New Orleans Firemen's Federal Credit Union

What New Orleans Firemen's Federal Credit Union does

New Orleans Firemen's Federal Credit Union (NoFFcu) is a federally chartered, NCUA-insured member-owned credit union founded in 1934 by New Orleans firefighters and recognized as the second oldest federally chartered credit union in the United States. It is CDFI-certified and operates as a not-for-profit financial cooperative serving active and retired firefighters, their families, more than 400 Select Employee Group (SEG) employer partners, residents of designated Louisiana and Mississippi parishes, Veterans Benefits Banking Program beneficiaries, and nonprofit-affiliated community members. As of mid-2024 the credit union reported over 29,000 members and 501–1,000 employees, with a footprint of 10 full-service branches across LA and MS, an additional Picayune MS branch, CO-OP Shared Branching access at 5,600+ locations nationwide, and surcharge-free access through Pulse, CU 24, and Exchange ATM networks.

The credit union runs a platform-plus-module product architecture spanning core retail banking (Kasasa Cash, Kasasa Cash Back, Kasasa Tunes, InControl checking, savings, money market, certificates, and youth/IRA certificates), a Visa credit-card suite (Platinum, Rewards, uChoose points program, and a Secured product for credit rebuilders), a lending book covering auto (including a 2%-rate-refinance promo), boat/RV/motorcycle, first mortgages with up to 100% LTV, home equity, HELOC, vacant-land, personal (up to $25,000), education expense lines, and cuScholar private student loans through LendKey. Investment offerings include Traditional and Roth IRAs and a Coverdell ESA. Digital channels comprise 24/7 online and mobile banking with mobile check deposit, Early Pay direct deposit, eStatements, and bill pay; the technology layer visible from the input is standard third-party credit-union digital banking rather than in-house proprietary infrastructure — no public API, SDK, or developer surface is disclosed. Add-on modules include GAP and mechanical-repair coverage, TruStage life/auto/home insurance referrals, Banzai and GreenPath financial wellness, and a Firemen's Resource Guide, alongside Visa and major national ATM integrations.

Revenue is generated primarily through net interest income on consumer and mortgage loans, supplemented by credit-card interchange, deposit-related fees, investment-product balances, and referral fees from third-party insurance and education-savings products. The go-to-market combines community-led acquisition (SEG partnerships, firefighter-community events, scholarship and teacher-of-the-year programs, and financial-wellness seminars) with direct-to-consumer branch and digital channels, including a third-party LoanPQ/LendKey self-serve loan pipeline. The credit union also accesses non-deposit mission-aligned capital via the U.S. Treasury CDFI Fund — a $3.7M award in April 2023 — which supports community-development lending in underserved LA/MS target areas.

Name

New Orleans Firemen's Federal Credit Union

Legal name

New Orleans Firemen's Federal Credit Union

Website

https://noffcu.org

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

51–100 employees

Short description

New Orleans Firemen's Federal Credit Union is a federally chartered, CDFI-certified credit union founded in 1934, serving over 29,000 members across Louisiana and Mississippi through 10 branches, a Visa card suite, consumer and mortgage lending, and community-led SEG and veteran-banking partnerships.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industries

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Deposit accounts
• Mortgage lending

Headquarters

HQ city

Metairie

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: Primary revenue from interest charged on auto loans, mortgages, personal loans, home equity loans, and credit cards. Competitive rates offered to members.
2. Deposit Account Fees: Fee income from various account services including ATM fees (with refunds for qualifying accounts), wire transfers, and returned check fees
3. Credit Card Interchange: Transaction fees from Visa credit card usage including purchases, balance transfers, and cash advances
4. Insurance Products: Referral fees from TruStage insurance products (life, auto, home insurance) offered to members
5. Investment Products: Revenue from IRA accounts, money market accounts, and share certificates with various balance tiers

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels8 records

Core offering

New Orleans Firemen's Federal Credit Union is a member-owned, federally chartered credit union that delivers retail banking, consumer lending, and investment products to individual members and select employee groups. Core offerings span deposit accounts (checking, savings, money market, certificates), credit cards (Visa Platinum, Rewards, Secured), consumer loans (auto, mortgage, home equity, personal, student, boat, RV, motorcycle), retirement accounts (Traditional IRA, Roth IRA, Coverdell ESA), and protection products (GAP insurance, mechanical repair coverage, TruStage life/auto/home insurance).

Product overview

New Orleans Firemen's Federal Credit Union is a full-service financial institution offering a comprehensive suite of banking, lending, and investment products. The credit union operates a platform-plus-module architecture with core products organized into: Checking & Savings (Kasasa Cash Checking, Kasasa Cash Back Checking, Kasasa Tunes Checking, InControl Checking, Kasasa Saver, Savings Accounts, Money Market, and Certificates including Youth and IRA Certificates); Credit Cards (Visa Platinum, Visa Rewards, and Visa Secured); Lending (Auto Loans, Auto Refinance, Boat/RV/Motorcycle Loans, First Mortgage, Home Equity Loan, HELOC, Vacant Land Loans, Personal Loans, and Student Loans including Education Expense Line of Credit and cuScholar Private Student Loans); Investment & Retirement (Traditional IRA, Roth IRA, and Coverdell Education Savings Account); and Protection Products (TruStage Life/Auto/Home Insurance, GAP Insurance, and Mechanical Repair Coverage). Digital banking services include Online & Mobile Banking with Mobile Check Deposit, Early Pay, eStatements, and Bill Pay. Educational and wellness resources include Banzai courses, GreenPath counseling, Firemen's Resource Guide, CheckRight, and Louisiana 529 START. The institution serves over 28,000 members across Louisiana and Mississippi as a certified Community Development Financial Institution (CDFI).

Differentiator

Problem solved

Functional benefit

Products and services

• Kasasa Cash Checking

Quantifiable outcome

• Earn up to 5.00% APY on Kasasa Cash Checking accounts
• +4 more outcomes

Named customers6 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• TruStage (CUNA Mutual)coreGTM or Marketing PartnerTruStage insurance products including life insurance, auto insurance, and home insurance offered exclusively to NOFFCU members with promotional pricing and referral revenue for the credit union
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerFree one-on-one financial counseling, debt management services, and financial education tools provided to members through GreenPath partnership since 1961
• BanzaicoreStrategic or Co-development PartnerFinancial education courses using real-life scenarios for kids, teens, and adults available through NOFFCU-hosted platform
• CO-OP Shared BranchescoreChannel Partner/ Reseller/ DistributorOver 5,600 shared branching locations nationwide allowing members to conduct transactions at participating credit unions
• Enterprise Car SalesminorGTM or Marketing PartnerExclusive member deals through Enterprise Car Sales for vehicle purchasing, integrated with auto loan financing
• Veterans Benefits Banking Program (VBBP)coreStrategic or Co-development PartnerCommitted to helping Veterans, beneficiaries, survivors, and caregivers access financial products and services, including low-to-no-cost checking accounts for VA beneficiaries with direct deposit
• Louisiana START 529 PlanminorGTM or Marketing PartnerLouisiana's college savings program (529 Plan) promoted through NOFFCU for education savings with state and federal tax benefits
• Select Employee Groups (SEGs)coreChannel Partner/ Reseller/ DistributorOver 400 business partners offering credit union membership as an employee benefits enhancement at no cost, including on-site sign-ups, financial education seminars, and counseling
• Stickley on SecurityminorStrategic or Co-development PartnerFree cybersecurity education program to help members stay safe online and protect personal data
• CARFAXminorGTM or Marketing PartnerVehicle history report partnership to help members protect themselves when buying used vehicles through CARFAX reports

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Boston Firefighters Credit Union: Occupational credit union serving Boston firefighters and first responders with a similar membership-based, community-focused banking model. Directly comparable as a public-safety-segment federal credit union of comparable scale and geographic specificity.
• Police & Fire Federal Credit Union: Federal credit union serving police officers, firefighters, and their families nationwide. Direct peer in the public-safety occupational credit union category, though PFFCU operates at significantly larger scale (~$7B+ assets) and broader geographic reach.
• SchoolsFirst Federal Credit Union: Large occupational credit union serving California school employees and their families. Closely comparable occupational/employer-segment structure with similar branch and digital delivery model, though at substantially larger scale.

Regional players

• Pelican State Credit Union: Louisiana-headquartered credit union with statewide branch network and similar community-banking profile. Direct geographic peer competing for the same Louisiana consumer and SEG relationships.
• Campus Federal Credit Union: Louisiana-based credit union serving university and education employees, with shared Baton Rouge/New Orleans footprint. Comparable in size and segment-overlap with NOFFCU's community/occupational membership expansion.

Broad incumbents

• Pentagon Federal Credit Union (PenFed): One of the largest U.S. federal credit unions serving military, defense community, and broader members. Comparable federally chartered structure and full-service product suite, though at vastly greater scale and broader eligibility.
• Alliant Credit Union: Large, federally chartered digital-first credit union with broad community-charter eligibility. Comparable federally chartered deposit-taking and lending product mix, but operates nationally with a primarily digital delivery model and substantially larger asset base.
• Digital Federal Credit Union (DCU): Massachusetts-based digital-first federal credit union with nationwide eligibility. Comparable federally chartered structure and full-suite banking products, but at materially larger asset base and broader geographic membership.

Emerging players

• Connexus Credit Union: Community-chartered credit union with national membership reach via digital channels and selective branch footprint. Comparable hybrid physical/digital delivery model, but with broader national membership eligibility and larger scale.
• SAFE Credit Union: Mid-sized community credit union serving Northern California with full-service branch and digital banking. Comparable in member count range, product breadth, and community-development focus, providing a useful same-tier scale benchmark.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/noffcu
• Facebookfacebook.com/NOFFCU

Compliance3 records

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 New Orleans Firemen's Federal Credit Union