First Atlantic Federal Credit Union

What First Atlantic Federal Credit Union does

First Atlantic Federal Credit Union is a federally chartered, member-owned not-for-profit credit union founded in 1935 in Eatontown, New Jersey, serving individuals, families, youth, and small businesses across Monmouth, Ocean, and Middlesex Counties. It operates $258M in total assets across a 20,000+ member base with five regional branches (Eatontown HQ, Oceanport, Toms River, and forthcoming Freehold and Old Bridge locations) and a digital channel stack consisting of an NCR-powered mobile app (4.7 iOS / 4.4 Android stars), full online banking, text-message banking, CardGuard card management, Goal Builder savings tracking, and Money Management aggregation.

The credit union runs a five-line product set — Spend (Personal Checking, Purchase Rewards, Youth Spend), Save (Member Savings, Club Savings, Money Market, CDs, IRAs, Head Start Youth Savings at 4.00% APY), Borrow (mortgages, HELOCs, auto, motorcycle/boat/RV, personal, Skip-A-Pay, Credit Builder, Mortgage Recast), Business (Business Checking/Savings/Loans, Business Credit Cards, Workplace Banking), and Value-Added Services (TruStage and Family Security Plan insurance, GreenPath Financial Wellness, Love My Credit Union Rewards, Fraud & Security Center). Pricing is rate-based: deposit products priced 0.05%–4.00% APY across tiers and loan products priced at 4.49%–17.99% APR depending on collateral and credit.

Monetization is the standard credit-union model: net interest income from consumer and commercial lending, fee income from accounts, overdraft, paper statements, inactivity, and loan processing, plus interchange from Visa debit and credit card volume and referral commissions from insurance partners (TruStage, Family Security Plan) and discount aggregator (Love My Credit Union Rewards). Distribution blends physical branches, the digital banking platform, MoneyPass's 40,000+ ATM network, Workplace Banking employer partnerships, and community marketing channels (Shred Day, Beach Sweeps, Financial Literacy Book Drive, Lunch Break food bank support). CEO Ann Goldinak leads the institution; commercial lending is led by Business Development Officer Larry Sherman.

Name

First Atlantic Federal Credit Union

Legal name

First Atlantic Federal Credit Union

Website

https://fafcu.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

51–100 employees

Short description

First Atlantic Federal Credit Union is a member-owned, federally chartered credit union founded in 1935, serving 20,000+ consumers, families, youth, and small businesses across Monmouth, Ocean, and Middlesex Counties in New Jersey via five regional branches and a full digital/mobile banking platform.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

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

• Retail banking services
• Consumer lending products
• Deposit accounts
• Mortgage lending
• Commercial banking

Headquarters

HQ city

West Long Branch

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on various loan products including auto loans, mortgages, home equity loans/lines of credit, personal loans, and credit cards. Rates vary by product type and creditworthiness.
2. Fee Income: Various account and service fees including monthly maintenance fees (waived with conditions), paper statement fees ($2/month if not enrolled in e-statements), inactivity fees ($10/month if no transactions in 90 days and balance below $250), overdraft fees, and loan processing fees.
3. Interchange Revenue: Revenue from credit and debit card transactions processed through the Visa network.
4. Insurance Partnerships: Commission revenue from insurance partnerships including TruStage insurance products and The Family Security Plan offered to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels9 records

Core offering

First Atlantic Federal Credit Union is a member-owned, not-for-profit federal credit union providing personal and business banking products and services including checking and savings accounts, money market accounts, certificates of deposit, IRAs, mortgages, home equity loans and HELOCs, auto loans, personal loans, recreational vehicle loans, credit cards (personal and business), commercial real estate loans, and insurance products. It serves 20,000+ members across Monmouth, Ocean, and Middlesex Counties in New Jersey through physical branches, online and mobile banking, workplace banking, and partner distribution channels.

Product overview

First Atlantic Federal Credit Union operates as a not-for-profit financial cooperative offering a comprehensive suite of banking and lending products organized around five core service lines: Spend (checking accounts including Personal Checking, Purchase Rewards debit cashback, and Youth Spend), Save (Member Savings, Club Savings, Money Market Accounts, Certificates of Deposit, Traditional & Roth IRAs, Head Start Youth Savings at 4.00% APY, and Youth Savings), Borrow (Mortgages, Home Equities including HELOCs, Auto Loans with integrated TrueCar car buying, Motorcycle/Boat/RV Loans, Personal Loans, Skip-A-Pay Program, Credit Builder Program, and Mortgage Recast), Business (Business Checking, Business Savings, Business Loans for commercial real estate, Business Credit Cards including Visa Business and Business Rewards, and Workplace Banking), and Value-Added Services (TruStage insurance products, Family Security Plan, GreenPath Financial Wellness, Love My Credit Union Rewards discount program, Financial Calculators, and Fraud & Security Center). Digital banking is delivered through Online Banking, a Mobile Banking App (rated 4.7/4.4 stars on iOS/Android), CardGuard, Goal Builder, Money Management aggregation, and Text Message Banking. The product portfolio spans deposit accounts, consumer and commercial lending, credit cards, insurance, and financial wellness tools, unified by NCUA insurance coverage up to $250,000 and a community charter serving Monmouth, Ocean, and Middlesex Counties, NJ.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Primary transactional deposit account offered to consumer members, including Free Checking with no minimum balance and Interest Checking with a $500 minimum balance earning 0.10% APY.
• Member Savings Account
• Club Savings Account
• Money Market Account
• Certificates of Deposit (CDs)
• Traditional & Roth IRAs
• Head Start Youth Savings
• Youth Spend
• Youth Savings
• Mortgages
• Home Equities
• Auto Loans
• Motorcycle, Boat, & RV Loans
• Personal Loans
• Visa Platinum Credit Card
• Visa Signature Rewards Credit Card
• Visa Secured Credit Card
• Visa Business Credit Card
• Visa Business Rewards Credit Card
• Business Checking
• Business Savings
• Business Loans
• Online Banking
• Mobile Banking App
• TruStage Auto & Home Insurance

Quantifiable outcome

• Deposits federally insured up to $250,000 by NCUA
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability1 record

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• GreenPath Financial WellnesscoreStrategic or Co-development PartnerTrusted national nonprofit partnership offering First Atlantic members free financial counseling, debt management plans, housing services, credit report reviews, student loan counseling, and financial wellness education. GreenPath counselors available by phone at 877-337-3399 with extended hours.
• The Family Security PlancoreChannel Partner/ Reseller/ DistributorInsurance partnership offering members access to Whole Life Insurance, Term Life Insurance, Disability Income Insurance, Critical Illness Insurance, Accident Insurance, and Hospital Sickness Insurance. Relationship Development Specialists contact members at (732) 380-4102.
• TruStage InsurancecoreChannel Partner/ Reseller/ DistributorExclusive TruStage Auto & Home Insurance Program, TruStage Life Insurance, and TruStage Accidental Death & Dismemberment Insurance available to credit union members with discounted rates.
• MoneyPasscoreTechnology or IntegrationATM network partnership providing members access to over 40,000 surcharge-free ATMs nationwide, eliminating ATM fees for cardholders.
• Love My Credit Union Rewards PartnersminorGTM or Marketing PartnerDiscount and rewards program featuring exclusive offers from Trust & Will (20% off estate plans), H&R Block (up to $25 off tax prep), TurboTax (up to 20% off), TruStage Home & Auto Insurance, Rental Kharma, Asurion Home+, and Powersports/RV/Boat Buying Program. Program has helped credit union members save over $2 billion.
• Lunch BreakminorStrategic or Co-development PartnerPartnership with local nonprofit Lunch Break dedicated to fighting hunger and poverty in Monmouth County. FAFCU supports through food drives, financial contributions, and volunteer efforts.
• Clean Ocean ActionminorStrategic or Co-development PartnerEnvironmental partnership with Clean Ocean Action for Beach Sweeps events in Spring and Fall to clean up local beaches and protect marine wildlife.
• TrueCarminorGTM or Marketing PartnerCar buying service partnership offering members access to TrueCar's vehicle pricing platform for transparent pricing on new and used vehicles when financing through FAFCU.
• Red Bank LibraryminorStrategic or Co-development PartnerPartnership with Red Bank Library for Financial Literacy Book Drive, collecting books on finance, money management, budgeting, and investing for community distribution.

Scale indicators5 records

Recent moves11 records

Expansion highlights6 records

Regional players

• OceanFirst Bank: OceanFirst Bank is a New Jersey-based community bank operating in overlapping Monmouth, Ocean, and Middlesex Counties with consumer and business banking products. Geographically overlapping but operates as a for-profit bank rather than a member-owned credit union.
• Hudson Valley Credit Union: Hudson Valley Credit Union is a community-chartered credit union serving New York's Hudson Valley region with comparable deposit, lending, and digital banking products. Geographically adjacent but does not directly compete in First Atlantic's NJ territory.

Direct peers

• Connexus Credit Union: Connexus is a mid-size community credit union offering a similar mix of deposits, mortgages, auto loans, and digital banking services, with a focus on nationwide membership. Comparable product breadth and member-owned value proposition.
• Visions Federal Credit Union: Visions is a community-chartered credit union operating in the Northeast US with a comparable product set (checking, savings, mortgages, auto loans, youth programs) and digital banking capabilities. Similar mid-size community credit union positioning.
• Alliant Credit Union: Alliant is a digital-first community credit union with nationwide membership and a comparable no-fee, high-rate deposit/value proposition. Comparable member-owned structure and product mix, but with much broader geographic reach.
• Affinity Federal Credit Union: Affinity Federal Credit Union is a New Jersey-headquartered community-chartered federal credit union with a similar geographic footprint and a comparable mix of consumer deposits, mortgages, auto loans, and business banking. Directly comparable in scale, charter type, and member-owned value proposition.
• BCU (Bethpage Federal Credit Union): BCU is a mid-size community-chartered credit union offering consumer deposits, mortgages, auto loans, and digital banking through a similar omni-channel model. Closely comparable in product breadth, member-base scale, and digital-first strategy.

Broad incumbents

• SchoolsFirst Federal Credit Union: SchoolsFirst FCU is a large community-chartered federal credit union with comprehensive deposit, lending, business, and youth products. Comparable community credit union model but at materially larger scale.
• Digital Federal Credit Union (DCU): DCU is a large community-chartered credit union with comprehensive consumer and business banking products and strong digital capabilities. Operates with similar product lines but at much greater scale, making it a relevant broader-incumbent comparison.
• America First Credit Union: America First is one of the largest community-chartered credit unions in the US with a comparable product suite including business banking, mortgages, and credit cards. Larger scale than First Atlantic but operates with a similar member-focused model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xtwitter.com/firstatlanticcu
• YouTubeyoutube.com/@firstatlanticfederalcu
• Facebookfacebook.com/firstatlantic
• LinkedInlinkedin.com/company/first-atlantic-federal-credit-union
• Instagraminstagram.com/firstatlanticfcu

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 First Atlantic Federal Credit Union