Des Moines Metro Credit Union

What Des Moines Metro Credit Union does

Des Moines Metro Credit Union (DMMCU) is a member-owned, not-for-profit financial cooperative established in 1938 to serve employees of the city of Des Moines and converted in 1997 to a community-charter credit union serving anyone who lives or works in Polk County and surrounding counties. The institution operates a single headquarters branch at 100 University Avenue in Des Moines, supplemented by digital channels (Home Banking, iOS/Android mobile app, CardNav) and the CO-OP Shared Branching network providing access to over 5,000 locations nationwide. DMMCU's core products span deposit products (share savings, Super Bonus tiered savings at up to 4.07% APY, personal and business checking, share certificates, IRAs, Kirby Kangaroo youth club), consumer and commercial lending (auto loans starting at 4.39% APR, fixed and balloon first mortgages, home equity loans, unsecured personal loans, Credit Builder Loans, MasterCard Platinum/Gold/Regular credit cards, SBA loans via Community Business Lenders CUSO), and fee-based services (overdraft, wires, safe deposit boxes, money orders, notary).

DMMCU extends its product surface through a network of channel and technology partnerships rather than in-house build: First Community Trust provides wealth management and trust services ($1B+ in partner AUM), TruStage delivers insurance (life, AD&D, auto/home, Medicare, disability, long-term care), Enterprise Car Sales offers haggle-free vehicle purchasing in Urbandale, AutoSMART provides online car shopping, Iowa Student Loan offers student loan products, and Premier Lending Alliance supports FHA/VA mortgage origination. Technology integrations include Zelle and PopMoney for person-to-person payments, MessagePay for external loan repayment, SHAZAM for ATM access, and Credit Sense (vendor-provided) for in-app credit score monitoring. Mobile deposit is capped at $2,000/day with 1–2 business day availability.

The business model is a classic member-owned cooperative: revenue derives primarily from net interest spread on the loan book (auto, mortgage, home equity, personal, credit card) plus transactional fees (NSF $30, ATM $2 after 10/month, outgoing domestic wires $15, MessagePay $5.99). Earnings flow back to members via higher share certificate APYs and lower loan APRs rather than shareholder returns. The credit union is federally insured by the NCUA up to $250,000 and holds Equal Housing Opportunity and Juntos Avanzamos designations, with a deliberate bilingual positioning (full Spanish website, ITIN/consular ID acceptance) targeting the Hispanic community in central Iowa as a differentiated acquisition channel.

Name

Des Moines Metro Credit Union

Legal name

Des Moines Metro Credit Union

Website

https://dmmcu.org

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

11–50 employees

Short description

Des Moines Metro Credit Union is a member-owned, NCUA-insured community credit union in Iowa serving Polk County and surrounding areas with deposit products, consumer and small-business loans, credit-building programs, and bilingual Hispanic-focused services, distributed via one branch plus digital and shared-branching channels.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Retail banking services
• Consumer lending
• Community credit union
• Savings accounts
• Small business loans

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Credit unions are not-for-profit cooperatives. Earnings are paid back to members in the form of higher savings rates and lower loan rates. Interest income from auto loans, mortgages, personal loans, credit cards, and home equity loans.
2. Share Certificate Fees: Fees associated with share certificates including early withdrawal penalties. Certificate terms range from 6-month to 5-year with various minimum deposits.
3. Service Fees: Various service fees including overdraft fees ($30), ATM fees ($2 per withdrawal over 10), wire transfer fees ($15 outgoing domestic, $8 incoming), stop payment fees ($30), and account research fees.
4. Loan Origination: Income from originating various loan products including auto loans, mortgages, personal loans, credit builder loans, and business loans through partnerships.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels9 records

Core offering

Des Moines Metro Credit Union is a member-owned, not-for-profit financial cooperative that provides deposit accounts (share savings, Super Bonus, checking, share certificates, IRAs), consumer lending (auto, mortgage, home equity, personal, credit builder, MasterCard), small business banking, and complementary wealth/insurance services through partner networks. Distribution combines a single Des Moines branch, digital banking (online and mobile), the CO-OP Shared Branching network, and bilingual Spanish support for the local Latino community.

Product overview

Des Moines Metro Credit Union is a full-service financial institution offering a comprehensive suite of banking products and services. The core banking platform includes Home Banking and Mobile Banking for online account management, bill payment, and mobile deposits. Lending products encompass auto loans, first mortgages with fixed-rate and balloon options, home equity loans, personal loans, credit builder loans, MasterCard credit cards (Platinum, Gold, Regular), and small business loans through Community Business Lenders. Deposit products include share savings, Super Bonus tiered accounts, personal and business checking, share certificates, IRA accounts (Traditional, Roth, Educational), and the Kirby Kangaroo Club for children's savings. Additional services feature shared branching through CO-OP, Visa prepaid/gift cards, wealth management through First Community Trust, insurance through TruStage, loan payment via MessagePay, credit monitoring through Credit Sense, CardNav app for card management, and overdraft protection options.

Differentiator

Problem solved

Functional benefit

Products and services

• Home Banking (Online Banking Platform) Online banking platform providing 24/7 account access with 90 days of checking history and 6 months of savings history, fund transfers, loan payments, MasterCard payments, e-statements, and integrated Credit Sense monitoring. Available to all DMMCU members.
• Mobile Banking App Free mobile banking application for iOS and Android offering account access, bill payment, mobile check deposits ($2,000 daily limit, 1-2 business day availability), and integrated Credit Sense monitoring for DMMCU members.
• Online Bill Pay Free bill payment service for members with checking accounts, featuring person-to-person payments through PopMoney and Zelle, plus Account-to-Account transfers. Customer service is provided through 1-844-699-4062.
• Credit Sense Free credit score monitoring and credit report access integrated into Home Banking and Mobile Banking, with personalized tips to improve or maintain the user's score and best-available loan rate offers.
• MessagePay Loan Payment Portal External loan payment portal that allows members to make DMMCU loan payments from external checking, savings, credit cards, or debit cards, including via text message, for a $5.99 transaction fee.
• CardNav App Mobile card-management app for iOS and Android that lets members turn debit and credit cards on/off, set spending limits, control card features by merchant category, and configure customized transaction alerts.
• Auto Loans New and used auto loans with low rates (4.39%-4.99% APR for 1-84 month terms as of 10/27/2025), quick service, easy terms, and pre-approval available before car shopping; for members and community borrowers in the credit union's service area.
• First Mortgage Loans Fixed-rate and balloon first mortgage loan options with low origination costs, up to 80% LTV for refinance and 90% LTV for purchase, for members purchasing or refinancing a primary residence.
• Home Equity Loans Fixed-rate (5.99%-6.49% APR for 0-123 months) and variable-rate (6.50% APR, 4.50%-13% rate band) home equity loans used for consolidating bills, making home improvements, or financing education, available to members with home equity.
• Personal Loans Unsecured personal loans with no collateral required, affordable terms, and reasonable rates for members needing funds for non-mortgage personal needs.
• Credit Builder Loan Step-by-step loan program (Step 1: $500 over 6 months; Step 2: $1,000 over 12 months) designed to help members establish or rebuild credit history through structured on-time payments.
• MasterCard Credit Cards Platinum (9.90% APR), Gold (11.50% APR), and Regular (13.50% APR) MasterCard options with no annual fees, worldwide acceptance, and management through MyCard Info portal; available to qualifying members.
• Small Business Loans Small business loans delivered through Community Business Lenders (CBL) partnership, including SBA 504 Loans, SBA 7(a) Loans, real estate loans, and revolving lines of credit for Iowa-based small businesses.
• Share Savings Accounts Basic savings account with $25 minimum deposit earning dividends on balances of $100 and over; opening this account establishes credit union membership and makes the holder a member-owner.
• Super Bonus Savings Accounts Flexible high-yield savings accounts with $5,000 minimum balance and four APY tiers: 0.75% ($5K-$24,999), 1.00% ($25K-$49,999), 1.10% ($50K-$499,999), and 4.00% ($500K+).
• Personal Checking No monthly service charge and no minimum balance checking account with free debit card, unlimited credit transactions, and access to Online Bill Pay, mobile deposits, and e-statements for individual members.
• Business Checking Business checking account with low or no monthly service charge when 50 checks or fewer clear per month and up to 250 deposit items free; designed for small businesses in the Des Moines metro area.
• Share Certificates Term-deposit share certificates ranging from 6 months to 5 years (e.g., 6-month 3.95% APY, 1-year 3.85% APY, 18-month 3.75% APY, 30-month 3.60% APY, 5-year 3.00% APY) with minimum deposits from $500 to $5,000; IRA certificates also offered.
• IRA Accounts Traditional, Roth, and Educational IRA accounts providing tax-deferred or tax-free retirement growth, available to qualifying members of the credit union.
• Kirby Kangaroo Club Children's savings club for ages 12 and under with $5 minimum deposit, dividends on $25+ balances, a special membership card, and birthday cards to introduce young savers to the credit union.
• Wealth Management & Insurance Services Wealth management delivered through the First Community Trust partnership: investment management, financial planning, estate planning, trust administration, and 401(k)/IRA rollovers, served by Wealth Advisor Lisa Grefe.
• Insurance Services (TruStage) Insurance products delivered through the TruStage partnership: life insurance, AD&D, auto/home insurance, Medicare, disability, long-term care, and annuities, backed by TruStage's 80+ years of credit-union experience.
• Shared Branching (CO-OP Network) Access to more than 5,000 CO-OP Shared Branching locations nationwide where members can make deposits, withdrawals, loan payments, and fund transfers as if visiting a DMMCU branch.
• Visa Prepaid Reloadable Card (Coopera) Prepaid reloadable Visa card for members without credit scores, purchased at the credit union for $4.95 and loadable via direct deposit or Visa ReadyLink.
• Visa Gift Cards Prepaid Visa gift cards loadable from $25 to $750, accepted anywhere Visa is accepted, sold through the credit union.
• Enterprise Car Sales Partnership Haggle-free vehicle purchasing through Enterprise Car Sales at 2551 100th St, Urbandale, IA, offering a 12-month/12,000-mile warranty, roadside assistance, CARFAX reports, and a 7-day repurchase agreement integrated with the credit union's auto lending products.

Quantifiable outcome

• Members have built credit from nothing and purchased vehicles of their dreams
• +1 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration20 records

AI capability3 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• First Community Trust (FCT)coreStrategic or Co-development PartnerPartnership with First Community Trust to offer investment management, financial planning, estate planning, and trust services. Wealth Advisor Lisa Grefe serves members. FCT manages over $1 billion in assets.
• Community Business Lenders (CBL)coreStrategic or Co-development PartnerCredit union service organization offering small business loans including SBA 504, SBA 7(a), real estate loans, and revolving lines of credit for Iowa businesses.
• Enterprise Car SalescoreChannel Partner/ Reseller/ DistributorOver 30-year partnership providing haggle-free vehicle buying with 12-month/12,000-mile warranty, roadside assistance, CARFAX reports, and 7-day repurchase agreement. Located at 2551 100th St, Urbandale, IA.
• Premier Lending AllianceminorChannel Partner/ Reseller/ DistributorMortgage partnership offering FHA, VA, and first-time home buyer programs in addition to credit union's own mortgage products.
• TruStageminorChannel Partner/ Reseller/ DistributorInsurance partnership offering life insurance, AD&D, auto/home insurance, Medicare, disability, long-term care, and annuities backed by 80+ years of credit union experience.
• CO-OP Shared BranchingcoreTechnology or IntegrationShared branching network providing access to over 5,000 branch locations nationwide. Members can make deposits, withdrawals, loan payments, and transfers at any participating credit union.
• Coopera CardminorChannel Partner/ Reseller/ DistributorVisa prepaid reloadable card (discontinued end of 2023) for unbanked individuals. Purchased for $4.95, loadable via direct deposit or Visa ReadyLink.
• Iowa Student LoanminorChannel Partner/ Reseller/ DistributorPartnership for student loan products and refinancing options for college expenses.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• SchoolsFirst Federal Credit Union: Large community-chartered credit union with similar full-service retail, lending, wealth, and insurance offerings. Comparable community-based, member-owned operating model even though its field of membership differs.
• Veridian Credit Union: Waterloo-based Iowa credit union serving multiple Iowa markets with full-service consumer and business banking. Comparable community-credit-union operating model with overlapping digital and lending offerings.
• Collins Community Credit Union: Iowa-headquartered community credit union with a similar mix of consumer lending, mortgages, and digital banking. Direct overlap with DMMCU's Polk County catchment on deposit and loan products.
• Ascentra Credit Union: Iowa-headquartered community credit union offering checking, savings, lending, and wealth management to members in the Iowa/Illinois Quad Cities region. Directly comparable cooperative model and product set.
• Affinity Credit Union: Iowa-based community credit union offering personal and business banking, lending, and digital services. Most directly comparable as another Iowa community CU competing for overlapping Polk County-area members and SMB relationships.
• Greater Iowa Credit Union: Iowa-based community credit union serving employees, residents, and businesses in its chartered region. Comparable in size, product mix, and community-focused GTM.

Broad incumbents

• Alliant Credit Union: Large national digital-first credit union. Comparable cooperative, member-owned structure and digital-led onboarding, but with national reach rather than a single regional field of membership.
• BECU (Boeing Employees Credit Union): Large community-chartered credit union in the Pacific Northwest offering the same member-owned, not-for-profit product suite. Useful benchmark for scale of operations at a successful community CU.
• Bank of America (Des Moines): National bank with retail presence in the Des Moines metro. Competes for the same consumer and SMB deposits, loans, and digital banking relationships DMMCU targets.

Regional players

• MidWestOne Bank: Iowa-headquartered community bank operating branches across the state. Comparable consumer/SMB banking footprint in Des Moines but structured as a for-profit bank rather than cooperative.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/dmmcu
• Facebookfacebook.com/pages/Des-Moines-IA/Des-Moines-Metro-Credit-Union/58371816453

Compliance3 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 Des Moines Metro Credit Union