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About Us

The Board of Directors consists of members of the Area Educational Credit Union. The function of the board is to develop, review and monitor the policies, practices and performance of the credit union. 

Board Members
Name Title
W. Max Jaeger Chairman
J. Michael Coffman Vice-Chairman
M. Kaye Honn Secretary
Kerry Fearn President/CEO, Treasurer
Jeremy Doughty  
Brenda Jones  
Sue McDowell  
Richard Mercer  
Brad Osborne  
Kyle Perry  
John M. Swick  

To ensure that the standards of the credit union are maintained, the credit union is examined regularly by the Illinois Department of Financial & Professional Regulation and an independent, certified public accounting firm.

Employees
Name Title
Kerry Fearn President/CEO
Amanda Prater Vice-President of Operations
Kathy C Member Services Rep & Loan Documentation
Julie G Member Services Rep
Gaya Z Member Services Rep
Linda C

Member Services Rep


 

The Mattoon Community Unit #2 Credit Union was formed in 1960 to provide employees of the Mattoon school district a convenient place to save and borrow money. In 1975, the credit union merged with the Charleston Teachers’ Credit Union to form what is now the AREA EDUCATIONAL CREDIT UNION. Within a few years, the Moultrie County Education Credit Union also merged and AECU continued to grow from there.

As of 2020, the credit union serves the employees of 14 area school districts as well as employees of Lake Land College and the Regional Office of Education. The credit union has grown from 20 members in September 1960 to over 2400 members with more than $27 million in assets currently.

The Area Educational Credit Union is owned by the members and governed by them under a charter from the state government.To ensure that the standards of the credit union are maintained, the credit union is examined regularly by the Illinois Department of Financial & Professional Regulations and an independent, certified public accounting firm.