First Miami Student Credit Union became a reality in 1988 when it was founded and established by visionary students who were members of Associated Student Government (ASG) including Randi Thomas, Jeff Carpenter, and Mike Thomas. The credit union began as an initiative of ASG; the origin stemmed from the need for a financial institution on campus to serve the students.
To illustrate the dedication that these students had, ASG elects donated their office space which would become the original location of First Miami in 117 Shriver Center until our recent move to 2011 Armstrong Center in 2014. Financial support from the university soon followed as Ed Demske, Miami University’s Chief Financial Officer, contributed $98,000 to aid in credit union operations.
Since its founding, First Miami has become a thriving financial institution that provides all of the products and services one can expect from any other financial institutions. The Credit Union’s current asset base of $500,000 fluctuates depending on the season and the demand of its primary users, students.
First Miami has evolved into a student credit union focused on educating its members about financial issues and ways in which students can build good credit.