Public Service Credit Union

What Public Service Credit Union does

Public Service Credit Union (PSCU) is a federally chartered, member-owned credit union founded in 1951 as Wayne County Employees Federal Credit Union, headquartered in Romulus, Michigan, and serving the Metro Detroit / Wayne County region. It operates with 51-100 employees and offers a full-service retail and small-business banking platform: savings accounts (including CDs, retirement, and youth), checking accounts (Basic, Direct Advantage, Direct Advantage Plus with identity-theft protection, and youth/young-adult tiers), a comprehensive consumer lending suite (auto, personal, mortgage, home equity, recreational, student, and credit cards), and a parallel business banking line covering accounts, loans, merchant processing, payroll, and treasury management. Distribution combines physical branches in Detroit, Romulus, and Redford with a digital banking platform (online and mobile) and access to over 5,000 Co-op Shared Branch locations nationwide via the Velera (formerly CO-OP) network, including multi-factor identity verification (ID Check by Velera) for shared branch visits.

The credit union's revenue model rests primarily on net interest income from consumer and small-business lending, supplemented by deposit-related fees ($8.95/month Basic Checking, overdraft protection) and a long-tail of small-dollar service charges. Pricing is unit-based on loans (e.g., personal loans as low as 10.25% APR, auto 4.24% APR, home equity 6.50% APR) and subscription-style on deposit accounts with monthly maintenance fees waived under specific direct-deposit and balance conditions. The go-to-market motion is direct-to-consumer, with member acquisition driven by community presence, an uncapped $75 referral program, the 75th Anniversary promotional cycle (a 0.75% APR loan discount and a $75 new-member bonus running through 2026), and a content marketing engine built around financial-education blog content co-produced with nonprofit partner GreenPath Financial Wellness and credit-monitoring vendor SavvyMoney. Federal insurance via the NCUA and a 2023 CDFI Fund award of $4.96M underscore its regulated, mission-aligned community development posture.

Name

Public Service Credit Union

Legal name

Public Service Credit Union

Website

https://pscunow.com

Company type

Private

Founded year

1951

Operating status

Operating

Headcount range

51–100 employees

Short description

Public Service Credit Union is a federally insured, member-owned credit union founded in 1951, serving Metro Detroit consumers and small businesses with checking, savings, consumer and business loans, digital banking, and access to 5,000+ shared branches nationwide.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Credit union services
• Business banking

Headquarters

HQ city

Romulus

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue source from consumer lending including auto loans, mortgages, home equity, personal loans, credit cards, recreational vehicles, and student loans. Interest rates displayed: Personal Loans as low as 10.25% APR, Auto Loans 4.24% APR, Home Equity 6.50% APR, Recreational 5.99% APR.
2. Deposit Interest Payments: Pays interest on deposits including checking accounts (Direct Advantage Plus earns dividends on balances up to $10,000), savings accounts, CDs, and money market accounts.
3. Account Fees and Service Charges: Monthly maintenance fees such as $8.95 for Basic Checking (waived with $250 minimum balance), various transaction and service fees documented in fee schedule.
4. Overdraft Protection Services: Overdraft protection offerings for checking accounts generating fee revenue when members utilize the service.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Public Service Credit Union is a member-owned, not-for-profit credit union headquartered in Metro Detroit that provides retail banking, consumer lending, mortgage and home equity loans, credit cards, deposit accounts, and small-business banking products to individuals, public-service employees, and small businesses. The institution is federally insured by the NCUA and supplements its own branches with digital banking and access to a national shared-branching network.

Product overview

Public Service Credit Union offers a comprehensive suite of financial products organized around a platform-plus-modules architecture. The core portfolio centers on Savings Accounts, Checking Accounts, and Loan Products, with specialized sub-products like Direct Advantage Plus Checking (premium tier with identity theft protection) and Youth/Next Gen checking accounts for different age segments. Business Banking functions as a parallel product line covering business accounts, loans, and services. Digital Banking serves as the delivery channel across all products, while Shared Branch Services extends accessibility through the Co-op Shared Branch network. The 75th Anniversary promotion and ID Check by Velera represent recent additions to the product ecosystem.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts

Quantifiable outcome

• Access to over 5,000 Shared Branch locations nationwide
• +2 more outcomes

Named customers5 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

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• GreenPath Financial WellnesscoreStrategic or Co-development PartnerTrusted national nonprofit financial wellness organization providing educational content and counseling services. GreenPath offers free financial counseling, debt management programs, budgeting worksheets, and credit education resources shared through PSCU blog and member communications. Content covers fraud prevention, student loan guidance, retirement planning, and general financial wellness topics.
• Co-op Shared Branches (Velera)coreTechnology or IntegrationNational shared branching network operated by Velera (formerly CO-OP Financial Services) providing access to over 5,000 branch locations. Services include deposits, withdrawals, transfers, loan payments, and check cashing. Velera provides ID Check verification technology for secure identity authentication at shared branch locations using multi-factor authentication with QR codes, government ID upload, and selfie verification.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• SchoolsFirst Federal Credit Union: Large occupational/public-sector-focused federal credit union with a similar member base of public employees; comparable cooperative model and broader product suite.
• Digital Federal Credit Union (DCU): Large federally chartered digital-first credit union offering consumer lending, deposits, and digital banking at national scale; competing for PSCU members who want a richer mobile experience.
• First Tech Federal Credit Union: Large federally chartered occupational credit union offering similar consumer and business banking products with a digital-first experience, competing for tech/public-sector-adjacent members.
• Alliant Credit Union: National community credit union offering full-service consumer and business banking with strong digital platform; competes for PSCU's members willing to bank with a larger institution.

Direct peers

• Community Choice Credit Union: Michigan community credit union offering a parallel product set (savings, checking, auto, mortgage, business banking) under a similar cooperative ownership model.
• DFCU Financial: Michigan-headquartered community credit union offering similar deposit, lending, and business banking products with overlapping Metro Detroit footprint.
• Lake Michigan Credit Union: Michigan-based community credit union with broad consumer and mortgage lending, similar member-owned cooperative structure, and overlapping Wayne County/Metro Detroit service area.
• Genisys Credit Union: Michigan-based cooperative credit union with comparable consumer and business banking offerings and shared Co-op Shared Branch participation in the same regional market.
• Michigan State University Federal Credit Union: Large Michigan-headquartered community credit union offering a comparable full suite of consumer and business banking products; directly competes with PSCU for Metro Detroit-area members seeking credit-union alternatives.

Regional players

• Consumers Cooperative Credit Union: Mid-size Illinois-based cooperative credit union with a similar community credit union operating model, providing a regional benchmark for PSCU's product set and member service approach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PSCU
• Instagraminstagram.com/pscunow
• Xx.com/teampscu
• LinkedInlinkedin.com/company/pscu
• YouTubeyoutube.com/pscunow
• TikToktiktok.com/@pscunow

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 Public Service Credit Union