First Financial Credit Union

What First Financial Credit Union does

First Financial Credit Union is a member-owned, not-for-profit financial cooperative founded in 1937 in New Mexico and headquartered in Albuquerque. The credit union serves individual consumers, small and medium businesses, non-profits, and over 200 Select Employer Group (SEG) partner companies across the state, offering a full suite of deposit products (Kasasa-branded checking, savings, money market, CDs, IRAs), lending products (auto loans starting at 4.67% APR, mortgages with promotions up to 1% below market, HELOCs, credit cards via Mastercard Platinum Rewards and Gold Preferred, personal and student loans), and business banking (business checking, commercial real estate loans, SBA loans, lines of credit, commercial vehicle loans). Revenue is generated through net interest spread on lending, overdraft and transaction fees ($28 per overdraft event), and partnership income from insurance and payment services.

Distribution is anchored by 16 physical branches across New Mexico (Albuquerque headquarters, Cherry Hills, Rio Rancho, Farmington, Portales, Silver City, Deming) supplemented by a CO-OP shared branching network providing access to 5,000+ branches nationwide, and a CU Anytime ATM network providing 30,000+ surcharge-free ATMs and 9,000+ deposit locations. The digital banking platform includes online banking, mobile banking with remote deposit capture, external account-to-account transfers (capped at $2,000/day and $5,000/month), Zelle payments, and automated telephone banking. A text-and-email based fraud alert system, deployed June 2025, uses anomaly detection on card transactions to enable real-time member confirmation.

The credit union is differentiated from for-profit banks by its cooperative ownership structure, NCUA-insured deposits up to $250,000, member-elected volunteer board governance, and earnings returned to members via lower loan rates and higher savings yields (Kasasa Cash checking up to 5.05% APY). Strategic positioning includes a planned merger with Southwest Federal Credit Union announced December 18, 2024, which would push combined assets past $1 billion, an Inclusiv Juntos Avanzamos designation for serving underserved communities, WCAG 2.2 Level AA web accessibility certification, and a track record of 7 consecutive years as an Albuquerque Journal Top Workplace and Family Friendly Business Platinum award recipient.

Name

First Financial Credit Union

Legal name

First Financial Credit Union

Website

https://ffnm.org

Company type

Private

Founded year

1937

Operating status

Operating

Headcount range

101–250 employees

Short description

First Financial Credit Union is a member-owned, NCUA-insured credit union founded in 1937 in Albuquerque, New Mexico, serving consumers, small businesses, non-profits, and over 200 Select Employer Group partners across 16 branches and a nationwide shared branching and ATM network with $1B+ assets post-merger.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Card Issuing (522210), Commercial Banking (52211)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Consumer banking services
• Credit union lending
• Personal deposit accounts
• Small business banking
• Mortgage and auto loans

Headquarters

HQ city

Albuquerque

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: First Financial Credit Union generates revenue primarily through interest earned on loans including auto loans, home mortgages, home equity loans, personal loans, business loans, and credit cards. As a credit union, earnings are returned to members in the form of lower interest rates on loans and higher rates on savings.
2. Overdraft and Fee Income: The credit union charges overdraft fees of $28.00 per occurrence for standard overdraft practices. Additional fee income comes from various account service charges, wire transfers, and other banking services.
3. Deposit-Taking and Interest Spread: As a credit union, First Financial accepts deposits from members (checking, savings, CDs, IRAs) and pays dividends. Revenue is generated from the spread between interest earned on loans and interest paid on deposits.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

First Financial Credit Union is a member-owned, not-for-profit financial cooperative offering consumer and business banking products including Kasasa-branded checking and savings accounts, Mastercard credit cards, auto loans, mortgages, HELOCs, and personal loans, plus small business banking services (business checking, SBA loans, commercial real estate loans, cash management). Distribution is supported by 16 branches across New Mexico, a digital banking platform (online and mobile), and nationwide shared branching (5,000+ branches) and surcharge-free ATM networks (30,000+ locations).

Product overview

First Financial Credit Union is a full-service financial institution offering a comprehensive suite of consumer and business banking products. The core offering centers on deposit accounts (Kasasa-branded checking and savings products including Kasasa Cash, Kasasa Cash Back, Kasasa Tunes, Kasasa Saver) and lending products (auto loans, home mortgages, HELOCs, credit cards via Mastercard). Digital banking is delivered through Online Banking, Mobile Banking with Mobile Deposit, and Text/Email Fraud Alerts. The institution extends its reach through CO-OP Shared Branching (5,000+ branches nationwide) and surcharge-free ATM networks (30,000+ locations). Business services include checking accounts, commercial real estate loans, SBA loans, and SEG (Select Employer Group) partnerships. Ancillary services include TruStage Insurance, Financial Wellness Programs, and Kasasa Protect identity protection. The credit union operates 16 branches across New Mexico with $1 billion+ in combined assets following its merger with Southwest Federal Credit Union.

Differentiator

Problem solved

Functional benefit

Products and services

• Kasasa Cash Checking

Quantifiable outcome

• Awarded Top Places to Work by Albuquerque Journal for 7 consecutive years
• +5 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• Southwest Federal Credit UnionflagshipStrategic or Co-development PartnerTwo New Mexico-based credit unions announced a planned merger in December 2024. The merger would increase combined assets to over $1 billion, creating a significantly larger credit union serving New Mexico communities.
• CO-OP Financial ServicescoreTechnology or IntegrationPartnership with CO-OP provides access to 5,000+ shared branching locations in all 50 states and over 2,000 self-service locations. Members can use the CO-OP locator and network for seamless in-person banking nationwide.
• CU AnytimecoreTechnology or IntegrationPartnership with CU Anytime network provides access to 30,000+ surcharge-free ATMs nationwide and 9,000+ deposit locations. Members use the CU Anytime online locator to find network ATMs.
• Junior Achievement of New MexicominorStrategic or Co-development PartnerFFCU volunteers provide financial literacy education to students. FFCU's Jonathan Sorsabal recruited 5 new volunteers and helped bring programs to over 150 students. Partnership supports workplace financial education initiatives.
• United WayminorStrategic or Co-development PartnerFFCU employees volunteer with United Way for Reality Check Day events, helping young people learn about adult responsibilities, graduation commitment, financial literacy, and career exploration.
• Eastern New Mexico University (ENMU)minorStrategic or Co-development PartnerFirst Financial sponsors ENMU athletics and student-athletes, including sponsorship of the men's and women's basketball programs and celebration of memorable moments on the court.
• New Mexico UnitedminorStrategic or Co-development PartnerFirst Financial participates as a sponsor at New Mexico United soccer games and events, including the Black and Yellow Bash celebration. Supports local professional sports and community engagement.
• KasasacoreTechnology or IntegrationPartnership with Kasasa provides branded products including Kasasa Cash checking, Kasasa Cash Back, Kasasa Tunes, Kasasa Saver, and Kasasa Protect. Kasasa also provides the FirstBranch website platform technology. Includes joint 'Best Day Ever' kindness initiative.
• Inclusiv (Juntos Avanzamos)minorStrategic or Co-development PartnerFirst Financial was designated as a Juntos Avanzamos credit union by Inclusiv, demonstrating commitment to economic empowerment and ensuring everyone can participate in the financial system regardless of background, income, education, or nationality.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• SchoolsFirst Federal Credit Union: Large community-based credit union with a defined membership field. Comparable in member-owned structure, comprehensive product suite, and community focus.
• Rio Grande Credit Union: New Mexico community credit union providing consumer and business banking products. Comparable in scale, member-owned structure, and local focus.
• Southwest Federal Credit Union: New Mexico-based credit union announced for merger with FFCU. Direct peer in product offering, NM geography, and community-banking model.
• DCU (Digital Federal Credit Union): Large community credit union offering consumer deposits, lending, and digital banking. Comparable as a non-regional credit-union operator investing in digital channels while maintaining a member-owned model.
• Sandia Area Federal Credit Union: Large New Mexico community credit union headquartered in Albuquerque, offering consumer deposits, lending, and business banking. Most directly comparable peer given overlapping NM footprint and similar product suite.
• Nusenda Credit Union: New Mexico-based member-owned credit union serving consumer and business members statewide. Directly comparable peer operating the same product categories (deposits, mortgages, auto loans, business banking) in overlapping geography.

Broad incumbents

• Bank of Albuquerque (BOK Financial): Major commercial bank operating in the Albuquerque market. Comparable on consumer and business banking products but as a much larger for-profit incumbent competing for the same NM member base.
• WaFd Bank (Washington Federal): Regional commercial bank with branch presence in the Western U.S. Overlaps with FFCU on consumer deposits, mortgages, and small-business banking, but operates as a for-profit publicly traded bank.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/imafirst
• Instagraminstagram.com/imafirst
• Xx.com/imafirst1

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about First Financial Credit Union