Citizens Equity First Credit Union
| Company type | Credit union |
|---|---|
| Industry | Financial services |
| Founded | 1937 |
| Headquarters | Peoria , United States |
Area served | Central Illinois counties; Santa Clara, Alameda, and Contra Costa counties in California |
| Products | Financial services |
Citizens Equity First Credit Union (CEFCU) operates as a federally insured credit union with its main office located in Peoria, Illinois. Established in 1937 to serve employees of the Caterpillar Tractor Company, it originally functioned under the name Caterpillar Employees Credit Union (CECU) with a state charter. Later, it transitioned to a federal charter and adopted the title CEFCU (Caterpillar Employees Federal Credit Union). Following its formal separation from Caterpillar, the institution's name changed to represent a wider membership base: initially as "Construction Equipment Federal Credit Union," and subsequently as "Citizens Equity Federal Credit Union."
In 2000, CEFCU switched back to an Illinois state charter while maintaining federal deposit insurance through the National Credit Union Share Insurance Fund. Its membership encompasses employees of Caterpillar Inc., Caterpillar dealerships, approximately 550 affiliated companies, and individuals residing or working within fourteen central Illinois counties or three counties in California.
In August 2016, CEFCU acquired the naming rights for San Jose State University's Spartan Stadium with an $8.7 million agreement, resulting in the venue being renamed CEFCU Stadium.
Membership eligibility in Illinois covers residents or workers in the following counties: Bond, Christian, Clinton, Fulton, Jersey, Knox, Livingston, Logan, McLean, Macon, Macoupin, Madison, Marshall, Mason, Monroe, Montgomery, Peoria, Putnam, Randolph, Saint Clair, Sangamon, Stark, Tazewell, Washington, and Woodford. In California, eligibility is extended to those living or employed in Santa Clara, Alameda, and Contra Costa counties.