Finger Lakes Federal Credit Union

Name

Finger Lakes Federal Credit Union

Legal name

Finger Lakes Federal Credit Union

Website

https://flfcu.org

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Credit Union Banking Services

NAICS

Credit Unions (52213), Credit Unions (522130), Depository Credit Intermediation (5221)

SIC

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

akta.pro primary industry

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

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Prime Unsecured Personal Loans (Installment) (FSAKAAAA)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Small business banking
• Deposit accounts

Headquarters

HQ city

Geneva

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income (Loans & Deposits): Finger Lakes FCU generates the majority of its revenue from the spread between interest earned on loans (mortgages, home equity, auto, student, personal, business loans) and interest paid on deposits (checking, savings, certificates, money market, IRA accounts). As a credit union, profits are returned to members through better rates on loans and deposits.
2. Fee Income: Monthly service fees on certain accounts, overdraft fees, ATM fees, wire transfer fees, and other transaction-based fees.
3. Kasasa Protect Add-On Subscription: $7.99/month for Kasasa account holders ($9.99/month for other checking holders) for identity protection and credit monitoring services. Provided through a partnership with Kasasa/CSID/Experian.
4. TruStage Insurance Products: Referral/revenue share from TruStage for life, auto & home, and AD&D insurance products offered to members.
5. Investment & Retirement Services: Securities and investment advisory services offered through Osaic Wealth/Higgins Financial Advisors, with the credit union receiving referral or revenue sharing.
6. Student Lending: Private student loans originated through Student Choice partnership, generating interest income and origination fees.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Finger Lakes Federal Credit Union is a member-owned, NCUA-insured cooperative financial institution offering consumer and small-business banking products. Its core offerings span deposit accounts (checking, savings, money market, share certificates, IRAs), consumer loans (mortgages, home equity/HELOC, auto, personal, debt consolidation, student, RV, boat), business banking (business checking/savings, lines of credit, commercial real estate, business vehicle loans, merchant card processing, remote deposit), and add-on services such as Kasasa Protect identity protection, TruStage insurance referrals, and investment/retirement services through Higgins Financial Advisors and Osaic Wealth.

Product overview

Finger Lakes Federal Credit Union offers a comprehensive suite of financial products organized around banking, lending, and business services. The core banking platform includes checking accounts (with Kasasa Cash and Kasasa Cash Back reward accounts), savings accounts, certificates, money market accounts, and retirement/IRA accounts. The credit union provides a full range of lending products including mortgages, home equity loans/HELOCs, auto loans, personal loans, debt consolidation loans, student loans (through Student Choice partnership), and various specialty loans (RV, boat, share-secured). Business services encompass business checking, savings, money market accounts, commercial real estate loans, and merchant services. Digital banking is delivered through online banking, the FLFCU mobile app, and digital wallet integration (Apple Pay/Google Pay). The credit union also offers add-on services including Kasasa Protect identity protection, TruStage insurance products, investment services through Osaic Wealth/Higgins Financial Advisors, and financial education resources.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Savings Account Primary savings account establishing membership ownership in the credit union, requiring a $5 minimum opening balance and photo ID.
• Checking Accounts (Kasasa Cash / Kasasa Cash Back) Personal checking accounts including Kasasa Cash and Kasasa Cash Back reward checking options that earn cash back or high interest rates when members meet qualifying activities.
• Share Certificates (CDs) Term deposit accounts with fixed rates for specified periods, available for personal and business accounts.
• Money Market Accounts Savings accounts offering competitive rates with limited check-writing privileges.
• Retirement / IRA Accounts Individual Retirement Accounts including Traditional, Roth, and Coverdell options for retirement savings.
• Club Accounts Goal-based savings accounts such as Holiday Club accounts with automatic fund transfers.
• Youth Savings Accounts Savings accounts designed for young members across age-appropriate tiers.
• Visa Credit Cards Personal and business credit card products, including Business Rewards cards with cash-back rewards and competitive rates.
• Mortgages Home purchase and refinancing mortgages with multiple term options.
• Home Equity Loan Lump-sum loan using home as collateral with fixed interest rates, no closing costs, and repayment terms up to 20 years. Allows borrowing up to 85% of home value less existing home loan debt.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity with flexible access to funds as needed.
• Home Improvement Loan Loans specifically designed to finance home renovation and improvement projects.
• Auto Loans Vehicle financing for purchasing new or used vehicles, refinancing existing auto loans, and lease buyouts.
• Personal Loans Unsecured personal loans for various financial needs with fixed rates and flexible terms.
• Debt Consolidation Loan Loan that consolidates high-interest debts into a single fixed-rate monthly payment, with borrowing up to $15,000, terms up to 60 months, and no prepayment penalties. Optional credit-life or credit-disability insurance available.
• Recreation Vehicle Loan Financing for recreational vehicles including RVs and campers.
• Boat Loan Financing for boat purchases.
• Private Student Loan Private student loans for undergraduate and graduate students with competitive fixed and variable rates starting at 3.99% APR, multi-year approval available, and flexible repayment options. Offered through Student Choice partnership.
• Student Loan Refinance Refinancing option allowing borrowers to consolidate federal and private student loans including Parent and Graduate PLUS loans.
• Business Checking Business deposit accounts with features designed for business banking needs including online banking and bill pay.
• Business Savings, Money Market, and CDs Business savings, money market, and certificate of deposit accounts for small business deposit needs.
• Business Loans & Lines of Credit Term loans and revolving lines of credit to support business growth and operations.
• Commercial Real Estate Loans Financing for commercial property purchases and commercial real estate development.
• Business Vehicle Loans Financing for business vehicles and fleet purchases.
• Credit Card Processing (Merchant Services) Merchant services enabling businesses to accept credit card payments.
• Remote Deposit Capture Business service allowing remote check deposits without visiting a branch.
• Investment & Retirement Services Investment and retirement planning services delivered through partnership with Higgins Financial Advisors and Osaic Wealth, including personalized consultations and retirement planning.
• TruStage Insurance Products Life, auto & home, and accidental death & dismemberment (AD&D) insurance products offered through TruStage, including $1,000 of no-cost AD&D coverage for members.
• Kasasa Protect Identity Protection Identity fraud protection and restoration service with 24/7 credit monitoring, dark web monitoring, lost wallet protection, and identity restoration assistance, powered by CSID/Experian. Priced at $7.99–$9.99 per month for checking account holders.
• Wire Transfers Domestic and international wire transfer services for members.
• Homebuyer Dream Program First-time homebuyer assistance program offering education and potentially reduced down payment requirements.

Quantifiable outcome

• 93% high-satisfaction rate from members
• +3 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Four partnerships are on record, tiered core.

• Student ChoicecoreTechnology or IntegrationFinger Lakes FCU partners with Student Choice to offer private student loans to members. Student Choice provides the technology platform for applications, document uploads, school certification, and ongoing account management. The partnership enables FLFCU to serve students and families across the Finger Lakes region and nationwide through a streamlined digital experience. Competitive fixed and variable rates starting at 3.99% APR are offered.
• Kasasa / CSID / ExperiancoreTechnology or IntegrationKasasa Protect identity protection and credit monitoring service is powered by CSID (a part of Experian Information Solutions, Inc.). The service provides 24/7 credit monitoring, dark web monitoring, lost wallet protection, and identity restoration. Offered as an add-on to FLFCU checking accounts for $7.99-$9.99/month.
• TruStage InsurancecoreChannel Partner/ Reseller/ DistributorTruStage Insurance provides life, auto & home, and accidental death & dismemberment (AD&D) insurance products to Finger Lakes FCU members. TruStage has over 80 years of partnership with credit unions. FLFCU offers $1,000 of no-cost TruStage AD&D insurance to members, with additional coverage available for purchase. Members can access instant quotes online at TruStage.com.
• Higgins Financial Advisors / Osaic WealthcoreChannel Partner/ Reseller/ DistributorFinger Lakes FCU has a partnership with Higgins Financial Advisors to provide investment and retirement services to members. Higgins Financial Advisors is a Registered Investment Advisor operating through Osaic Wealth, Inc. (member FINRA/SIPC). Services include personalized investment consultations, retirement planning, and financial wellness guidance. Main office located at 6819 Pittsford Palmyra Rd, Suite 100, Fairport NY, 14450.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Visions Federal Credit Union: New York-based federal credit union offering consumer and business banking, mortgages, and student lending across Upstate NY. Closely comparable product mix and field-of-membership model to FLFCU.
• Reliant Community Federal Credit Union: Sodus, NY-based federal credit union serving Wayne, Monroe, and surrounding counties. Directly comparable Finger Lakes/Upstate NY credit union with consumer banking, mortgages, and business lending.
• ESL Federal Credit Union: Rochester, NY-based federal credit union serving a similar Upstate New York membership. Directly comparable as a community-focused credit union with consumer, mortgage, and business banking products in overlapping Monroe County geography.
• First New York Federal Credit Union: New York-based federal credit union offering consumer and business banking services. Comparable community credit union with similar product suite and member-owned cooperative structure.
• Connex Credit Union: Connecticut-based community credit union with consumer, mortgage, and business banking products. Comparable mid-sized community credit union model with similar field-of-membership focus.
• Sidney Federal Credit Union: New York-based community credit union offering personal banking, lending, and business services. Comparable cooperative credit union model serving Upstate New York members.
• Sunmark Credit Union: New York state-chartered credit union headquartered in Latham with branches across Upstate and Capital Region. Similar community credit union model with comparable consumer and business lending products.

Broad incumbents

• Bethpage Federal Credit Union: Large New York-based federal credit union with a much broader footprint and asset base. Comparable in product mix (consumer, mortgage, business) but operates at significantly greater scale across Long Island and beyond.
• SEFCU (now Broadview Federal Credit Union): Albany, NY-based federal credit union serving the Capital Region. Comparable community credit union model with similar products, though operating at larger scale and broader geographic reach than FLFCU.

Regional players

• Tompkins Community Bank: Ithaca, NY-based community bank serving the Finger Lakes region with consumer and business banking, mortgages, and wealth services. Comparable regional deposit-taker and lender competing in overlapping geography with FLFCU.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/FingerLakesFCU
• Facebookfacebook.com/FingerLakesFCU
• LinkedInlinkedin.com/company/finger-lakes-federal-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Finger Lakes Federal Credit Union