Mattoon Community Unit #2 Credit Union was formed in 1960 to provide
employees of the
Mattoon school district a convenient
place to save and borrow money. In 1975, the credit union merged with
the Charleston Teachers’ Credit Union to form what is now the AREA
EDUCATIONAL CREDIT UNION. Within a few years, the Moultrie County Education
Credit Union also merged and AECU continued to grow from there.
2009, the credit union serves the employees of 15 area school districts
as well as employees of Lake Land College and the Regional
Office of Education. The credit union has grown from 20 members in September
1960 to nearly 3100 members with more than $20 million in assets currently.
Area Educational Credit Union is owned by the members and governed by
them under a charter
from the state government.To ensure that the standards of the credit
union are maintained, the credit
union is examined regularly by the Illinois Department of Financial Institutions
and an independent,
certified public accounting firm.