Members First Credit Union

What Members First Credit Union does

Members First Credit Union is a member-owned, not-for-profit financial cooperative founded in 1938 as Corpus Christi Telco Credit Union and headquartered in Corpus Christi, Texas. The institution operates four physical branches across South Texas (three in Corpus Christi, one in Harlingen) and is chartered to serve individuals who live or work in Nueces County or Cameron County, as well as their families. Its core product suite spans share savings accounts, money market accounts, certificates and IRAs, free checking (regular, student, and 50-plus variants), Visa credit and debit cards, vehicle loans, mortgages and home equity loans, personal loans, share-secured loans, and small-business checking. The technology layer consists of a web-based online banking platform, the M1st mobile app for iOS and Android (with mobile deposit, card freeze, push notifications, and an ATM locator), integrated Apple Pay, Google Pay, and Samsung Pay wallets, and 24/7 multi-channel fraud alert management; cards are issued instantly in-branch. Operational scale as of 2025 stood at $186.9M in total assets, an $81.3M loan portfolio, $141.5M in member deposits, 12,585 members, and 43 employees, with net income of $2.6M, a 22.81% capital-to-asset ratio, a 0.37% delinquency rate, a 0.42% default rate, and a 1.57% net operating expense ratio well below the 2.63% peer average.

Revenue is generated primarily through net interest income on the loan portfolio (auto loans at 4.95-15.95% APR, mortgages at 5.40-13.50%, home equity at 5.60-13.00%, personal loans at 11.50-17.90%, credit cards at 9.90-17.90%) and a smaller deposit book (share savings 0.250% APY, money market 0.501-1.005%, certificates 3.042-3.557%). Non-interest income sources include transaction fees (wires, cashier's checks, money orders, gift cards, overdraft protection, skip-a-payment), Visa debit and credit card interchange, and referral fees from partnerships with Sallie Mae for student loans and TruStage for insurance. The institution also earns referral economics from GreenPath Financial Wellness and uses NADA (J.D. Power) vehicle valuations to underwrite auto loans. Customer acquisition runs through direct-to-consumer community channels (in-branch, m1st.org, Facebook, LinkedIn, YouTube), a structured referral program offering $10-$150 bonuses, and community sponsorships; distribution is augmented by the 55,000+ Allpoint surcharge-free ATM network.

Name

Members First Credit Union

Legal name

Members First Credit Union

Website

https://m1st.org

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

11–50 employees

Short description

Members First Credit Union is a member-owned, not-for-profit cooperative founded in 1938, serving approximately 12,585 individual and small-business members across South Texas (Nueces and Cameron Counties) through four branches and a digital banking platform offering deposits, consumer loans, mortgages, and credit cards.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

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

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Deposit accounts
• Digital banking

Headquarters

HQ city

Corpus Christi

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on vehicle loans, mortgage loans, home equity loans, personal loans, credit cards, and other secured loans. Loan products include auto loans (4.95%-15.95% APR), first mortgages (5.40%-13.50% APR), home equity (5.60%-13.00% APR), personal loans (11.50%-17.90% APR), and credit cards (9.90%-17.90% APR).
2. Fee Income: Various fee-based services including wire transfers ($15 domestic, $35 international), cashier's checks ($3), money orders ($1), Visa gift cards ($2.50 purchase fee, $10 replacement), ATM convenience fees ($1 for Allpoint ATMs), overdraft protection fees ($25 per transaction), and skip-a-payment fees ($25 per loan).
3. Credit Card Interchange: Revenue from credit card transactions including interchange fees on Visa credit and debit card purchases. Foreign transaction fees of 1% also apply.
4. Partnership Referrals: Referral fees from partnerships with Sallie Mae for student loans and TruStage for insurance products.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Members First Credit Union is a member-owned, not-for-profit financial cooperative that provides retail banking products and services to individuals and small businesses in South Texas. Core offerings include deposit accounts (savings, checking, money market, certificates, IRAs), loan products (auto, mortgage, home equity, personal, secured, share/certificate secured, credit cards), business checking accounts, and digital banking services (online banking, mobile app with mobile deposit, digital wallet integration, e-statements, account notifications). Members also have access to Sallie Mae student loans, TruStage insurance, and GreenPath financial wellness services through referral partnerships.

Product overview

Members First Credit Union offers a comprehensive suite of financial products and services through a traditional branch and digital banking platform. The core offerings include savings products (Regular Savings, Money Market, Kids Club, Secondary Savings), certificate products (Regular Certificate, Grow Up Certificate, IRA Savings/Certificates), and checking accounts (Regular Checking, Student Checking, 50 Plus Checking). Their loan portfolio spans real estate/home equity loans, auto/vehicle loans, personal loans, secured loans, share secured loans, certificate secured loans, and credit cards (Visa Credit Cards and Secured Visa Credit Cards). Digital services include Online Banking, M1st Mobile App, Mobile Deposit, E-Statements, Digital Wallets (Apple Pay, Google Pay, Samsung Pay), Account Notifications, and PayPrompt Text Reminders. Additional services include Business Accounts, Account Services (wire transfers, cashier's checks, money orders), TruStage Insurance products, Loan Protection (Debt Protection, GAP, warranties), GreenPath Financial Wellness counseling, Financial Calculators, Visa Gift Cards, Discount Tickets, and a student loan partnership with Sallie Mae. The credit union also offers specialty products like Change Saver for automated savings and operates a Vehicles for Sale program.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Savings Primary membership savings account requiring a $1.00 minimum deposit to establish credit union membership. No monthly fees; dividends earned on average daily balances of $100 or more at a rate set by the Board quarterly.
• Money Market

Quantifiable outcome

• Net income of $2,643,678 in 2025
• +4 more outcomes

Named customers1 record

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

Six partnerships are on record, tiered core and supportive.

• AllpointcoreTechnology or IntegrationAllpoint is a surcharge-free ATM network providing access to over 55,000 ATMs worldwide. Members First Credit Union joined the Allpoint Network, allowing debit cardholders to access surcharge-free ATMs at major retailers including Target, CVS, Walgreens, Kroger, Speedway, Safeway, Circle K, and Rite Aid. A $1.00 convenience fee may still apply.
• Sallie MaecoreGTM or Marketing PartnerStudent loan partnership offering competitive variable and fixed rate student loans for undergraduate, graduate, professional, and career training students. Products include Smart Option Student Loan, Graduate School Loan, MBA Loan, Medical School Loan, Dental School Loan, Graduate School Loan for Health Professionals, and Law School Loan. No origination fee or prepayment penalty. Members First receives referral compensation from Sallie Mae.
• TruStage InsurancecoreGTM or Marketing PartnerTruStage provides insurance products backed by over 80 years of credit union partnership experience. Products include auto insurance, home insurance, life insurance, and accidental death & dismemberment coverage. TruStage is issued by CMFG Life Insurance Company and MEMBERS Life Insurance Company, with auto and home programs from leading insurance companies.
• GreenPath Financial WellnesssupportiveStrategic or Co-development PartnerGreenPath is a non-profit financial wellness company providing free money management and financial education services to Members First members. Services include personal and family budgeting, credit report understanding, debt repayment, and avoiding bankruptcy, foreclosure and repossession. GreenPath offers free financial coaching to help members achieve financial goals.
• VisacoreTechnology or IntegrationVisa provides credit and debit card processing infrastructure for Members First credit cards and debit cards. Products include Visa Credit Cards with fixed rates, Secured Visa Credit Cards for credit building, and Visa Debit Cards. Features include contactless payments, digital wallet compatibility, zero liability policy, and fraud protection.
• Apple Pay, Google Pay, Samsung PaycoreTechnology or IntegrationDigital wallet integration allowing Members First Visa debit and credit card holders to make contactless payments using Apple Pay (iPhone, Apple Watch, iPad, Mac), Google Pay (Android devices), and Samsung Pay (Samsung Galaxy devices). Cards can be added to digital wallets for in-store, in-app, and online purchases.

Scale indicators17 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Connexus Credit Union: Digital-forward community credit union offering nationwide membership with high-yield deposits, consumer loans, and digital banking. Comparable in deploying digital channels to attract members, though operates at much larger scale.
• Alliant Credit Union: Digital-first community credit union serving members nationwide with online savings, lending, and credit card products. Comparable in offering digital-first banking to defined membership, though at much greater scale and geographic reach.

Direct peers

• Consumers Cooperative Credit Union: Member-owned community credit union offering similar deposit, consumer lending, and digital banking services. Comparable cooperative structure and product breadth for retail/consumer banking members.
• Security Service Federal Credit Union: Large Texas-based federal credit union serving members across the state with a similar full-service product suite (deposits, consumer loans, mortgages, credit cards). Most directly comparable peer given shared Texas footprint and community credit union model.
• Randolph-Brooks Federal Credit Union (RBFCU): Texas-based federal credit union offering a comparable suite of savings, consumer lending, mortgages, and digital banking services. Comparable in operating model (member-owned cooperative) and product breadth, though much larger in scale.
• First Community Credit Union (Texas): Texas community credit union serving Nueces County and surrounding areas with deposits, loans, and digital banking. Most direct geographic peer with overlapping Corpus Christi service territory.
• Texas Dow Employees Credit Union (TDECU): Texas-headquartered community credit union offering deposits, consumer and mortgage lending, and digital banking. Comparable as a Texas-chartered cooperative with overlapping consumer banking products and similar member-owned structure.

Others

• GreenPath Financial Wellness: Non-profit financial counseling partner that Members First white-labels for member financial wellness services. Included as an ecosystem partner rather than a competitor, but useful for understanding the credit union's broader member-support infrastructure.

Broad incumbents

• Local Government Federal Credit Union (LGFCU): Federally chartered community credit union offering a similar full product suite (savings, consumer loans, mortgages, digital). Comparable in cooperative structure and member-focused value proposition, though serves a different geographic niche.

Regional players

• Allegiance Credit Union: Texas-based community credit union offering comparable deposit, lending, and digital services. Comparable as a Texas community cooperative, though operating primarily in the Oklahoma/Texas region.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UCcQp165yyL1DWx8AXayChDA
• Facebookfacebook.com/m1stcu
• LinkedInlinkedin.com/company/members-first-credit-union-texas

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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