Collins Community Credit Union

What Collins Community Credit Union does

Collins Community Credit Union (CCCU) is an Iowa-chartered, NCUA-insured cooperative financial institution founded in 1940 by ten Collins Radio employees and headquartered at 1005 Blairs Ferry Rd NE, Cedar Rapids, Iowa. Operating across nine physical branches in Cedar Rapids, Cedar Falls, Dubuque, Marion, North Liberty, Des Moines, and West Des Moines, with 200+ employees (251-500 range disclosed), CCCU serves consumer, small-business, youth, and non-profit member segments with a full-stack retail banking franchise. Its product portfolio spans high-yield checking (Advantage Checking at 4.85% APY on balances up to $25,000), tiered savings and money market accounts, certificates of deposit, IRAs (Traditional, Roth, Roth Conversion, Coverdell), consumer lending (auto, RV, personal, share-secured, credit-builder, student), mortgage products (Fixed-Rate, FHA, VA, ARM), home equity (closed-end loans and HELOCs), and a credit card lineup (Visa Platinum, Visa Platinum Rewards, Visa Secure, Visa Business Choice Rewards). Business banking is offered through Small Business Checking, Business Plus Checking, Community Checking for non-profits, ACH origination, and merchant services through a Professional Solutions partnership.

The underlying technology layer combines a digital banking platform with a mobile app (iOS and Android), Zelle-based peer-to-peer payments, CardValet card controls, SavvyMoney credit-score monitoring, Mobile Deposit, Interactive Teller Machines (ITMs) at multiple branches, and a live Collins Video Chat service for remote consultations. Wealth management, trust services, and insurance are delivered through partner integrations, primarily LPL Financial, First Community Trust, and Collins Insurance, alongside GreenPath for financial wellness and ISL Education Lending for student loan referrals.

CCCU's revenue model is the standard credit union model: net interest income on the lending book (auto loans starting at 4.14% APR, mortgages, home equity, credit cards at 9.99%-21.49% APR) supplemented by deposit and account fees (Advantage Protect Checking $5.95/mo, Take2 Checking $9.95/mo, paper-statement fees), interchange on cards, referral income from partners such as ISL Education Lending and Professional Solutions, and fee income from wealth management services via LPL. The go-to-market motion is direct-to-consumer across Eastern Iowa, combining branch-based member acquisition with digital self-service channels and a Spanish-language site to broaden demographic reach. Loyalty rate discounts of 0.25%-0.50% reward members who deepen relationships through direct deposit and automatic loan payments.

Name

Collins Community Credit Union

Legal name

Collins Community Credit Union

Website

https://collinscu.org

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

251–500 employees

Short description

Collins Community Credit Union is a Cedar Rapids, Iowa-based NCUA-insured cooperative founded in 1940, serving consumer, small-business, youth, and non-profit members across nine Iowa branches with checking, savings, lending, credit cards, and wealth management services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130), Credit Card Issuing (522210)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industries

Employer/Occupational Credit Unions (FSABAEAB), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Wealth management
• Credit union services

Headquarters

HQ city

Cedar Rapids

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: Primary revenue stream from interest charged on various loan products including auto loans, mortgages, home equity loans, personal loans, credit cards, and business loans. Rates range from 4.14% APR for auto loans to 21.24% for secured credit cards.
2. Checking Account Fees: Monthly service fees on certain account types such as Advantage Protect Checking ($5.95/month) and Take2 Checking ($9.95/month). Also includes paper statement fees ($3.00/month for Simple Account if not enrolled in eStatements).
3. High-Yield Checking Reward Accounts: Interest paid on checking account balances up to $25,000 at 4.85% APY for qualified Advantage Checking account holders who meet monthly requirements including direct deposit and debit card usage.
4. Share Secured and Credit Builder Loans: Loans secured by member savings or designed to build credit history, generating interest income while helping members establish or rebuild credit.
5. Credit Card Fees: Fees including cash advance fees ($5 or 3%), late payment fees (up to $30), foreign transaction fees (1%), and return payment fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Collins Community Credit Union is a member-owned credit union providing personal and business banking services, including checking and savings accounts, certificates of deposit, consumer and mortgage loans, credit cards, and wealth management services. The credit union operates 9 physical branches across Iowa supplemented by digital banking channels including online banking, a mobile app, video chat banking, and interactive teller machines.

Product overview

Collins Community Credit Union operates as a full-service financial institution offering a comprehensive suite of banking products and services organized into personal banking, business banking, lending, credit cards, and wealth management divisions. The core banking platform centers on checking and savings accounts including Advantage Checking (high-yield checking), various savings products (Signature Money Market, Money Market Plus, basic Savings Ltd.), and Certificates of Deposit. Lending offerings span consumer loans (auto, RV, personal, student), mortgages (conventional, FHA, VA, ARM), and home equity products (closed-end loans and HELOCs). Credit card portfolio includes Visa Platinum, Visa Platinum Rewards, Visa Secure Card, and Visa Business Choice Rewards. The institution also provides business banking services, wealth management through LPL Financial partnership, and digital banking tools including Online Banking, Mobile App, Bill Pay, Zelle, and CardValet. The product architecture follows a traditional credit union model with account tiers designed for different member segments (youth, basic, premium) and loyalty programs offering rate discounts for members with multiple products.

Differentiator

Problem solved

Functional benefit

Brands

• Collins Wealth Management: Wealth management and financial advisory services offered through LPL Financial for Collins Community Credit Union members.
• First Community Trust
• Collins Insurance

Products and services

• Advantage Checking High-yield personal checking account paying 4.85% APY on balances up to $25,000 for members meeting monthly qualifications including direct deposit, 15+ debit card purchases of $5+ monthly, eStatements enrollment, and online/mobile banking login. No monthly fee with $50 minimum deposit to open.
• Advantage Protect Checking Enhanced personal checking account paying 4.85% APY on balances up to $25,000, bundled with the Collins Protection Package including identity theft reimbursement, credit monitoring, roadside assistance, and cell phone insurance. $5.95 monthly fee with $50 minimum deposit.
• Take2 Checking Second-chance personal checking account designed for members recovering from credit issues, featuring a $9.95 monthly fee, free Visa debit card, and opportunity to qualify for traditional checking after 12 months in good standing. $50 minimum deposit to open.
• Simple Account Debit-card-only personal checking account with no paper checks, no monthly fees, and no overdraft fees, designed to prevent accidental overdrafts. $50 minimum deposit to open; $3 monthly paper statement fee if not enrolled in eStatements.
• Health Savings Account Tax-exempt personal trust account for paying qualified medical expenses, with tax-deductible contributions, portability across jobs and medical coverage changes.
• Signature Money Market Personal money market account paying up to 3.05% APY bonus rate on new money when paired with an active Collins checking account meeting monthly transaction requirements (10+ monthly withdrawals and 1+ deposit). $1,000 minimum new money deposit required.
• Lifestyle Savings Account Goal-based personal savings account allowing members to save for specific purposes with a $5 minimum deposit to open, no minimum balance requirements to earn dividends, and 0.05% APY.
• Money Market Plus Personal tiered money market savings account for long-term savings with tiered dividend rates based on balance tiers, $1,000 minimum deposit and balance to earn dividends, limited to 6 withdrawals per month, no monthly fee.
• Savings Ltd. Basic personal savings account helping members achieve short and long-term financial goals with a $5 minimum deposit and $100 balance required to earn dividends.
• Youth Savings Account Personal savings account for youth ages 0-23 designed to teach financial habits early, featuring invitations to exclusive youth events and a $5 minimum deposit.
• Coverdell Education Savings Account Personal nondeductible education savings account offering tax-free withdrawals for elementary, secondary, or higher education expenses including computer technology, with $2,000 annual contribution limit.
• Certificates of Deposit Share certificate investment product for personal members with flexible terms, $1,000 minimum balance, 10-day grace period after maturity, and automatic renewal options.
• Certificate for IRAs Retirement investment certificate for personal members offering higher interest rates with flexible terms to help achieve unique retirement goals.
• Business Plus Checking Commercial checking account for mid to large-size businesses offering sweep maintenance, treasury management, ACH, remote deposit capture, and wire services.
• Small Business Checking Business checking account for new and growing businesses with no monthly maintenance fee, 50 free transactions, free online and mobile banking, and available business debit cards.
• Community Checking Checking account specifically designed for unincorporated non-profit organizations with 50 free transactions per month.
• Business Savings Business savings account with $5 minimum deposit, $100 minimum balance to earn dividends, earning 0.10% APY, limited to 6 withdrawals per month.
• Business Money Market High-yield tiered money market savings account for businesses maintaining larger balances, with $1,000 minimum deposit and tiered dividend rates from 0.51% APY up to 2.86% APY.
• Auto Loans Personal vehicle financing for purchases and refinancing with rates as low as 4.14% APR (60-month term) with loyalty discount, free pre-approval, and 100% financing available for qualified borrowers on 2024-2026 vehicles.
• Recreational Vehicle Loans Personal financing for RVs, boats, travel trailers, snowmobiles, and jet skis with rates starting at 8.85% APR for new and used vehicles, including refinancing options.
• Fixed-Rate Mortgage Conventional personal mortgage with fixed interest rate for predictable monthly payments, ideal for members planning to stay in their home long-term.
• FHA Loan Government-backed personal mortgage with lower down payment requirements, lower credit score requirements, fixed interest rates, and more flexible debt-to-income ratios.
• VA Loan Personal home loan for servicemembers and veterans providing up to 100% financing with no Private Mortgage Insurance, fixed rates, and seller contributions up to 4%.
• Adjustable-Rate Mortgage (ARM) Personal mortgage with low fixed rate for an initial period (e.g., 5/1 ARM) then adjusts annually based on a market index, suitable for those not planning long-term property ownership.
• Closed-End Home Equity Loan Personal fixed-rate installment loan allowing homeowners to borrow against accumulated equity for home improvements, debt consolidation, or other expenses with low fees, rates as low as 6.90% APR (loyalty rate).
• Gold Equity Access Line (HELOC) Personal variable-rate revolving line of credit secured by home equity, functioning like a credit card with check access or fund transfers up to 90% of property value; rates from 4.00% APR minimum to 11.00% APR maximum.
• Personal Loans Flexible personal unsecured loans for car repairs, medical expenses, vacations, and other needs with rates starting at 9.10% APR and available loyalty discounts.
• Share Secured Loan Personal loan secured by existing savings or certificate of deposit, offering lower rates than unsecured personal loans with flexible terms up to 72 months and no maximum loan amount.
• Credit Builder Loan Personal loan designed to help establish or rebuild credit history, where $1,000 is held in a Savings Ltd account while member makes monthly payments reported to credit bureaus; 8.50% APR fixed for 12-37 month terms.
• Student Loans Personal private student loans and refinancing options offered through a referral partnership with ISL Education Lending, a nonprofit organization serving college students and families.
• Visa Platinum Rewards Credit Card Personal rewards credit card earning points on purchases through the uChoose Rewards program (redeemable for travel, merchandise, gift cards, cash back, and event tickets), variable APR of 10.99%-21.49%, no annual fee, no balance transfer fees.
• Visa Platinum Credit Card Personal standard platinum credit card with variable APR of 9.99% to 20.49%, suitable for members who carry balances month-to-month, with no annual fee.
• Visa Secure Card Personal secured credit card for building or rebuilding credit, with credit secured by a deposit in a deposit account, variable APR of 21.24%, no pre-payment penalties.
• Visa Business Choice Rewards Credit Card Business rewards credit card earning points on purchases with over 6 million redemption options including travel, merchandise, and gift cards, with APR of 15.40%.
• Wealth Management Financial advisory services for members including wealth management, retirement planning, investment planning, insurance planning, mutual funds, and annuities, offered through a partnership with LPL Financial (a registered investment advisor and broker-dealer, member FINRA/SIPC).
• Roth IRAs Personal retirement savings account allowing after-tax contributions with tax-free withdrawals in retirement, ideal for members wanting to start retirement planning early.
• Traditional IRAs Personal tax-deferred retirement savings account for anyone receiving taxable compensation, with contributions potentially tax-deductible and withdrawals taxed at ordinary income rates.
• Roth Conversion IRAs

Quantifiable outcome

• High-yield checking paying 4.85% APY on balances up to $25,000 for qualifying members
• +2 more outcomes

Named customers9 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• LPL FinancialcoreStrategic or Co-development PartnerSecurities and advisory services offered through LPL Financial LLC, a registered investment advisor and broker-dealer (member FINRA/SIPC). Collins Wealth Management team consists of certified professionals (CRPC, BFA) who provide wealth management, retirement planning, investment planning, insurance planning, and annuity products to members. LPL provides the infrastructure while Collins advisors serve members.
• Professional SolutionscoreChannel Partner/ Reseller/ DistributorPartnership for merchant services providing credit and debit card processing, mobile payments, gift and loyalty programs, POS solutions, and check guarantee recovery for business members. Professional Solutions offers processing with no hidden fees, low rates, and 24/7 technical support.
• ISL Education LendingminorChannel Partner/ Reseller/ DistributorReferral partnership for private student loans and student loan refinancing. ISL Education Lending is a nonprofit organization offering lower-priced student loans. Collins receives compensation for referrals of student loan customers.
• GreenPath Financial WellnessminorStrategic or Co-development PartnerFinancial wellness resources and tools provided through partnership with GreenPath, offered to members with Credit Builder Loans and Simple Accounts for financial education and counseling.
• Zelle (Early Warning Services)coreTechnology or IntegrationFast, safe money transfer service integrated into Collins Bill Pay platform, allowing members to send and receive money with friends, family, and others using email or mobile number.
• First Community TrustminorStrategic or Co-development PartnerTrust services offered in partnership, part of the Invest & Insure suite of products for members seeking estate planning and trust management services.
• Collins InsuranceminorStrategic or Co-development PartnerInsurance products and services offered as part of the Invest & Insure suite, providing members with auto, home, and other insurance options.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Heartland Financial USA (HTLF): Multi-state bank holding company with significant Iowa presence through subsidiary banks. Competes with CCCU on consumer deposits, mortgages, and small business lending across overlapping geographies.
• MidWestOne Bank: Iowa-headquartered community bank with full-service consumer, business, and wealth management offerings. Competes with CCCU across deposits, lending, and small business banking in overlapping Eastern Iowa markets.
• SchoolsFirst Federal Credit Union: Large occupation-based credit union (California school employees) with similar product breadth including high-yield checking, wealth management, and digital-first banking. Comparable as a scaled community credit union model, though in a different geography.

Emerging players

• Alliant Credit Union: Online-focused credit union serving members nationwide with high-yield deposit products and digital banking. Competes with CCCU on rates and digital experience for digitally savvy members in Iowa.
• Connexus Credit Union: National digital-first credit union offering high-yield checking and deposits nationwide, including in Iowa. Not directly local but competes with CCCU for digitally-engaged members attracted to its online rates.

Regional players

• Bellco Credit Union: Colorado-based community credit union with similar full-service banking, lending, and wealth management offerings. Comparable in scale and community credit union model, though operating in a different regional geography.

Direct peers

• Greater Iowa Credit Union: Iowa-based community credit union offering similar consumer and business banking, lending, and digital services. Competes with CCCU for the same regional member base in central and eastern Iowa.
• Veridian Credit Union: Another large Iowa-based community credit union with similar personal banking, lending, and business banking offerings across Eastern Iowa. Directly comparable in scale, geography, and member base, making it the closest head-to-head competitor in the Cedar Rapids/Waterloo market.
• Affinity Credit Union: Iowa-headquartered community credit union serving similar geographic markets with comparable deposit, loan, and business banking products. Overlaps directly with CCCU in target member segments and product architecture.
• University of Iowa Community Credit Union (UICCU): Large Iowa community credit union serving University of Iowa affiliates and broader Eastern Iowa communities. Comparable in scale, full-service offerings, and regional market overlap with CCCU.

Market position

Weaknesses1 record

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/collinscommunitycu
• LinkedInlinkedin.com/company/collins-community-credit-union
• Instagraminstagram.com/explore/locations/36374384
• Xx.com/CollinsCCU

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Collins Community Credit Union