Who Are We?
Premier Credit Union was founded in 1961 as a member-owned financial institution. Since 1961, PCU has grown and expanded. We are a full service, not-for-profit financial institution offering most all the products that a bank provides, with greater value, better rates, lower fees, and superior service!

Premier Credit Union serves anyone living or working in numerous townships in the northwest suburbs of Chicago, Illinois. We also serve a large majority of school districts in our local area. Various companies also offer their employees membership in Premier Credit Union as an employee benefit.

Experience the Credit Union Difference

• Not-for-Profit
• Member owned and operated since 1961
• Restricted Membership
• No outside investors or paid stockholders
• Exceptional loan rates and excellent dividend rates
• Traditional values and personal service
• Full line of financial services

Am I eligible to join?

Why Choose Us?

Are We Insured?

What are Credit Unions?

History of Credit Unions

What are Credit Unions?
Credit unions are non-profit cooperatives, formed by groups of people to provide low cost financial services. Before credit unions existed, banks took advantage of the common consumer by charging excessively high rates. In the mid 1800’s, farmers and other groups grew tired of this unfair treatment and formed their own cooperatives, pooling their funds for the benefit of their own groups. This idea caught on and over the last 150 years, the U.S. credit union industry has grown to almost 10,000 credit unions.

History of Credit Unions
The credit union idea is a simple one: People should be able to pool their money and make loans to each other. It's an idea that evolved from cooperative activities in 19th century Europe. Since that time, the idea's guiding principles have remained the same: (1) Only people who are credit union members should borrow there; (2)loans are made for "prudent and productive" purposes; (3) a person's desire to repay (character) is considered more important than the ability (income) to repay. Members are, after all, borrowing their own money and that of their friends. These principles still govern most of the world's credit unions. As the 20th century began, the credit union idea surfaced in Canada. Canada's successful efforts profoundly influenced two Americans: Pierre Jay, the Massachusetts banking commissioner, and Edward A. Filene, a Boston merchant.

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