A new credit union is entering the Springfield market with the construction of a branch at 800 W. Stanford Ave.
1st MidAmerica Credit Union expects its new Springfield location, just east of On Track Car Wash, to open in early spring 2027.
Alan Meyer, president and CEO of 1st MidAmerica, said the credit union was excited to establish a presence in Springfield.
“Springfield is a vibrant and growing community that aligns with our purpose,” Meyer said in a statement. “This new branch allows us to bring our member-focused approach, competitive products and community commitment to more families and businesses throughout central Illinois.”
Currently, the closest 1st MidAmerica branch to Springfield is in Decatur. The credit union, which is headquartered in Bethalto, also has branches southwestern Illinois and Independence, Missouri.
Keeley Construction is the general contractor for the 4,500-square-foot Springfield facility, which is currently under construction. The project is valued at $2.5 million, according to the building permit issued by the city.
1st MidAmerica reported 2024 net income of $7.75 million and total assets of $1 billion, according to its 2024 annual report, the most recent publicly available. The credit union, which has been in business for more than 90 years, had 63,200 members as of the end of 2024.