First Choice Credit Union

What First Choice Credit Union does

First Choice Credit Union is a state-chartered, member-owned cooperative financial institution headquartered at 1055 S. Congress Avenue, West Palm Beach, Florida. Founded on September 29, 1929, as the Palm Beach County Postal Credit Union, it is the first credit union chartered in Palm Beach County and serves an approximately 95-year-old base of members across seven South Florida counties (Palm Beach, Broward, Martin, St. Lucie, Okeechobee, Glades, and Hendry). Membership eligibility extends to residents in the field of membership, federal employees and veterans, Florida state-licensed professionals (added in 1993), and immediate family members of existing members, with NCUA deposit insurance up to $250,000 per account.

The institution operates a full-stack consumer banking franchise spanning share savings, multiple checking tiers (Value, Value Plus, Fresh Start, Youth), Money Market, CDs, IRAs, and a lending book covering auto, home equity/HELOC, personal, recreational, and credit cards. Mortgage origination is delivered through a referral partnership with Premier Mortgage Associates (US Mortgage of Florida). The technology layer is assembled almost entirely from third-party platforms: Fiserv powers the online and mobile banking apps (iOS/Android), MeridianLink handles consumer and home-equity loan applications via a 24/7 lending center, SavvyMoney delivers VantageScore 3.0 credit monitoring with personalized loan offers, Zelle provides peer-to-peer payments, and TransUnion supplies the underlying credit data. Member-facing channels combine physical branches, FCCU-owned and Publix ATMs, the CO-OP Shared Branch network (5,000+ locations), video banking appointments scheduled through Calendly, and digital self-service.

Revenue is generated primarily through loan interest income (auto, HELOC, mortgage, personal, recreational, credit cards, certificate-secured) supplemented by a granular fee schedule covering monthly account maintenance, overdraft/NSF charges ($15 each), wire and stop-payment fees, ATM charges at non-FCCU machines ($2 each), card-service charges (cash advance, foreign transaction, rush order), and ancillary services (money orders, notary, safe deposit, coin counting). As a not-for-profit cooperative, FCCU does not have external shareholders, funding rounds, or M&A activity; it is governed by a volunteer member-elected board, and earnings are returned to members via lower fees, competitive deposit rates, and lending rate discounts.

Name

First Choice Credit Union

Legal name

First Choice Credit Union

Website

https://firstchoicecu.org

Company type

Private

Founded year

1929

Operating status

Operating

Headcount range

11–50 employees

Short description

First Choice Credit Union is a 95-year-old, member-owned Florida state-chartered credit union headquartered in West Palm Beach, serving consumers across seven South Florida counties with full-service retail banking, consumer lending, and digital channels built on Fiserv, SavvyMoney, Zelle, and MeridianLink integrations.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (522130)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Consumer banking services
• Credit union lending
• Auto loan financing
• Share savings accounts
• Home equity products

Headquarters

HQ city

West Palm Beach

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income generated from auto loans, home equity loans/HELOCs, mortgage loans, personal loans, recreational loans, credit cards, and certificate-secured loans. The credit union emphasizes competitive lending rates as a core value proposition, offering everyday low rates and possible rate discounts on auto loans.
2. Deposit Account Fees: Various fee income streams including monthly maintenance fees (Electronic Transaction Account $5/mo, Fresh Start Checking $10/mo, Value Plus Checking $5/mo below minimum), overdraft/NSF fees ($15/ea), stop payment fees ($15/ea), statement copy fees, wire transfer fees (incoming $10-$40, domestic outgoing $25), ATM fees at non-FCCU machines ($2/ea), and dormant account fees ($5/mo).
3. Card Services: Revenue from credit card cash advances (1% minimum or 3%, max $10), foreign transaction fees (1% for MasterCard and VISA debit/credit), and debit card rush order fees ($65).
4. Service Charges: Miscellaneous service fees including money orders ($2), official checks ($2-$5), notary services ($5), safe deposit box rental, check ordering, collection fees, account research ($20/hour), and coin counting (5% members, 10% non-members).

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels8 records

Core offering

First Choice Credit Union is a Florida-based, member-owned cooperative credit union providing consumer deposit accounts (checking, savings, money market, CDs, IRAs) and consumer lending products (auto loans, home equity/HELOC, mortgages, personal loans, credit cards). Services are delivered through physical branches, ATM networks, mobile and online banking, video banking appointments, and partner channels across seven South Florida counties.

Product overview

First Choice Credit Union offers a comprehensive suite of financial products and services through a traditional credit union model. The core banking platform centers on share accounts ($5 membership) and checking accounts (Value Checking, Value Plus Checking, Fresh Start Checking, Youth Checking), with savings options including Share Savings, High-Yield Savings, Holiday Club, Starfish Savings Club, and Round-Up Savings featuring 10% APY. The lending portfolio includes Auto Loans with rate discounts, Home Equity/HELOC products, Mortgage Loans via Premier Mortgage Associates, Personal Loans, Credit Builder loans, Holiday Loans, and Recreational Loans, with VISA Credit Cards transitioning from MasterCard in November 2025. Digital banking is delivered through Mobile Banking and Home Banking apps integrated with Zelle for instant transfers and Credit Score & More powered by SavvyMoney for VantageScore 3.0 monitoring. Additional member services include Video Banking appointments, Early Pay direct deposit access, Safe Deposit Boxes, eStatements, and the annual Tony Marasciullo Scholarship.

Differentiator

Problem solved

Functional benefit

Products and services

• Value Checking Basic consumer checking account with essential banking features and free first four ATM withdrawals at Publix per month. Targeted at South Florida consumer members seeking a fee-friendly everyday account.
• Value Plus Checking Enhanced checking account with competitive features and four free non-FCCU ATM withdrawals per month, thereafter $2 per transaction. Includes a $5 monthly fee below the $500 minimum balance requirement.
• Fresh Start Checking Checking account designed for members rebuilding credit history, with a $10 monthly service charge and eligibility features suited to credit-challenged individuals.
• Youth Checking Checking account for young members with no monthly fees and free first four withdrawals at Publix per month. Designed to introduce children and teens to personal banking.
• Share Savings Primary savings account that establishes membership in the credit union, with a $5 minimum balance requirement and a $1 membership fee. Required to maintain credit union membership.
• High-Yield Savings Savings account offering competitive dividend rates on deposited funds for members seeking higher yields on liquid deposits.
• Holiday Club Specialized savings account for holiday expenses with a $5 withdrawal fee and one free withdrawal per year.
• Starfish Savings Club Savings club account for children with a parent or guardian as joint owner, designed to build early savings habits.
• Money Market Accounts Interest-bearing account with a $2,500 minimum balance requirement and a $5 monthly fee below that threshold. Super Money Market tier requires $50,000 minimum.
• Certificates of Deposit (CDs) Term deposit accounts with various terms available and early withdrawal penalties of 180 days interest.
• Individual Retirement Accounts (IRAs) Retirement savings accounts including Traditional, Roth, and Coverdell Education IRAs, with a $25 annual fee and $25 close/transfer/rollover fee.
• Auto Loans Vehicle financing with everyday low rates and possible rate discounts. Includes new and used car loans, lease buyout refinancing, and car title loans, with a Young Adult Car Loans program.
• Home Equity/HELOC Home equity loans and lines of credit enabling members to access their home's equity for remodeling, new homes, dream vacations, or mortgage refinancing. Includes Home Equity Line of Credit, Home Equity Loan, No Insurance Home Equity Loan, and Non-Primary Residence Loan options.
• Mortgage Loans Mortgage services provided through Premier Mortgage Associates (US Mortgage of Florida) including purchase and refinance loans.
• Personal Loans Unsecured personal loans for various needs, including CD/Share Secured and Credit Builder options.
• VISA Credit Cards Credit card products transitioning from MasterCard to VISA network in November 2025, with cash advance and foreign transaction fees disclosed per regulatory requirements.
• Holiday Loans Seasonal personal loans for holiday expenses.
• Recreational Loans Loans for recreational vehicles and equipment purchases.
• Mobile Banking Full-featured mobile banking app for iOS and Android enabling account access, Mobile Check Deposit, transfers, bill payment, Card Hub management, Zelle, and Credit Score & More on the go.
• Online Banking (Home Banking) Online banking platform providing 24/7 access to accounts, eStatements, Bill Pay, account management, Zelle, and Credit Score & More.
• Video Banking Remote banking appointments via video chat for member convenience, schedulable through Calendly for face-to-face consultations.

Quantifiable outcome

• Auto loans with everyday low rates and possible rate discounts
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability5 records

Feature7 records

Partnerships

Six partnerships are on record, tiered core, major and minor.

• Zelle (Early Warning Services)coreTechnology or IntegrationPartnership with Zelle to provide peer-to-peer payment services. Members can send money directly from their FCCU account to enrolled recipients using email or mobile number. Transaction completes within minutes. Enrollment is integrated into online and mobile banking.
• SavvyMoneycoreTechnology or IntegrationSavvyMoney provides the Credit Score & More program pulling credit data from TransUnion using VantageScore 3.0 model. Offers free daily credit score monitoring, email alerts for changes, and personalized loan offers. Does not affect credit scores through soft inquiries.
• CO-OP Shared BranchmajorChannel Partner/ Reseller/ DistributorCO-OP Shared Branch network provides members access to 5,000+ branch locations nationwide for deposits, withdrawals, and other transactions. Members must present photo ID, ATM/debit card, and PIN.
• US Mortgage of Florida (Premier Mortgage Associates)majorChannel Partner/ Reseller/ DistributorMortgage services partnership providing members access to mortgage professionals for home purchases, refinancing, and construction loans. Contact Tony Acquaviva at (561) 886-0300.
• PublixminorChannel Partner/ Reseller/ DistributorATM network partnership providing free withdrawals at Publix supermarket locations. Youth, Fresh Start, and Value Checking accounts receive first 4 free withdrawals per month.
• FiservcoreTechnology or IntegrationDigital banking platform provider powering online banking, mobile banking app (IFS Banking), and related banking infrastructure. Mobile app available on iOS and Android stores.

Scale indicators3 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Achieva Credit Union: Florida-based credit union headquartered in Dunedin serving the Tampa Bay region with community-based banking, lending, and digital products; structurally similar to FCCU as a regional cooperative institution.
• Suncoast Credit Union: Large Florida-headquartered credit union serving members across the state with a similarly broad deposit, lending, and digital banking product suite; the most directly comparable Florida-based cooperative financial institution to FCCU.
• VyStar Credit Union: Major Florida-headquartered credit union with comprehensive retail banking, mortgage, and digital products serving members across North and Central Florida - a directly comparable full-service Florida cooperative.
• MidFlorida Credit Union: Florida-based community credit union operating branches across central Florida with comparable personal banking, lending, and digital service offerings to First Choice Credit Union.

Emerging players

• Chime: Leading U.S. digital consumer banking platform offering fee-free checking, early direct deposit, and mobile-first experience - relevant competitor for FCCU's digitally-active Florida members who may migrate to national neobanks.
• Alliant Credit Union: Online-first U.S. credit union with national membership eligibility, free checking, and competitive deposit rates - useful peer for benchmarking FCCU's digital strategy and member acquisition model against cooperative competitors unconstrained by geography.
• Digital Federal Credit Union (DCU): Large digitally-focused U.S. credit union emphasizing online/mobile banking, high-yield savings, and a broad membership field - comparable to FCCU's digital-first investment strategy but at significantly greater scale and geographic reach.

Regional players

• Fairwinds Credit Union: Florida-based credit union headquartered in Orlando with full-service retail banking and lending offerings, serving as a comparable mid-sized Florida cooperative financial institution.
• Tropical Financial Credit Union: Florida-headquartered credit union serving South Florida members with community-based banking and lending - direct geographic overlap with FCCU's seven-county service area.
• SchoolsFirst Federal Credit Union: Large field-of-membership credit union serving a defined affinity group (school employees) with comprehensive retail and lending products; relevant peer for FCCU's affinity-based (federal employees, professionals) membership model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/FirstChoiceCreditUnion
• Instagraminstagram.com/officialfirstchoicecu
• LinkedInlinkedin.com/company/first-choice-credit-union

Compliance8 records

Revenue estimate

Valuation estimate

Number of profiles

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 Choice Credit Union