For Immediate Release
Anchorage, AK (May 29, 2026) — Credit Union 1 (CU1) and MAC Federal Credit Union (MAC) have announced that members of both cooperatives voted in favor of the proposed merger between the two Alaska credit unions, marking a major milestone in the organizations’ plans to strengthen financial access and community investment across the state.
With the member vote now complete, the credit unions will prepare for “Legal Day 1” on June 1, when the organizations will officially come together as one credit union operating under the Credit Union 1 name. The combined organization will serve approximately 112,500 members, operate 19 branches statewide—with a 20th branch slated to open in Homer later this year—and hold more than $1.7 billion in assets.
“This is an exciting moment for both organizations and for the future of cooperative banking in Alaska,” said CU1 President/CEO Mark Burgess. “Our members have spoken, and we’re honored by the trust they’ve placed in this merger. Together, we’ll continue building on nearly 75 years of service, expanding access and investing in the communities that rely on us.”
Both CU1 and MAC were founded in 1952 and share longstanding commitments to local service, financial access and supporting Alaska communities. MAC’s roots serving military families and rural Alaskans remain an important part of the combined organization’s future.
“From MAC’s founding at Fort Wainwright to its continued support for active-duty service members, veterans and their families, that mission remains central and will continue under the merged credit union,” Burgess said. “We’re proud to welcome MAC employees and members to Credit Union 1 as we continue doing more for Alaskans together.”
For members, no immediate changes will take place on Legal Day 1. Members will continue using their accounts, cards, branches and digital banking services as they do today while integration work continues over the coming months.
Over time, members can expect expanded products and services, higher lending limits, enhanced digital banking capabilities, additional statewide branch access, Interactive Teller Machines (ITMs) at all locations and increased community investment throughout Alaska.
“The future is bright and proudly Alaskan,” Burgess said. “This was an important decision made with care for the future of both credit unions, and we’re grateful to everyone who engaged thoughtfully throughout the process.”
For ongoing merger updates and frequently asked questions, visit cu1.org/macmerger.
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About Credit Union 1
Credit Union 1 is an Alaskan financial cooperative with a mission to help members achieve their financial goals by focusing on excellent service and value. Founded in 1952, Credit Union 1 currently has 15 branches and growing, nearly 100,000 members and $1.5 billion in assets. Anyone who lives or works in Alaska is eligible to join Credit Union 1.
About MAC
MAC Federal Credit Union (MAC), founded in 1952, has grown from serving federal employees in Fairbanks to a community-focused financial institution with over 20,000 members across four branches in Alaska. MAC actively supports local initiatives, donating $164,000 and contributing 2,370 volunteer hours in 2023. Guided by its mission to enhance member financial well-being, MAC provides cost-effective services while fostering community success.
Media Contact:
Jessica Gallagher, Director of Corporate Affairs and Community Impact
Phone: 907.339.8293
Email: gallaghj@cu1.org
