First Central Credit Union
First Central Credit Union is a community-chartered, not-for-profit credit union founded in 1937 in Waco, Texas, serving 20,000+ members across Central Texas with personal and business banking, consumer and mortgage lending, credit cards, and insurance and investment partnerships.
- Company typePrivate
- Founded1937
- HeadquartersWoodway, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What First Central Credit Union does
First Central Credit Union is a community-chartered, not-for-profit financial cooperative founded in 1937 (originally as Waco Telco Credit Union by 14 Southwestern Bell Telephone employees) and headquartered in Waco/Woodway, Texas. It operates under Texas state law with regulatory oversight from the Texas Credit Union Department and the National Credit Union Administration (NCUA), holds NMLS #779833 for mortgage lending, is CDFI-certified by the U.S. Department of the Treasury, and carries a Juntos Avanzamos designation (since 2006) for service to the Hispanic community. The institution serves 20,000+ members across 18+ Central Texas counties (McLennan, Hill, Brown and surrounding counties) with $151M+ in assets, operating five branch locations (Waco main office on Sanger Ave, Waco/Chapel Road, Bellmead, Brownwood, Hillsboro) supplemented by Interactive Teller Machines, Kasasa-powered FirstLink online and mobile banking (iOS/Android) with remote deposit capture, FirstTeller phone banking, MessagePay text payments, and access to 30,000+ surcharge-free CO-OP ATMs.
The product portfolio spans personal and business deposit accounts (Kasasa Cash/Cash Back, InControl, Prestige, New Beginnings, Share Savings, Money Market, Share Certificates, IRAs, business checking/savings); consumer and commercial lending (auto, recreational vehicle, farm equipment, home equity, mortgages including FHA/VA/USDA via Member First Mortgage, personal loans, InstaCash small-dollar loans, Saver Loans, business loans, land mortgages, and pre-owned vehicle sales); Visa credit and debit cards; and ancillary services including investment advisory through Cambridge Investment Research and ClearVista Financial, TruStage-branded insurance (auto, home, life, AD&D), GAP and Mechanical Repair Coverage, and Trust & Will estate planning. Member-facing technology is largely delivered through third-party platforms — Kasasa (digital banking and reward checking), Mobicint (loan origination), Paytrace (loan payments), CUDL AutoSmart (auto shopping), FMSI (branch performance and scheduling), LendKey (student loans), AudioEye (accessibility), and route-based partners — rather than built in-house.
Revenue mechanics are those of a standard community credit union: net interest income on the loan book (auto, mortgage, home equity, personal, business, and credit card lending) is the primary stream, supplemented by fee income (overdraft, wire transfers at $20 domestic, safe deposit boxes $17.50–$55 annually, notary at $6/page, check ordering, ATM-related fees), debit/credit interchange, and commission-based affiliate referral revenue from TruStage insurance and Cambridge/ClearVista investment products. Distribution is direct-to-consumer through physical branches, digital channels, ITMs, phone, and text banking, supplemented by Select Employee Group (SEG) partnerships with Central Texas employers for membership recruitment and consumer education. Go-to-market is community- and relationship-led, emphasizing local decision-making, bilingual services, financial education, and product breadth rather than technology differentiation.
First Central Credit Union firmographics
Firmographics- Name
- First Central Credit Union
- Legal name
- First Central Credit Union
- Website
- https://firstcentralcu.com
- Company type
- Private
- Founded year
- 1937
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- First Central Credit Union is a community-chartered, not-for-profit credit union founded in 1937 in Waco, Texas, serving 20,000+ members across Central Texas with personal and business banking, consumer and mortgage lending, credit cards, and insurance and investment partnerships.
- Ownership category
- akta.pro rank
First Central Credit Union industry classification
Industry- Product category
- Credit Union Banking Services
- NAICS
- Credit Unions (522130)
- SIC
- Commercial Banks, Nec (6029), Personal Credit Institutions (6141)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
- akta.pro secondary industries
- Credit Cards & Revolving Credit (FSABAAAC), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)
Keywords
Where First Central Credit Union is headquartered
LocationHeadquarters
- HQ city
- Woodway
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
First Central Credit Union business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Interest Income on Loans: Primary revenue stream from interest charged on various loan products including auto loans, home mortgages, home equity loans, personal loans, business loans, and credit cards. Interest rates vary by creditworthiness and loan type.
- Fee Income: Various service fees including overdraft fees (with one annual courtesy reversal), wire transfer fees ($20 domestic), safe deposit box rental, notary services ($6 per page), check ordering, and ATM-related fees. Overdraft privilege program with annual fee reversal option.
- Interchange Income: Debit and credit card transaction interchange fees from Visa credit and debit card usage by members.
- Insurance Products Partnership: Commission revenue from TruStage insurance products offered to members including auto, home, life, and AD&D insurance through partnership with TruStage Insurance Agency and CMFG Life Insurance Company.
- Investment Services Partnership: Commission and referral revenue from Cambridge Investment Research and ClearVista Financial for investment products including stocks, bonds, mutual funds, annuities, and retirement planning services.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Kasasa Cash Checking - Earn up to 5.00% APY on balances up to $10,000 with qualifying activities |
| Unit Pricing | Monthly | Share Savings - Basic savings account with 0.35% APY |
| Subscription | Monthly | New Auto Loans - Rates from 4.54% to 17.45% APR depending on term and creditworthiness |
| Subscription | Monthly | Home Equity Loans - 1st lien rates from 5.55% to 12.35% APR depending on term |
| Unit Pricing | Annual | Share Certificates - Terms from 13 to 25 months with rates up to 3.70% APY |
| Subscription | Monthly | Visa Credit Cards - Rates from 8.90% intro APR to 18.00% based on creditworthiness |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels6 records
First Central Credit Union product offering
Product offeringCore offering
First Central Credit Union is a member-owned not-for-profit credit union providing retail and commercial banking services across Central Texas. Its core offerings include personal and business deposit accounts (checking, savings, money market, share certificates, IRAs), consumer and commercial lending (auto, mortgage, home equity, personal, business), Visa credit and debit cards, digital banking channels, and supplementary financial services such as insurance, investment advisory, and estate planning through partner providers.
Product overview
First Central Credit Union offers a comprehensive suite of financial products and services primarily serving Central Texas communities. The institution operates as a full-service credit union with a portfolio of personal and business checking/savings accounts (including Kasasa-branded reward checking and savings products), consumer and mortgage lending (auto, home equity, personal loans, and mortgages), business banking, and supplementary services including investment advisory through Cambridge/ClearVista, TruStage insurance, and Trust & Will estate planning. Digital banking capabilities include online and mobile banking with remote deposit capture, ITMs, and FirstTeller phone banking. The product architecture is organized as a unified credit union service offering with multiple product categories spanning deposit accounts, lending, insurance, investments, and digital banking services.
Differentiator
Problem solved
Functional benefit
Brands
- Kasasa: Branded consumer banking products including Kasasa Cash (rewards checking), Kasasa Cash Back, and Kasasa Saver offered by First Central Credit Union.
- FirstLink
- LIFT Program
- Holiday Helper
- InstaCash
Products and services
- Personal Checking Accounts
- Personal Savings Accounts
- Business Checking and Savings
- Visa Credit Cards
- Debit Cards
- Digital Banking (FirstLink)
- Mobile Banking with Remote Deposit
- Auto Loans
- Home Mortgages
- Home Equity Loans
- Open Door Mortgages
- Personal Loans
- Recreational Vehicle Loans
- Farm Equipment Loans
- Business Loans
- Investment Services
- TruStage Insurance
- GAP Insurance
- Mechanical Repair Coverage
- Trust & Will Estate Planning
- Interactive Teller Machines (ITMs)
- FirstTeller Phone Banking
- MessagePay Text Banking
- Pre-Owned Vehicle Sales
Companies that use First Central Credit Union
Customer profileNamed customers3 records
Segments6 records
Ideal customer profiles4 records
First Central Credit Union technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration13 records
AI capability4 records
Feature5 records
First Central Credit Union partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and secondary.
- FMSIcoreFMSI provides branch performance and workforce management software to First Central Credit Union. The platform offers appointment scheduling, lobby management, staff scheduling, and analytics tools to help branch teams improve performance and customer relationships. First Central onboarded as a new client following FMSI's relaunch as an independent company in late 2025.
- TruStage Insurance AgencycoreTruStage offers insurance products made available to members including auto insurance, home insurance, life insurance (term and whole life), accidental death and dismemberment (AD&D) coverage, and investment programs. Products underwritten by CMFG Life Insurance Company and other leading insurance companies.
- Cambridge Investment Research, Inc.coreProvides investment services to members through Financial Consultant Mark Trice. Services include stocks, bonds, mutual funds, annuities, retirement planning, IRAs, 529 College Savings Plans, and managed brokerage services. Cambridge is a Registered Investment Advisor and Broker Dealer, Member FINRA/SIPC.
- ClearVista FinancialsecondaryInvestment advisory services partner providing free retirement investment reviews and guidance on State benefit and retirement programs to First Central members.
- KasasacoreKasasa provides the marketing brand for reward checking account products including Kasasa Cash (earning up to 5.00% APY) and Kasasa Cash Back. The platform also powers the website accessibility certification through FIRSTBranch by Kasasa.
- CUDL Auto Smart (Auto Buying Central)secondaryAuto buying platform that helps members search for new and pre-owned vehicles, find dealers, and obtain financing through First Central Credit Union.
- CO-OP Credit Union ATM NetworkcoreProvides access to over 30,000 surcharge-free ATMs nationwide for First Central members, enabling convenient cash access without fees throughout the US.
- Member First MortgagecorePartner mortgage lender providing additional mortgage products including FHA loans, VA loans, USDA loans, and manufactured home financing through First Central's Mortgage Web Center. First Central NMLS# 779833; Member First Mortgage NMLS# 149532.
- Route 66 (Extended Warranty Claims)secondaryThird-party administrator processing extended warranty claims for Mechanical Repair Coverage on vehicle protection plans offered to members. Contact: 800-808-0828.
- Trust & WillsecondaryOnline estate planning platform partnership offering members 20% discount on customized, legally binding estate plans. Features fast online platform completing plans in 30 minutes with expert support.
- Joint Marketing PartnerssecondaryFinancial services companies involved in joint marketing arrangements for investment, insurance, and other financial products and services to members.
- AudioEyesecondaryThird-party provider of web accessibility testing and monitoring for the First Central website, certifying compliance with WCAG 2.2 Level AA standards.
Scale indicators7 records
Recent moves12 records
Expansion highlights5 records
First Central Credit Union competitors and assessment
Company assessmentBroad incumbents
- Security Service Federal Credit Union: San Antonio-headquartered credit union with Texas-wide footprint including consumer lending, mortgages, business banking, and digital services. Comparable full-service credit union model serving Texas consumers with overlapping product categories.
- Randolph-Brooks Federal Credit Union: One of the largest credit unions in Texas, serving members across the state including Central Texas with full-service consumer and business banking. Comparable product suite (deposits, lending, mortgages, digital) but operates at much greater scale and broader geographic reach.
Others
- Cornerstone Credit Union League: Trade association and service organization serving Texas and other state credit unions including regulatory advocacy, operational support, and the Juntos Avanzamos designation program. Adjacent ecosystem participant rather than direct competitor.
- Kasasa: Technology and marketing partner providing the consumer rewards checking platform (Kasasa Cash, Kasasa Cash Back) used by First Central and hundreds of other community financial institutions. Adjacent enabler rather than a competitor.
Direct peers
- Texell Credit Union: Texas-headquartered community credit union with consumer and business banking, mortgages, and digital services. Comparable mid-sized credit union structure and product portfolio.
- InTouch Credit Union: Texas-based credit union with community charter serving consumers across multiple Texas counties including deposit accounts, lending, mortgages, and digital banking. Comparable multi-county Texas community credit union model.
- Credit Union of Texas: Dallas-based community-chartered credit union serving Texas consumers and businesses with deposits, lending, and digital banking. Comparable credit union cooperative structure with similar product mix, though serving a different Texas region.
Regional players
- University Federal Credit Union: Texas-based credit union serving Central Texas including the Austin, Waco, and Hill Country regions with consumer and business banking. Highly comparable geographic and demographic focus to First Central, though with substantially larger scale.
- Amplify Credit Union: Texas-based community-chartered credit union serving Central Texas including Austin-area with consumer banking, lending, and digital services. Direct competitor for members in overlapping Central Texas markets.
- Cooperative Teachers Credit Union: Texas credit union serving educators and Central Texas communities with consumer banking, lending, and investment services. Comparable community-charter focus with similar deposit and loan products.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
First Central Credit Union social profiles
Digital presenceFirst Central Credit Union compliance and trust
Trust signalCompliance5 records
First Central Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Central Credit Union leadership team
Management profileNumber of profiles
Profiles2 records
First Central Credit Union funding detail
Funding detailFunding overview
Funding rounds1 record
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Central Credit Union M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Central Credit Union
What does First Central Credit Union do?
First Central Credit Union is a member-owned not-for-profit credit union providing retail and commercial banking services across Central Texas. Its core offerings include personal and business deposit accounts (checking, savings, money market, share certificates, IRAs), consumer and commercial lending (auto, mortgage, home equity, personal, business), Visa credit and debit cards, digital banking channels, and supplementary financial services such as insurance, investment advisory, and estate planning through partner providers.
Is First Central Credit Union a public or private company?
First Central Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was First Central Credit Union founded?
First Central Credit Union was founded in 1937. It employs 11 to 50 people.
Where is First Central Credit Union based?
First Central Credit Union is headquartered in Woodway, United States, in the North America region.
How does First Central Credit Union make money?
Five revenue lines are on record. Interest Income on Loans are the primary driver. The others are fee Income, interchange Income, insurance Products Partnership and investment Services Partnership.
Who are First Central Credit Union's main competitors?
Broad incumbents on record are Security Service Federal Credit Union and Randolph-Brooks Federal Credit Union. Others are Cornerstone Credit Union League and Kasasa. Direct peers are Texell Credit Union, InTouch Credit Union and Credit Union of Texas. Regional players are University Federal Credit Union, Amplify Credit Union and Cooperative Teachers Credit Union.
Does First Central Credit Union have an API?
No public API is recorded for First Central Credit Union.
What industry is First Central Credit Union in?
First Central Credit Union's product category is Credit Union Banking Services. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus), with a secondary code of FSABAAAC, Credit Cards & Revolving Credit. Its NAICS code is 522130 and its SIC code is 6029.