The Family Credit Union

What The Family Credit Union does

The Family Credit Union (TFCU) is a community-chartered, member-owned credit union founded in 1935 and headquartered at 1530 W. 53rd Street in Davenport, Iowa. It serves individual consumers and small businesses primarily across the Quad Cities metropolitan area (Davenport, Bettendorf, and Silvis) with additional branches in Perry, Muscatine, Beardstown (JBS plant satellite), and Omaha, totaling 10 locations across Iowa, Illinois, and Nebraska. Membership is governed by community-based geographic eligibility, and the institution is federally insured by the NCUA with deposits protected up to $250,000.

The credit union operates a full-service retail banking platform built on Fiserv core technology, including the Originate loan-origination system, online and mobile banking, mobile deposit, mobile wallets, and the MY Card card-controls application. Its product set spans deposit products (checking, savings, money market Tiered Interest Account, share certificates, IRAs, Christmas Club), consumer lending (vehicle, home, home equity up to 95% LTV, personal, Sallie Mae-branded student loans), a rewards Mastercard with 1% cash back, and member services (CARFAX vehicle history, TurboTax and H&R Block discounts, insurance, retirement and estate planning via First Community Trust). The credit union also distributes financial wellness tools (Banzai, Zogo, Credit Sense/SavvyMoney) and maintains life-stage sub-brands (Kirby Kangaroo Club for children, Young Adult Account, Golden Members for seniors).

TFCU's revenue model follows the standard credit union structure: net interest income from the spread between loan yields and deposit dividends is the primary driver, supplemented by transaction fees (ATM surcharges, wire transfers, overdraft protection, check reorders, gift cards) and fee-based services. The not-for-profit, member-owned cooperative structure is the central value proposition, positioned as lower loan rates, higher savings dividends, and fewer fees relative to for-profit banks, with the NCUA insurance badge as a parity signal to FDIC-insured competitors. The institution is led by President and CEO Mike Brandt, who succeeded David Hulsbrink in April 2024, and is governed by a volunteer board including Jim Bickford (Chairman of Audit Committee), Donald Schnauber, and Randy Olsen.

Name

The Family Credit Union

Legal name

The Family Credit Union

Website

https://familycu.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

51–100 employees

Short description

The Family Credit Union is a community-chartered, NCUA-insured credit union serving individuals and small businesses across the Quad Cities and four other Midwest locations with deposits, consumer loans, mortgages, and digital banking on a Fiserv core platform.

Ownership category

akta.pro rank

Product category

Community Credit Union Banking

NAICS

Credit Unions (52213), Depository Credit Intermediation (5221), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Community credit union
• Consumer banking services
• Deposit and loan products
• Retail financial services
• Mortgage and auto lending

Headquarters

HQ city

Davenport

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on various loan products including vehicle loans, home loans, personal loans, credit cards, and student loans
2. Fee-based Services: Fees from various services including ATM usage (non-network), wire transfers, overdraft protection, check reorders, and other ancillary banking services
3. Share Certificate and Savings Products: Interest-bearing deposit products where members earn dividends; credit union pays interest on deposits and earns spread on lending

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

The Family Credit Union is a community-based, member-owned credit union offering personal and small business banking products including checking accounts, savings accounts, share certificates, IRAs, vehicle loans, home loans, personal loans, student loans, and a rewards credit card. Members access accounts through 10 physical branches across Iowa, Illinois, and Nebraska, complemented by online banking, a mobile app, mobile deposit, mobile wallets, and a Privileged Status ATM network. Supplementary services include financial wellness coaching, retirement and estate planning through First Community Trust, credit monitoring via Credit Sense, and discounted tax preparation.

Product overview

The Family Credit Union (TFCU) is a community-based credit union serving the Quad Cities area and beyond, offering a comprehensive suite of financial products and services. The core banking offerings include Checking Accounts, Savings Accounts, Share Certificates, and Individual Retirement Accounts (IRA) for deposit products, alongside Vehicle Loans, Home Loans including Home Equity Loans, Personal Loans, and Student Loans for lending needs. The credit union provides a Rewards Credit Card and various digital banking services including Mobile Banking, Mobile Deposit, Mobile Wallets, Online Banking, and Bill Pay. Additional services include Financial Wellness Coaching, insurance products, college scholarships, youth programs (Kirby Kangaroo Club, Young Adult Account), senior services (Golden Members), and partnerships with First Community Trust for investment/estate planning, Banzai and Zogo for financial education, and TurboTax/H&R Block for tax preparation. TFCU operates 10 branches across Iowa, Illinois, and Nebraska.

Differentiator

Problem solved

Functional benefit

Brands

• Kirby Kangaroo Club: Savings program for children
• Golden Members
• Young Adult Account
• Paw It Forward
• Credit Sense
• Tiered Interest Account (TIA)
• Christmas Club

Products and services

• Checking Accounts Traditional and specialty checking account options for personal use, including debit cards, direct deposit, and online bill pay. Targeted at individual consumers in the Quad Cities and surrounding service areas.
• Savings Accounts Basic savings account earning monthly dividends with quarterly statements, serving as the primary membership account for consumer members.
• Tiered Interest Account (TIA) Money market-style savings account with tiered interest rates that increase as balance grows; requires $1,500 minimum balance and pays daily dividends monthly.
• Christmas Club Savings Account Specialized savings account designed to help members save for holiday expenses throughout the year; funds become available on November 1st for holiday shopping.
• Share Certificates Certificate of deposit products offering fixed-term savings with competitive interest rates, available in terms from 6 to 60 months.
• Individual Retirement Accounts (IRA) Tax-advantaged retirement savings accounts including Traditional and Roth IRA options for long-term retirement planning for individual consumers.
• Business Accounts Checking and savings accounts designed for small business customers with features including merchant services and business loans.
• Rewards Credit Card Mastercard credit card earning 1% cash back on purchases for cardmembers spending $2,500+ annually; rewards credited in November each year, with annual interest rates as low as 12.90% based on credit.
• Home Loans Mortgage and home financing products including purchase mortgages, refinancing options, and home equity loans/lines of credit for individual consumers.
• Home Equity Loan Second mortgage allowing members to borrow up to 95% of their home's equity, with flexible repayment terms up to 180 months (15 years) and potentially tax-deductible interest.
• Vehicle Loans Financing for new or used automobiles, boats, motorcycles, and recreational vehicles, with competitive rates, flexible terms, and pre-approval options.
• Personal Loans Unsecured (signature) loans for various purposes including home repairs, debt consolidation, medical bills, weddings, and vacations, with no collateral required.
• Smart Option Student Loan Private student loan program in partnership with Sallie Mae covering college costs not met by financial aid, with features including borrowing up to 100% of school-certified cost of attendance, no origination fees, and choice of fixed or variable rates.
• Mobile Banking Smartphone banking application enabling account access, transfers, bill payment, mobile deposit, and account management on iOS and Android devices.
• Mobile Deposit Remote check deposit service allowing members to deposit checks by photographing them with their smartphone.
• Mobile Wallets Support for Apple Pay, Google Pay, Samsung Pay, and other mobile payment platforms for contactless transactions.
• Online Banking Web-based banking platform providing 24/7 account access, bill pay, transfers, e-statements, and account management.
• Bill Pay Online bill payment service integrated with online banking for scheduling and managing recurring payments to vendors and service providers.
• Credit Sense Credit monitoring and scoring tool powered by SavvyMoney, providing ongoing access to credit scores and improvement recommendations for members.
• MY Card Mobile card management app allowing users to control card usage, set spending limits, and manage card security features.
• Financial Wellness Coaching Personalized financial guidance from a Financial Wellness Coordinator covering budgeting, credit improvement, goal planning, debt management, and financial scams/identity theft prevention.
• Insurance Products Various insurance products and services offered through partnerships to protect members' financial well-being.
• First Community Trust Partnership Partnership providing investment management, retirement planning, and estate planning services through First Community Trust for TFCU members.
• Discounted Tax Preparation Partnership with TurboTax and H&R Block offering TFCU members exclusive discounts on tax preparation services (20% off TurboTax; up to $25 off H&R Block).
• Kirby Kangaroo Club Savings program for children introducing youth to financial literacy and responsible saving habits.
• Golden Members Specialized services and benefits for senior members, focusing on financial security during retirement.
• Young Adult Account Banking products designed for young adults transitioning to financial independence, with features suited to their needs.
• External Transfers Service enabling transfers between TFCU accounts and external bank accounts at other financial institutions.
• Wire Transfers Domestic and international wire transfer services for sending and receiving funds.
• Visa Gift Cards Prepaid gift cards for gifting purposes, available for purchase at TFCU branches.
• College Scholarships Local scholarship programs supporting students in Quad Cities (Davenport, Bettendorf, Silvis), Perry, Muscatine, Beardstown, and Omaha areas.
• Health Savings Account (HSA) Tax-advantaged health savings account for medical expenses offered to members.

Quantifiable outcome

• Interest rates on loans are typically lower than traditional banks due to credit union not-for-profit structure
• +2 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• King's Harvest Pet RescueminorGTM or Marketing Partner · 1 August 2025Community partnership supporting local animal shelters. TFCU donated $1,500 to King's Harvest Pet Rescue during August 2025 adoption event, which was matched by King's Harvest for a total of $3,000 donation.
• Family MuseumminorGTM or Marketing PartnerSummer Fun Partner providing discounted admission ($5 on Mondays) for TFCU members. Interactive children's museum in Bettendorf, Iowa with exhibits including Fox Hollow, George's Farm, and science/art studios.
• Quad Cities Botanical CenterminorGTM or Marketing PartnerSummer Fun Partner providing $5 admission on Mondays for TFCU members. Features Sun Garden Conservatory with tropical rainforest environment, outdoor gardens including butterfly and hummingbird gardens.
• Putnam MuseumminorGTM or Marketing PartnerTFCU is a proud sponsor of Dino Days event (May 31 - June 1, 2025). Provides discounted admission and educational exhibits for families.
• Moline Parks & Bass Street LandingminorGTM or Marketing PartnerTFCU sponsoring live music event on June 26 at Bass Street Landing riverside venue in Moline, Illinois.
• First Community Trust (FCT)coreStrategic or Co-development PartnerStrategic partnership for retirement planning, investments, long-term growth, and estate planning services. FCT provides expert guidance with decades of experience for TFCU members.
• BanzaicoreTechnology or IntegrationFinancial education partner offering interactive courses, real-life scenarios, calculators, and educational content for kids, teens, and adults. Available free to all TFCU members.
• Credit Sense (SavvyMoney)coreTechnology or IntegrationCredit monitoring tool providing ongoing access to credit scores, recommendations for improvement, and savings suggestions. Powered by SavvyMoney.
• Sallie MaecoreStrategic or Co-development PartnerPartner for Smart Option Student Loan program covering college costs not met by scholarships, grants, or federal loans. Features no origination fees, no prepayment penalties, fixed or variable rates.
• FiservcoreTechnology or IntegrationCore banking technology platform provider powering online banking, loan applications, and account management systems (Originate/Fiserv platform).
• Privileged Status / Shazam NetworkcoreTechnology or IntegrationATM network partnership providing TFCU members access to thousands of no-fee ATMs nationwide through Privileged Status network.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Veridian Credit Union: Larger Iowa-based credit union serving Waterloo/Cedar Falls and broader markets. Overlaps heavily on consumer and mortgage products but operates at greater scale and geographic reach, making it a broad incumbent in the same Iowa cooperative-credit-union space.
• Connexus Credit Union: Larger multi-state credit union (Wisconsin-based) offering a similar full suite of consumer banking, lending, and digital products. Comparable cooperative model but operates at significantly greater scale and with a more national digital footprint.
• University of Iowa Community Credit Union (UICCU): One of the largest credit unions in Iowa, offering a similar full suite of consumer and business banking. Much larger in asset base and member count, but operates the same member-owned, community-based model in overlapping Iowa geographies.
• SchoolsFirst Federal Credit Union: Large federally chartered credit union serving a defined membership group. Operates the same member-owned cooperative model with comparable product breadth (deposits, lending, retirement, digital banking), but at materially greater scale.

Emerging players

• Alliant Credit Union: Online-first credit union offering nationwide membership, deposit, and consumer lending products. Overlaps with TFCU on consumer banking products but differentiates through a digital-only model that competes for the same digitally engaged members TFCU serves.

Direct peers

• Heritage Federal Credit Union: Mid-size community credit union serving Indiana and parts of the Midwest. Comparable in operating model (community-based, member-owned), product mix (consumer deposits, auto/home loans, digital banking), and target customer profile of local consumers and small businesses.
• Ascentra Credit Union: Community credit union headquartered in Bettendorf, Iowa, directly overlapping TFCU's core Quad Cities footprint. Offers a similar mix of consumer deposits, auto/home/personal loans, and digital banking, making it the most direct head-to-head competitor for members in the same geographic market.
• DuTrac Community Credit Union: Iowa-based community credit union serving the Dubuque region and surrounding communities. Comparable in product breadth (deposits, consumer lending, mortgages) and cooperative member-owned model, making it a direct comparable on size, business model, and product mix.
• First Central Credit Union: Iowa-based community credit union serving Marshalltown and surrounding areas. Comparable member-owned model with consumer deposit, lending, and digital banking services in a small-city Iowa footprint similar to TFCU's secondary markets.
• Great River Federal Credit Union: Iowa community credit union serving the Burlington/SE Iowa region. Closely comparable in size, branch count, and product focus (consumer deposits, vehicle and personal loans, mortgages), with a similar community-based GTM motion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TheFamilyCreditUnion
• Xx.com/thefamilycu
• LinkedInlinkedin.com/company/family-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 The Family Credit Union