A legacy of community service as a local credit union

Our credit union began humbly in the midst of the Great Depression when 20 employees of the Fairbanks-Morse Corporation in Beloit, Wisconsin, pooled their $5 shares so they could borrow securely at a time of global financial upheaval.

What began as a response to a local, immediate need has grown steadily into the credit union you know today.

Within two decades, the credit union, known as Fairbanks-Morse Employees Credit Union (F-M Credit Union), passed the $10 million asset mark, an incredible jump from the original $100 deposits. F-M Credit Union operated in the Fairbanks Morse plant on Park Avenue in Beloit until the early 1970s when land was acquired adjacent to the existing plant to construct the credit union's first standalone office. That office, completed in 1975, is still the credit union's main office.

The field of membership expanded in the 1990s beyond the plant employees, allowing anyone who lived or worked in Beloit to become a member of the credit union, renamed First Community Credit Union. At that time, the credit union's assets were about $24 million and more growth was in the works. Our Monroe office opened during the 1990s, which expanded membership to anyone who lived or worked in Green County. The original office was in Dick's Supermarket and later moved to the current location of 140 West Seventh Street.

By the early 2000s, First Community had expanded into Rock County and grew larger by acquiring Beloit College Credit Union. Two more mergers occurred in 2008 and 2010 involving Janesville Municipal Employees Credit Union and Rock County Employees Credit Union. With such growth in the Janesville community, First Community acquired the property recently vacated by the former Evergreen State Bank and consolidated all operations into this facility located on Pontiac Drive.

Around this time, First Community's Board of Directors and management team saw the rapid growth occurring in Northern Illinois and leased an office building in Machesney Park, Illinois. In 2019, the credit union expanded membership territory once again and now serves anyone who lives or works in DeKalb County, Illinois.

Today, First Community operates nine full-service branch locations in Beloit, Janesville, and Monroe, Wisconsin and Rockford, Belvidere, Freeport, and Roscoe, Illinois. With more than 25,000 members and $340 million in assets, FirstCCU is a Bauer Financial 5-Star Superior Safety rated credit union for more than 25 consecutive years.

Though we have grown substantially through the years, we are still here, we are still local, and we will always be member owned. 

First Community Credit Union is a member-owned financial co-op serving nine full-service branch locations in Beloit, Janesville, and Monroe, Wisconsin and Freeport, Rockford, Belvidere, and Roscoe, Illinois.

FirstCCU has been here for over 90 years, we're still local and always member-owned.