Aneca Federal Credit Union

What Aneca Federal Credit Union does

ANECA Federal Credit Union is a federally chartered, member-owned cooperative financial institution headquartered at 4361 Youree Drive in Shreveport, Louisiana. Founded in 1939 by employees of Arkansas Louisiana Gas Company (Arkla) under the name Arkansas Natural Employees Credit Association, the institution adopted a community charter in 2009 and now serves residents and workers across Bossier, Caddo, and DeSoto Parishes in Northwest Louisiana through three branches (two in Shreveport, two in Bossier City), 55,000+ Allpoint surcharge-free ATMs, and 5,000+ CO-OP Shared Branching partner locations.

The product suite spans consumer deposit products (True2YOU Checking, savings, share certificates up to 4.00% APY, money market, IRAs, youth accounts), consumer lending (new/used and recreational vehicle, mortgage, HELOC, home improvement, personal, Fast Cash payday-alternative, Mastercard credit cards), small business banking (checking, money market, certificates, non-profit savings, commercial auto/equipment/real estate/construction/credit cards, remote deposit), and ancillary services (TruStage insurance, MyRewardsPlus, SavvyMoney credit score monitoring, CardStudio card personalization). The core technology stack is CU*Answers' It's Me 247 online and mobile banking platform, integrated with Zelle for P2P payments, Apple/Google/Samsung Pay, SavvyMoney for credit analytics, CardStudio, AutoLink vehicle research, and biometric identity verification.

The revenue model is the standard credit union economics: net interest income from a loan portfolio (auto at 5.74% APR, unsecured at 11.99%, HELOC at 6.75%, credit cards at 11.99%-14.99%) funded by member deposits (savings 0.10% APY, money market up to 2.02%, certificates), supplemented by transaction fees (overdraft $29, wires $25, ATM $1, safe deposit boxes $15-$48), debit/credit interchange (including the MyRewardsPlus rewards program), and referral income from the TruStage insurance partnership. The credit union is governed by an elected member Board and regulated by the NCUA, with the ANECA Foundation operating financial education programs and awarding annual scholarships to five partner Louisiana colleges. The institution is a CDFI Fund grant recipient (2023, $3.7M), consistent with its community development mandate.

Name

Aneca Federal Credit Union

Legal name

ANECA Federal Credit Union

Website

https://aneca.org

Company type

Private

Founded year

1939

Operating status

Operating

Headcount range

11–50 employees

Short description

ANECA Federal Credit Union is a member-owned, federally chartered community credit union founded in 1939 and headquartered in Shreveport, Louisiana, serving Bossier, Caddo, and DeSoto Parishes with three branches and a full-service consumer, small business, and lending platform.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

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 products
• Community credit union
• Deposit and savings accounts
• Business banking loans

Headquarters

HQ city

Shreveport

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue stream from interest on loan portfolio including vehicle loans (5.74% APR), mortgages, personal loans (11.99% APR), credit cards (11.99-14.99% APR), and HELOCs (6.75% APR). Interest paid on deposits (savings, certificates, money market, IRAs) represents primary expense.
2. Fee Income: Various account and transaction fees including wire transfers ($25), overdraft/courtesy pay ($29), ATM fees ($1 non-ANECA), safe deposit boxes ($15-$48/year), notary services ($10 minimum), and loan-related fees
3. Interchange Revenue: Revenue from debit and credit card transactions, including reward programs funded through interchange (MyRewardsPlus earns 1 point per $1-3 spent on cards)
4. Insurance Referral Revenue: Partnership with TruStage Insurance Agency for life, auto, home, and AD&D insurance products offered to members through referral arrangements

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

ANECA Federal Credit Union is a federally chartered, member-owned cooperative credit union providing retail banking, deposit accounts, consumer and business lending, mortgages, credit cards, and community-based financial services to residents and workers of Bossier, Caddo, and DeSoto Parishes in Northwest Louisiana. Membership also extends to members' families and selected employer groups. The credit union operates three branches in Shreveport and Bossier City, complemented by mobile and online banking channels.

Product overview

ANECA Federal Credit Union is a full-service financial institution that transitioned from an employer-based credit union to a community charter in 2009, now serving Northwest Louisiana. Its product portfolio is organized into Consumer Banking, Lending, Business Banking, and Community Engagement. Consumer Banking centers on True2YOU Checking, Debit Card with Mobile App, Savings, Share Certificates, Money Market, IRAs, and Youth Accounts. Lending covers Vehicle Loans (auto and recreational), Rewards and Platinum Credit Cards, Mortgages, HELOC/Home Equity, Home Improvement Loans, Fast Cash Loans, and Other Personal Loans. Business Banking includes Business Checking, Platinum Business Checking, Business Savings, Business Money Market, Business Certificates, Non-Profit Savings, Business Loans (Auto/Equipment, Real Estate, Construction, Credit Cards), and Remote Deposit Scanner. Supporting services include Online Banking (It\u2019s Me 247), Mobile Banking App, CU*Talk phone banking, eStatements, Credit Score & More (via SavvyMoney), Safe Deposit Boxes, Wire Transfers, Insurance (TruStage), Love My Credit Union Rewards, and the ANECA Foundation community program. The core platform is the It\u2019s Me 247 online/mobile banking system with integrated Bill Pay, Zelle P2P payments, Apple/Google/Samsung Pay, and SavvyMoney credit monitoring.

Differentiator

Problem solved

Functional benefit

Brands

• ANECA Foundation: Non-profit foundation providing financial education through free programs and resources supporting the financial well-being of individuals, businesses, and communities.
• Gnome Gnation
• True2You Checking

Products and services

• True2YOU Checking Customizable personal checking account with online/mobile/text banking, online bill pay, P2P payments, mobile deposit, EMV chip cards, debit card controls, direct deposit, eStatements, text alerts, overdraft protection, and debit rewards; earns 0.10% APY.
• Savings Account Primary share savings account with 0.10% APY, $5 minimum balance, accessible via online and mobile banking with no complex terms.
• Share Certificates Fixed-term deposit accounts with 6 to 60 month terms, $1,000 minimum, NCUA insured, and competitive fixed rates; promotional 10-month term at 4.00% APY available.
• Money Market Account Hybrid savings/checking account with tiered rates up to 2.02% APY on balances of $500,000+, $2,500 minimum, debit/ATM access, and up to 6 withdrawals per month with check-writing ability.
• IRAs (Traditional & Roth) Traditional and Roth Individual Retirement Accounts available as variable savings (0.20% APY) or share certificate accounts with 3-60 month terms earning 3.50-3.82% APY.
• Youth Accounts Three-tier youth banking program: Kids Share Savings (ages 12 and under) with parental controls, Teen Debit Card (ages 13-17) with 2X rewards and Cha-Ching RoundUp, and Young Adult accounts (18+) with flexible loan options; includes $25 quarterly reward for A/B Honor Roll.
• Insurance (TruStage) TruStage-branded insurance products exclusively for ANECA members, including Accidental Death & Dismemberment ($2,000 no-cost benefit), Life, Auto & Home, and Renters Insurance.
• New & Used Vehicle Loans Auto loans for new and used vehicles with rates as low as 5.74% APR for up to 60 months; features 90-day deferred first payment, pre-approval, local decisioning, and complimentary AutoLink research service.
• Recreational Vehicle Loans Loans for RVs, boats, travel trailers, motorcycles, and ATVs with rates as low as 8.24% APR and terms up to 120 months; includes 90-day skip-a-pay option and pre-approval.
• Rewards & Platinum Credit Cards Mastercard credit cards with no annual fee: Rewards Mastercard earns 1 point per $1 spent (2X October-December) redeemable for merchandise, gift cards, travel; Platinum Mastercard offers 0% APR balance transfers for 12 months at 11.99% APR.
• Mortgages Full suite of mortgage products including Conventional (15-30 year terms), FHA (3.5% down), VA (100% financing for eligible veterans), USDA/Rural Development, Construction, Lot Loans, Cash-Out Refinance, and standard refinance options.
• HELOC & Home Equity Loans Home Equity Line of Credit (HELOC) with up to 100% LTV, 20-year term (10-year draw + 10-year repayment), interest-only payments at 6.75% APR, and no upfront closing costs; fixed-rate Home Equity Loans with 15-year terms also available.
• Home Improvement Loan Unsecured personal loan for home improvements at rates as low as 9.99% APR, limits up to $25,000, funding in as little as 48 hours, with optional 90-day deferred payment.
• Fast Cash Loan Payday loan alternative for qualifying members providing $200-$1,000 at 13.99% fixed APR with up to 6-month terms; requires 1-year membership, direct deposit, and same employer; no prepayment penalties.
• Other Personal Loans General-purpose unsecured personal loans up to $20,000 at rates as low as 11.99% APR with terms up to 60 months; also includes Share & Certificate Secured Loans at 2.50% above the collateral rate.
• Business Checking Business checking with no minimum balance, $7 monthly fee waived with active debit card and eStatements, debit card rewards, full online and mobile banking with bill pay.
• Platinum Business Checking Interest-earning business checking with higher daily debit limits, reward-earning debit card, full online and mobile banking; requires $1,000 minimum balance or $100K+ loan; designed for higher-volume businesses.
• Business Money Market Business money market account with check writing up to 6 per month, $2,500 minimum balance ($10 fee if below), and tiered rates up to 2.02% APY on $500,000+.
• Business Certificates Business share certificates with 3-60 month terms, $1,000 minimum, and flexible interest payment options (monthly, yearly, or at maturity).
• Non-Profit Savings High-yield savings for 501(c)(3) non-profits and 501(d) religious organizations earning 3.30% APY on balances of $1,000+; NCUA insured up to $250,000.
• Business Auto/Equipment Loans Business loans for commercial vehicles, tractors, and equipment with competitive rates and flexible terms; new and used financing with local decisioning.
• Business Real Estate Loans Commercial, residential, or mixed-use real estate financing with purchase or refinance options; up to 25-year amortization with owner and non-owner occupied properties considered.
• Business Construction Loans Short-term construction financing for commercial, residential, or mixed-use real estate projects.
• Business Credit Cards Business credit cards earning 1 point per $1 spent with individual spending limits per card, transaction monitoring, and spending management tools; rates as low as 16.24% APR.
• Online Banking (It's Me 247) Web-based online banking platform providing account balances, transfers, loan payments, check imaging, statement viewing, e-alert setup, card management, and bill pay.
• Mobile Banking App Native iOS and Android mobile banking application offering mobile deposit, eStatements, eAlerts, card controls, credit score access, loan applications, and PIN/voice/face authentication.
• CU*Talk (Phone Banking) 24/7 automated telephone banking system at 1-844-313-5044 for account inquiries, balance checks, money transfers, rate information, loan payment calculations, and PIN management.

Quantifiable outcome

• In 2023 ANECA members earned over 93 million reward points on debit and credit card purchases

Named customers11 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability8 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• TruStage Insurance AgencycoreGTM or Marketing PartnerInsurance partnership providing TruStage life, auto, home, and AD&D insurance products exclusively to ANECA members. TruStage offers nearly 80 years of credit union partnership experience. Includes $2,000 no-cost AD&D insurance as member benefit. ANECA earns referral/affiliate revenue from member enrollments.
• CO-OP Shared BranchingcoreChannel Partner/ Reseller/ DistributorShared branching network giving ANECA members access to over 5,600 compatible branches and 30,000+ surcharge-free ATMs across all 50 states. Members can conduct deposits, withdrawals, loan payments, and transfers at any member credit union.
• Allpoint ATM NetworkcoreChannel Partner/ Reseller/ DistributorSurcharge-free ATM network with 55,000+ locations worldwide. ANECA debit cards work at Allpoint ATMs found at Target, CVS, Walgreens, Kroger, and other retailers.
• SavvyMoneycoreTechnology or IntegrationCredit score monitoring and reporting integration powered by TransUnion using VantageScore 3.0. Provides free credit scores, reports, change alerts, dispute tools, and personalized offers integrated into ANECA online and mobile banking.
• Early Warning Services (Zelle)coreTechnology or IntegrationP2P payment integration through Zelle network. ANECA members can send and receive money directly from ANECA accounts. Daily limit $500, transaction limit $300. Part of 2,200+ bank/credit union network.
• North Louisiana Reentry ProgramminorStrategic or Co-development PartnerCommunity partnership providing financial guidance, affordable banking solutions, and educational resources to individuals rebuilding their financial futures after reentry. Community Development Liaison Erica McCain serves as primary contact.
• Goodwill Industries of Northwest LouisianaminorStrategic or Co-development PartnerCommunity partnership supporting individuals transitioning back into the community with access to employment, education, and essential resources. Part of ANECA's commitment to first and second chances.
• CU*Answers (It's Me 247)coreTechnology or IntegrationCore digital banking platform provider powering ANECA's It's Me 247 online and mobile banking, bill pay, text banking, and related services.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Market position

Strengths4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ANECAFCU
• LinkedInlinkedin.com/company/anecafcu
• Instagraminstagram.com/anecafcu
• Xx.com/ANECAFCU

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

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 Aneca Federal Credit Union