Firelands Federal Credit Union

What Firelands Federal Credit Union does

Firelands Federal Credit Union is a federally chartered, member-owned credit union founded in 1957 and headquartered in Bellevue, Ohio. It serves individual consumers and small-to-medium businesses across Erie, Huron, and Crawford counties in North Central Ohio through a regional branch network (with a new New London, Ohio branch planned for 2027), online banking at my.firelandsfcu.org, and a mobile application. Membership requires a $5 minimum opening deposit in a Share Savings Account; deposits are federally insured up to $250,000 per member by the NCUA.

The operating model is a standard cooperative credit union: member deposits fund a diversified loan portfolio that generates net interest income, supplemented by transaction fees, account fees, and investment securities income. Core products span Everyday and Preferred Personal Checking, Share Savings, Youth Savings, Christmas Club, Money Market, Share Certificates, and IRAs on the deposit side; Visa Platinum and Visa Signature credit cards (with the Firelands Card App and Flex Spend/Installment Payments), home mortgages, HELOCs, auto loans, SMART short-term loans, personal loans, and a Sparrow-powered Student Loan Marketplace on the consumer credit side; and Everyday/Preferred Business Checking, business savings, commercial real estate loans, commercial vehicle and equipment loans, and commercial unsecured borrowing on the commercial side. Fee structures include 500 free monthly transactions on Everyday Business Checking and a $6 monthly charge on Preferred Business Checking if balances fall below $1,500. Ancillary services include free financial counseling, digital banking (online, mobile, phone), and the Firelands Wealth Management subsidiary launched in March 2025 providing investment advisory and portfolio management.

The technology stack is a standard credit union banking platform with no disclosed proprietary AI/ML capabilities. Distribution combines branch-based relationship banking with self-serve digital channels and an outbound community engagement program: a 10-year-running Finances 101 financial education curriculum, Ohio Homebuyer Plus grants up to $20,000, Veterans Benefits Banking Program participation, $216,645 in 2024 community contributions, $72,000 in 2025 fair sponsorships, and $17,000 in 2025 high-school scholarships. Strategic priorities evident from recent activity are geographic expansion into New London, the 2023 Erie County expansion, the 2025 establishment of Firelands Wealth Management, and partnership-enabled product additions (Sparrow student loans, Rate Tracker payments, Zogo financial literacy). Revenue is not publicly disclosed.

Name

Firelands Federal Credit Union

Legal name

Firelands Federal Credit Union

Website

https://firelandsfcu.org

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

101–250 employees

Short description

Federally chartered, member-owned credit union founded in 1957, headquartered in Bellevue, Ohio, serving consumers and small businesses across Erie, Huron, and Crawford counties through branches, online and mobile banking, and a wealth management subsidiary.

Ownership category

akta.pro rank

Headquarters

HQ city

Bellevue

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue from interest earned on loan portfolios including mortgages, auto loans, business loans, and consumer loans
2. Fee-based Income: Account fees, transaction fees, overdraft fees, and service charges from personal and business checking/savings accounts
3. Investment Income: Income from investment securities and deposit holdings

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Firelands Federal Credit Union is a federally chartered, member-owned, not-for-profit cooperative financial institution that delivers retail and commercial banking products to individual consumers and small-to-medium businesses in Erie, Huron, and Crawford counties in Ohio. Its offerings span deposit accounts (checking, savings, money market, share certificates, IRAs), credit cards, consumer loans (mortgage, home equity, HELOC, auto, personal, SMART, student loans), business loans (commercial real estate, vehicle/equipment, unsecured), business payment processing, financial counseling, and wealth management services through its Firelands Wealth Management subsidiary.

Product overview

Firelands Federal Credit Union is a not-for-profit credit union serving members in Erie, Huron, and Crawford counties, Ohio. The company offers a comprehensive suite of banking products organized around core consumer and business banking services. Consumer offerings include Personal Checking (Everyday and Preferred accounts), Personal Savings (including Share Savings, Youth Savings, Christmas Club, Money Market, Share Certificates, and IRAs), Credit Cards (Visa Platinum and Visa Signature with Firelands Card App and Flex Spend options), and Loans (Home Mortgage, Home Equity, HELOC, Auto, SMART Loans, Personal Loans, and Student Loan Marketplace). Business services encompass Business Checking & Savings, Business Loans (Commercial Real Estate, Vehicle & Equipment, and Unsecured), and Rate Tracker payment processing. Additional services include Digital Banking (online and mobile), Firelands Wealth Management subsidiary, Financial Counseling, and the Welcome Home Program providing down payment grants up to $20,000. The company positions itself as a local alternative to big banks, emphasizing community involvement and member-focused service.

Differentiator

Problem solved

Functional benefit

Brands

• Firelands Card App: Mobile application for managing credit cards

Products and services

• Personal Checking Personal checking accounts (Everyday Checking with no minimum balance, free debit card, online/mobile banking; and Preferred Checking with competitive dividends) for individual members in the credit union's service area.
• Personal Savings Savings products for individual members: Share Savings, Youth Savings, Christmas Club, Money Market, Share Certificate, and Individual Retirement Account (IRA).
• Business Checking & Savings

Quantifiable outcome

• $216,645 in community contributions in 2024
• +2 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• SparrowcoreStrategic or Co-development Partner · 1 January 2025Partnership to support student loan services through the Student Loan Marketplace, helping members manage and refinance student debt.
• Firelands Wealth ManagementcoreStrategic or Co-development Partner · 1 January 2025Subsidiary of Firelands FCU providing comprehensive wealth management and investment services to members.
• Ohio Homebuyer PluscoreStrategic or Co-development Partner · 1 January 2025Program offering down payment assistance and favorable mortgage terms for Ohio homebuyers, providing up to $20,000 in grant funds through 2025 Welcome Home Program.
• Rate TrackercoreTechnology or Integration · 1 January 2024Partnership with Rate Tracker for business payment processing solutions. Provides businesses with secure, user-friendly payment solutions including mobile, online, and in-store processing with transparent and competitive pricing.
• Veterans Benefits Banking ProgramcoreOthers · 1 January 2024Program providing specialized banking services to veterans receiving benefits, offering financial products and services tailored to veteran needs.
• ZogominorStrategic or Co-development Partner · 1 January 2023Financial education partnership providing gamified financial literacy tools to help members learn about personal finance.
• North Coast Business LendingminorStrategic or Co-development PartnerAffiliate company providing commercial lending and business financing services.
• Area Financial ServicesminorStrategic or Co-development PartnerAffiliate company providing additional financial products and services under the Firelands umbrella.

Scale indicators5 records

Recent moves9 records

Expansion highlights7 records

Direct peers

• Wright-Patt Credit Union: Ohio-based federal credit union offering consumer and business banking, mortgages, and wealth services. Comparable as a federally chartered Ohio credit union serving members across overlapping Midwestern markets with similar product breadth.
• KEMBA Financial Credit Union: Federally chartered Ohio credit union providing checking, savings, lending, and business banking to members. Comparable geographic footprint and similar member-owned cooperative model serving Ohio households and small businesses.
• Atomic Credit Union: Ohio-based federal credit union serving consumer and business members across the state. Comparable in scale, federal charter, and member-owned cooperative structure focused on community banking in Ohio.
• CME Federal Credit Union: Ohio-based federal credit union offering consumer and commercial banking products. Comparable in regulatory structure (federal charter, NCUA-insured) and as an Ohio-domiciled community credit union serving individual and business members.

Broad incumbents

• Pentagon Federal Credit Union: National federal credit union providing consumer banking, mortgages, credit cards, and auto lending. Comparable in federal charter and product breadth; differs as a much larger institution with a national digital footprint.
• SchoolsFirst Federal Credit Union: Large federally chartered credit union offering full consumer, business, and wealth services. Comparable as a federal credit union with comprehensive product set; differs in scale and field-of-membership focus.
• Navy Federal Credit Union: Largest U.S. federal credit union offering consumer, business, and investment services. Comparable as a federal credit union serving defined membership; differs dramatically in scale, brand, and product sophistication.

Regional players

• Connexus Credit Union: Federally chartered credit union serving members across multiple states with full consumer and mortgage offerings. Comparable in cooperative structure and digital banking focus; differs in geographic orientation outside Ohio.
• Croghan Colonial Bank: Community bank headquartered in Fremont, Ohio (Erie County), overlapping directly with Firelands FCU's service area. Comparable as a community-focused financial institution competing for the same deposit and small-business lending market in northern Ohio.
• Old Fort Banking Company: Ohio-based community bank offering consumer and business banking services. Comparable as a regional, relationship-driven financial institution competing for deposits, mortgages, and small-business lending in northern Ohio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/firelands-federal-credit-union
• TikToktiktok.com/@firelands.fcu
• Facebookfacebook.com/FirelandsFCU

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Firelands Federal Credit Union