Tag Archives: First Financial Federal Credit Union

Celebrating 89 Years: Why Banking with a Credit Union is the Right Choice

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“We thank our valued members for their continued support, loyalty, and membership with us over the past 89 years. Our commitment to serving their financial needs is our top priority today and everyday.” -Issa Stephan, President/CEO (pictured above).

Today marks an exciting milestone for First Financial Federal Credit Union — we’re celebrating 89 years of service! Since we were founded back in 1936, we’ve remained committed to providing members with financial solutions that prioritize their needs. As we honor our history, we also recognize why credit unions like ours continue to be a great choice to help manage your financial future.

A Brief History of Credit Unions

The concept of credit unions dates back to 1849 when Friedrich Raiffeisen established the first cooperative lending institution in Germany, designed to provide financial access to underserved communities. By 1900, word had spread all the way to Quebec, Canada, where Alphonse Desjardins founded the first cooperative financial institution in North America. The concept was soon adopted by Pierre Jay, the Finance Commissioner of one of America’s great pioneer states – Massachusetts.

In the United States, credit unions gained traction in the early 20th century, leading to the passage of the Federal Credit Union Act in 1934, by President Franklin D. Roosevelt – which allowed for the creation of federally chartered credit unions nationwide. Over the years, credit unions have grown into trusted financial institutions that continue to put people over profits, offering their members a community-focused alternative to traditional banking.

The Story of First Financial

First Financial’s roots trace back to 1936 during the Great Depression, when a group of Asbury Park schoolteachers came together to form Monmouth County NJ Teachers Federal Credit Union. Under the leadership of Harold “Pop” Shannon, the credit union expanded to include employees of the Monmouth and Ocean County Boards of Education. Over time, our membership grew to include municipal employees, hospital workers, and small businesses – leading to several name changes to reflect our evolving community.

In 2003 we became a community credit union – serving anyone who lives, works, worships, volunteers, or attends school in Monmouth or Ocean Counties. In 2006 we adopted our current name, First Financial Federal Credit Union – continuing our tradition of providing excellent financial services while keeping our members’ best interests at heart.

Why Bank with a Credit Union Instead of a Traditional Bank?

Credit unions are typically not-for-profit, member-owned financial institutions – which means they can offer higher interest rates on savings, lower fees on loans, and generally more personalized service compared to the shareholder profit of banks.

  • Fewer Fees & More Flexibility – Credit unions prioritize service over profit, meaning you’ll encounter fewer fees and more flexible account options.
  • Lower Loan Rates – Because credit unions are member-owned and not-for-profit, they return earnings to members in the form of lower interest rates on loans.
  • NCUA Insurance Protection – Just like banks are insured by the FDIC, federally insured credit unions are backed by the National Credit Union Administration (NCUA). Member deposits are protected up to $250,000, ensuring financial security and peace of mind.

Exclusive Member Benefits at First Financial

When you partner with First Financial, you gain access to exclusive member benefits that increase the more you bank with us. Our members enjoy:

  • Referral Programs
  • Savings on Tax Services
  • Sweepstakes Opportunities
  • Relationship Banking Discounts
  • Notary Services
  • Reduced Loan Rates
  • No-Cost Financial Consultations
  • And so much more that you won’t find at a traditional bank!

Join Us in Celebrating 89 Years of Member-Focused Banking

For 89 years, First Financial has been dedicated to serving our members and the local community. As we celebrate this milestone, we invite you to experience the credit union difference firsthand. If you’re not already a member, now is the perfect time to make the switch and enjoy the financial advantages of banking with a credit union. For more information on our services or to become a member, call us at 732.312.1500 or visit a branch today!

*A First Financial membership is available to anyone who lives, works, worships, volunteers or attends school in Monmouth or Ocean Counties. A $5 deposit in a Base Savings Account is required to establish membership prior to opening any account/loan. See credit union for details.

First Financial Member Spotlight: Michael Balsamo

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For more than 20 years, Michael Balsamo has trusted First Financial as his banking partner. As a seasoned realtor with a deep commitment to his clients, Michael values the personalized service and support he experiences every time he walks into a First Financial branch. “Whenever I walk into a branch, everybody says hello and makes me feel like a member of their family,” he shares. With a special appreciation for the Toms River branch, Michael often works closely with Branch Manager Brian Lang and his team, who he says consistently provide “top-notch” service.

As a full-time real estate agent with REMAX Revolution, Michael’s clients depend on him to recommend reliable mortgage solutions, and First Financial is at the top of his list. In addition to mortgage services, Michael finds First Financial’s online banking tools essential for managing his day-to-day transactions. “I pay my bills online, and if I ever have a question, their 800-number support is always helpful,” he says. First Financial’s blend of convenience and reliability allows him to bank wherever and whenever he needs to, making it easy to stay on top of his finances.

Reflecting on his long-standing relationship with First Financial – Michael confidently shares, “I would never think of banking with anyone else. It’s been over 20 years, and I’m never going to leave.”

We’re honored to be part of Michael’s financial journey and are committed to providing him with exceptional service. Be sure to check out his video interview below.

How to Join First Financial

If you live, work, worship, volunteer, or attend school in Monmouth or Ocean Counties in NJ, you’re eligible to become a First Financial member. Businesses in Monmouth or Ocean Counties and our community partners are also eligible for membership. To join, simply open a savings account with $5 — it’s that easy! Once you’re a member, your immediate family can also sign up. To get started, call us at 732.312.1500, email info@firstffcu.com, or stop by any of our local branches.

First Financial Employee Spotlight: Nancy Culp

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At First Financial, we deeply value the dedication and hard work of our employees, who play a crucial role in making our services personalized and impactful. Their commitment to our members and the community is what sets us apart. In this spirit, we are thrilled to shine the spotlight on another one of our remarkable team members of 32 years – Nancy Culp, Chief Lending Officer. Nancy’s passion for service and her unwavering dedication to our members’ financial well-being, truly embodies what First Financial is all about. Her approach to banking is deeply rooted in the values of community and personalized touch. Nancy goes beyond loan transactions – she is passionate about building relationships and a close-knit, hometown feel that fosters trust. Keep reading to check out our interview with Nancy.

What was your background/work or education experience in your field before you began working at the credit union? I can hardly remember my life before the credit union. Prior to that I was a collections supervisor for the First National Bank of Toms River. I attended Ocean County College and Seton Hall University.

Can you walk us through one of your most important tasks and explain why it’s significant for our members? The credit union is all about members, as a cooperative the more members we have sharing in these benefits makes us different than big banks. Giving our members great service and products gives me personal satisfaction. Knowing that I make a difference in someone’s financial life is what drives me.

What personal values do you bring to your role here at the credit union and how do you see these values reflected in the work of First Financial? I believe the most important values I bring to my role are authenticity, determination, ethics and leadership. Team work in the organization has been tremendous.

Can you describe the team you work with and how you collaborate? The key to working with my different teams (the Branches and Loan Department) is constant communication.

What’s the best thing about being part of the team at First Financial? Each team member brings something to the table. First Financial is like a family and that translates to the personalized service we give to our members every day.

In your opinion, what sets First Financial apart from other financial institutions?Personalized service, and quick turnaround on questions and lending. Our employees really care about the members.

What’s something unique or surprising about you that members or other co-workers might not know? I am an amateur astronomer and an avid photographer.

If you could give one piece of financial advice to our members, what would it be?Don’t spend more than you can afford and always have an emergency fund.

Nancy’s vision for First Financial is clear – to build lasting relationships based on trust and financial education. By focusing on the well-being of our members and offering a listening ear, Nancy and her team ensure that our members feel valued and understood. We invite you to learn more about First Financial and how we, guided by employees like Nancy – are dedicated to providing exceptional service and support to our members. Visit our website to discover the First Financial difference.

Want to join the team at First Financial? Check out our careers webpage and apply online for current employment opportunities.

Subscribe to our First Scoop blog and keep an eye out for more stories and updates from us, as we continue to highlight the amazing people that make First Financial stand out.

First Financial Employee Spotlight: Michael Walker

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At First Financial, our employees are a crucial part of our business. We’re proud to feature Michael Walker, our Assistant Vice President of IT – whose dedication over the past eight years has significantly advanced our technological capabilities. Michael’s passion for his work and his commitment to our members’ needs, stands at the heart of his contribution. Check out our employee interview and learn all about Michael and his invaluable work here at First Financial.

What was your background/work or education experience in your field before you began working at the credit union? Curious about the capabilities of personal computers, I enrolled as a Computer Science major at Medgar Evers College–CUNY in New York City. While meeting my degree requirements, I took positions as a Computer Sales Representative and Systems Engineer. Years later, I moved to corporate IT Systems Management working largely for notable public relations firms. Along the way, I’d enhance my educational training by obtaining a Certification in Business Technology from New York University as well.

Can you walk us through one of your most important tasks and explain why it’s significant for our members? Our backend computer processes are the digital “face” of First Financial. Members depend on our technology to safeguard, manage, and grow their financial resources. In turn, the most important task for me is to ensure that our systems remain state-of-the-art, secure, available, and reliable while meeting the needs and expectations of our membership.

What personal values do you bring to your role here at the credit union and how do you see these values reflected in the work of First Financial? I was taught by my parents to always do a thorough job and exhibit pride in my work. Therefore, I always take personal ownership of the solutions I deploy when meeting the needs of our members. First Financial exhibits these values by engaging in more personal relations with our members than what is possible at other financial institutions. This ownership of their interests results in a better and more personalized banking experience for our members.

How do you personalize your service to meet the diverse needs of our members?Our IT staff has frequent opportunities to observe feedback on our technology solutions and we act upon them. We request useful changes from our developers and we communicate important changes so that our members know in advance what to expect. Most of all, we know our members come first and as such, we always work with an urgency to keep their satisfaction high.

What’s the best thing about being part of the team at First Financial? First Financial is truly a family environment. We care about one another and there is never a hesitation to jump in and assist different departments when the need calls for it. Every area’s contributions to the organization are known and recognized.

In your opinion, what sets First Financial apart from other financial institutions?As a credit union, we came to be with a desire to help our local community with the financial resources they needed. We are invested in our community, they are not just a number. We know our members by name and their goals become our goals.

What’s something unique or surprising about you that members or other co-workers might not know? Through childhood hobbies such as building model cars and electric trainsets, I’ve been exposed to schematics and technical diagrams my entire life. What I’ve always excelled at, is making the complex understandable for folks not drawn to such topics.

What message would you like to share with the members of First Financial? My job doesn’t end when I leave the office at the conclusion of the work day. Your experience with First Financial matters to me in countless ways. I am constantly thinking about ways to improve your experience with us, technologically and otherwise.

If you could give one piece of financial advice to our members, what would it be?Use your money wisely to invest in life experiences rather than on things with a short-term impact. In time, you’ll find that life experiences that warm the heart and solidify bonds were the best investments you ever made, and they create the most lasting memories.

Michael represents the heart and soul of what our employees stand for at First Financial: dedication, innovation, and genuine care for our members. His efforts ensure that not only are our systems reliable, but also that our members always feel supported. This interview offers one small window into Michael’s position and the large role he plays within our organization.

Want to join the team at First Financial? Check out our careers webpage and apply online for current employment opportunities.

Subscribe to our First Scoop blog and keep an eye out for more stories and updates from us, as we continue to highlight the amazing people who make First Financial stand out.

First Financial Member Spotlight: Lorna Cooper-Piver

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“All through the years I’ve been coming, all 47 years – First Financial has been a solid place to bank.”

Since March of 1976, First Financial has had the privilege of being part of Lorna Cooper-Piver’s financial journey. Lorna’s story is not just one of long-standing membership, but also a testament to the unwavering trust and support she has found in banking with us.

Lorna’s connection with First Financial began while she was still a high school senior. Encouraged by her father, she opened a savings account. It was a step toward building a secure financial future, and little did she know – it would mark the beginning of a decades-long relationship.

Toward the beginning of her membership, Lorna applied for a car loan that was quick and simple to attain. This showcased our commitment to providing opportunities for our members, even those just starting out in their financial journey.

Lorna’s story is a reminder of the enduring relationships we build with our members. We’re not just a financial institution – we’re a partner in your financial well-being, offering reliability and support through every stage of life.

Check out our video interview with Lorna and learn more about her remarkable journey as a long-time First Financial member.

How to join First Financial

If you live, work, worship, volunteer, or attend school in Monmouth or Ocean Counties in NJ, you’re eligible to become a member. Businesses in Monmouth or Ocean Counties and our community partners are also eligible for membership. To join, all you have to do is open a savings account with $5. It’s that easy! Once you’re a member, your immediate family can also sign up. To get started, call us at 732.312.1500, email info@firstffcu.com, or stop by any of our local branches.

First Financial Business Member Spotlight: Matticus Bricks LLC

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“Whenever I come into the branch, I’m greeted by name. I feel like I’m known here. It feels kind of like coming home.”

At First Financial, we believe in going beyond transactional service by fostering connections. This personal touch wasn’t lost on Matthew Koba, also known as Matticus Bricks on social media platforms. A dedicated LEGO builder and content creator, Matthew has built an impressive following and found a financial home for his creative ventures with First Financial.

With over 24,000 followers on Instagram, Matticus Bricks has cultivated a community of fellow LEGO enthusiasts who appreciate his unique creations and engaging content. His posts consistently garner hundreds, and sometimes even thousands of likes – a testament to his hard work, creativity, and personability.

Matthew’s journey with First Financial began with his personal banking needs, where he experienced the emphasis on one-on-one relationships that sets us apart. Impressed by the personal touch he received, Matthew decided to explore our business banking options as he started to monetize his social media presence through collaborations. He recognized the importance of having a financial partner that understood his evolving needs and shared his commitment to growth.

“I had such a great experience doing my personal banking with First Financial that I came in, and I asked about their business options. It’s more like a personal one-on-one type of relationship. I feel really comfortable coming into the branch.”

Matthew’s story is a reflection of our commitment to providing exceptional service that evolves alongside our members’ needs. Just as he meticulously assembles LEGO bricks to create unique pieces for his audience, we meticulously tailor our services to provide a banking experience that’s just as unique as each member.

Watch the video below to hear Matthew share his journey and the connection he’s forged with First Financial.

Follow Matthew and see all of his creations on YouTube and Instagram!

How to join First Financial

If you live, work, worship, volunteer, or attend school in Monmouth or Ocean Counties in NJ, you’re eligible to become a member. Businesses in Monmouth or Ocean Counties and our community partners are also eligible for membership. To join, all you have to do is open a savings account with $5. It’s that easy! Once you’re a member, your immediate family can also sign up. To get started, call us at 732.312.1500, email info@firstffcu.com or stop by any of our local branches.