ANCHORAGE, Alaska–The Alaska Division of Banking and Securities is planning to approve the merger of Credit Union 1 and MAC Federal Credit Union, which posted a loss at year-end, the agency said in a public notice.
The two credit unions announced in 2025 they were seeking to combine, but Alaska state law required a review. Credit Union 1 is Alaska’s only state-chartered credit union, which gives the state primary authority over its operations. All of Alaska’s other credit unions are federally chartered.
The $1.5-billion CU1 has almost 100,000 members and 16 branches. It finished 2025 with $15.7 million in net income.
Based in Fairbanks
The $174-million MAC FCU, which is based in Fairbanks, has approximately 20,000 members. It closed 2025 with a loss of $536,587 and net worth of 11.30%.
MAC Federal Credit Union is based in the Fairbanks area and has about 20,000 members, according to figures provided with the merger announcement last year. It opened branches in the Matanuska-Susitna Borough starting five years ago, marking its first expansion outside the Fairbanks area, according to the CU.
