First Federal Credit Union Cedar Rapids, Iowa
First Federal Credit Union is a federal credit union headquartered in Cedar Rapids, IA, established in 1926 (NCUA charter 24673), and it is regulated and insured by the NCUA. At Q2 2026 it reported 9,947 members and total assets of $174.5M (down 4.3% from Q2 2025), the 20th largest of 65 credit unions headquartered in Iowa. Its net worth ratio was 7.29% at Q2 2026, in the well capitalized band.
Also written as First FCU
BankRegReports is independent of First Federal Credit Union and never asks for online banking logins or passwords.
Data as of · sourced from NCUA 5300 call reports. How we update
- Charter
- Federal credit union
- Regulator
- NCUA
- Deposit insurance
- NCUA (NCUSIF)
- NCUA charter number
- 24673
- Headquarters
- Cedar Rapids, IA
- Established
- 1926
- Total assets, Q2 2026
- $174.5M
- Assets vs Q2 2025
- -4.3%
- Members, Q2 2026
- 9,947
- Net worth ratio, Q2 2026
- 7.29%
- Latest call report
- Q2 2026, NCUA 5300 · First Federal Credit Union call report
- Asset rank in state
- 20th of 65 in Iowa
- Routing number
- 273972871
- Branches
- 8
It has 541 fewer members than on June 30, 2025 (-5.2%). Its net worth ratio was down 0.38 percentage points from 7.67% on June 30, 2025. 1- to 4-family residential and other consumer real estate loans are its largest loan category, $108.6M of $137.6M in total loans on its June 30, 2026 filing. Its 60-day delinquency ratio of 0.88% is above the 0.68% median of the 1,338 credit unions with $100M to $1B in assets for Q2 2026. Its 7.29% net worth ratio is below that band's 11.43% median.
Credit unions merged into First Federal Credit Union
Eaton Employees Credit Union (2017)
Frequently asked about First Federal Credit Union
How big is First Federal Credit Union?
At Q2 2026 it reported total assets of $174.5M and 9,947 members.
Where is First Federal Credit Union headquartered?
It is headquartered in Cedar Rapids, IA, United States.
When was First Federal Credit Union founded?
It was established in 1926, per NCUA records.
Is First Federal Credit Union FDIC insured?
No. The FDIC insures banks, not credit unions. It is a federally insured credit union (NCUA charter 24673): member shares are insured by the National Credit Union Share Insurance Fund, run by the NCUA, up to $250,000 per member, per insured credit union, for each account ownership category, the same limit the FDIC applies to bank deposits.
Who regulates First Federal Credit Union?
It is a federal credit union, chartered and supervised by the NCUA.
Is First Federal Credit Union well capitalized?
Its net worth ratio was 7.29% at Q2 2026, in the well capitalized band. NCUA considers a credit union well capitalized at a net worth ratio of 7% or higher.
What is First Federal Credit Union's delinquency ratio?
Its delinquency ratio was 0.88% at Q2 2026: loans 60 or more days past due as a share of total loans.
What is First Federal Credit Union's loan-to-share ratio?
Its loan-to-share ratio was 90.52% at Q2 2026: total loans as a share of member shares and deposits.
Credit Union Profile
- Headquarters
- Cedar Rapids, IA 52405
- Charter Type
- Federal credit union
- Primary Regulator
- NCUA
- Insurance
- NCUSIF
- Established
- 1926
- NCUA Charter #
- 24673
- RSSD ID
- 2693
- Members
- 9,947
- Potential members
- 313,009
Size & Membership
Profitability
Q2 annualizedCapital & Asset Quality
Peer comparison: credit unions of similar size
It ranks against 1,341 credit unions with $100M to $1B in assets, as of Q2 2026. It is in the top quartile on 0 of 7 ranked measures and in the bottom quartile on 6.
| Metric | This credit union | Peer median | Rank among peers |
|---|---|---|---|
| Net worth ratio Middle half of peers: 9.81% to 13.58% | 7.29% | 11.43% | under 10th bottom |
| Return on assets Middle half of peers: 0.43% to 1.23% | -0.36% | 0.81% | under 10th bottom |
| Return on equity Middle half of peers: 3.87% to 9.84% | -4.97% | 7.02% | under 10th bottom |
| Net interest margin Middle half of peers: 3.30% to 4.10% | 2.43% | 3.70% | under 10th bottom |
| Efficiency ratio Middle half of peers: 68.90% to 83.49% | 102.71% | 76.55% | under 10th bottom |
| Cost of funds Middle half of peers: 0.92% to 1.56% | 2.16% | 1.24% | under 10th bottom |
| Delinquency ratio Middle half of peers: 0.39% to 1.12% | 0.88% | 0.68% | 39th below |
| Yield on assets Middle half of peers: 4.53% to 5.37% | 4.60% | 4.92% | 29th position only |
| Loan-to-share ratio Middle half of peers: 62.05% to 86.41% | 90.52% | 75.66% | 84th position only |
Quarterly trends
Last 6 quarters of 5300 filings. Under each chart, Q2 2026 against Q2 2025. How these charts are built
$174.5M total assets against $182.4M; $152.0M total shares and deposits against $153.4M; $137.6M total loans against $144.5M.
$12.7M net worth against $14.0M.
7.29% net worth ratio against 7.67%.
90.52% loan-to-share ratio against 94.20%.
0.88% delinquency ratio against 1.74%.
-0.36% return on assets against 0.17%; -4.97% return on equity against 2.21%.
2.43% net interest margin against 2.06%.
9,947 members against 10,488.
Quarterly trend: last 6 quarters
| Quarter | Net worth ratio | ROA | Delinquency | Loan-to-share |
|---|---|---|---|---|
| June 30, 2026 | 7.29% | -0.36% | 0.88% | 90.52% |
| March 31, 2026 | 7.26% | -0.59% | 0.71% | 92.29% |
| December 31, 2025 | 7.32% | -0.82% | 1.25% | 94.18% |
| September 30, 2025 | 7.67% | -0.46% | 1.15% | 95.16% |
| June 30, 2025 | 7.67% | 0.17% | 1.74% | 94.20% |
| March 31, 2025 | 7.34% | -0.90% | 1.08% | 94.52% |
Scroll sideways to see every column.
Watch flags
The credit union posted negative net income relative to assets in its latest filing. Credit unions build net worth only through retained earnings, so sustained losses gradually weaken capital. BankRegReports flag, negative earnings.
How we read these figures
Glossary: net worth ratio, delinquency, ROA, loan-to-share. The net worth category is ours, from NCUA's 7% well and 6% adequately capitalized cutoffs. It is not NCUA's determination, which can differ. ROA, ROE and margin annualize the quarter; NCUA's Financial Performance Report annualizes the year to date (YTD). Peer rank interpolates size-band percentiles. Methodology.