Sep, 30, 2025 — FIRST FEDERAL CREDIT UNION is a federal credit union headquartered in HIAWATHA, IA with 6 branch locations and about $179.85 million in total assets. Opened 100 years ago in 1926, FIRST FEDERAL CREDIT UNION has about 10,369 members and employs 26 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | FIRST FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 1035 N Center Point Rd HIAWATHA, IA 52233 |
| Phone: | (319) 743-7806 |
| Fax: | (319) 743-7810 |
| Website: | https://www.firstfedcu.com |
| Branches: | 6 branch locations |
| Members: | 10,369 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 24673 |
|---|---|
| Membership Type: | Community credit unions, urban or rural, other than those designated 'low income' |
| Corporate Credit Union: | No |
| Year Opened: | 1926 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $179,851,146 |
| CEO/Manager: | C. Thomas Chalstrom |
| Chairperson: | Mike Pickering |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 6,467,211 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 0 |
| Real Estate Loans | 112,978,097 |
| Unsecured Loans | 3,756,907 |
| Other Loans | 28,769,243 |
| TOTAL LOANS | 145,504,247 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -1,046,475 |
| Land And Building | 9,364,211 |
| Other Fixed Assets | 835,168 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 1,382,493 |
| All Other Assets | 0 |
| TOTAL ASSETS | 179,851,146 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 110,370 |
| Notes & Interest Payable | 13,300,000 |
| Accounts Payable & Other Liabilities | 154,786 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 25,347,169 |
| Regular shares | 17,926,370 |
| All Other Shares & Deposits | 109,637,090 |
| TOTAL SHARES & DEPOSITS | 152,910,629 |
| TOTAL LIABILITIES | 166,475,785 |
| Regular Reserve | 0 |
| Other Reserves | 2,404,912 |
| Undivided Earnings | 10,970,449 |
| TOTAL EQUITY | 13,375,361 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 179,851,146 |
| INCOME & EXPENSE | |
| Loan Income | 5,560,380 |
| Investment Income | 734,002 |
| Other Income | 490,484 |
| Total Employee Compensation & Benefits | 1,920,709 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 2,426,772 |
| Non-operating Income & (Expense) | 0 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 617,060 |
| Cost of Funds | 3,423,118 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | -557,372 |
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