What First Trust Credit Union does

First Trust Credit Union is a federally chartered, member-owned financial cooperative headquartered at 950 East US Highway 20 in Michigan City, Indiana (NMLS #399279, Routing 271291457). It serves individual consumers, small businesses, youth, and senior members in the Michigan City trade area, with extended geographic reach provided by participation in the Co-op Shared Branching and surcharge-free ATM network. The institution operates with a lean staff of approximately 17 employees and is regulated and insured by the National Credit Union Administration, with deposits federally insured to at least $250,000.

The credit union delivers a full suite of consumer and business banking products, including savings accounts, checking, money market, share certificates (CDs) yielding 0.80% to 3.65% APY, IRAs, auto loans starting at 4.49% APR, mortgages, home equity loans starting at 6.04% APR, unsecured personal loans, student loans, and recreational vehicle financing, alongside business accounts, business loans, and digital tools for business members. Youth and senior engagement is supported through the Tree House Kids Club, E-Teens Club, and Golden Apple Club, with scholarship programs reinforcing member recruitment pipelines. Technology is delivered through a combination of in-house digital presence and third-party CUSO platforms: an iOS and Android mobile application (offering mobile deposit, transfers, and credit score monitoring), an online banking portal, electronic statements and account alerts, the CU*Talk phone banking system powered by CU*Answers, the itsme247 loan origination platform, and the JoinMyCU online membership application platform.

Revenue is generated primarily through net interest spread on loans and deposits, supplemented by fee income from debit, credit, and prepaid gift cards, and revenue from insurance and retirement/wealth planning services. GTM is community-led: the credit union relies on its local branch presence, community involvement (school supply drives, scholarships), member testimonials, and digital self-serve channels to acquire and retain members. There are no publicly disclosed revenue figures, no funding rounds, no M&A activity, and no recorded leadership changes; the credit union operates as a stable, member-governed cooperative rather than a growth-stage enterprise.

Name

First Trust Credit Union

Legal name

First Trust Credit Union

Website

https://firsttrustcreditunion.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Short description

First Trust Credit Union is a federally chartered, member-owned credit union in Michigan City, Indiana, offering consumer and business banking products, loans, and digital services to individual members, small businesses, youth, and seniors across the region.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Retail banking services
• Consumer lending products
• Community credit union
• Deposit accounts
• Small business banking

Headquarters

HQ city

Michigan City

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. Interest Income from Lending: The primary revenue stream is interest income generated from various loan products including auto loans, mortgages, home equity loans, personal loans, student loans, and business loans. Rates are competitive with featured rates starting as low as 4.49% APR for auto loans and 6.04% for home equity.
2. Deposit Interest Spread: Revenue generated from the spread between interest paid on deposits (savings, checking, money market, CDs, IRAs) and interest earned on loans. Featured savings rates start at 0.10% APY with CD rates ranging from 0.80% to 3.65%.
3. Fee Income: Fees associated with various services including debit/credit cards, prepaid gift cards, and potentially other financial services. Specific fee structures are available in the Disclosures section.
4. Insurance and Wealth Management Services: Revenue from insurance services and retirement/wealth planning offerings provided to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels6 records

Core offering

First Trust Credit Union is a member-owned, community-based credit union headquartered in Michigan City, Indiana that provides retail banking products (checking, savings, money market, share certificates, IRAs) and consumer and small business loans (auto, mortgage, home equity, personal, student, RV/boat) to individuals and small businesses. The cooperative also delivers digital banking (online, mobile, CU*Talk phone banking), insurance, retirement and wealth planning, member loyalty programs, and shared branching through the CO-OP network.

Product overview

First Trust Credit Union offers a comprehensive suite of financial products and services organized into personal and business banking categories. The personal banking suite includes savings products (Savings Accounts, Money Market Plu$, Share Certificates/CDs, IRAs, Christmas/Vacation Clubs), checking accounts, and specialized youth programs (Tree House Kids Club, E-Teens Club, Golden Apple Club). Loan products span auto loans (as low as 4.49% APR), mortgages, home equity loans (as low as 6.04% APR), unsecured loans, recreational vehicle financing (boats/motorcycles/RVs), and student loans. The credit union also provides business services including business accounts, business loans, and business electronic services. Digital banking is delivered through Online Banking, a Mobile App (iOS/Android), Electronic Statements/Account Alerts, and CU*Talk phone banking. Additional services include debit/credit/prepaid cards, payroll deduction/direct deposit, retirement/wealth planning, insurance services, and Co-op ATM/Shared Branch network access.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Standard checking account offerings for individual members and households, available with debit card access, direct deposit, and electronic services.
• Personal Savings Accounts Basic savings accounts designed for individual members to build funds, with member ownership reflected through the cooperative structure.
• Money Market Plus Tiered money market deposit account offering competitive interest rates for members seeking higher yields on liquid balances.
• Share Certificates (CDs) Term deposit certificates providing fixed-rate returns for members over set maturity periods.
• IRAs Individual Retirement Accounts offered to members for tax-advantaged retirement savings.
• Christmas and Vacation Club Accounts Special-purpose savings club accounts that allow members to set aside funds for holidays or vacations throughout the year.
• New and Used Auto Loans Consumer auto financing for new and used vehicles with rates described as low, fast approval, and local decision-making.
• Mortgages Residential mortgage financing for members purchasing or refinancing homes, including first mortgages.
• Home Equity Loans Loans secured by the equity in a member's home, used for home improvements, debt consolidation, or other borrowing needs.
• Unsecured Personal Loans Non-collateralized consumer loans for personal borrowing needs.
• Boat, Motorcycle, and RV Loans Recreational vehicle financing for boats, motorcycles, and RVs offered to members.
• Student Loans Education financing for students pursuing higher education.
• Debit, Credit, and Prepaid Cards Card products including debit cards, credit cards, and prepaid cards for member transactions.
• Business Accounts Deposit account services tailored for local small businesses in the Michigan City community.
• Business Loans Credit facilities extended to local businesses for working capital, expansion, or operational needs.
• Business Electronic Services Electronic banking capabilities for business members including online and digital transaction tools.
• Insurance Services Insurance offerings provided to members as part of the credit union's financial services suite.
• Retirement and Wealth Planning Planning and advisory services for retirement and wealth management needs of members.
• Tree House Kids Club Youth savings and membership program for children offering age-appropriate financial benefits.
• E-Teens Club Teen-focused membership program combining saving tools with online financial education resources.
• Golden Apple Club Membership club for older adult and senior members, providing tailored benefits and resources.

Quantifiable outcome

• Auto loan rates as low as 4.49% APR
• +3 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

Five partnerships are on record, tiered core.

• Co-op Credit UnionscoreChannel Partner/ Reseller/ DistributorFirst Trust Credit Union participates in the Co-op Credit Union network providing members with access to surcharge-free ATMs and shared branch locations nationwide. This partnership extends the credit union's geographic reach beyond its single physical branch location, enabling members to access services when traveling or living outside the Michigan City area.
• CU*Answers (CU*Talk)coreTechnology or IntegrationCU*Talk is a phone/text banking service powered by CU*Answers, a credit union technology CUSO. This service enables First Trust members to access account information and perform transactions via telephone, providing accessibility for members without internet access or who prefer phone-based banking.
• itsme247 (Loan Origination Platform)coreTechnology or IntegrationFirst Trust uses the itsme247 loan origination platform for online loan applications. Members are directed to loans.itsme247.com/340 to apply for various loan products including auto loans, mortgages, and personal loans through a streamlined digital application process.
• JoinMyCU (Membership Platform)coreTechnology or IntegrationFirst Trust utilizes the JoinMyCU platform (forms.joinmycu.com) for digital membership applications, enabling prospective members to join the credit union online through a promotional landing page.
• National Credit Union Administration (NCUA)coreOthersFirst Trust Credit Union is federally chartered and insured by the NCUA, which insures member deposits to at least $250,000. The NCUA provides regulatory oversight and the shared branching network branding visible on the website.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Indiana University Credit Union: Another Indiana-based community credit union offering a full suite of consumer and business banking products. Comparable to First Trust as a fellow Indiana cooperative with community-charter focus and similar digital + branch distribution model.
• SchoolsFirst Federal Credit Union: Large California-based community credit union serving a defined membership group with full retail, mortgage, and wealth management offerings. Comparable as a cooperative member-owned institution with the same not-for-profit, community-chartered operating model.
• Purdue Federal Credit Union: Indiana-headquartered credit union — originally serving Purdue employees but now community-chartered — offering deposits, consumer loans, mortgages, and business banking. Directly comparable as an Indiana cooperative expanding beyond its original field of membership into community banking.
• Centra Credit Union: Indiana-based community credit union serving members across multiple Indiana counties with a similar full-service retail product set (checking, savings, loans, business banking). It is a direct comparable as a fellow Indiana cooperative competing in overlapping member segments with comparable branch-and-digital distribution.

Regional players

• Maps Credit Union: Oregon-based but multi-state community credit union offering similar deposit, lending, and digital banking products. Comparable as a community-charter cooperative expanding its membership model beyond a single employer/original sponsor.
• Teachers Credit Union (TCU): Indiana-headquartered community credit union serving a broad statewide membership with similar full-service retail and business offerings. Comparable as a fellow Indiana cooperative competing for the same consumer and small business wallet.
• Lake Michigan Credit Union: Large Michigan-headquartered credit union with national field of membership and full retail + business banking. Comparable as a community-charter credit union operating in the same Indiana/Michigan regional market with similar product breadth and digital capabilities.
• Horizon Bank: Indiana and Michigan community bank with branch presence in Michigan City (same market as First Trust). Comparable as a regional deposit-and-lending competitor in the same geographic footprint, though operating as a for-profit commercial bank rather than a cooperative.

Broad incumbents

• Old National Bank: Large Indiana-headquartered commercial bank with extensive Indiana branch presence including northwest Indiana. Comparable as a broader incumbent competing for the same local deposit and small-business lending relationships that First Trust serves.

Emerging players

• Alliant Credit Union: Online-first national credit union with strong mobile and digital banking capabilities, no physical branches, and competitive deposit rates. Comparable as a digital-channel competitor targeting the same nationally-mobile consumer base that First Trust reaches via the Co-op network.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/first-trust-credit-union

Compliance3 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 Trust Credit Union