First Class Community Credit Union

First Class Community Credit Union is a federally insured, member-owned not-for-profit cooperative headquartered in West Des Moines, Iowa, providing consumer and small-business banking, lending, and digital financial services to residents across 14 Iowa counties and Iowa postal employees.

Company typePrivate
Founded1925
HeadquartersWest Des Moines, United States
Headcount11–50
GTM typeB2C
OfferingServices

What First Class Community Credit Union does

First Class Community Credit Union is a federally insured, member-owned not-for-profit financial cooperative headquartered in West Des Moines, Iowa, with a second branch in Des Moines. Founded circa 1925 by and for U.S. postal employees, the institution now serves individuals, families, youth, and small businesses across 14 Iowa counties plus all Iowa-based U.S. Postal Service employees. Membership requires a $25 share deposit and is governed by a volunteer board elected by the membership.

The credit union operates a full-service consumer banking franchise spanning deposit products (share draft checking, savings with bucket sub-accounts, share certificates, traditional and Roth IRAs, youth and teen accounts) and consumer and small-business lending (first mortgages, home equity loans and lines, auto loans including a first-time buyer program, motorcycle and RV loans, personal and debt consolidation loans, student loans, and Mastercard consumer and business credit cards). Operational technology is delivered via the "First Class Access" digital banking platform with iOS and Android mobile apps, mobile check deposit, bill pay, and online loan origination; electronic signature and account opening flow through DocuSign; and identity verification for out-of-state shared branching is handled by IDCheck (QR code plus selfie plus OTP). Distribution combines two physical branches, drive-up banking, telephone banking, surcharge-free ATMs, and access to over 5,000 CO-OP Shared Branch locations nationwide. Supplementary services are sourced through partnerships: TruStage for insurance, Balance for financial education and credit counseling, and AutoSmart for vehicle purchase support.

Monetization follows the standard credit union model: net interest income from the loan portfolio is the primary revenue driver, supplemented by deposit account fees (overdraft/privilege pay up to $500, ATM, and wire fees), card interchange and annual fees on Mastercard products, and commission or referral income from TruStage insurance placements. Loan pricing is competitive and credit-quality dependent (auto loans from 4.49% APR, home equity from 5.00% APR, first mortgages from 5.75% APR, personal loans from 8.49% APR). The strategic posture is maintenance-oriented: the Board announced a proposed merger with Credit Union 1 in June 2026, though the related member vote was postponed pending further evaluation.

First Class Community Credit Union firmographics

Firmographics

Name: First Class Community Credit Union
Legal name: First Class Community Credit Union
Website: https://gofirstclass.org
Company type: Private
Founded year: 1925
Operating status: Operating
Headcount range: 11–50 employees
Short description: First Class Community Credit Union is a federally insured, member-owned not-for-profit cooperative headquartered in West Des Moines, Iowa, providing consumer and small-business banking, lending, and digital financial services to residents across 14 Iowa counties and Iowa postal employees.
Ownership category
akta.pro rank

First Class Community Credit Union industry classification

Industry

Product category: Retail Banking
NAICS: Credit Unions (52213), Credit Card Issuing (522210), Consumer Lending (522291)
SIC: Personal Credit Institutions (6141)
akta.pro primary industry: Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

Retail banking services
Consumer lending
Mortgage loans
Deposit accounts
Credit union services

Where First Class Community Credit Union is headquartered

Location

Headquarters

HQ city: West Des Moines
HQ country: United States
HQ region: North America

Offices2 records

Markets served

First Class Community Credit Union business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others

Revenue model

Loan Interest Income: Interest income from various loan products including mortgages, home equity, auto loans, personal loans, student loans, and recreational vehicle loans. Primary revenue driver for the credit union.
Deposit Account Fees: Various account-related fees including overdraft/privilege pay, ATM fees for out-of-network usage, wire transfer fees, and potentially monthly service fees for certain account types.
Card Services: Interchange fees from debit and credit card transactions, plus annual fees on certain card products.
Insurance Products: TruStage Insurance products offered as member benefits, generating referral or commission income.

Pricing tiers

Model	Billing	Price
Other	Monthly	Personal Loans - APR starting at 8.49%
Other	Monthly	First Mortgage Loans - 5.75% APR
Other	Monthly	Auto Loans - APR starting at 4.49%
Other	Monthly	Home Equity Loans - 5.00% APR
Other	Monthly	Membership Account - $25 minimum deposit
Unit Pricing	One time/ perpetual license	Adventureland Tickets - Member Discounts

Go-to-market motion1 record

Distribution channels8 records

Marketing channels5 records

First Class Community Credit Union product offering

Product offering

Core offering

First Class Community Credit Union is a not-for-profit, member-owned financial cooperative that provides consumer banking products including checking accounts, savings accounts, share certificates, IRAs, youth accounts, consumer and business credit cards, debit cards, and VISA gift cards, alongside a broad consumer lending portfolio covering first mortgages, home equity loans and lines of credit, auto and motorcycle loans, recreational vehicle loans, personal loans, debt consolidation loans, and student loans. Services are delivered through two physical branches in the Des Moines metro area (West Des Moines and Des Moines), comprehensive online and mobile banking, and the CO-OP Shared Branch Network providing access to 5,000+ branch locations nationwide.

Product overview

First Class Community Credit Union is a not-for-profit financial cooperative offering a comprehensive suite of banking products and services primarily serving members in central Iowa. The core offerings include deposit products (checking, savings, share certificates, and IRAs), consumer lending (mortgages, home equity, auto loans, personal loans, and credit cards), and digital banking services. The institution differentiates through its CO-OP Shared Branch Network participation enabling nationwide branch access, TruStage insurance partnerships, AutoSmart vehicle buying services, and financial education through Balance. Products are delivered through two physical branches (Westown Parkway in West Des Moines and Euclid in Des Moines), comprehensive online and mobile banking platforms, and 5,000+ shared branch locations.

Differentiator

Problem solved

Functional benefit

Products and services

Checking Accounts

Quantifiable outcome

Deposits federally insured by NCUA to at least $250,000
+1 more outcomes

Companies that use First Class Community Credit Union

Customer profile

Segments4 records

Ideal customer profiles4 records

First Class Community Credit Union technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration7 records

Feature4 records

First Class Community Credit Union partnerships and signals

Strategic signal

Partnerships

Four partnerships are on record, tiered core and minor.

CO-OP Shared Branch NetworkcoreTechnology or IntegrationFirst Class Community Credit Union participates in the CO-OP Shared Branch Network, providing members access to over 5,000 branch locations nationwide. At participating shared branches, members can perform deposits, withdrawals, transfers, balance inquiries, loan payments, credit card cash advances, and purchase travelers checks and money orders.
Adventureland ResortminorGTM or Marketing PartnerAdventureland Park partnership provides First Class Community Credit Union members with discounted theme park tickets. Gold Season Pass available for $149.99 and single-day tickets for $37.99 using promotional code CREDITUNION. Proceeds support the Credit Union Political Action Committee (CUPAC).
BalanceminorStrategic or Co-development PartnerBalance provides financial education services including money management counseling, credit counseling, and debt repayment counseling to First Class Community Credit Union members. Referenced in loan department discussions for members seeking debt consolidation alternatives.
TruStage InsuranceminorGTM or Marketing PartnerTruStage Insurance products offered as member benefits through a partnership that provides discounted insurance coverage including auto, home, life, and other insurance products tailored for credit union members.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

First Class Community Credit Union competitors and assessment

Company assessment

Direct peers

University of Iowa Community Credit Union (UICCU): Iowa-based community credit union serving the Corridor and broader central Iowa. Comparable member eligibility model (community + employer groups), full-service deposit and consumer lending, and shared digital banking expectations.
Veridian Credit Union: Waterloo, Iowa-based credit union serving members across multiple Iowa counties. Closely comparable in size, community credit union model, deposit and consumer loan product mix, and digital services.
Community Choice Credit Union: Iowa-headquartered credit union serving the Des Moines metro and surrounding counties. Overlaps on consumer deposit and lending products, digital channel expectations, and local community banking presence.
GreenState Credit Union: Iowa-headquartered credit union and one of the largest in the state with broad consumer and commercial banking. Direct overlap in member base, product set (mortgages, auto, cards), and digital banking experience.
Ascentra Credit Union: Iowa and Illinois Quad Cities-area community credit union with consumer lending, mortgages, and digital banking. Comparable credit union structure, member-owned model, and community-bank positioning.
Affinity Credit Union: Iowa community credit union serving multiple counties with consumer deposits, loans, and digital services. Comparable in community credit union structure, geographic Midwestern footprint, and product breadth.
Greater Iowa Credit Union: Ames-based community credit union serving Story County and surrounding areas. Overlaps directly with First Class's central Iowa footprint and offers a similar suite of consumer deposit, lending, and card products.
Des Moines Metro Credit Union: Local Des Moines credit union directly competing for members in the same Polk County geography. Closely comparable in branch-based service, community focus, and core consumer banking product set.

Regional players

Bankers Trust: Iowa-based regional commercial bank with a strong Des Moines presence. Comparable in local market, consumer and small business banking services, but operates as a for-profit bank rather than a credit union.
Raccoon Valley Bank: Perry, Iowa-based community bank serving Dallas County and surrounding areas. Competes in the same central Iowa deposit and consumer lending market but as a community bank rather than a credit union.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

First Class Community Credit Union compliance and trust

Trust signal

Compliance1 record

First Class Community Credit Union financial estimates

Financial estimate

Revenue estimate

Valuation estimate

First Class Community Credit Union leadership team

Management profile

Number of profiles

Profiles1 record

First Class Community Credit Union funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

First Class Community Credit Union M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about First Class Community Credit Union

What does First Class Community Credit Union do?

Is First Class Community Credit Union a public or private company?

First Class Community Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.

When was First Class Community Credit Union founded?

First Class Community Credit Union was founded in 1925. It employs 11 to 50 people.

Where is First Class Community Credit Union based?

First Class Community Credit Union is headquartered in West Des Moines, United States, in the North America region.

How does First Class Community Credit Union make money?

Four revenue lines are on record. Loan Interest Income is the primary driver. The others are deposit Account Fees, card Services and insurance Products.

Who are First Class Community Credit Union's main competitors?

Direct peers on record are University of Iowa Community Credit Union (UICCU), Veridian Credit Union, Community Choice Credit Union, GreenState Credit Union, Ascentra Credit Union, Affinity Credit Union, Greater Iowa Credit Union and Des Moines Metro Credit Union. Regional players are Bankers Trust and Raccoon Valley Bank.

Does First Class Community Credit Union have an API?

No public API is recorded for First Class Community Credit Union.

What industry is First Class Community Credit Union in?

First Class Community Credit Union's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus). Its NAICS code is 52213 and its SIC code is 6141.