Since 1962, First Community Credit Union has operated on a simple conviction: every financial decision should benefit our members and the communities we serve, not outside shareholders.
Learn About Our MissionThe phrase "community first" is not a marketing slogan at First Community Credit Union — it is the legal and operational foundation of everything we do. Credit unions are structured as financial cooperatives, which means every account holder is a member-owner with an equal vote in how the institution is governed.
When our credit union earns revenue, those funds are not paid out as dividends to outside investors. Instead, they are reinvested to improve member services, fund financial literacy initiatives, and keep rates competitive. Our board of directors is elected by the membership, ensuring that the voices guiding our strategy belong to the people we serve.
This structure has allowed First Community Credit Union to maintain below-market loan rates, above-average savings yields, and a fee schedule that consistently undercuts the industry average — not as a promotional strategy, but as the natural result of operating in your best interest every day.
The cooperative model is not theoretical. It produces measurable, tangible differences in the financial products and services available to our members:
Every member holds an equal ownership stake. Your $5 share account makes you a co-owner with full voting rights in annual elections.
Loan approvals, rate-setting, and new product launches are decided by local staff and a member-elected board — not distant corporate algorithms.
Surplus earnings flow back to members through better rates, enhanced services, and community reinvestment programs rather than shareholder dividends.
We invest in member financial health through free workshops, one-on-one counseling, and online resources covering every life stage.
The table below illustrates how First Community Credit Union's cooperative model translates into concrete member advantages across five key dimensions.
| Dimension | First Community Credit Union | Typical Commercial Bank |
|---|---|---|
| Ownership structure | Member-owned cooperative — no outside shareholders | Shareholder-owned corporation |
| Profit distribution | Returned to members via better rates and services | Paid to stockholders as dividends |
| Loan decisions | Made locally by community staff | Often centralized or algorithm-driven |
| Financial literacy | Free workshops and one-on-one counseling for members | Limited; typically fee-based advisory services |
| Deposit insurance | NCUA-insured up to $250,000 per account category | FDIC-insured up to $250,000 per account category |
For more information on how credit unions are regulated and what protections they provide, visit the National Credit Union Administration consumer resources page at ncua.gov.
Putting community first extends beyond the products we offer. First Community Credit Union actively invests in the financial well-being of the neighborhoods we serve through programs designed to create lasting economic opportunity.
Our CUDE-certified advisors lead free monthly workshops at branch locations and community centers. Topics include building and repairing credit, first-time homebuyer preparation, retirement savings strategies, and protecting yourself from financial fraud. All workshops are free and open to members and non-members alike.
Children and teenagers can open youth savings accounts with no minimum balance requirements. Our youth financial literacy curriculum, delivered in partnership with local schools, teaches budgeting and saving habits that last a lifetime.
We provide low-rate business loans and free financial consulting to local entrepreneurs. Because our lending decisions are made locally, we can consider the full picture of a small business's potential, not just a credit score algorithm.
A portion of our annual revenue is designated for community grants supporting local nonprofits, food security programs, housing assistance organizations, and educational scholarships for members and their families.