In Memoriam

Our long time Chair and champion of the Imperial Credit Union, Theresa Faith Cummings, passed away September 8, 2024.  Miss Cummings served as chair from 1984 to February 2024.  We are the smallest credit union in Illinois, but we are known throughout the state because of our persistence in serving  our community. Miss Cummings will be sorely missed but she leaves a legacy of service.  Homegoing services will be held at St Paul AME Church in Springfield on Saturday, Sept. 21st at 10 am, with visitation at 9 am.
​​Obituaries in Springfield, IL | The State Journal-Register
Welcome to Imperial Credit Union. Our purpose is to “Lend a Helping Hand” to the members and families of the African Methodist Episcopal (AME) church of the Illinois Conference Branch, which includes parts of Iowa, by promoting valuable access to financial services to the community, including people underserved and unserved by traditional financial institutions, as outlined in the Fair Credit Reporting Act (FCRA). We are a volunteer organization devoted to serving its members.
We are happy to announce this year's officers:
Darphy Harris - President
Rev Dr Kathleen Wright - Vice-President
Geraldine Robinson - Secretary
Presiding Elder (ret) Gary McCants - Treasurer 

We thank outgoing president Theresa Faith Cummings for her many years of faithful service. 
Graduations and weddings are always perfect times to remember our gift cards.  Don't forget Father's Day.  These cards are available in amounts from $10 to $1000.  They can also be used as everyday spend cards to help manage your spending during vacations or other special times.  We also have digital gift cards that can be used for online ordering from your favorite store.
The Imperial Credit Union is again offering its 10/10 Loan Program - $1000 at 10% interest with up to 12 months to repay.  These are available to qualified member borrowers with good credit scores. 
​Call us at 217-481-6381 or email [email protected].

Did you know?

~Imperial Credit Union is the oldest continuously African American-owned business based in Springfield, Illinois. ~
What is a Share-secured Loan? 
A share-secured loan is one in which the funds are secured by your deposited shares. Any members that have over $500 in their accounts can borrow against their balance. Loans can be $500 - $2500, depending on your balance. Interest rate on such loans are 5% and there is no threat to your credit score because we do not check it. The only caveat is that if you become delinquent in paying the loan back, the balance is withdrawn from your account. The benefit is that when you complete paying off the loan, your balance is still in your savings. Contact us at 217-481-6381 or email us at [email protected].

​10 Reasons To Open a Saving Account

Safety - The National Credit Union Administration (NCUA) insures up to a maximum of $250,000 in your credit union savings account. If the credit union fails, the NCUA covers your deposits. No one has ever lost money in an NCUA-insured account.
Accessibility - Funds in your savings account are readily accessible. You can make withdrawals from your savings account by calling or leaving a message at 217-481-6381, by sending us a note at [email protected], or requesting a withdrawal through PayPal at . Do not include any personal information such as a Social Security Number in the above requests.
Emergencies - Emergencies, such as losing your job, can cause stress on anyone's financial situation. Having several months' worth of living expenses in savings can help take the pressure off until you can get back on your feet.
Big Ticket Items - You might not have the resources to make a major purchase on the spur of the moment. By setting aside a fixed amount of money in a savings account each month toward the price of a big-ticket item, you will have the funds available to pay cash and avoid going into debt.
Unexpected Expenses - Life happens. You might have a tire blow out, or you might blow the engine in your car. Your sister might go into premature labor and you need to fly to Denver tonight. Unexpected expenses can put a huge damper on your financial plan; money set aside in a savings account can cover them.
Encourages Financial Stability - Pay yourself first. Regularly putting a portion of each paycheck into savings helps create a sense of financial stability.
Discourages Reckless Spending - It is easier to spend money that is in your pocket than to spend money that you have to get from the bank or the ATM. This "out of sight, out of mind" scenario may help discourage impulse buying.
Sets a Good Example for the Kids - Putting money into a savings account at your local bank provides you with a teachable moment with your kids. Showing your kids how to save gives them an opportunity to learn self-control. Studies suggest that children who have savings accounts have less stress, a greater sense of hope and are more likely to attend college than kids who don't, according to the American Bankers Association.
Encourages Sound Financial Habits - Regularly putting money into a savings account is a first step in creating habits that extend into other areas of your financial life. As you become more financially literate, you may discover the need to create a budget to tell you where you spend your money, and a financial plan to help guide you toward your goals for the future.
Interest - Savings accounts pay interest on your deposits. Granted, the interest on savings accounts is minimal, but it is better than putting cash under your mattress where it earns nothing at all.

Loans

Do you need a extra money for back to school expenses, vacations, or home and car repairs? 
​ICU is now lending qualified member borrowers up to $2500 for up to 24 months. 
Click on the link to download a loan application and send to Imperial Credit Union at [email protected], or
mail to Imperial Credit Union, PO Box 4525, Springfield, IL 62708.

Gift Cards now available

​Need a gift for a birthday, anniversary, graduation, promotion or simply to say thanks? Our Visa Gift Cards come in colorful designs to celebrate any special event. These debit cards can be used anywhere Visa is accepted worldwide, including in-store, online and by phone. So they’re more functional than a gift certificate and safer than cash.
ORDER YOUR GIFT CARDS NOW
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In Response to COVID-19
The Imperial Credit Union knows that most of you are experiencing much stress from Covid 19. For those for whom this is also a financial challenge, ICU will do what we can. We need to keep people out of the office space, but you can call us at 217-481-6381 or email us at [email protected] to request withdrawals or a loan application. You can also use PayPal to make withdrawals, deposits, and loan payments. Our Paypal address is [email protected]. Remember, as long as you leave at least $5 in your account, it will remain open. Continue to mail loan payments and deposits to PO Box 4525, Springfield, IL 62708. If you have been laid off, fired, or given reduced hours, you may need a loan when you return to your regular work. We are ready to help where possible. Stay safe, everyone.
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