First Class Community Credit Union is committed to serving and enriching the community while remembering we were created by postal employees and credit union pioneers. We will strive to create meaningful relationships with all members by providing them essential financial products and first-class service, while serving as their primary financial institution and trusted financial partner. First Class Community Credit Union will operate with integrity, respect, and care for both its members and employees.
The Credit Union Difference
WHAT IS A CREDIT UNION?
A credit union is a cooperative, not-for-profit financial institution organized to promote thrift and provide credit to members. It is member-owned and controlled through a board of directors elected by the membership. The board serves on a volunteer basis and is responsible for hiring a management team to lead the credit union. The board also works closely with the CEO to establish and revise policy, set dividend and loan rates, and direct certain operations.
Members are provided with a safe, convenient place to save and borrow at reasonable rates at an institution which exists to benefit them.
Credit unions are member-owned and are not driven by the goal of generating profits for stockholders. Each member owns one “share” of the organization and is therefore entitled to vote on important issues, such as the election of member representatives to serve on the board of directors.
The Des Moines Postal Employees Credit Union was formed in the year 1925 to serve postal employees. Over the years we grew to serve not only postal employees but their families. Through a series of mergers, we eventually became First Class Credit Union in 2003 and gained our community charter. In December of 2015, we changed our name to First Class Community Credit Union to reflect that we serve both postal employees and the community.