Affinity Plus Federal Credit Union

What Affinity Plus Federal Credit Union does

Affinity Plus Federal Credit Union is a federally chartered, not-for-profit financial cooperative founded in 1930 and headquartered in St. Paul, Minnesota. Regulated by the National Credit Union Administration (NCUA) and serving more than 280,000 members with $4.3B+ in assets, the credit union operates 34 branches across Minnesota (expanding to 35 with the Albert Lea branch opening scheduled for July 2026). It offers a full personal and business banking suite — checking, savings, money markets, certificates, IRAs, credit cards, mortgages, home equity, auto, recreational vehicle, student, and personal loans — supplemented by investment and insurance products offered through a referral partnership with LPL Financial, and by business banking services including lines of credit, equipment, vehicle, and commercial real estate loans.

The technology stack centers on a digital banking platform that includes mobile apps for iOS and Android (general and youth-specific), online banking, video banking (face-to-face member advisor consultations), and digital wallet integration across Apple Pay, Google Wallet, Samsung Pay, and Garmin Pay. Security features include multi-factor authentication, external account aggregation, spending analysis, credit monitoring, real-time alerts (up to 15 configurable), and card controls (freeze/unfreeze, spending limits, international purchase blocking). A 24/7 "Addy" virtual assistant supplements the live chat and contact-center channels. The credit union also offers a WINCENTIVE prize-linked savings product and a MyPlus Rewards program that auto-enrolls debit and credit card users with points redeemable for cash back, gift cards, travel, charitable donations, fee reversals, and loan-rate reductions.

The business model rests on net interest income from lending (the dominant revenue stream for credit unions), supplemented by transaction fees (monthly maintenance on BundleUp and commercial checking, overdraft/courtesy pay at $15/item with a $90 daily cap, wire transfers, stop payment, dormancy, money market minimum-balance fees, loan processing fees, and skip-a-payment fees), Visa interchange revenue on debit and credit card transactions, and investment referral fees paid by LPL Financial for member introductions. As a not-for-profit cooperative, surplus is returned to members through better rates and reduced fees rather than distributed as profit — notably the elimination of NSF fees and the $100 courtesy-pay buffer. Marketing reach is built primarily on community engagement: presenting sponsorship of the 2026 Special Olympics USA Games, the Affinity Plus Foundation grant program (over $2M awarded since 2000), an $1M Member Impact Fund partnership with FHLB Des Moines, and a network of five campus branches across the Minnesota State University system.

Name

Affinity Plus Federal Credit Union

Legal name

Affinity Plus Federal Credit Union

Website

https://affinityplus.org

Company type

Private

Founded year

1930

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Affinity Plus Federal Credit Union is a Minnesota-based, not-for-profit financial cooperative founded in 1930 that serves 280,000+ members through 34 branches, offering consumer and small-business banking, lending, and digital services with $4.3B+ in assets.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Student/University Credit Unions (FSABAEAJ)

Keywords

• Consumer banking
• Credit union services
• Small business banking
• Personal lending
• Retail financial services

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Offices36 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Affinity Plus generates revenue primarily through interest earned on loan products including mortgages, home equity loans, auto loans, recreational vehicle loans, student loans, personal loans, business loans, and credit cards. As a not-for-profit credit union, margins are returned to members through competitive rates.
2. Fee Income: Revenue from account service fees including monthly maintenance fees on certain checking accounts, overdraft/courtesy pay fees, wire transfer fees, stop payment fees, dormancy fees, money market minimum balance fees, loan processing fees, check printing fees, and non-member check cashing fees.
3. Interchange Revenue: Revenue from Visa debit and credit card transaction interchange fees when members use their Affinity Plus cards for purchases. The credit union donates 1% of card purchases during promotional periods to charitable causes.
4. Investment Products Revenue Share: Affinity Plus refers members to LPL Financial for investment and advisory services. LPL pays referral fees to the credit union, creating a revenue-sharing arrangement.

Pricing tiers

Go-to-market motion3 records

Distribution channels8 records

Marketing channels9 records

Core offering

Affinity Plus Federal Credit Union is a not-for-profit, member-owned financial cooperative that delivers consumer and small business banking products across Minnesota. Its core offerings include checking and savings accounts, money markets, certificates, IRAs, consumer credit cards, mortgages, home equity, auto, RV, student and personal loans, as well as business checking, lending and cash services, plus investment and insurance products referred through LPL Financial. Members access these products through 34+ physical branches, a mobile and online banking platform, video banking, and a 60,000+ ATM surcharge-free network.

Product overview

Affinity Plus Federal Credit Union operates as a not-for-profit financial cooperative offering a comprehensive suite of banking products and services organized into three primary segments: Personal Banking (checking, savings, certificates, IRAs, credit cards, mortgages, auto loans, personal loans, and digital banking), Business Banking (checking, savings, money markets, certificates, credit cards, lines of credit, vehicle loans, equipment loans, and real estate loans), and Investment & Planning (investment products, insurance, estate planning, and retirement services offered through LPL Financial partnership). Key digital products include Online/Mobile Banking, Video Banking, Youth Banking App, and the MyPlus Rewards program. The credit union operates 34 branches statewide and serves over 280,000 members with more than $4.3 billion in assets. The Affinity Plus Foundation extends community impact through housing, financial education, and food security initiatives.

Differentiator

Problem solved

Functional benefit

Brands

• Affinity Plus Foundation: 501(c)(3) nonprofit foundation focused on housing stability, financial well-being, food security and access to education

Products and services

• Simply Free Checking

Quantifiable outcome

• Eliminated NSF fees entirely, saving members millions of dollars
• +6 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature5 records

Partnerships

Nine partnerships are on record, tiered flagship, core and minor.

• Special Olympics Minnesota / 2026 Special Olympics USA GamesflagshipGTM or Marketing Partner · 29 January 2026Affinity Plus serves as presenting sponsor of the 2026 Special Olympics USA Games and partner in the 26 Weeks of Giving campaign. The credit union donates 1% of all Visa debit and credit card purchases (up to $100,000) from April 1 through June 30, 2026 to support the Games and participating athletes.
• Federal Home Loan Bank of Des Moines (FHLB Des Moines)flagshipStrategic or Co-development Partner · 12 June 2025The Affinity Plus Foundation partnered with FHLB Des Moines to award $1 million in Member Impact Fund grants to 41 nonprofit organizations across Minnesota. The Member Impact Fund matches up to $3 for every $1 contributed by FHLB Des Moines member institutions.
• TruLync Medicare AdvisorscoreStrategic or Co-development PartnerAffinity Plus partners with TruLync Medicare Advisors to provide free bi-weekly Medicare webinars to members. TruLync's team of independent licensed health insurance agents helps members understand their Medicare options at no charge. TruLync represents 8 organizations offering 61 products.
• LPL FinancialcoreTechnology or IntegrationAffinity Plus refers members to LPL Financial for securities and advisory services. LPL is a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are also offered through LPL or its affiliates. The credit union earns referral fees from LPL for member referrals.
• Joy CollaborativeminorStrategic or Co-development PartnerJoy Collaborative partnered with Affinity Plus and other organizations to provide sensory-friendly accommodations at the 2026 Special Olympics USA Games, including mobile Joy Zones for individuals with physical and cognitive challenges.
• KultureCityminorStrategic or Co-development PartnerKultureCity partnered with Affinity Plus and other organizations to provide sensory-friendly accommodations including sensory rooms, kits, and adaptive spaces at the 2026 Special Olympics USA Games.
• Headwaters Housing Development Corporation (HHDC)coreGTM or Marketing PartnerAffinity Plus Foundation awarded a $30,000 grant (renewable for up to 3 years) to HHDC to expand financial education and homeownership programs in Beltrami, Mahnomen, and surrounding counties in northern Minnesota. HHDC serves communities including Red Lake, White Earth, and Leech Lake Indian Reservations.
• One Roof Community HousingcoreGTM or Marketing PartnerAffinity Plus Foundation awarded $30,000 to One Roof Community Housing to support homebuyer education and counseling services in Duluth, helping low-income first-time homebuyers access down payment assistance and financial literacy resources.
• One Simple PlanminorGTM or Marketing PartnerOne Simple Plan is the production company behind St. Paul's Lowertown Sounds concert series, which Affinity Plus sponsors as a community event.

Scale indicators10 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Hiway Federal Credit Union: Minnesota-based federal credit union serving the Twin Cities and surrounding areas with personal and business banking, mortgages, and digital banking. Closely comparable in scale, geography, product mix, and member base as a community-focused Minnesota credit union.
• TopLine Federal Credit Union: Minnesota-headquartered federal credit union with branches across the Twin Cities metro, offering personal, business, and wealth products. Comparable in asset size band, geographic focus, and member-owned cooperative model.
• Wings Financial Credit Union: Minnesota-based federal credit union affiliated with the air transport industry, serving members nationwide with a strong digital banking platform. Comparable in product breadth (deposits, lending, cards) and digital-first approach, though larger and more nationally distributed.
• TruStone Financial Credit Union: Minnesota-headquartered credit union serving the Twin Cities and surrounding regions with personal and business banking. Direct comparable in product suite, branch-based distribution, and member-owned cooperative structure.
• Connexus Credit Union: Wisconsin-based federal credit union with growing Minnesota presence and a national digital reach via online membership. Comparable to Affinity Plus in personal/business banking products and credit union cooperative model, with broader geographic distribution.

Broad incumbents

• Alliant Credit Union: Large Chicago-based federal credit union serving members nationwide through a primarily digital model with no physical branches. Comparable to Affinity Plus in low-fee positioning and digital capabilities, but operates at significantly larger scale with a national membership footprint.
• Digital Federal Credit Union (DCU): Massachusetts-based federal credit union serving members nationwide with a strong digital banking platform and competitive deposit products. Comparable as a federally chartered credit union with nationwide digital reach, but materially larger in asset base and member count.
• SchoolsFirst Federal Credit Union: California-based federal credit union serving school employees and their families, with a defined-membership model similar to Affinity Plus's community-based eligibility. Comparable in serving a defined field of membership with comprehensive banking products and community-impact orientation.

Regional players

• Bell Bank: Minnesota-headquartered community bank with full-service personal and business banking. Comparable as a Minnesota-based community-focused financial institution competing for similar retail and SMB customers, though structured as a for-profit bank rather than a credit union cooperative.
• Bremer Bank: Minnesota-headquartered regional bank serving personal, business, and wealth clients across the Upper Midwest. Comparable as a Minnesota-based community-oriented financial institution with similar geographic focus and broad product offering including mortgages and business lending.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/Affinity_Plus
• Facebookfacebook.com/AffinityPlus
• Instagraminstagram.com/affinity_plus

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments1 record

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

Frequently asked questions about Affinity Plus Federal Credit Union