Ohio Catholic Federal Credit Union

What Ohio Catholic Federal Credit Union does

Ohio Catholic Federal Credit Union, doing business as OC Federal Credit Union, is a federally chartered, member-owned credit union founded in 1954 and headquartered at 13623 Rockside Rd in Garfield Heights, Ohio, with five branches across Northeast Ohio (Garfield Heights, Macedonia, Akron, North Canton opened May 2023, and Strongsville). The institution is NCUA-insured, holds an Equal Housing Lender designation, and carries a BauerFinancial 5-Star rating, serving primarily individual Catholic community members and, secondarily, small businesses, nonprofit and church organizations, and high-net-worth members through a dedicated Private Wealth Management division. Membership eligibility is rooted in Catholic parish affiliation and adjacent community criteria, which the institution reinforces through Catholic school grants of approximately $68,000-$77,000 annually, parish ministry programs, and a foundation partnership with the Ohio Catholic Foundation.

The product set spans consumer deposits (checking, savings, money market, share certificates, IRAs, club accounts, debit cards), consumer lending (auto, mortgage, home equity/HELOC, personal, recreational vehicle, student loans, and Mastercard credit cards), business banking (business checking, commercial loans, Positive Pay fraud protection, nonprofit organization accounts), and wealth services. Distribution is multi-channel: the five branches, a 24/7 web banking portal, iOS and Android mobile apps with mobile deposit and card controls, mobile wallet integration (Apple Pay and Google Pay), surcharge-free access to MoneyPass, Alliance One, and CO-OP ATM networks, CO-OP shared branching, and a phone-based Member Services center and Loan Zone lending team. Member onboarding is supported through ClickSWITCH for direct deposit migration.

Revenue is generated principally through net interest income on the loan portfolio (auto, mortgage, home equity, credit cards, personal, student) net of interest paid on deposits, supplemented by transaction-based fee streams including deposit account fees (overdraft, NSF, maintenance), credit card interest and balance transfer fees, loan origination and ancillary fees (GAP insurance, mechanical breakdown protection), insurance referral fees from Ohio CU Financial Services, and modest digital advertising revenue from Google, Facebook, and Bing remarketing. As a not-for-profit cooperative, OC Federal returns earnings to members through competitive deposit rates (e.g., 4.00% APY 3-month certificate, 3.75% APY money market on $25K new money) and lower loan rates (auto refinance/lease buyout from 4.99% APR, HELOC at Prime minus 0.25%, credit cards 10.99%-17.99% APR) rather than through external profit distribution.

Name

Ohio Catholic Federal Credit Union

Legal name

Ohio Catholic Federal Credit Union

Website

https://ocfederal.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

51–100 employees

Short description

OC Federal Credit Union (formerly Ohio Catholic Federal Credit Union) is a federally chartered, member-owned credit union founded in 1954, operating five branches across Northeast Ohio to provide consumer deposits, consumer and mortgage lending, business banking, and private wealth management primarily to Catholic community members and adjacent small businesses and nonprofits.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Faith-Based & Affinity Credit Unions (FSABAEAH)

akta.pro secondary industry

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

Keywords

• Credit union services
• Consumer lending
• Retail banking products
• Community banking
• Deposit and loan products

Headquarters

HQ city

Maple Heights

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest earned on loans (auto, mortgage, home equity, credit cards, personal, student loans) minus interest paid on deposits (checking, savings, certificates, IRAs, money market)
2. Deposit Account Fees: Various fees associated with deposit accounts, including overdraft, NSF, and maintenance fees
3. Credit Card Fees: Interest charges on credit card balances, balance transfer fees (3% promotional), annual fees (none on rewards card)
4. Loan-Related Fees: Origination fees, late payment fees, prepayment penalties, mechanical breakdown protection, GAP insurance
5. Insurance Services: Referral fees from Ohio CU Financial Services for insurance products including credit life, disability, fixed index annuities
6. Digital Banking Services: Revenue from third-party advertising networks (Google AdWords, Facebook, Bing remarketing) and analytics services

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Ohio Catholic Federal Credit Union (now OC Federal Credit Union) is a not-for-profit, member-owned federal credit union offering consumer and business deposit products (checking, savings, money market, share certificates, IRAs, debit cards), a full lending suite (auto, mortgage, HELOC, personal, RV, student, credit card), nonprofit and small-business banking, and private wealth management. Members access services through five Ohio branches, 24/7 online and mobile banking, card controls, mobile wallet, and surcharge-free ATM networks.

Product overview

OC Federal Credit Union (formerly Ohio Catholic Federal Credit Union) operates as a full-service credit union offering a comprehensive suite of financial products organized into four core pillars: Consumer Banking (checking, savings, money market, certificates, IRAs, debit cards), Lending (auto loans, mortgages, home equity, personal loans, credit cards, student loans, recreational vehicle loans), Business Banking (business checking, commercial loans, nonprofit banking, private wealth management), and Digital Banking (online banking, mobile apps, card controls, bill pay, financial calculators). The credit union differentiates through its Catholic community heritage, in-house loan processing, and relationship-based service model. Digital services are accessible via web portal and native iOS/Android mobile applications with mobile wallet integration for Apple Pay and Google Pay.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts Personal checking account products providing everyday banking services with online and mobile banking access for individual credit union members.
• Savings Accounts
• Money Market Accounts
• Club Accounts
• Share Certificates
• IRAs (Individual Retirement Accounts)
• Debit Cards
• Business Banking
• Business Loans
• Nonprofit Organization Banking
• Private Wealth Management
• Auto Loans
• Recreational Vehicle Loans
• Personal Loans
• Mortgages
• Home Equity Loans and HELOCs
• Student Loans
• Credit Cards
• Online Banking
• Mobile Banking App (iOS and Android)
• Positive Pay

Quantifiable outcome

• Standard credit card rates 38% below industry average (10.99% vs 14.52% average)
• +2 more outcomes

Named customers3 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

Integration10 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Ohio CU Financial ServicescoreGTM or Marketing PartnerInsurance services partner providing credit life and disability insurance, mechanical breakdown protection, and fixed index annuities. Located at ohiocufinancialservices.com with dedicated insurance sales manager.
• Ohio Catholic FoundationcoreStrategic or Co-development PartnerCatholic Foundation partner supporting parish ministry grants, Catholic education scholarships, and 50/50 raffle programs for Catholic education support.
• MoneyPassminorChannel Partner/ Reseller/ DistributorSurcharge-free ATM network partner providing OC Federal members access to thousands of ATMs nationwide at no additional cost.
• CO-OP NetworkminorChannel Partner/ Reseller/ DistributorSurcharge-free ATM network partner offering additional ATM access for OC Federal credit union members.
• Alliance OneminorChannel Partner/ Reseller/ DistributorSurcharge-free ATM network partner expanding ATM access options for members.
• Student ChoiceminorChannel Partner/ Reseller/ DistributorStudent loan partner providing private student loan options through ohiocatholicfcu student loans portal.
• Google AdWordsminorGTM or Marketing PartnerRemarketing service used to advertise on Google search results pages and third-party websites to previous site visitors.
• FacebookminorGTM or Marketing PartnerSocial media remarketing partner for targeted advertising to previous website visitors through Facebook's ad network.
• BingminorGTM or Marketing PartnerRemarketing partner through Bing Ads for advertising to previous website visitors on Bing and Yahoo search networks.

Scale indicators4 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Cardinal Credit Union: Ohio-based community credit union with similar member-focused cooperative model. Compares directly to OC Federal in scale, branch-based service, and community banking approach within the Ohio market.
• Kemba Financial Credit Union: Ohio-headquartered credit union serving consumer and business members with comparable deposit, lending, and digital banking products. Closely matched in regional footprint and product breadth.
• Christian Community Credit Union: Faith-based credit union serving Christian community members with similar cooperative structure and mission-aligned lending. Provides direct comparison for faith-based membership strategy.
• CME Federal Credit Union: Ohio community credit union offering consumer deposits, lending, and business banking. Comparable in scale and product mix, providing a like-for-like regional competitor benchmark.
• St. Mary's Credit Union: Faith-affiliated credit union offering member banking services with a community-driven cooperative model. Directly comparable on mission, structure, and product offering.
• Catholic Financial Life: Catholic-affiliated financial services organization serving faith community members with similar mission-driven approach to financial products and community engagement.

Broad incumbents

• Wright-Patt Credit Union: One of the largest credit unions in Ohio with a similar full-service consumer and business banking model. Serves as a scaled-up benchmark for OC Federal's potential growth trajectory.
• Bethpage Federal Credit Union: Large federally chartered credit union with broad consumer and business banking. Comparable federal charter and member-owned cooperative structure at much larger scale.
• Connexus Credit Union: National credit union with strong digital platform and full product suite. Representative of the digital-first competitive set OC Federal faces for member acquisition.

Regional players

• Lake County Educational Federal Credit Union: Small Ohio community credit union operating in a similar regional market with comparable scale and member-focused banking model.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Instagraminstagram.com/ocfederalcreditunion
• Xx.com/OhioCatholicFCU

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 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 Ohio Catholic Federal Credit Union