First Alliance Credit Union
First Alliance Credit Union is a member-owned, NCUA-insured cooperative founded in 1932 in Rochester, Minnesota, serving consumers, families, and small businesses across 14 Southeast Minnesota counties through seven branches, a mobile branch, and full digital banking.
- Company typePrivate
- Founded1932
- HeadquartersRochester, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What First Alliance Credit Union does
First Alliance Credit Union is a member-owned, federally insured (NCUA) cooperative financial institution founded in 1932 and headquartered in Rochester, Minnesota. It serves consumers, families, and small businesses across 14 Southeast Minnesota counties (Olmsted, Dodge, Goodhue, Wabasha, Winona, Blue Earth, Fillmore, Freeborn, Le Sueur, Mower, Nicollet, Rice, Steele, and Waseca) through a distribution network of seven physical branches in Rochester, Byron, Stewartville, and Lake City, supplemented by a Mobile Branch serving Owatonna weekly and full digital banking channels (online banking, iOS/Android mobile app, virtual appointments, and online account opening via MeridianLink). Membership is acquired through field-of-membership eligibility, family relationships with existing members, and community events.
The credit union's product platform covers the full retail banking stack: deposit products (Share Savings at 0.20% APY, Checking at 0.10% APY, Money Market, Advantage Money Market at 1.10% APY, WINcentive prize-linked Savings at 0.30% APY, Certificates of Deposit, Subshare Savings); lending products (auto, personal, mortgage, home equity, manufactured home, business, and credit builder); and three Mastercard credit card variants (uChoose Rewards, Platinum, Classic) all carrying no annual fees. Supplementary offerings include GAP insurance, extended warranties, debt protection plans, and a Greenlight co-branded youth debit card with parental controls. The technology stack is composed primarily of vendor integrations (Zelle for P2P, Plaid for instant account verification, Apple Pay/Google Pay for wallet funding, MoneyPass for ATM access, Calendly for appointment scheduling, Revation for live chat, and a real-time fraud-scoring engine) layered on top of a standard credit union core banking platform.
The business model follows the standard credit union revenue structure: net interest income from loans is the primary revenue stream, supplemented by transaction and service fees (overdraft, ATM, late payment, cash advance, balance transfer) and ancillary income from insurance products attached to auto loans. The institution reports 11-50 employees, does not publicly disclose revenue, and is not a target for institutional investment given its cooperative ownership structure. Distribution is regional and multi-channel, with a strong community engagement layer (blog, 'Good Money Moves' podcast, YouTube, TikTok, Facebook, Instagram, LinkedIn, X, and a Member Stories page) that reinforces the local-market value proposition.
First Alliance Credit Union firmographics
Firmographics- Name
- First Alliance Credit Union
- Legal name
- First Alliance Credit Union
- Website
- https://firstalliancecu.com
- Company type
- Private
- Founded year
- 1932
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- First Alliance Credit Union is a member-owned, NCUA-insured cooperative founded in 1932 in Rochester, Minnesota, serving consumers, families, and small businesses across 14 Southeast Minnesota counties through seven branches, a mobile branch, and full digital banking.
- Ownership category
- akta.pro rank
First Alliance Credit Union industry classification
Industry- Product category
- Retail Banking
- NAICS
- Credit Unions (52213), Credit Unions (522130), Credit Card Issuing (522210)
- SIC
- Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
- akta.pro secondary industries
- Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)
Keywords
Where First Alliance Credit Union is headquartered
LocationHeadquarters
- HQ city
- Rochester
- HQ country
- United States
- HQ region
- North America
Offices8 records
Markets served
First Alliance Credit Union business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Interest Income from Loans: Primary revenue source from auto loans, personal loans, mortgages, home equity loans, credit cards, and business loans. Interest is charged on outstanding balances at varying APRs based on creditworthiness and loan type.
- Fee Income: Revenue from various banking fees including late payment fees, ATM fees, overdraft fees, and account service fees. Also includes fees for credit cards such as cash advance fees and balance transfer fees.
- Deposit Account Fees: Revenue from minimum balance fees on accounts that fall below required thresholds, such as the Money Market account requiring $2,000 minimum balance to earn dividends and avoid fees.
- Insurance Products: GAP insurance (Guaranteed Asset Protection) offered to auto loan borrowers, plus extended warranties available for vehicle protection.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Share Savings Account |
| Subscription | Monthly | WINcentive Savings |
| Subscription | Monthly | Checking Account |
| Subscription | Monthly | Money Market Account |
| Subscription | Monthly | Advantage Money Market |
| Unit Pricing | Monthly | Auto Loans |
| Transaction based/ take rate | Monthly | Credit Cards - Rewards (uChoose) |
| Transaction based/ take rate | Monthly | Credit Cards - Platinum |
| Transaction based/ take rate | Monthly | Credit Cards - Classic |
Go-to-market motion1 record
Distribution channels7 records
Marketing channels10 records
First Alliance Credit Union product offering
Product offeringCore offering
First Alliance Credit Union is a member-owned, not-for-profit cooperative providing deposit accounts (Share Savings, Checking, Money Market, Certificate of Deposit, Advantage Money Market, WINcentive Savings, and Subshare Savings), consumer and commercial loans (auto, personal, mortgage, home equity, manufactured home, business, and credit-builder), and three Mastercard credit card variants (uChoose Rewards, Platinum, and Classic). Services are distributed to members across Southeast Minnesota through seven physical branches, a mobile branch, online and mobile banking channels, and virtual appointments with dedicated real estate/mortgage and business lending teams.
Product overview
First Alliance Credit Union operates as a member-owned financial institution serving southeast Minnesota, offering a comprehensive suite of banking and lending products. The portfolio centers on deposit accounts (Share Savings, Checking, Money Market, Certificate of Deposit, Advantage Money Market, WINcentive Savings, and Subshare Savings) alongside lending products (Auto Loans, Personal Loans, Mortgages, Home Equity Loans, Manufactured Home Loans, Business Banking, and Credit Builder Loan). The credit card lineup includes three Mastercard variants — uChoose Rewards, Platinum, and Classic — targeting members from credit-building to established credit stages. Digital services include Online & Mobile Banking with Zelle integration, a Greenlight co-branded youth debit card, and Advisor Supported Kiosks at branches. Supplementary offerings such as GAP Insurance, Extended Warranties, and Debt Protection are available to members who finance vehicles or take out loans. The institution's products are distributed through seven physical branch locations in southeast Minnesota, a Mobile Branch, an online membership application powered by MeridianLink, and digital banking platforms.
Differentiator
Problem solved
Functional benefit
Products and services
- Share Savings Account Foundational savings account that establishes credit union membership for individual consumers; requires a $5.00 minimum deposit and earns a competitive APY.
- Checking Account Day-to-day transactional banking account for individual members, with APY, eStatement delivery, and integration into the credit union's online and mobile banking platforms.
- Money Market Account Tiered savings account for members, where higher balances earn higher dividends; requires a $2,000 minimum balance to earn dividends and avoid fees.
- Certificate of Deposit Fixed-term deposit product offering competitive rates and guaranteed returns over a specified maturity period for individual members.
- Auto Loans Vehicle financing for new and used cars, boats, and other motorized vehicles, with competitive interest rates and flexible term options.
- Personal Loans Unsecured installment loans for individual members, used for debt consolidation, unexpected expenses, and major purchases.
- Mastercard Credit Cards (uChoose Rewards, Platinum, Classic) Three no-annual-fee Mastercard credit card variants — uChoose Rewards (points redeemable for cash back, travel, gift cards), Platinum (lowest APR), and Classic (designed to build or rebuild credit) — serving individual members at multiple credit stages.
- Home Equity Loans Loans that leverage the equity in a member's home, used for renovations, debt consolidation, or other large purchases.
- Mortgages Home purchase financing for individual members, supported by a dedicated Real Estate and Mortgage Lending Team and LoanSphere Servicing Digital for existing loan servicing.
- Manufactured Home Loans Specialized financing for manufactured or mobile homes, addressing the unique needs of this category of housing.
- Business Banking Business checking, savings, and lending products designed for small businesses and commercial members in Southeast Minnesota, supported by a dedicated Business Lending Team.
- Online and Mobile Banking Digital banking platform enabling members to manage accounts, pay loans, transfer funds, send money via Zelle, deposit checks, and access financial tools from any device, including native iOS and Android apps.
Quantifiable outcome
- Multiple APY tiers for savings accounts (0.20% Share Savings, 0.30% WINcentive Savings, 1.10% Advantage Money Market)
Companies that use First Alliance Credit Union
Customer profileSegments3 records
Ideal customer profiles3 records
First Alliance Credit Union technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration9 records
Feature6 records
First Alliance Credit Union partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- GreenlightcoreFirst Alliance Credit Union partnered with Greenlight to offer a debit card and money app designed specifically for kids. The partnership enables parents to give children their own debit cards with parental controls, teaching kids financial responsibility while allowing parents to monitor spending and set allowances. The Greenlight app integration allows families to manage finances together through the credit union's youth banking offerings.
- MeridianLinkcoreFirst Alliance uses MeridianLink's digital banking platform for online account opening and membership applications. The platform enables new members to apply for accounts, verify identity, upload documents, and complete funding entirely digitally through the XA Mobile application system.
- MoneyPassminorMoneyPass ATM network provides First Alliance members with access to surcharge-free ATMs across the country. Members can use the MoneyPass ATM locator to find nearby fee-free cash access points.
- ZellecoreFirst Alliance Credit Union offers Zelle integration allowing members to send money quickly and securely to friends and family directly from their checking accounts through online and mobile banking.
Scale indicators1 record
Recent moves6 records
Expansion highlights5 records
First Alliance Credit Union competitors and assessment
Company assessmentDirect peers
- TopLine Federal Credit Union: Twin Cities-area credit union serving Minnesota residents with comparable checking, savings, lending, and credit card products; direct peer in member-owned retail banking.
- Mayo Employees Federal Credit Union: Rochester, MN-based credit union serving Mayo Clinic employees and broader community; directly comparable as a community credit union operating in First Alliance's core Rochester market.
- Affinity Plus Federal Credit Union: Minnesota-based member-owned credit union offering similar deposit, lending, and credit card products to consumers across the state; directly comparable cooperative business model and product set.
- Hiway Federal Credit Union: Minnesota-headquartered credit union offering consumer deposits, auto loans, mortgages, and credit cards to a defined membership; closely comparable in product mix and cooperative structure.
- SPIRE Federal Credit Union: Minnesota-based community credit union with full retail banking, lending, and business banking products; comparable in geographic footprint, product breadth, and member-owned model.
- Wings Financial Credit Union: Minnesota-based credit union serving a broad membership with deposits, consumer lending, mortgages, and credit cards; comparable retail cooperative model and regional scale.
Emerging players
- Alliant Credit Union: National online credit union offering high-yield deposits, lending, and credit cards without geographic restrictions; emerging digital-first competitor that pressures First Alliance's deposit pricing and member acquisition in the digital channel.
- Discover: Direct-to-consumer credit card issuer with no-annual-fee rewards and cash-back products that competes with First Alliance's uChoose Rewards and Platinum Mastercard offerings on rewards and digital UX.
Broad incumbents
- U.S. Bank: Minneapolis-headquartered national bank with extensive Minnesota retail branch presence and full banking/lending/credit card suite; broad incumbent competitor offering similar products at scale.
- Bremer Bank: Minnesota-headquartered regional bank with branches across the state including Southeast Minnesota; broad incumbent offering comparable retail and small-business banking products.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
First Alliance Credit Union social profiles
Digital presenceFirst Alliance Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Alliance Credit Union leadership team
Management profileNumber of profiles
Profiles2 records
First Alliance Credit Union funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Alliance 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 Alliance Credit Union
What does First Alliance Credit Union do?
First Alliance Credit Union is a member-owned, not-for-profit cooperative providing deposit accounts (Share Savings, Checking, Money Market, Certificate of Deposit, Advantage Money Market, WINcentive Savings, and Subshare Savings), consumer and commercial loans (auto, personal, mortgage, home equity, manufactured home, business, and credit-builder), and three Mastercard credit card variants (uChoose Rewards, Platinum, and Classic). Services are distributed to members across Southeast Minnesota through seven physical branches, a mobile branch, online and mobile banking channels, and virtual appointments with dedicated real estate/mortgage and business lending teams.
Is First Alliance Credit Union a public or private company?
First Alliance Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was First Alliance Credit Union founded?
First Alliance Credit Union was founded in 1932. It employs 11 to 50 people.
Where is First Alliance Credit Union based?
First Alliance Credit Union is headquartered in Rochester, United States, in the North America region.
How does First Alliance Credit Union make money?
Four revenue lines are on record. Interest Income from Loans are the primary driver. The others are fee Income, deposit Account Fees and insurance Products.
Who are First Alliance Credit Union's main competitors?
Direct peers on record are TopLine Federal Credit Union, Mayo Employees Federal Credit Union, Affinity Plus Federal Credit Union, Hiway Federal Credit Union, SPIRE Federal Credit Union and Wings Financial Credit Union. Emerging players are Alliant Credit Union and Discover. Broad incumbents are U.S. Bank and Bremer Bank.
Does First Alliance Credit Union have an API?
No public API is recorded for First Alliance Credit Union.
What industry is First Alliance Credit Union in?
First Alliance Credit Union's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus), with a secondary code of FSABAEAF, Cooperative Banks (Member-Owned Commercial/Retail). Its NAICS code is 52213 and its SIC code is 6035.