First Citizens
First Citizens Federal Credit Union is a not-for-profit, member-owned cooperative serving individuals, families, and small businesses across six southeastern Massachusetts counties with personal banking, business banking, mortgages, loans, digital banking, and community grant programs.
- Company typePrivate
- Founded1937
- HeadquartersFairhaven, United States
- Headcount51–100
- GTM typeB2B and B2C
- OfferingServices
What First Citizens does
First Citizens Federal Credit Union is a not-for-profit, member-owned financial cooperative headquartered in Fairhaven, Massachusetts. Originally organized as Bristol Credit Union on November 17, 1937, and converted to a federal charter under the name First Citizens' Federal Credit Union in 1987, it serves individuals, families, and small businesses across six southeastern Massachusetts counties: Bristol, Plymouth, Barnstable, Dukes, Nantucket, and Norfolk. Its field of membership covers members who live, worship, work, or attend school within these counties, with the institution operating under NCUA regulation and offering deposits insured up to $250,000 with additional excess coverage from the Massachusetts Credit Union Share Insurance Corporation.
The credit union offers a comprehensive suite of personal and business banking products. Personal banking includes checking, savings, youth savings, term certificates, IRAs, personal loans ($500-$5,000), Mass Save HEAT energy efficiency loans up to $25,000 at 0% interest, mortgage products including home equity, construction, and ADU loans, plus student loan referrals via Sallie Mae. Business banking comprises tiered checking accounts (Free, Plus, High Yield) with corresponding savings and Elite Money Market products. Digital infrastructure includes online banking and a mobile app supporting mobile check deposit, merchant deposit capture for businesses, fingerprint/Face ID authentication, and integrated bill pay. Additional services encompass Visa debit cards, foreign currency exchange via Currency Exchange International, and the Banzai-powered financial wellness and classroom education platform. Two wholly-owned subsidiaries, First Citizens' Insurance Agency and Coastal Outsourced Solutions, extend the franchise into insurance and outsourced financial services.
The business model is structured around net interest income from a diversified loan portfolio, supplemented by fee-based services including account maintenance, transaction fees, loan processing, and out-of-network ATM charges ($7.50 contact center payment processing fee). As a cooperative, excess earnings are returned to members via better rates and lower fees relative to for-profit competitors. Distribution combines a multi-branch physical network across the service area, online and mobile channels, a surcharge-free ATM network through SUM Network and shared branching, and community engagement via Relationship Support Advocates and The CREW volunteer team. Community investment programs include Individual Investment Grants up to $3,000 for education and career advancement and Charitable Foundation grants of $1,000-$5,000 for registered 501c3 nonprofits. Marketing emphasizes community events, financial education partnerships, organic social media, and email newsletters rather than paid acquisition.
First Citizens firmographics
Firmographics- Name
- First Citizens
- Legal name
- First Citizens Federal Credit Union
- Website
- https://firstcitizens.org
- Company type
- Private
- Founded year
- 1937
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- First Citizens Federal Credit Union is a not-for-profit, member-owned cooperative serving individuals, families, and small businesses across six southeastern Massachusetts counties with personal banking, business banking, mortgages, loans, digital banking, and community grant programs.
- Ownership category
- akta.pro rank
First Citizens industry classification
Industry- Product category
- Community Banking
- NAICS
- Credit Unions (522130), Credit Unions (52213)
- SIC
- Savings Institution, Federally Chartered (6035)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
Keywords
Where First Citizens is headquartered
LocationHeadquarters
- HQ city
- Fairhaven
- HQ country
- United States
- HQ region
- North America
Offices10 records
Markets served
First Citizens business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Interest Income: Credit union generates revenue primarily through interest earned on loans including personal loans, mortgages, student loans, and business loans. As a not-for-profit institution, excess earnings are returned to members through better rates on loans and savings products.
- Fee-based Services: Various fee-based services including account maintenance, transaction fees, loan processing, and ATM usage for out-of-network transactions. Contact center payment processing fee of $7.50 for phone payments.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | Personal Loan - Unsecured loan for various purposes |
| Other | Monthly | Mass Save HEAT Loan - Energy efficient home upgrades |
| Other | Monthly | Collateral Loan - Secured by savings or CD |
| Subscription | Monthly | Free Business Checking |
| Subscription | Monthly | Business Checking Plus |
| Subscription | Monthly | High Yield Business Checking |
Go-to-market motion1 record
Distribution channels6 records
Marketing channels7 records
First Citizens product offering
Product offeringCore offering
First Citizens Federal Credit Union is a not-for-profit, member-owned community credit union providing personal and business banking products — checking, savings, youth savings, term certificates, IRAs, personal loans, mortgages, home equity and ADU loans, student loan referrals, business checking and savings, and Visa debit cards — distributed through physical branches in southeastern Massachusetts combined with online and mobile banking channels. The institution complements its financial products with community programs including charitable foundation grants, individual investment grants, and free financial wellness education through the Banzai platform.
Product overview
First Citizens Federal Credit Union operates as a single credit union (not a platform-plus-modules architecture) offering a comprehensive suite of personal and business banking products. Personal banking includes Checking, Savings, Youth Savings, Term Certificates & IRAs, Personal Loans (including Mass Save HEAT Loans), Mortgages (first-time buyer programs, home equity, construction, ADU loans), and Student Loans through Sallie Mae partnership. Business banking encompasses Checking (Free, Plus, High Yield tiers) and Savings (Statement, Savings Plus, Elite Money Market) products. Digital banking is provided through Online Banking and Mobile Banking platforms with 24/7 access. Community-focused offerings include Individual Investment Grants and Nonprofit Grants through the Charitable Foundation, plus Financial Education via Banzai partnership. Additional services include Foreign Currency Exchange and Visa Debit Cards with surcharge-free ATM access.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking
Companies that use First Citizens
Customer profileNamed customers2 records
Segments5 records
Ideal customer profiles5 records
First Citizens technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration7 records
Feature3 records
First Citizens partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core.
- BanzaicorePartnership with Banzai to provide free financial wellness program to community members. Includes interactive courses, articles, and coaches for financial education. Banzai for Education brings online financial literacy program to educators and students for free. Programs available in English and Spanish, with accessibility features for vision-impaired users.
- Sallie MaecorePartnership with Sallie Mae for student loan products. First Citizens refers members to Sallie Mae for higher education loans including undergraduate and graduate student loans, with competitive rates, multiple repayment options, and no origination fees or prepayment penalties. First Citizens receives compensation for referrals.
- Mass SavecorePartnership with Mass Save collaborative of Massachusetts utilities for energy efficiency loans. Offers HEAT Loans up to $25,000 at 0% interest for energy efficient home upgrades and Micro Heat Loans up to $2,000 for heating, cooling, and hot water heater replacements.
Scale indicators4 records
Recent moves6 records
Expansion highlights5 records
First Citizens competitors and assessment
Company assessmentBroad incumbents
- Digital Federal Credit Union (DCU): Large Massachusetts-based credit union with a digital-first platform, broader membership, and national ATM network. Comparable in core credit-union model but considerably larger scale and more digital-native.
- Ally Bank: Digital-first national bank offering competitive deposit and loan products without a physical branch network. Represents the fintech/online competitor pressuring community credit unions on price and convenience.
Regional players
- Rockland Trust (Independent Bank Corp): Massachusetts-based community bank with a dense branch network across southeastern MA including Cape Cod and the Islands. Comparable field-of-membership geography and full-service consumer/SMB banking model.
- HarborOne Bank: Community bank headquartered in Brockton, MA serving southeastern Massachusetts and Rhode Island with consumer and small business banking. Directly comparable in geography, customer base (community retail), and product suite (deposits, mortgages, business banking).
Direct peers
- BayCoast Bank: Mutual community bank headquartered in southeastern Massachusetts (Swansea/New Bedford area) offering consumer and business banking, mortgages, and wealth services. Overlaps directly with First Citizens' service territory and member demographic.
- Jeanne D'Arc Credit Union: Massachusetts community credit union serving the Greater Lowell area and Merrimack Valley with consumer, mortgage, and business banking. Directly comparable cooperative structure, member-focused model, and credit-union product suite.
- Bristol County Savings Bank: Mutual savings bank serving Bristol County and surrounding southeastern MA communities with full consumer and business banking. Closest geographic and product-line competitor, also mutual/cooperative in structure.
- St. Anne's Credit Union: Massachusetts-based community credit union serving Fall River and surrounding communities with personal and business banking. Same geographic region and credit-union cooperative model as First Citizens.
- RTN Federal Credit Union: Massachusetts community credit union serving Waltham, Brookline, and surrounding communities with consumer and small business products. Closely comparable cooperative credit union operating model and product scope.
Others
- Sallie Mae: Student loan partner of First Citizens and a major provider of higher education financing. Included as an ecosystem partner/adjacent rather than direct competitor, illustrating the dependency risk in the partnership.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
First Citizens social profiles
Digital presenceFirst Citizens compliance and trust
Trust signalCompliance3 records
First Citizens financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Citizens leadership team
Management profileNumber of profiles
Profiles8 records
First Citizens subsidiaries and ownership
Company hierarchySubsidiaries2 records
First Citizens funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Citizens 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 Citizens
What does First Citizens do?
First Citizens Federal Credit Union is a not-for-profit, member-owned community credit union providing personal and business banking products — checking, savings, youth savings, term certificates, IRAs, personal loans, mortgages, home equity and ADU loans, student loan referrals, business checking and savings, and Visa debit cards — distributed through physical branches in southeastern Massachusetts combined with online and mobile banking channels. The institution complements its financial products with community programs including charitable foundation grants, individual investment grants, and free financial wellness education through the Banzai platform.
Is First Citizens a public or private company?
First Citizens is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was First Citizens founded?
First Citizens was founded in 1937. It employs 51 to 100 people.
Where is First Citizens based?
First Citizens is headquartered in Fairhaven, United States, in the North America region.
How does First Citizens make money?
Two revenue lines are on record. Interest Income is the primary driver. The others are fee-based Services.
Who are First Citizens's main competitors?
Broad incumbents on record are Digital Federal Credit Union (DCU) and Ally Bank. Regional players are Rockland Trust (Independent Bank Corp) and HarborOne Bank. Direct peers are BayCoast Bank, Jeanne D'Arc Credit Union, Bristol County Savings Bank, St. Anne's Credit Union and RTN Federal Credit Union. Sallie Mae is listed as an others.
Does First Citizens have an API?
No public API is recorded for First Citizens.
What industry is First Citizens in?
First Citizens's product category is Community Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus). Its NAICS code is 522130 and its SIC code is 6035.