Cooperative Federal

What Cooperative Federal does

Cooperative Federal (legal name: Syracuse Cooperative Federal Credit Union) is a member-owned, federally insured community development credit union founded in 1982 in Syracuse, NY. It operates three physical branches in the Syracuse metro (with a fourth planned for 2026 on North Salina Street) and serves individuals, small businesses, nonprofits, immigrants and New Americans, manufactured home residents, youth, and government contractors across Central New York. The institution holds a Low Income Credit Union designation (1996), a CDFI Fund certification (2001), and a HUD Housing Counseling affiliation, which collectively grant access to mission-aligned grant capital such as the $3.7M CDFI Fund award received in April 2023.

Its product set spans standard retail banking (checking, savings, money market, IRAs, certificates, VISA credit cards), consumer lending (personal, auto, mortgage, HELOC, credit builder, immigration, holiday, emergency), and small business lending (term loans and lines of credit up to $720,000, plus the NYS Contractor Financing Program up to $500,000). Supporting services include HUD-certified housing counseling, free financial counseling, business advising, bilingual Spanish and multilingual services, and grant-based programs such as Homebuyer Dream Grants (up to $25,000) and Matched Savings (4:1 match up to $4,000). The technology stack is conventional credit-union infrastructure—Bankjoy mobile app, MeridianLink loan origination, DocuSign, Message Pay—with no disclosed proprietary AI/ML or developer-facing APIs.

The business model is cooperative and mission-driven rather than profit-maximizing: revenue is generated primarily through net interest spread on the loan portfolio (mortgages, auto, consumer, small business), supplemented by checking fees ($3/month, waived with direct deposit), loan origination/documentation fees, and modest interchange. The GTM motion is community-led—driven by referrals from an extensive network of schools, refugee resettlement agencies, housing authorities, workforce development centers, SCORE, and neighborhood organizations—and by free financial education classes and HUD counseling that convert into loan and deposit relationships. Governance is by an all-volunteer member-elected Board, with deposits insured by the NCUA.

Name

Cooperative Federal

Legal name

Syracuse Cooperative Federal Credit Union

Website

https://cooperativefederal.org

Company type

Private

Founded year

1982

Operating status

Operating

Headcount range

11–50 employees

Short description

Cooperative Federal is a Syracuse, NY-based CDFI-certified community development credit union offering retail banking, consumer and small business lending, HUD housing counseling, and mission-driven financial services to underserved individuals, immigrants, and small businesses across Central New York.

Ownership category

akta.pro rank

Product category

Community Development Banking

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Development Credit Unions (CDCUs) (FSABAEAC)

akta.pro secondary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Community development banking
• Credit union services
• Affordable mortgage lending
• Small business lending
• Financial inclusion services

Headquarters

HQ city

Syracuse

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Loans: Cooperative Federal generates revenue primarily through interest charged on loans including mortgages, auto loans, personal loans, credit cards, and business loans. Interest rates vary by product type, term, and creditworthiness.
2. Checking Account Fees: Monthly service fees on checking accounts, with certain fees waived for direct deposit or specific account types.
3. Loan Fees: Various fees associated with loan products including application fees (e.g., $15 for immigration loans), loan documentation fees, and late payment fees.
4. Dividend Payments: As a credit union, members earn dividends on savings accounts, money market accounts, IRAs, and certificates based on posted rates.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels8 records

Core offering

Cooperative Federal is a member-owned, nonprofit community development credit union that provides deposit accounts (checking, savings, money market, IRAs, certificates), consumer and small business loans (mortgages, auto, personal, credit cards, HELOCs, credit builder, immigration, emergency, contractor financing), and free financial education and counseling to individuals, small businesses, and nonprofits in the Syracuse, NY area. It reinvests member savings locally into loans to underserved communities and earns revenue primarily through interest income and service fees.

Product overview

Cooperative Federal is a Syracuse-based credit union offering a comprehensive suite of personal and business banking products. Core offerings include checking accounts (Personal Checking, Super Share Checking, Start Over Checking), savings accounts (Basic Savings, Super Shares, Secondary Shares, Omega Savings), VISA Classic credit cards, IRAs and certificates, and money market accounts. The credit union provides loan products including personal loans, auto loans, mortgages (fixed-rate, FHA, VA, USDA, and hybrid ARMs), home equity loans and HELOCs. Specialized lending includes immigration loans, holiday loans, emergency loans, credit builder loans, and business loans. Digital banking is available via online and mobile platforms. The organization distinguishes itself through mission-driven community finance focused on economic justice, offering programs like the Homebuyer Dream grants (up to $25,000 down payment assistance), Lucky Savers prize-linked accounts, and free financial and housing counseling. Business services include accounts, loans up to $720,000, and the NYS Contractor Financing Program. Educational resources include classes, youth life skills programs, and matched savings grants.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts
• Savings Accounts
• Lucky Savers Prize-Linked Savings
• Money Market Accounts
• IRAs and Certificates
• VISA Classic Credit Cards
• Personal Loans
• Auto Loans
• Mortgages
• Home Equity Loans and HELOCs
• Homebuyer Dream Grants
• Welcome Home Loans (Manufactured Home Financing)
• Immigration Loans
• Holiday Loans
• Emergency and Payday Alternative Loans
• Credit Builder Club
• Holiday Club
• Debt Consolidation with Compassion
• Skip-A-Pay
• Business Accounts
• Small Business Loans
• NYS Contractor Financing Program
• Business Advising
• Online and Mobile Banking
• Kids and Teens Accounts
• Homebuyer Education and Counseling
• Financial Counseling
• Matched Savings Program

Quantifiable outcome

• Up to $25,000 in down payment assistance grants available through Homebuyer Dream Program
• +2 more outcomes

Named customers8 records

Segments8 records

Ideal customer profiles8 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core.

• Inclusiv Business ForwardcoreGTM or Marketing PartnerCooperative Federal is a Participating Lender with Inclusiv Business Forward. Together, they are expanding access to capital for small businesses ready to scale, particularly entrepreneurs who face barriers accessing the capital they need to grow.
• Owners ChoicecoreStrategic or Co-development PartnerOwners Choice is a mortgage company founded by credit unions to serve credit union members. When members work with Owners Choice, they are still working with Coop Fed and supporting the economic justice mission.
• ROC USAcoreStrategic or Co-development PartnerROC USA is a non-profit organization that helps manufactured home communities become cooperatives owned and controlled by their residents. Cooperative Federal offers Welcome Home Loans in partnership with ROC USA for designated Resident Owned Communities.
• eHome AmericacoreStrategic or Co-development PartnerCooperative Federal offers an online Homebuyer Education Course in partnership with eHome America, helping first-time buyers determine if homeownership is right for them and learn the home buying process.
• Syracuse Financial Empowerment Center (FEC)coreStrategic or Co-development PartnerPartnership with the City of Syracuse to provide free one-on-one financial counseling. The Syracuse FEC is managed by Home HeadQuarters and the City of Syracuse in collaboration with Coop Fed and other local partners, specializing in money management, credit, student loans, and unemployment.
• Home HeadQuarterscoreStrategic or Co-development PartnerHome HeadQuarters manages the Syracuse Financial Empowerment Center and provides free foreclosure prevention programs. Strong collaboration with Coop Fed on financial counseling and community programs.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Alternatives Federal Credit Union: Ithaca, NY-based community development credit union of similar scale serving low-income and underserved members across central/upstate New York, with the same CDFI mission and bilingual community finance focus as Cooperative Federal.
• Lower East Side People's Federal Credit Union: NYC-based CDFI-certified and Low Income-designated credit union serving immigrant, working-class, and unbanked communities—directly comparable mission, regulatory profile, and bilingual product suite.
• Brooklyn Cooperative Federal Credit Union: Brooklyn-based small CDFI credit union serving underbanked residents and small businesses in a dense immigrant urban market—a near-direct analog in mission and target segments.
• Hope Credit Union: CDFI-certified and Low Income-designated credit union operating in the Deep South focused on economic justice, BIPOC wealth-building, and underserved communities—comparable size, mission, and product mix including small-dollar lending.
• Self-Help Federal Credit Union: Federally chartered CDFI credit union serving low-wealth and minority communities across multiple states with community development lending and deposit products; explicit institutional peer in mission-driven credit union banking.
• Clearpoint Federal Credit Union: Low Income-designated, CDFI-certified community credit union serving members across multiple states with small-dollar loans, credit building, and financial counseling—comparable scale and product depth in the community development CU segment.
• Verity Credit Union: Seattle-based CDFI-certified and Low Income-designated credit union serving a diverse membership with financial education and community-focused lending—similar institutional profile and mission-driven differentiation.

Broad incumbents

• City First Bank: Washington, D.C.-area CDFI-certified community development bank serving underinvested communities—a broader incumbent peer that overlaps mission and target segments but uses a bank charter rather than a credit union structure.
• Beneficial State Bank: West Coast CDFI-certified community development bank focused on social, economic, and environmental justice—broader incumbent peer with overlapping mission orientation and similar regulatory standing in the CDFI ecosystem.

Others

• Inclusiv: National CDFI credit union industry association and intermediary that Cooperative Federal partners with for the Business Forward program—an ecosystem/adjacent participant that channels funding, capacity, and programs to Coop Fed and its peer CDFI credit unions.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/coop_fed
• Facebookfacebook.com/coopfed
• LinkedInlinkedin.com/company/cooperative-federal-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cooperative Federal