First Community Trust
- Company typePrivate
- Founded2001
- HeadquartersDubuque, United States
- Headcount11–50
- GTM typeB2B and B2C
- OfferingServices
What First Community Trust does
First Community Trust, N.A. is a nationally chartered trust company headquartered in Dubuque, Iowa, founded in 2001 and operating as a wholly-owned subsidiary of Affiliates Management Company, which is itself the holding company of the Iowa Credit Union League. The firm delivers comprehensive wealth management, investment advisory, trust and estate administration, qualified retirement plan, and non-profit investment services to individual consumers and institutional clients. Its distribution model is channel-led: FCT embeds wealth advisors and trust officers inside 18 partner credit unions across Iowa, western Illinois, and North Dakota, serving members on-site through IRA rollovers, investment agency accounts, financial planning, and estate settlement, and it distributes complementary insurance products through affiliated FCT Insurance Solutions.
FCT operates without proprietary technology platforms or algorithms; its competitive substance is its credentialed advisory bench and fiduciary capability rather than software. The firm reports over $1.4 billion in assets under management as of May 2026, a figure that has grown from roughly $1.3 billion earlier in the year, suggesting ongoing net new assets. Recent strategic moves include the May 2026 launch of the Affiliates Choice Retirement Plan, a Pooled Employer Plan operated with Empower and The Finway Group, expansion into North Dakota via a Minot office, and the addition of Peoples Credit Union and Members Community Credit Union as new channel partners in 2026.
Revenue is generated primarily through recurring, fee-based wealth management and trust administration engagements, augmented by professional services revenue from trust settlement and insurance commissions. The customer base is a B2B2C mix: credit unions are the channel customers while their members constitute the end-consumer base, and a growing employer segment is being addressed through 3(38) and 3(16) retirement plan mandates. Pricing is relationship-based and not publicly disclosed, with preferred fee structures referenced for non-profit clients. Governance is structurally anchored in the credit union ecosystem through AMC and the Iowa Credit Union League, with multiple credit union CEOs and CFOs serving on FCT's board of directors.
First Community Trust firmographics
Firmographics- Name
- First Community Trust
- Legal name
- First Community Trust, N.A.
- Website
- https://fctrust.com
- Company type
- Private
- Founded year
- 2001
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Ownership category
- akta.pro rank
First Community Trust industry classification
Industry- Product category
- Wealth Management and Trust Services
- NAICS
- Trusts, Estates, and Agency Accounts (52592), Portfolio Management and Investment Advice (523940)
- akta.pro primary industry
- Personal & Family Trust Services (FSAAANAA)
Keywords
Where First Community Trust is headquartered
LocationHeadquarters
- HQ city
- Dubuque
- HQ country
- United States
- HQ region
- North America
Offices5 records
Markets served
First Community Trust business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others
Revenue model
- Wealth Management and Investment Advisory Services: FCT generates revenue through fee-based wealth management and investment advisory services, providing comprehensive financial advice and investment management to individuals and institutional clients.
- Trust and Estate Administration Services: Revenue from trust administration, estate settlement, and executor services for revocable trusts, irrevocable trusts, charitable trusts, and successor trustee roles.
- Retirement Plan Services: Revenue from qualified retirement plan solutions including 401(k), 403(b), and the new Pooled Employer Plan (PEP) solution, providing 3(38) investment management and plan advisory services.
- Insurance Products (through FCT Insurance): Through affiliated FCT Insurance agency, revenue from insurance products including Medicare, life and disability insurance, annuities, and long-term care coverage.
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
First Community Trust product offering
Product offeringCore offering
First Community Trust, N.A. is a nationally chartered trust company that delivers comprehensive financial advice, investment management, and trust and estate administration services. It serves individuals through embedded advisors at credit union partner branches and serves organizations with qualified retirement plan solutions, non-profit investment services, and credit-union-specific investment products. An affiliated agency, FCT Insurance Solutions, supplies complementary insurance products including Medicare, life and disability coverage, annuities, and long-term care.
Product overview
First Community Trust offers a comprehensive suite of wealth management and trust services organized into individual-focused offerings (Financial Planning, Trusts & Estate Administration, IRA Rollovers, Investment Agency Accounts) and organization-focused services (Credit Union Investment Services, Wealth Management Partnerships, Qualified Retirement Plans, Non-Profit Services). The firm recently launched the Affiliates Choice Retirement Plan as a Pooled Employer Plan (PEP) sub-brand, partnering with Empower and The Finway Group. An affiliated insurance agency (FCT Insurance Solutions) provides complementary protection products including Medicare, life/disability insurance, annuities, and long-term care coverage.
Differentiator
Problem solved
Functional benefit
Brands
- Affiliates Choice Retirement Plan: A Pooled Employer Plan (PEP) designed to help employers lower costs, streamline administration, and reduce fiduciary responsibilities associated with offering a traditional employer-sponsored retirement plan. Partnered with Empower and The Finway Group.
Products and services
- Financial Planning Comprehensive, personalized financial planning service focused on goal-oriented planning, financial assessments, strategy development, and progress tracking with visual reporting tools for individual consumers.
- Trusts & Estate Administration Trust management and estate settlement services covering revocable trusts, irrevocable trusts, charitable trusts, and executor services for estate administration for individual clients.
- IRA Rollovers Individual Retirement Account rollover services enabling clients to transfer funds from existing employer-sponsored retirement plans into an IRA with investment flexibility and easy account access.
- Investment Agency Accounts Investment management accounts providing complete portfolio management and evaluation with day-to-day supervision, record-keeping, and regular statements for individual clients.
- Credit Union Investment Services Specialized investment services for credit unions, including Charitable Donation Accounts (CDA) and Pre-funded Employee Benefit Accounts (PEB), aligned with NCUA provisions.
- Credit Union Wealth Management Partnership Partnership program that helps credit unions deliver wealth management services to their members through embedded advisors, fiduciary commitment, and marketing support.
- Qualified Retirement Plans Retirement plan solutions for organizations including 3(38) investment management, employee enrollment support, plan reviews, and fee benchmarking for 401(k), 403(b), and other qualified plans.
- Affiliates Choice Retirement Plan Pooled Employer Plan (PEP) allowing multiple employers to participate in a professionally managed 401(k) plan with reduced administrative burden and fiduciary responsibilities.
- Non-Profit Investment Services Investment services for not-for-profit organizations including asset allocation aligned with policy statements and preferred fee structures for non-profit clients.
- FCT Insurance Solutions Affiliated insurance agency offering Medicare, life and disability insurance, annuities, and long-term care coverage to complement financial plans for individual clients.
Quantifiable outcome
- Over $1.4 billion in assets under management
- +2 more outcomes
Companies that use First Community Trust
Customer profileNamed customers12 records
Segments4 records
Ideal customer profiles4 records
First Community Trust technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
First Community Trust partnerships and signals
Strategic signalPartnerships
14 partnerships are on record, tiered core.
- Peoples Credit UnioncoreNew partnership to enhance wealth management services for members. FCT provides investment management, retirement and estate planning, and trust services through embedded advisors. FCT Insurance also provides insurance products.
- EmpowercoreEmpower provides recordkeeping services and advanced technology capabilities for the Affiliates Choice Retirement Plan (PEP), FCT's Pooled Employer Plan solution. Empower administers over $2.0 trillion in assets for more than 19.5 million individuals.
- The Finway GroupcoreThe Finway Group acts as the designated Pooled Plan Provider for the Affiliates Choice Retirement Plan, handling day-to-day administration, annual compliance, and key fiduciary responsibilities as the 3(16) fiduciary.
- Members Community Credit UnioncorePartnership to expand access to wealth management services for members. Blake Randel serves as Wealth Advisor and Trust Officer, with FCT Insurance providing insurance solutions.
- River Valley Credit UnioncorePartnership to expand investment and retirement services to Ames area members. FCT offers trust, investment management and retirement services through this credit union partnership.
- Greater Iowa Credit UnioncorePartnership offering trust services, investment management and retirement services to members with Jason Freese serving as Trust Officer at GICU branches in Ames, Ankeny, Greater Des Moines, Indianola, Waukee and Denison.
- Collins Community Credit UnioncoreLongstanding credit union partnership with Kathleen Donnelly serving members; Collins Community Credit Union CEO represented on FCT Board of Directors.
- Ascentra Credit UnioncoreCredit union partner with Linda Andry (President & CEO) serving on FCT Board of Directors. Multiple FCT seminars hosted at Ascentra locations.
- DuTrac Community Credit UnioncoreCredit union partner with Andrew Hawkinson (President & CEO) serving on FCT Board of Directors. FCT Corporate Office located at DuTrac branch.
- Dupaco Community Credit UnioncoreCredit union partner with Danielle Gratton (Chief Financial Officer) serving on FCT Board of Directors.
- Financial Plus Credit UnioncoreCredit union partner with Dave Cale (President/CEO) serving on FCT Board of Directors.
- Serve Credit UnioncorePartnership to offer investment and retirement services to central Iowa members, announced December 2021.
- Affiliates Management Company (AMC)coreParent company and wholly-owned holding company of First Community Trust. AMC is the wholly-owned holding company of the Iowa Credit Union League, connecting FCT to the credit union ecosystem.
- Iowa Credit Union LeaguecoreParent organization of FCT's holding company (AMC), providing the foundational connection to Iowa credit unions that underpins FCT's distribution strategy.
Scale indicators6 records
Recent moves7 records
Expansion highlights5 records
First Community Trust competitors and assessment
Company assessmentBroad incumbents
- Cetera Financial Group: Broad incumbent: large independent advisor-servicing platform offering wealth management, retirement plan, and trust-adjacent solutions to advisors and institutions. Competes for the same credit union wealth partnership deals as FCT, though at significantly greater scale and with more technology investment.
- Focus Financial Partners: Broad incumbent: partnership model for RIAs and wealth management firms, with dedicated advisor services and capital support. Could plausibly acquire or partner with a credit-union-channel trust specialist like FCT, representing both a competitive threat and a potential exit path.
- LPL Financial: Broad incumbent: largest independent broker-dealer in the U.S., serving thousands of advisors with wealth management, retirement, and trust-referral capabilities. Competes for institutional (including credit union) relationships and dwarfs FCT in scale and tech.
Emerging players
- Sanctuary Wealth: Emerging player: partnership platform for high-net-worth wealth management teams. Shares FCT's partnership/embedded-advisor thesis but lacks a credit-union-specific distribution angle.
- Mariner Wealth Advisors: Emerging player: independent RIA providing comprehensive wealth advisory, retirement plan, and trust-adjacent services. Competes with FCT for institutional retirement plan mandates and could approach FCT's credit union channel through acquisition or partnership.
- Carson Group: Emerging player: rapidly growing RIA partnership/roll-up providing advisor support, marketing, and tech. Comparable to FCT in targeting advisor-led wealth practices and providing institutional support, though currently much larger and tech-driven.
- Stratos Wealth Holdings: Emerging player: independent wealth management holding company with both an independent advisor channel and an institutional services group (Stratos Institutional / Pension Financial Services). Overlaps with FCT on retirement plan advisory and institutional investment management.
- OneDigital: Emerging player: large national benefits, wealth, and HR consulting firm with embedded advisor services to mid-market employers and credit unions. Competes with FCT for institutional retirement plan and wealth advisory mandates, particularly for employer 401(k)/PEP business.
Direct peers
- MEMBERS Trust Company: Direct peer: a credit union CUSO that provides trust, estate, and investment services to credit unions and their members. Overlaps directly with FCT's trust administration, investment agency, and embedded-advisor distribution through credit unions.
- TruStage (formerly CUNA Mutual Group's wealth/insurance division): Direct peer: TruStage (formerly the CUNA Brokerage Services / CUNA Mutual wealth and insurance arm) serves credit unions and their members with wealth management, trust, and insurance products. It shares FCT's credit-union-native distribution model and overlapping product set including annuities, life insurance, and retirement plan services.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
First Community Trust social profiles
Digital presenceFirst Community Trust financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Community Trust leadership team
Management profileNumber of profiles
Profiles12 records
First Community Trust subsidiaries and ownership
Company hierarchySubsidiaries1 record
First Community Trust funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
First Community Trust M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about First Community Trust
What does First Community Trust do?
First Community Trust, N.A. is a nationally chartered trust company that delivers comprehensive financial advice, investment management, and trust and estate administration services. It serves individuals through embedded advisors at credit union partner branches and serves organizations with qualified retirement plan solutions, non-profit investment services, and credit-union-specific investment products. An affiliated agency, FCT Insurance Solutions, supplies complementary insurance products including Medicare, life and disability coverage, annuities, and long-term care.
Is First Community Trust a public or private company?
First Community Trust is a private company. It is classified as corporate owned and is currently operating.
When was First Community Trust founded?
First Community Trust was founded in 2001. It employs 11 to 50 people.
Where is First Community Trust based?
First Community Trust is headquartered in Dubuque, United States, in the North America region.
How does First Community Trust make money?
Four revenue lines are on record. Wealth Management and Investment Advisory Services are the primary driver. The others are trust and Estate Administration Services, retirement Plan Services and insurance Products (through FCT Insurance).
Who are First Community Trust's main competitors?
Broad incumbents on record are Cetera Financial Group, Focus Financial Partners and LPL Financial. Emerging players are Sanctuary Wealth, Mariner Wealth Advisors, Carson Group, Stratos Wealth Holdings and OneDigital. Direct peers are MEMBERS Trust Company and TruStage (formerly CUNA Mutual Group's wealth/insurance division).
Does First Community Trust have an API?
No public API is recorded for First Community Trust.
What industry is First Community Trust in?
First Community Trust's product category is Wealth Management and Trust Services. Its primary akta.pro industry code is FSAAANAA, Personal & Family Trust Services. Its NAICS code is 52592.