Members First Credit Union

What Members First Credit Union does

Members First Credit Union of New Hampshire is a federally chartered, not-for-profit, member-owned cooperative founded in 1949 by Manchester firefighter John Walsh. It operates three branches across the Greater Manchester area (Salmon Street, Union Street, and Bedford) and serves individuals, families, and small businesses within a New Hampshire-restricted field of membership covering state residents, workers, and students. Members hold shares in the institution and elect its leadership under cooperative governance, with Courtney Fifield serving as CEO.

Core products span consumer and small-business banking: personal and business checking, savings, certificates of deposit, money market accounts, IRAs, home loans, consumer loans, and business lending. Deposits are NCUA-insured up to the standard federal limit and enhanced to $500,000 per member through an Excess Share Insurance (ESI) partnership, a positioning lever aimed at larger commercial and higher-balance consumer deposits. Distribution extends beyond the three owned branches via participation in the Allpoint surcharge-free ATM network (~74,000 terminals) and the CO-OP shared branching network (~6,000 locations), effectively multiplying physical reach without proportionate branch capital expenditure.

The technology stack is being actively modernized: a NextGen digital banking platform and an Ember chatbot were launched in 2026, and SavvyMoney personal financial management tools were integrated in September 2025. The business model follows standard credit union economics — net interest margin on the loan-to-deposit book, supplemented by deposit and loan fees — with any surplus returned to members as better rates, lower fees, or community programs such as Illuminating Change rather than distributed as profit. The institution competes primarily on local service, cooperative ownership, and digital convenience within its NH-defined membership perimeter.

Name

Members First Credit Union

Legal name

Members First Credit Union

Website

https://membersfirstnh.org

Company type

Private

Founded year

1949

Operating status

Operating

Headcount range

11–50 employees

Short description

Members First Credit Union is a federally chartered, member-owned cooperative founded in 1949, operating three branches in Greater Manchester, NH. It provides consumer and small-business banking, deposits, loans, and digital services to NH residents, workers, and students.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage products
• Credit union deposits
• Digital banking

Headquarters

HQ city

Manchester

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: The primary revenue stream comes from interest earned on various loan products including home loans, auto loans, consumer loans, home equity products, and business loans. As a not-for-profit credit union, interest collected is returned to members through competitive rates on loans and deposits.
2. Deposit Account Fees and Services: Revenue generated from various deposit account services, overdraft services, and account-related fees. The credit union offers checking, savings, certificates, money market, and retirement (IRA) accounts.
3. Digital Banking Services: Revenue from digital banking services including online banking, mobile banking apps, and associated tools that enhance member experience and engagement.
4. Insurance and Financial Products: Referral and partnership revenue from insurance products (vehicle, homeowner, personal insurance) and financial products offered through partnerships.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

Members First Credit Union is a not-for-profit, member-owned financial cooperative offering a full suite of banking products including personal and business checking/savings, certificates, money market, IRAs, mortgages, home equity, auto, consumer, and commercial loans. It also provides digital banking via NextGen Online & Mobile Banking, video chat, ATM access, insurance referrals, and financial education resources to individuals, families, and small businesses in New Hampshire.

Product overview

Members First Credit Union is a full-service financial institution offering a comprehensive suite of banking products and digital services. The core banking platform includes Personal and Business Checking/Savings, Certificates, Money Market, and Retirement (IRA) accounts. Lending products span Home Loans (Home Equity, Fixed Rate Mortgage, Construction, ARM, HomeReady, Land, Manufactured Homes), Consumer Loans (Auto, Recreational Vehicle, Personal, Student, Credit Builder, Credit Card), and Business Lending (Commercial, Business Loans). Digital banking capabilities center on NextGen Online Banking, Mobile Banking, and Video Chat. The product portfolio also includes add-on services like SavvyMoney credit monitoring, CardValet debit card control, and Purchase Rewards. Financial education is supported through Move Forward Academy and a comprehensive calculators suite. Community engagement is delivered via the Illuminating Change program supporting local nonprofits.

Differentiator

Problem solved

Functional benefit

Brands

• Illuminating Change: Community impact initiative supporting nonprofit organizations through financial contributions, long-term partnerships, and strategic storytelling.
• Ember
• Move Forward Academy
• First Pay

Products and services

• Personal Checking Checking account products for individual members, including overdraft services and direct deposit options like First Pay (up to 2 days early).
• Business Checking Checking accounts designed for business members with tailored features for business financial management.
• Personal Savings Savings accounts for individuals including Regular & Club Savings, Youth Accounts, and Health Savings Accounts.
• Certificates Certificate of Deposit products with competitive rates for term savings.
• Money Market Money market savings accounts offering higher yields with check-writing privileges.
• Retirement (IRAs) Individual Retirement Account products including Traditional and Roth IRAs for retirement savings with potential tax benefits.
• Home Equity Line of Credit Variable rate HELOC allowing homeowners to access equity as needed, pay only for what they use, with flexible principal payments anytime. No application fees, no closing costs, appraisal fees refunded at closing.
• Home Equity Loan Fixed-rate, fixed-term loan for borrowing a set amount upfront with set monthly payments. Terms up to 180 months. No closing costs on qualifying properties.
• Fixed Rate Mortgage Traditional fixed-rate mortgages including No Down Payment Mortgage, No Points No Closing Costs Mortgage, and SuperFlex Mortgage options.
• Construction Loan Home construction financing for building new homes with interim construction-to-permanent financing.
• Adjustable Rate Mortgage ARM products with rates that adjust based on market conditions after initial fixed period.
• HomeReady Mortgage Affordable mortgage product designed for low-to-moderate income borrowers with flexible underwriting guidelines.
• Auto Loans Vehicle financing for new and used cars with competitive rates. Existing member and non-member application options available.
• Auto Loan Refinance My-Fi Rewards program for refinancing existing auto loans to potentially lower rates.
• Recreational Vehicle Loans Financing for RVs, boats, and other recreational vehicles.
• Personal Loans Unsecured loans for personal use including debt consolidation, home improvements, and major purchases.
• Student Loans Education financing for members pursuing higher education.
• Credit Builder Loan Loan designed to help members establish or rebuild credit by making fixed payments.
• Consumer Credit Card MasterCard debit card with chip-enabled security, mobile payments, fraud protection, purchase rewards, and identity theft alerts.
• Commercial Lending Commercial loan products for business real estate, equipment, and working capital needs.
• Business Loans Various business financing options including term loans and lines of credit for small businesses.
• Online Banking Web-based banking platform with bill payer, external transfers, money management, e-statements, and account monitoring. NextGen upgrade in 2026.
• Mobile Banking Smartphone banking app for account access, transfers, bill payment, and card management on iOS and Android.
• Video Chat Banking Remote video consultation service for members to meet with banking staff virtually.
• Vehicle Insurance Insurance products for automobiles through partner providers.
• Homeowners Insurance Insurance products for homeowners through partner providers.
• Personal Insurance Personal insurance products including life, umbrella, and other personal coverage.
• Illuminating Change Community Program Community impact initiative supporting local nonprofits through financial contributions, partnerships, and storytelling. Includes Beacon Partner and Spotlight Partner programs with quarterly donations.

Quantifiable outcome

• Deposit insurance coverage up to $500,000 (double standard coverage)
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability3 records

Feature5 records

Partnerships

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

• American Heart Association - New HampshirecoreStrategic or Co-development Partner · 23 February 2026American Heart Association New Hampshire was the February 2026 Illuminating Change Beacon Partner. The organization works to build longer, healthier lives through fighting heart disease and stroke. MFCU spotlighted AHA's local efforts in cardiovascular health education, research support, and community wellness programs during American Heart Month.
• WaypointflagshipStrategic or Co-development Partner · 12 February 2026Waypoint serves as the Q1 2026 Illuminating Change Spotlight Partner. Members First provides $2,500 donation along with marketing amplification, storytelling support, and community engagement. The partnership focuses on supporting Waypoint's work with children, families, and individuals experiencing housing instability. CEO Courtney Fifield serves on Waypoint's Board of Directors. MFCU also supports Waypoint's SleepOut event and Artist in Residency Program.
• Granite State GenerositycoreStrategic or Co-development Partner · 5 January 2026Granite State Generosity (GSG) serves as the January 2026 Illuminating Change Beacon Partner. This 100% volunteer-run nonprofit supports NH individuals and families facing disability or life-threatening illness by covering essential expenses not paid by insurance. MFCU provides a $1,000 unrestricted donation and marketing support to amplify GSG's grassroots mission.
• Liberty House NHcoreStrategic or Co-development Partner · 6 July 2024Liberty House NH was the July 2024 Illuminating Change Spotlight Partner. This nonprofit provides substance-free housing and community support for homeless and struggling veterans through a 4-step program focused on recovery, wellness, employment, and independent living. MFCU raised awareness and support for Liberty House's mission serving veterans in New Hampshire.
• CO-OP Shared Branch NetworkcoreChannel Partner/ Reseller/ DistributorCO-OP Shared Branch network provides Members First members access to 6,000 shared branches nationwide where they can make deposits, transfers, and account inquiries with person-to-person assistance. Mobile app available through CO-OP for ATM and branch location services.
• Allpoint NetworkcoreChannel Partner/ Reseller/ DistributorAllpoint partnership provides access to 74,000 surcharge-free ATMs nationwide. Members First debit cards work at Allpoint ATMs at retail locations with no surcharge fees.
• Excess Share Insurance (ESI)coreStrategic or Co-development PartnerESI partnership provides Members First members with enhanced deposit insurance coverage of $500,000 - double the standard NCUA $250,000 limit. This added protection differentiates MFCU from most credit unions and provides superior member security.
• MeridianLinkcoreTechnology or IntegrationMeridianLink provides the mortgage application platform (app.mortgage.meridianlink.com) used by Members First for home equity loans, mortgages, and equity applications. Members can apply online and track application status through this integrated platform.
• The PLUS CompanyminorStrategic or Co-development PartnerThe PLUS Company was featured through the Illuminating Change program in December 2023. This nonprofit serves over 400 adults with disabilities in Southern New Hampshire and Greater Merrimack Valley, MA, empowering independence through customized support and services.
• The Moore CenterminorStrategic or Co-development PartnerThe Moore Center was spotlighted through the Illuminating Change program in March 2024. This nonprofit provides person-centered services to individuals with developmental/intellectual disabilities and acquired brain disorders in Manchester, NH, with over 50 years of service.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Cambridge Savings Bank: Massachusetts community bank with consumer and business banking, lending, and mortgage products. Indirectly competes with MFCU for the Manchester-area / southern NH commuter customer.
• Eastern Bank: Large Massachusetts-based community bank offering consumer and business banking, mortgages, and digital services. Broader incumbent that competes for the same southern NH / greater Boston commuter-belt customer base.
• Digital Federal Credit Union (DCU): Large New England-headquartered credit union offering full banking, lending, and digital services to a broader field of membership. Broader-incumbent peer with materially larger scale and a deeper digital platform that competes for the same NH-area customers.
• Workers Credit Union: Massachusetts-based community credit union with NH-adjacent reach, offering checking, mortgages, and consumer lending. Comparable product mix and community orientation, with greater scale and a wider geographic footprint.

Emerging players

• Chime: Digital-first consumer banking platform offering fee-free checking, early direct deposit, and a national member base. Emerging digital competitor targeting the same mobile-first, balance-sensitive demographic in MFCU's footprint.

Direct peers

• Service Credit Union: New Hampshire-based credit union serving members across the state and military community with checking, lending, mortgages, and digital banking. Direct NH-market peer with overlapping member geography and a comparable full-service product suite.
• St. Mary's Bank Credit Union: Manchester, NH-based community credit union offering deposits, mortgages, consumer loans, and business banking. Most direct local competitor given shared Manchester footprint and similar community focus.
• Triangle Credit Union: New Hampshire credit union providing personal and business banking, mortgages, and digital channels. Direct NH-market peer competing for the same retail and small-business segments.
• Bellwether Community Credit Union: New Hampshire community credit union offering personal banking, mortgages, and member services. Closely comparable in size, scope, and community-credit-union positioning within the NH market.
• Granite State Credit Union: New Hampshire-based community credit union providing checking, savings, loans, and digital banking to NH residents. Direct geographic peer with overlapping membership eligibility rules.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCslCr0mKwygxv8mP-KvMeXQ
• Facebookfacebook.com/MFCUNH
• LinkedInlinkedin.com/company/members-first-credit-union-nh
• Instagraminstagram.com/mfcunh

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Members First Credit Union