Question 1

What is First Trust Credit Union?

Accepted Answer

First Trust Credit Union is a state-chartered, federally insured community credit union headquartered in Michigan City, Indiana. With over $180 million in assets and serving approximately 14,700 members, the credit union operates four full-service branch locations across northern Indiana. First Trust Credit Union specializes in providing personalized financial services to individuals and families in La Porte, Porter, Jasper, Newton, and Pulaski counties, emphasizing member relationships and community involvement.

The credit union operates on the cooperative principle of member ownership, with profits returned to members through competitive rates, lower fees, and enhanced services.

Question 2

When was First Trust Credit Union founded?

Accepted Answer

First Trust Credit Union was originally chartered on December 31, 1959, as La Porte County School Employees Federal Credit Union. Founded to serve school employees in La Porte County, the credit union was established to help members achieve economic independence through savings and prudent borrowing.

Over the decades, the credit union expanded its membership to include school staff members, health care providers, and other select employee groups across seven Indiana counties. In 2009, it underwent a significant transformation, converting to a state-chartered community credit union and adopting the name First Trust Credit Union. This change opened membership to anyone living or working in its service area, significantly broadening its reach and impact.

Question 3

Where is First Trust Credit Union headquartered?

Accepted Answer

First Trust Credit Union is headquartered at 950 E US Highway 20 in Michigan City, Indiana. The main office serves as the administrative hub and provides full-service banking to members in the Michigan City area.

Question 4

Where does First Trust Credit Union operate?

Accepted Answer

First Trust Credit Union operates four full-service branch locations across northern Indiana:
• Michigan City (Main Office): 950 E US Highway 20, Michigan City, IN
• La Porte: 402 J Street, La Porte, IN
• Valparaiso: 1404 E Lincolnway, Valparaiso, IN
• Wheatfield: 4259 W State Road 10, Wheatfield, IN

Membership is open to anyone who lives or works in La Porte, Porter, Jasper, Newton, or Pulaski counties in Indiana. The credit union also serves employees of select community partner organizations in Starke and White counties. Family members of current members are also eligible to join, with family defined broadly to include parents, children, spouses, siblings, grandparents, grandchildren, stepfamily, and adoptive relationships.

Additionally, members can access their accounts through the CO-OP Shared Branch network, which provides thousands of service locations nationwide, and the Xtend Shared Branch network covering Michigan, northern Indiana, and New York City.

Question 5

What services does First Trust Credit Union offer?

Accepted Answer

First Trust Credit Union provides a comprehensive range of financial products and services designed to meet diverse member needs:

Deposit Accounts:
• Share accounts (savings) with competitive dividends
• No-cost share draft accounts (checking)
• Business share accounts
• Share certificates with low minimum balance requirements
• Christmas Club and Vacation Club accounts

Lending Services:
• Real estate loans and mortgages (approved mortgage seller)
• Auto loans with competitive rates
• Personal loans
• Business loans
• Indirect consumer and business loans
• Credit builder loans
• Overdraft protection and overdraft lines of credit

Digital Banking:
• Mobile banking app with mobile check deposit
• Online banking platform (It's Me 24/7)
• Digital wallets
• Advanced security features including face, voice, and fingerprint recognition
• Instant debit card lock feature through the mobile app
• Bill payment services with no-cost bill payer
• e-Statements and account history downloads

Additional Services:
• ATM/Debit card programs with no-surcharge ATMs
• Insurance and investment sales
• Student scholarships
• In-school branches for financial education
• Audio response/phone-based banking
• Money orders
• Wire transfers

Question 6

What makes First Trust Credit Union unique?

Accepted Answer

First Trust Credit Union distinguishes itself through several key characteristics that reflect its "First in Trust, Trust in Service" mission:

Personalized Member Service: The credit union emphasizes building long-term, personal relationships with members. Staff members get to know members individually and their specific financial needs, creating a distinctly personal banking experience that sets First Trust apart from larger financial institutions.

Enhanced Insurance Coverage: Members benefit from NCUA insurance covering deposits up to $250,000, plus an additional $250,000 through Excess Share Insurance at no cost to members, providing total coverage of $500,000.

Technology Leadership: Despite being a community-focused credit union, First Trust prioritizes cutting-edge banking technology. The institution continually updates its digital services, offering modern conveniences like biometric authentication, instant card controls, and comprehensive mobile banking capabilities that rival much larger institutions.

Competitive Rates and Low Fees: As a not-for-profit cooperative, First Trust returns earnings to members through competitive loan rates, higher dividend rates on deposits, and elimination of many fees common at traditional banks. The credit union has maintained some of the lowest auto loan rates in the region.

Community Commitment: With over 65 years of service in northern Indiana, First Trust demonstrates deep roots in the communities it serves. The credit union supports financial education through in-school branches, offers student scholarships, and maintains a volunteer board of directors elected by members.

Question 7

What type of financial institution is First Trust Credit Union?

Accepted Answer

First Trust Credit Union is a state-chartered credit union federally insured by the National Credit Union Administration (NCUA). The credit union operates under Indiana state charter, having converted from federal to state charter in 2009.

As a member-owned financial cooperative, First Trust operates on a not-for-profit basis with the philosophy of "Not for Profit, Not for Charity, but for Service." Members are simultaneously owners and customers, with each member having equal voting rights regardless of account balance. The credit union is governed by a volunteer, unpaid board of directors elected by the membership.

All deposits are insured by the NCUA up to $250,000, with additional coverage through Excess Share Insurance. First Trust Credit Union is also a member of the Federal Home Loan Bank (FHLB), providing additional liquidity and lending capacity to serve member needs.

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About First Trust Credit Union in the United States