“I’m a Midland native, and I’m proud of that,” Iafrate said. “I’m proud to still be here, raising a family and investing in the community that helped shape me.”

After graduating from Midland High and earning her degree from Northwood University, Iafrate began her career in financial services with a marketing role at Chemical Bank and Trust. Her background in accounting and finance combined with marketing gave her a unique perspective on both the analytical and creative sides of the industry.

 

But she credits much of her path to mentorship and community connections.

“I had mentors at Midland High who helped guide me to Northwood, and mentors at Northwood who helped me land my first job,” she said. “Mentorship and community played a huge role in where I am today.”

After two years in banking, another mentor encouraged her to consider an opportunity at Members First Credit Union. The mission and philosophy of the credit union movement immediately resonated.

“I was looking for alignment between my personal values and the organization I worked for,” she said. “When the opportunity came up at the credit union, it felt like the right place.”

That decision came nearly 25 years ago.

 

 

When Iafrate joined Members First, the credit union had roughly 40 employees, two branches in Midland, and about $100 million in assets.

Today the organization has grown to more than 240 employees, 11 branches, over 67,000 members, and nearly $900 million in assets.

“I’ve had the privilege of being part of that entire journey,” she said.

For Iafrate, those numbers represent far more than growth. They represent families, businesses, and employees whose lives are connected to the organization.

“When we talk about 240 employees, we are really talking about 240 families,” she said. “And when we say 67,000 members, those are families and businesses across our communities who trust us with their financial future.”

Now entering her fifth year as CEO, she continues to build on the leadership and mentorship she experienced earlier in her career.

 

 

At the heart of Members First Credit Union is a culture centered on service and authenticity.

“Our uniqueness is our genuineness,” Iafrate said.

Internally, the organization refers to itself as the M1 Community. Employees come from diverse backgrounds, but they share a common purpose of serving others. The credit union’s core values of being trustworthy, caring, and enthusiastic were developed by the team itself and continue to guide the organization today.

That culture also shapes how Members First serves its members. Every team member is certified as a financial counselor, ensuring that members receive guidance and support throughout their financial journey.

“People come through our doors sometimes having a really tough time,” Iafrate said. “Our job is to sit with them, hear their story, and help them move forward.”

 

 

Members First Credit Union’s broader vision is centered on creating thriving communities. Iafrate believes this work happens through collaboration with partners across the region.

“We know we cannot do it alone,” she said. “Businesses, nonprofits, education, and community organizations all have to work together.”

The credit union focuses its community investments on three primary areas: housing, education, and overall well-being. Collaborative initiatives are an important part of that effort. Last fall, Members First Credit Union’s 240+ team members volunteered their time during a Day of Impact, partnering with 22 local nonprofits to make a meaningful difference through meal packing, donation sorting, and green space restoration.

 

 

As Members First Credit Union continues to grow, Iafrate remains focused on thoughtful expansion and investment. The credit union recently completed a branch remodel in Saginaw and is preparing to break ground on a new Bay City location along Wilder Road.

“We want to serve our members wherever they are,” she said.

With branches across the state and a new location coming to Bay City, Members First continues to grow its ability to support members and strengthen the communities it calls home.

For Iafrate, the most meaningful measure of success is trust. Recently, the credit union achieved its highest Net Promoter Score of 78 and has been recognized nationally as one of the Best Credit Unions to Work For by American Banker.

“To me, what matters most is that the values we talk about are showing through,” she said.

After nearly a quarter century with the organization, Iafrate remains deeply connected to the mission that first drew her to the credit union movement.

“It’s about people helping people,” she said. “And when you see that happening every day with your team, your members, and your community, it’s incredibly meaningful.”