Community 1st Credit Union

What Community 1st Credit Union does

Community 1st Credit Union (C1st) is a federally chartered, not-for-profit financial cooperative founded in 1936 and headquartered in Ottumwa, Iowa. It serves individual consumers, families, small businesses, and agricultural operations across 57 counties in southern Iowa and 14 counties in northern Missouri, holding nearly $1 billion in combined assets and serving more than 65,000 members through 21 full-service branches and 71 total locations including ATMs, with access to 1,300 SHAZAM Privileged Status surcharge-free ATMs throughout Iowa. The cooperative's core banking platform combines physical branches with a digital banking suite featuring a mobile app, online account opening, mobile deposit, BillPayer, e-statements, Visa Secure e-commerce authentication, digital wallet support (Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay), 24-hour telephone banking, and the SavvyMoney credit-monitoring add-on. As a not-for-profit cooperative, C1st is exempt from federal corporate income tax and returns earnings to members through higher savings rates (3.55% APY on 60-month CDs, 1.75% APY on Money Market), lower loan rates (auto loans from 4.59% APR, mortgages around 5.75-6.27% APR), and reduced fees. The credit union is federally insured by the NCUA, classified as well-capitalized, and recognized as #1 Credit Union in Iowa by Forbes (2023), USA TODAY America's Best Customer Service in Financial Services (2026), and #1 Ag Lender in Iowa.

The credit union generates revenue primarily through net interest income from its lending portfolio (auto, personal, mortgage, home equity, recreational vehicle, student, business, and agricultural loans), supplemented by interchange income from Visa debit (processed via SHAZAM since at least 2023) and credit cards (issued through Elan Card Services since 2018), plus fee income from overdraft services, treasury/cash management, and ancillary lines. Distribution combines physical branch banking with self-serve digital channels, alongside insurance products through a TruStage partnership and investment services through a referral relationship with LPL Financial. Marketing and growth center on community engagement: the C1st Foundation (established 2016, housed within the Iowa Credit Union Foundation since May 2025), the Youth Heifer Program (interest-free agricultural loans to youth members), more than $500,000 in scholarships over the last decade, and a CDFI Fund grant from the U.S. Department of Treasury underscore a community-development model rather than a digital-first or AI-native approach.

Growth has been driven primarily by acquisition: C1st completed three credit union mergers (Nishna Valley in October 2021, HomeTown in March 2022, and Town & Country in December 2024), alongside new branch construction in Osceola (2021) and Shenandoah (2022). Management is led by President and CEO Greg Hanshaw, with Senior Vice Presidents spanning Retail Operations, Consumer Lending and Governmental Affairs, and Marketing, supported by 250+ employees across branches and headquarters.

Name

Community 1st Credit Union

Legal name

Community 1st Credit Union

Website

https://c1stcreditunion.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

101–250 employees

Short description

Community 1st Credit Union is a federally chartered, not-for-profit financial cooperative serving more than 65,000 individual, small-business, and agricultural members across southern Iowa and northern Missouri through 21 branches and digital banking. It generates revenue via net interest income from lending plus interchange and fee income, reinvesting earnings into member rates.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending products
• Agricultural lending
• Credit union deposits
• Mortgage and HELOC

Headquarters

HQ city

Ottumwa

HQ country

United States

HQ region

North America

Offices21 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 credit union generates revenue primarily through interest collected on various loan products including auto loans, personal loans, mortgages, home equity loans, credit cards, business loans, and agricultural loans. Interest rates vary by product with examples including auto loans as low as 4.59% APR and personal loans as low as 9.99% APR.
2. Fee Income: The credit union charges various fees including overdraft protection services, service fees (listed on Service Fees page), and transaction fees. Fee schedules are publicly disclosed on the website.
3. Interchange Revenue: Revenue generated from debit and credit card transactions including interchange fees from merchant processing when members use C1st cards for purchases.
4. Investment and Savings Products: Revenue from investment services, certificates of deposit, money market accounts, and IRA products offered to members. Certificate rates include 3.55% APY for 60-month terms.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Community 1st Credit Union is a member-owned, not-for-profit financial cooperative that provides consumer and business banking products including checking and savings accounts, certificates of deposit, auto/personal/student/home equity/mortgage loans, credit cards, agricultural and commercial lending, investment services, and insurance. Members access these products through 21 physical branches, digital and mobile banking, and a regional ATM network across southern Iowa and northern Missouri.

Product overview

Community 1st Credit Union offers a comprehensive suite of financial products and services as a not-for-profit cooperative serving members across Iowa. The core banking platform includes multiple checking account options (C1st Rewards Checking with interest/cashback rewards, Personal Checking, Overdraft Services), savings products (Share Savings, ClubGo, Dollar Dog children's accounts, Money Market, Certificates), and loan products (Vehicle Loans, Personal Loans, Student Loans, Home Equity Loans, FLEX HELOC, Mortgages via Your Local Mortgage Connection, Signature Rewards and Business Credit Cards). The Digital Banking platform serves as the primary digital channel, integrating online banking, mobile app, BillPayer, Mobile Deposit, and Digital Wallet support for Apple Pay/Google Pay/Samsung Pay. Value-added services include Investment Services through LPL Financial, TruStage Insurance, SavvyMoney credit monitoring, Financial Education, Fraud Prevention, and ChargeUp wellness programs. Business and Agriculture services encompass Business Loans, Agriculture Loans (making C1st the #1 Ag Lender in Iowa), Business Checking, and Cash Management. Community programs include the C1st Foundation, Scholarship Program, Youth Heifer Program, YouthMAX, and Dollar Dog children's savings program. The product architecture operates as a unified credit union service model rather than modular platform-addon structure.

Differentiator

Problem solved

Functional benefit

Brands

• C1st Foundation: The charitable foundation of Community 1st Credit Union, focused on education, community betterment, and supporting activities that involve members and employees. Established in 2016.

Products and services

• C1st Rewards Checking Rewards checking account offering members a choice between earning higher interest or receiving increased cash back on debit card purchases when monthly qualifications are met, with unlimited ATM fee refunds and no minimum balance requirement. Targeted at consumer members seeking everyday banking with rewards.
• Personal Checking Standard personal checking account options including Your Voice checking and ClubGo for members seeking traditional checking services.
• Share Savings Basic savings account that establishes membership with a $5 minimum deposit and earns competitive rates; complemented by 60-Month Certificate Account at 3.55% APY and Money Market Account at 1.75% APY.
• ClubGo Savings Savings club account offering 1.00% APY with rewards and incentives for members who meet savings goals, targeted at members building savings habits.
• Vehicle Loans Auto loans for new and used vehicles with rates as low as 4.59% APR, available to consumer members.
• Boat, RV, and Travel Trailer Loans Recreational vehicle loans as low as 7.69% APR for boats, RVs, and travel trailers, available to consumer members.
• Personal Loans Unsecured personal loans as low as 9.99% APR for various personal financial needs.
• Student Loans and Student Loan Refinance Education financing options for undergraduate and graduate students with competitive rates, plus refinancing options for existing student loans to lower rates or simplify payments.
• Home Equity Loans Home equity financing allowing members to borrow against home value for major expenses, renovations, or debt consolidation.
• FLEX Home Equity Line of Credit (HELOC) Variable-rate HELOC allowing members to access home equity as needed for customizable borrowing flexibility for home improvements and other needs.
• Mortgage Loans Home purchase financing through Your Local Mortgage Connection, including 15-Year Fixed (5.750% rate, 5.945% APR), 10/1 ARM (6.125% rate, 6.271% APR), and 30-Year Fixed (5.875% rate, 5.991% APR) options.
• Signature Rewards Credit Card Visa credit card offering points or cash back rewards on purchases for consumer members.
• Business Loans Commercial lending products for business growth, equipment financing, working capital, and expansion targeted at local small businesses.
• Agriculture Loans Specialized lending for farmers and agricultural operations, including the Youth Heifer Program, positioning Community 1st as the #1 Ag Lender in Iowa.
• Business Checking Commercial checking accounts with features tailored for business financial management, targeted at small businesses and agricultural operations.
• Business Credit Card Credit card designed for business expenses with tools for tracking business spending, offered through Elan Card Services.
• Investment Services Financial advisory services through partnership with LPL Financial for retirement planning, IRAs, and investment products.
• TruStage Insurance Insurance products including life, auto, home, and health insurance offered through the TruStage partnership.
• Digital Banking Platform Comprehensive online and mobile banking platform providing 24/7 access to account management, transfers, eStatements, BillPayer, mobile deposit, and account alerts via web and the C1st Mobile App.
• Dollar Dog Youth Savings Children's savings program for kids 12 and under featuring the Dollar Dog mascot, doggie dollar rewards, and special activities during Youth Month promotions to encourage early savings habits.

Quantifiable outcome

• $2.6 million in Rewards Checking incentives paid to members in 2025
• +3 more outcomes

Named customers6 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

Integration13 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Iowa Credit Union FoundationcoreStrategic or Co-development Partner · 22 April 2026Partnership to administer the C1st Scholarship Program. ICUF facilitates scholarship funding and provides Warren A. Morrow Memorial Scholarships. Community 1st also partners with ICUF to house its charitable C1st Foundation since May 2025.
• Iowa Credit Union FoundationcoreStrategic or Co-development Partner · 8 May 2025C1st Foundation transitioned to be housed within ICUF, marking an exciting new chapter for the charitable foundation that has made a difference across Iowa communities since 2016.
• Single Source Architects & Master BuildersminorImplementation/ SI/ Consulting Partner · 24 October 2024General contractor for construction of new Osceola branch facility. Single Source has partnered with several financial institutions in the Midwest to build new facilities.
• SHAZAMcoreTechnology or Integration · 8 August 2023Partnership for debit card processing and Visa Secure enhanced security authentication. SHAZAM Privileged Status provides members access to 1,300 surcharge-free ATMs in Iowa. C1st holds Privileged Status designation from SHAZAM.
• Elan Card ServicescoreTechnology or IntegrationPartnership since 2018 for credit card services. Elan's Charitable Giving Campaign selected C1st to receive $12,500 donation for charity of choice. C1st partnered with Elan to donate to Food Bank of Iowa.
• Kick It ForwardminorStrategic or Co-development PartnerC1st Foundation serving as presenting sponsor of Mini-Pitch Project in Osceola with $50,000 grant to create inclusive, all-ages soccer space. Check presentation held March 17, 2026.
• Greater Cedar Rapids Community FoundationminorOthersC1st grant-funded project awards are made possible through the C1st Credit Union Impact Giving Fund of the Greater Cedar Rapids Community Foundation.

Scale indicators13 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Alliant Credit Union: Large national digital-first credit union offering consumer deposit, lending, and credit card products across the U.S. Represents the larger, broader-scope incumbent against which Community 1st competes for digitally native members in its footprint.
• Connexus Credit Union: Wisconsin-headquartered credit union operating a national digital member base alongside select physical locations. Comparable product menu (checking, savings, mortgages, auto, digital banking) and competing for the same retail and small-business deposit pool.

Direct peers

• GreenState Credit Union: Iowa-based credit union with a much larger member base and asset footprint, serving many of the same Iowa communities. Operates the same retail banking, lending, and digital platform model, making it the most directly comparable Iowa-headquartered peer.
• Affinity Plus Federal Credit Union: Minnesota-based member-owned credit union of similar asset size offering comparable consumer lending, mortgages, and digital banking services. Direct peer on size, cooperative structure, and Midwestern community-banking positioning.
• Dupaco Community Credit Union: Dubuque, Iowa-headquartered community credit union offering deposit accounts, loans, digital banking, and financial wellness services. Operates the same member-owned cooperative model in an overlapping Iowa market, making it a direct mid-size peer.
• Great Lakes Credit Union: Illinois-based community credit union offering similar checking, savings, auto, mortgage, and digital banking products to a comparable member demographic. Closely matched in scale and product set to Community 1st.
• University of Iowa Community Credit Union (UICCU): Iowa City-based community credit union serving members across Iowa with retail banking, mortgage, and commercial lending products. Similar cooperative structure and Iowa field of membership, competing for the same consumer and small-business customers.
• Veridian Credit Union: Waterloo, Iowa-based member-owned credit union serving eastern Iowa with similar checking, savings, lending, and mortgage products. Comparable cooperative model and field-of-membership approach in an adjacent Iowa geography.

Emerging players

• Northwest Bank and Trust Company: Iowa-based community bank offering consumer and agricultural lending in overlapping Midwestern markets. Comparable ag-lending focus and small-business banking relationships, providing a non-credit-union but functionally similar competitor.
• Midwest Heritage Bank: Iowa-based community bank serving southern Iowa with consumer, business, and ag banking products. Direct overlap with Community 1st's geographic and product footprint, especially in agricultural lending.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Community1stCU
• YouTubeyoutube.com/user/Community1stCU
• Facebookfacebook.com/c1stcu
• LinkedInlinkedin.com/company/community-1st-credit-union
• Instagraminstagram.com/community1stcu

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Community 1st Credit Union