since 1963
Israel Methcomm Federal Credit Union has served members since 1963 as a member-owned, not-for-profit financial cooperative. Our volunteer Board of Directors, elected by members, ensures we prioritize community needs over profit. We specialize in providing accessible financial solutions including personal loans, auto loans, home improvement loans, and savings accounts with competitive rates. Our mission focuses on economic empowerment for underserved populations through financial education and responsible lending practices. We offer financial counseling services led by certified board members and volunteers trained through the Credit Union National Association.As a federally insured institution, we protect members' deposits up to $250,000 through the National Credit Union Share Insurance Fund. Our unique model returns earnings to members through lower loan rates, higher savings returns, and reduced fees. We maintain partnerships with Invest in America to provide exclusive member discounts on various services. Membership remains open to Israel Methcomm parishioners, their families, and church employees, with lifelong benefits regardless of employment or residence changes. Our commitment to the Gospel of Jesus Christ guides our approach to financial services and community development.
Services
Savings Accounts
Auto Loans
Home Improvement Loans
Personal Loans
Financial Counseling
Share Secured Loans
Pre-Paid Debit Cards
Details
- Year established: 1963
Highlights and features
- Member-owned cooperative returning profits directly to members
- Financial counseling services from certified professionals
- Competitive rates on auto, home, and personal loans
- Community-focused mission serving underserved populations
- Lifelong membership benefits regardless of life changes
Associations and certifications
- National Credit Union Administration (NCUA)
Services
Savings Accounts
Our savings accounts provide secure financial storage with competitive interest rates. Members establish ownership through a minimum deposit of $5-$50. Accounts receive federal insurance up to $250,000 through NCUA, ensuring fund safety while building financial stability through regular contributions.
Auto Loans
We offer low-rate auto loans for new and used vehicles with flexible terms and no prepayment penalties. Our financing options help members purchase reliable transportation while maintaining affordable monthly payments tailored to individual financial situations.
Home Improvement Loans
These loans support property upgrades with quick approval processes and competitive interest rates. Designed for home maintenance or value-enhancing projects, they help members improve living conditions while building home equity through responsible borrowing.
Financial Counseling
Certified counselors provide personalized financial education covering budgeting, debt management, and credit building. Our services include National Endowment for Financial Education courses and one-on-one guidance to help members achieve long-term financial stability and independence.
Personal Loans
Flexible personal loans address various needs like back-to-school expenses or property tax payments. With reasonable rates and terms, these unsecured options provide financial solutions for unexpected costs while helping members maintain financial control.
Questions
What makes Israel Methcomm different from traditional banks?
As a member-owned credit union, we return profits to members through better rates and lower fees while prioritizing community financial education and empowerment.
Who qualifies for membership?
Membership is open to Israel Methcomm parishioners, church employees, and their family members with lifelong benefits regardless of employment or residence changes.
What loan types do you offer?
We provide auto loans, home improvement loans, personal loans, share secured loans, and short-term small amount loans with competitive rates and flexible terms.
Are my deposits safe with you?
Yes, all accounts receive federal insurance up to $250,000 through the National Credit Union Share Insurance Fund administered by NCUA.
Do you offer financial education resources?
We provide financial counseling from certified professionals and distribute educational materials including the National Endowment for Financial Education course.
How can I apply for membership?
Apply through our electronic membership application or contact us at (708) 844-7023 to schedule an appointment for in-person assistance with account opening.
