Our History

History of Avestar Credit Union

Five Decades of Excellence!

Perry Employees Credit Union began serving employees of Perry Printing in 1964. Our charter was expanded in 1974 to serve Artcraft employees and the former Kress Employees Credit Union members. Then in 1988, the Credit Union charter was changed to a Community Charter in order to serve all the people who lived or worked in the City of Waterloo. At that time, we became known as Perry Communities Credit Union.

Our charter expanded in the fall of 2001 to serve persons residing or employed in the cities or towns of Columbus, Lake Mills, Marshall, Medina, Reeseville, Watertown, and Waterloo in addition to employees of Trek Bicycle and Northstar Print Group. With the larger charter came a need for a new name, and in October of 2002, we changed our name to Avestar Credit Union.

Finally, our charter expanded once again in 2015. Currently, we proudly serve members living or working in the counties of Dane, Dodge, Columbia, and Jefferson.

History of Members First Credit Union, An Affiliate of Avestar Credit Union

Members First Credit Union was organized as the Sub-Zero Credit Union in 1954, with 13 employees as members. In the early 1990s, the credit union brought in other business-based Credit Unions, including Federal Industries, Immaculate Heart of Mary Parrish, Kayser Motors, and Dairy Equipment. With these added memberships, a name change was decided, and that is how we became Members First Credit Union.

In 1994, the credit union moved to 2801 W Beltline Hwy. from the basement of the then-president, Nick Kessenich. In 2011, a new building was built at 3401 W Beltline Hwy, and the charter was opened to the communities in Dane, Iowa, and Rock counties.

2023 Merger

In late 2022, both boards of directors of each credit union agreed upon a merger as a desirable option and in the members’ best interest because the membership would have more branches and staff to help with their financial goals. Merging credit unions offers more resources to help with improved security and expanded services. Pooling our resources also helps to reduce expenses.