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MAC FCU and Credit Union 1 Announce Plans to Join Forces
MAC and CU1 have agreed to terms with the intent to merge the Alaska-based financial institutions under Credit Union 1 to provide improved and expanded service to Alaskans.
Shared Roots and a Unified Vision
At Credit Union 1, we are always looking for ways to better serve our members and strengthen financial opportunities across Alaska. That’s why we’re excited to announce our intent to merge with MAC Federal Credit Union (MAC)—another trusted, Alaska-grown financial institution with deep roots in the state we both call home.
CU1 and MAC have common origins; we each were founded in 1952 and are both solely focused on serving Alaskans. This merger is not just about combining assets, it’s about uniting two legacies of service, resilience and innovation to create something even stronger. By integrating our strengths, we will offer new financial opportunities to our members, expand access to services, and further support economic growth across the state.
When combined, we will continue to operate as Credit Union 1 and will serve more than 112,000 members across 19 branch locations, with more than $1.6 billion in assets.
Doing More for Alaskans
"For more than 70 years, both CU1 and MAC have been dedicated to expanding financial access, providing education, and supporting the communities we serve. This merger allows us to build on that legacy, reaching even more Alaskans with the same dedication and heart. We cannot wait to join forces with our MAC colleagues and welcome their members to CU1!”
- Mark Burgess, President/CEO
What Lies Ahead
Our announcement of merger plans marks the completion of a thorough review of financials and deep discussions of shared values. As of spring 2026, this proposal has completed state and national regulatory review and has moved to a member vote.
MAC Member Vote | April 11 to May 28
A Special Meeting of the MAC membership to vote on the proposed merger will be held on May 28, 2026, at 6:30 p.m. at 1317 Wembley Ave, Fairbanks, AK.
- Note that ballots cannot be dropped off at MAC or CU1 branches. MAC members must either mail their ballot using the prepaid envelope or vote online.
- To vote online, visit: https://macfcu.cuballot.com/
- Mailed ballots must be received by May 28, 2026, at 6:30 pm to be counted.
- To vote, MAC members must be 16 or older and a member as of February 28, 2026 (members who joined after that date will not receive a ballot).
Credit Union 1 Special Session | May 27
As part of the CU1 governance process, a CU1 member vote will take place during an upcoming virtual special session on May 27, 2026 at 6pm. Connection details will be provided here day-of, so please check back.
Note that at this special session, no other business will be conducted and only CU1 members in good standing who joined the credit union before March 1, 2026 are entitled to vote. A quorum of CU1 members is required for this session, in accordance with the credit union's bylaws.
In the meantime, there are no immediate changes to CU1 and MAC member accounts, branch access, or services. We will continue to provide member updates and information throughout the process, and this webpage will be updated as new details become available.
Questions or comments? We welcome your feedback. Please share it here.
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Credit Union 1 and MAC Federal Credit Union have both always been dedicated to serving Alaskans, and by coming together, we can do even more. This merger allows us to expand services, offer more resources, and strengthen our ability to support members—all while preserving the local, member-owned values that make our credit unions special. Together, we’ll continue to put members first and create more opportunities for financial empowerment across the state.
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For now, nothing is changing. Your account numbers, debit and credit cards, direct deposits, checks, Bill Pay, and automatic payments will continue to work as usual. If any changes become necessary as we integrate systems, we’ll provide clear communication, plenty of advance notice, and support to make the transition as smooth as possible.
If you have accounts with both CU1 and MAC, they will remain separate for the time being. We’ll keep you updated on how those may be managed in the future for the best possible experience.
Safe Deposit Boxes will remain secure and accessible at their current locations. As always, your deposits are federally insured by the NCUA up to $250,000 per individual depositor, per account category.
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Both were founded in Alaska, operate solely in Alaska, and we will remain fully committed to serving only Alaskans. This merger brings together two local institutions with shared values and a deep dedication to our communities.
MAC and CU1 are both member-owned, Alaska-based credit unions. MAC was founded in 1952 as Fort Wainwright Federal Credit Union and later renamed MAC Federal Credit Union. CU1 was also founded in 1952 as the Anchorage Teachers Credit Union. There are no external or international owners—our members are at the heart of everything we do.
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Once merged, you’ll be able to access services in more places! With plans to keep all branch locations, both MAC and CU1 members will enjoy access to a total of 19 branches all across the state when fully integrated. There will also be more than 50 ATM/ITM’s to use, and a Co-op network with more than 30,000 surcharge-free ATM’s all around the country.
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The merger was carefully considered by both credit unions’ leadership teams and boards of directors before being announced. Now that we’ve shared our intent to merge, the next steps include securing approvals from state and federal regulators, followed by a member vote from both CU1 and MAC. This means members will have the final say before the merger moves forward.
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The employees who help you today are staying put! We anticipate being able to keep all staff if the merger is approved. This means the smiling faces and knowledgeable employees you’re working with at both CU1 and MAC each day will still be here. Our goal is to find a spot for every employee and retain the expertise and community care that you’re used to.
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We’ll keep you informed through multiple channels, including direct emails, social media updates, and our dedicated merger webpage. This page will be updated regularly with news, FAQs, and important dates—so be sure to check in often!