First Federal Credit Union

Overview / Commentary
1035 N Center Point Rd
Hiawatha, IA 52233

First Federal Credit Union is headquartered in Hiawatha and is the 18th largest credit union in the state of Iowa. It is also the 1,265th largest credit union in the nation. It was established in 1926 and as of March of 2024, it had grown to 30 employees and 11,163 members at 6 locations. First Federal Credit Union has a C+ health rating.

Field of Membership Restrictions

Membership in First Federal Credit Union is open to those who live, work, or worship in the Iowa counties of Benton, Buena Vista, Clay, Dickinson, or Linn.
See current membership details

Reviews (1)

Positive Experience

I have been a member of my credit union since I was in grade school. They started off with only one location in our city. Currently there is a second location. Next year there will be a third. I currently have my checking account and saving account at this institution. I previously have had certificates of deposit here, though currently I don't have any at this institution. I have moved my cd's to a different credit union because they are paying better rates. I pay no fees for my savings or checking account, other than the cost of checks. I used to go in person to the credit union branch often, however with the prominence of direct deposit, I don't frequently visit the branch. I do still drop by to turn in change or cash random checks I receive. I have always had a pleasant experience when visiting my credit union. I have also dealt with them on the phone. They usually have a hold time. Most of the time the people are pleasant.


Health Grade Components

NCUA #24673
Year Chartered1926
Primary Regulator
Profit Margin
Return on Assets - YTD-0.6%
Return on Equity - YTD-8.37%
Annual Interest Income$2.2MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$201.4MM$205.1MM
LoansQ1 2024vs Q1 2023$163.2MM$171.9MM
DepositsQ1 2024vs Q1 2023$156.2MM$156.2MM
Equity CapitalQ1 2024vs Q1 2023$14.5MM$14.9MM
Loan Loss AllowanceQ1 2024vs Q1 2023$1MM$1.3MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$1.9MM$1.8MM
Real Estate OwnedQ1 2024vs Q1 2023$162K$279K

Rates for First Federal Credit Union are currently being reviewed.


First Federal Credit Union Locations
Branch Office425 1st Ave SWCedar Rapids, IA 52405
Branch Office1035 N Center Point RdHiawatha, IA 52233
Branch Office901 11th St SW Ste 27Spencer, IA 51301-5500
Branch Office3810 Westdale Pkwy SWCedar Rapids, IA 52404
Branch Office2590 6th St Ste 205Marion, IA 52302
Branch Office205 N Union AveUrbana, IA 52345

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