SOCU Adds Woodford & McLean
February 28th, 2014The Illinois Department of Financial Institutions has approved a request from SOCU, formerly Streator Onized Credit Union, to expand its charter of service to include those who live or work in McLean and Woodford counties. Formerly, credit union membership was only available to those who lived or worked in La Salle, Livingston, Marshall, Grundy, Putnam and Bureau counties.
“This new charter reaffirms our commitment to the people of Central Illinois,” said Kathy Lucas, the credit union’s CEO. “Thanks to our new charter, we will be able to reach those people who weren’t eligible for membership before. We will also be able to serve existing members more effectively locating credit union branches and ATM machines where many of them live and work. For us, the expansion of our charter is an ideal way to celebrate our upcoming 75th anniversary — by having the opportunity to serve more residents of our communities.”
SOCU currently has more than 23,000 members and assets exceeding $191 million. It offers a full range of financial services, including auto loans, mortgages, credit cards, online banking, mobile banking and bill payment, home equity lines of credit, as well as traditional savings, checking and money market accounts.
Like all credit unions, SOCU is a financial cooperative owned by and operated for the benefit of its members.
“The credit union is member-owned — it has no stockholders,” Lucas said. “We are a community organization working directly for residents of Central Illinois.”