St. Paul Federal Credit Union

What St. Paul Federal Credit Union does

St. Paul Federal Credit Union is a federally chartered, not-for-profit financial cooperative founded in 1953 and headquartered in St. Paul, Minnesota. The institution serves members in the Minneapolis-St. Paul (Twin Cities) metropolitan area, with its field of membership anchored by IBEW Local 110 (International Brotherhood of Electrical Workers) and extended through select employee group (SEG) relationships and community membership. It offers a comprehensive suite of retail banking products including checking accounts (earning up to 4.99% APR on balances up to $20,000), savings, certificates (up to 3.60% APY), money market accounts, IRAs, and Coverdell ESAs, alongside lending products such as mortgages, home equity loans, auto loans (as low as 4.29% APR), consumer loans, private student loans, and a Platinum Rewards Visa credit card. The credit union also distributes insurance products through its St. Paul Federal Insurance Agency subsidiary and wealth management services through CPR Wealth Advisors.

The credit union operates a multi-channel distribution model consisting of physical branch locations in the St. Paul area, a 24/7 call center, an eBanking online platform, and an mBanking mobile application. Through the CO-OP Shared Branch network, members gain transactional access to over 5,000 credit union locations nationwide. The technology stack includes SSL encryption (supporting 40-bit to 128-bit levels), a proxy-based firewall, the MoneyDesktop personal financial management tool, and an AI-powered virtual assistant called eAnswers for member inquiries. Strategic partnerships extend the institution's value proposition beyond core banking, including KOFE for financial education, Harland Clarke for check reordering, TurboTax for tax preparation integration, TreasuryDirect for U.S. savings bond purchases, and Enterprise Car Sales for vehicle financing.

St. Paul Federal generates revenue primarily through the net interest spread on loans and deposits, supplemented by transactional fees (including a $35 Skip-a-Payment fee, late payment fees, and card replacement fees) and commission-based revenue from its insurance agency relationships. As a cooperative, surplus earnings are returned to members through competitive deposit rates, lower loan rates, and reduced fees rather than distributed to external shareholders. The institution is regulated by the National Credit Union Administration (NCUA), with member deposits federally insured to at least $250,000.

Name

St. Paul Federal Credit Union

Legal name

St. Paul Federal Credit Union

Website

https://stpaulfcu.org

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

11–50 employees

Short description

St. Paul Federal Credit Union is a federally chartered, not-for-profit financial cooperative serving members in the Twin Cities, anchored by IBEW Local 110. It offers retail banking, lending, credit cards, insurance, and wealth management through branches, digital channels, and the CO-OP Shared Branch network.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Credit Card Issuing (522210)

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

Faith-Based & Affinity Credit Unions (FSABAEAH)

Keywords

• Retail banking services
• Credit union lending
• Consumer deposit accounts
• Mortgage and auto loans
• Member financial services

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: Primary revenue source from interest charged on various loan products including mortgages, auto loans, personal loans, credit cards, and student loans
2. Fee-based Services: Fees from services including Skip-a-Payment program ($35 per skip), late payment fees, returned payment fees, statement copies, document copies, rush fees, and card replacement fees
3. Deposit Interest Spread: Revenue generated from spread between interest paid on deposits (savings, certificates, money market) and interest earned on loans
4. Insurance Agency Revenue: Commission-based revenue from St. Paul Federal Insurance Agency offering auto, home, life, and pet insurance through partnered carriers

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

St. Paul Federal Credit Union is a federally chartered, not-for-profit financial cooperative offering personal banking products and services to its members, including checking and savings accounts, certificates, money market accounts, mortgages, auto loans, consumer loans, private student loans, credit cards (Platinum Rewards Visa), prepaid debit cards, and retirement accounts (IRAs, Coverdell ESAs). Complementary offerings include insurance products through St. Paul Federal Insurance Agency, wealth advisory through CPR Wealth Advisors, prize-linked WINcentive Savings, and financial education through the KOFE partnership. Members access services via Twin Cities branches, 24/7 call center, eBanking online platform, mBanking mobile app, and the CO-OP Shared Branching network.

Product overview

St. Paul Federal Credit Union offers a comprehensive suite of financial products organized as a platform-plus-modules architecture. The core banking platform includes eBanking (online) and mBanking (mobile) platforms providing 24/7 account access. Core products center on lending (Mortgages, Auto Loans, Consumer Loans, Private Student Loans) and deposit services (Checking with interest rates up to 4.99% APR, Savings, Certificates with rates up to 3.60% APY, Money Market Funds, Safe Deposit Boxes). Credit products include the Platinum Rewards Visa Credit Card and Prepaid Debit Card. Investment and insurance modules include Retirement Accounts, College Savings via Coverdell ESAs, CPR Wealth Advisors, and Auto/Home/Life Insurance through the St. Paul Federal Insurance Agency. Member benefits include WINcentive Savings (prize-linked), Skip-A-Payment flexibility, and CO-OP Shared Branching. Charitable programs include Give From The Heart and Toys for Tots. Financial education is provided through the KOFE partnership.

Differentiator

Problem solved

Functional benefit

Brands

• Platinum Rewards Visa: Credit card product offering rewards points on purchases with rates ranging from 10.90% to 18.00% APR
• WINcentive Savings
• mBanking
• eBanking
• eAnswers

Products and services

• Mortgages First mortgages and home lending products including Home Equity Lines of Credit (HELOC) and second mortgages for purchasing or refinancing homes, available to credit union members.
• Auto Loans Vehicle financing for new and used cars with rates as low as 4.29% APR up to 72 months, available to credit union members.
• Consumer Loans Personal loans including signature loans and recreational vehicle loans for various consumer financing needs, available to credit union members.
• Private Student Loans Private student loan products to fund education beyond federal options, including loan consolidation, available to credit union members and their families.
• Checking Accounts Checking accounts with eBanking access, earning up to $1,000 in bonus dividends annually with interest rates up to 4.99% APR on balances up to $20,000, available to credit union members.
• Savings Accounts Savings accounts including Capital Savings, Holiday Club Savings, and Youth Savings accounts, available to credit union members.
• Share and IRA Certificates Share certificates and IRA certificates with competitive rates up to 3.60% APY, available to credit union members.
• Money Market Accounts
• Safe Deposit Boxes Secure storage boxes available in four sizes with vault storage for protecting valuables and important documents, available to credit union members at branch locations.
• Platinum Rewards Visa Credit Card Credit card with rewards program offering rates from 10.90% to 18.00% APR based on creditworthiness, with no annual fee and no balance transfer fee, available to credit union members.
• Prepaid Debit Card Prepaid debit card option for members seeking controlled spending or those without traditional banking access.
• Retirement Accounts (IRAs) IRA accounts including Traditional, Roth, and SEP IRA options with various rate structures, available to credit union members.
• College Savings (Coverdell ESA) Coverdell Education Savings Accounts allowing tax-free contributions up to $2,000 per child per year, available to credit union members.
• Auto, Home and Life Insurance Insurance products through St. Paul Federal Insurance Agency offering coverage from 40+ insurance companies, available to credit union members.
• AD&D Insurance Accidental Death and Dismemberment insurance coverage for additional financial protection, available to credit union members.
• CPR Wealth Advisors Investment Services Wealth advisory and investment services offered through partnership for comprehensive financial planning, available to credit union members.
• WINcentive Prize-Linked Savings Savings account with prize-winning opportunities where members can win money while building savings, available to credit union members.
• eBanking Online Banking Platform Full-featured online banking platform enabling account access, bill payment, transfers, and account management via web browser, available to credit union members.
• mBanking Mobile Banking Application Mobile banking application allowing 24/7 access to accounts, transactions, and financial services via smartphone or tablet, available to credit union members.

Quantifiable outcome

• Checking accounts earn up to 4.99% APR for balances up to $20,000
• +3 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• KOFE (Knowledge of Financial Education)coreStrategic or Co-development PartnerPartnership providing members with comprehensive financial education resources including video library, 30+ downloadable publications, budgeting tools, financial calculators, webinars, interactive courses, live chat with financial coaches, and 1-on-1 phone counseling. Services are free to members.
• CO-OP Shared BranchescoreChannel Partner/ Reseller/ DistributorNetwork of credit unions sharing branch locations, allowing St. Paul Federal members to conduct transactions at over 5,000 shared branch locations nationwide. Services include deposits, withdrawals, loan payments, transfers, and balance inquiries.
• St. Paul Federal Insurance AgencycoreChannel Partner/ Reseller/ DistributorInsurance agency offering auto, home, life, and pet insurance. Partners with 40+ top-ranked insurance companies to find discounts and savings for members.
• Enterprise Car SalesminorStrategic or Co-development PartnerVehicle sales partner integrated with Buy Smart, Borrow Smart program. Enterprise offers used vehicles while St. Paul Federal provides financing.
• Marine Toys for Tots FoundationminorOthersAnnual toy collection campaign for underprivileged children in Twin Cities. St. Paul Federal collects donations at branch locations and matches donations ($10 per toy up to $15,000).
• CPR Wealth AdvisorsminorStrategic or Co-development PartnerInvestment services partner providing retirement planning and wealth management services through investment centers.
• CU Companies RealtyminorChannel Partner/ Reseller/ DistributorPartnership realty company for mortgage referrals and real estate agent connections for home buying members.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Hiway Credit Union: St. Paul-headquartered credit union serving the Twin Cities metro with a comparable product suite (checking, loans, mortgages, credit cards) and similar small/mid-sized community credit union scale. Most direct local peer for member competition.
• Affinity Plus Federal Credit Union: Minnesota-based federally chartered credit union offering a similar full-service retail banking platform including loans, deposits, credit cards, and insurance. Overlaps directly in Twin Cities geography and member demographic.
• Wings Financial Credit Union: Minnesota-based credit union with broad consumer and affinity membership including financial services employees. Larger than St. Paul Federal but directly comparable in product breadth and member-focused cooperative model.
• TruStone Financial Credit Union: Twin Cities-area credit union offering checking, savings, loans, mortgages, and digital banking to consumer and SEG members. Directly comparable in scale, geographic focus, and product mix.
• TopLine Financial Credit Union: Minnesota-based community credit union providing personal banking, lending, and wealth services. Competes for the same Twin Cities consumer and SEG member base with a similar product platform.

Broad incumbents

• First Tech Federal Credit Union: Large affinity-based federal credit union serving technology and trade-affiliated members nationwide. Comparable in the affinity/SEG membership model and full digital banking platform, but materially larger scale.
• BECU (Boeing Employees Credit Union): One of the largest U.S. credit unions, originally serving Boeing employees and now a broad community-charter credit union. Comparable affinity roots and member-owned cooperative structure, but with vastly greater scale and product breadth.
• SchoolsFirst Federal Credit Union: Large California-based SEG-affinity federal credit union serving school employees and their families. Comparable in single-affinity-group origin, member-owned cooperative model, and full personal banking/lending platform.

Regional players

• Connexus Credit Union: Wisconsin-headquartered credit union with a community charter extending into Minnesota. Offers similar deposit, lending, and digital banking products, competing in overlapping Midwest geographies.

Emerging players

• Self-Help Federal Credit Union: Community development federal credit union with a mission-aligned, member-focused model serving underserved and trade-affiliated members. Comparable in federal charter structure and community banking focus, though differentiated by CDFI mission.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/StPaulFCU
• Facebookfacebook.com/stpaulfcu.org
• LinkedInlinkedin.com/company/saint-paul-federal-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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 St. Paul Federal Credit Union