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
Where First Class Community Credit Union is headquartered
LocationHeadquarters
- 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 offeringCore 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 profileSegments4 records
Ideal customer profiles4 records
First Class Community Credit Union technology and API
TechnologyTechnology 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 signalPartnerships
Four partnerships are on record, tiered core and minor.
- CO-OP Shared Branch NetworkcoreFirst 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 ResortminorAdventureland 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).
- BalanceminorBalance 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 InsuranceminorTruStage 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 assessmentDirect 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 social profiles
Digital presenceFirst Class Community Credit Union compliance and trust
Trust signalCompliance1 record
First Class Community Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
First Class Community Credit Union leadership team
Management profileNumber of profiles
Profiles1 record
First Class Community Credit Union funding detail
Funding detailFunding 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 investmentM&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?
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.
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.