Wellby

What Wellby does

Wellby Financial, legally JSC Federal Credit Union, is a federally chartered not-for-profit credit union founded in 1961 to serve Johnson Space Center employees and now operating across the Greater Houston metro and Galveston area. The institution serves 135,000+ members through 20+ branch locations, a mobile banking application on iOS and Android, an online banking portal, telebanking, and shared access to 55,000+ fee-free ATMs via the Allpoint Network and 5,000+ service centers via CO-OP Shared Branch. Member-owned and NCUA-regulated, the credit union returns earnings to members through lower loan rates, higher deposit rates, and reduced fees.

The product portfolio spans deposit products (Secure Spending checking up to 4.50% APY, Savings Plus up to 3.30% APY, certificates with 6-60 month terms, IRAs, youth accounts), consumer lending (fixed-rate and adjustable-rate mortgages starting at 5.902% APR, HELOCs starting at 4.99% APR for 6 months, auto loans as low as 4.69% APR, specialty vehicle loans, personal loans, Visa Platinum credit cards), investment services, and complementary offerings (safe deposit boxes, currency exchange, AD&D insurance). Digital features include mobile check deposit, Zelle person-to-person payments, Apple/Google/Samsung Pay, a Transunion-powered daily credit score tracker, identity theft recovery, and a 24/7 AI-powered virtual assistant for customer support.

The business model is net interest income–driven, supplemented by account fees (overdraft, wire, paper statement, safe deposit box), with GTM executed through direct-to-consumer digital self-service and branch-based sales, a community-led Premier Partner Program targeting Houston-area employers, and sales-assisted channels for mortgages, home equity, and investment products. The company has been led since the 2021/2022 rebrand by Marty Pell (President and CEO), Peggy McCauley (CFO), and Wes Turner (CTO).

Name

Wellby

Legal name

JSC Federal Credit Union

Website

https://wellbyfinancial.com

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

251–500 employees

Short description

Wellby Financial is a federally chartered, not-for-profit credit union serving 135,000+ members across the Greater Houston and Galveston area through 20+ branches and full digital banking, offering deposit products, mortgages, consumer loans, credit cards, and investment services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Savings Institutions and Other Depository Credit Intermediation (52218), Portfolio Management and Investment Advice (523940)

SIC

Mortgage Bankers & Loan Correspondents (6162), Personal Credit Institutions (6141), Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Large Purchase & Lifestyle Personal Loans (Unsecured Installment) (FSAKAAAG)

akta.pro secondary industry

Private Banking Lending (Securities-Backed, Real Estate, Structured Credit) (FSABADAE)

Keywords

• Retail banking
• Credit union services
• Mortgage lending
• Consumer deposits
• Vehicle financing

Headquarters

HQ city

Houston

HQ country

United States

HQ region

North America

Offices22 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Primary revenue stream from the spread between interest earned on loans (mortgages, auto loans, personal loans, HELOCs, credit cards) and interest paid on deposits (checking, savings, certificates). As a not-for-profit credit union, earnings are returned to members through lower rates on loans and higher rates on deposits.
2. Fee-based Income: Various account and transaction fees including overdraft fees ($25), ATM fees for out-of-network usage, wire transfer fees, safe deposit box rental, paper statement fees, and loan-related fees (late payment, returned payment). Many core services are free with no monthly service fees.
3. Membership Share Revenue: Primary Savings account requires $5 par value share purchase as condition of membership. This creates a minimal but consistent revenue stream from the membership requirement.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels9 records

Core offering

Wellby Financial (d/b/a JSC Federal Credit Union) is a not-for-profit, member-owned credit union providing full-service retail banking, lending, and investment products to individual consumers and households in the greater Houston and Galveston area. Core offerings include checking and savings accounts (including high-yield Secure Spending and Savings Plus), certificates/IRAs, mortgages and home equity loans, vehicle and personal loans, Visa credit cards, and investment/wealth management services, delivered through 20+ physical branches, a mobile app, online banking, telebanking, and a national ATM network.

Product overview

Wellby Financial (d/b/a JSC Federal Credit Union) is a not-for-profit financial cooperative offering a comprehensive suite of banking and financial services through both digital channels (mobile and online banking) and a network of branch locations in the greater Houston metro area. The product portfolio centers on deposit products (Secure Spending checking, Savings Plus, Certificates, IRAs, youth accounts), lending products (mortgages, home equity, vehicle loans, personal loans, credit cards), investment services, and digital banking tools. Key digital capabilities include mobile banking with mobile deposit and digital wallet support, online banking with bill pay and person-to-person transfers, and the Premier Partner Program for business employee financial wellness. The company also provides financial education resources through its Financial Wellness Center, blog articles, and community partnerships.

Differentiator

Problem solved

Functional benefit

Products and services

• Wellby Secure Spending Checking High-yield consumer checking account offering up to 4.50% APY on balances up to $50,000 with 30+ monthly debit/credit card transactions; includes Early Payday, Zelle, credit score tracker, ID theft protection, and cell phone protection. For individual consumer members.
• Wellby Savings Plus Tiered money market savings account paying standard APYs from 0.63% to 1.64%, plus a bonus rate feature that can bring the APY up to 3.30% for members who also hold a Secure Spending checking account and meet direct deposit and transaction requirements.
• Wellby Savings Account Basic consumer savings account paying 0.10% APY with no minimum balance requirement and no monthly service fee.
• Wellby Primary Savings Primary share savings account required for credit union membership, opened with a $5 minimum.
• Wellby Certificates (CDs) Share certificate (CD) products with terms from 6 to 60 months, including Bump Up certificates (12-month and 48-month) that allow members to request rate increases. Minimum $1,000 opening deposit.
• Wellby IRA Savings (Traditional, Roth, Educational) Individual Retirement Account savings options including Traditional IRA, Roth IRA, and Educational IRA, with no minimum balance requirement.
• Wellby Youth Savings (Early Start, Achievement) Age-tiered youth savings accounts: Early Start Savings for ages 4-12 (converts to Achievement at 13) and Achievement Savings for ages 13-17 (converts to Primary at 18).
• Wellby Youth Checking (Early Start Card, Achievement Card) Digital-first youth checking accounts: Early Start Card for ages 4-12 and Achievement Card for ages 13-17, both exempt from NSF and overdraft fees.
• Fixed-Rate Mortgage 30-year fixed-rate residential mortgage for home purchases and refinances, with rates starting at 5.902% APR.
• Adjustable-Rate Mortgage (ARM) Adjustable-rate mortgage products including 10-year ARM options that offer lower initial rates and flexibility for homebuyers.
• Mortgage Refinancing Home loan refinancing options that allow existing mortgage holders to lower their interest rate or change loan terms.
• Investment Property Loans Mortgage product designed to finance investment properties, second homes, and rental properties.
• Home Equity Loan Lump-sum loan using home equity as collateral, used for major purchases, debt consolidation, or home improvements.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity with a 4.99% APR introductory rate for the first 6 months and terms up to 360 months.
• Vehicle Loans (Auto) New and used auto loans with rates as low as 4.69% APR, including auto refinancing options.
• Auto Refinancing Refinancing of existing auto loans to potentially secure a lower rate.
• Specialty Vehicle Loans (Boat, ATV, Motorcycle, RV) Financing for recreational vehicles including boats/watercraft, ATVs, motorcycles, and RVs.
• Unsecured Personal Loan Unsecured personal loans for general consumer needs including major purchases and unexpected expenses.
• Debt Consolidation Loan Personal loan product designed to consolidate multiple debts into a single monthly payment, often at a lower combined rate.
• Personal Line of Credit Revolving consumer line of credit that provides flexible access to funds with interest charged only on amounts drawn.
• Secured Personal Loan Collateral-backed personal loan (savings or certificates) that typically offers lower rates than unsecured personal loans.
• Visa Platinum Credit Card Standard Visa Platinum credit card with rates based on creditworthiness.
• Visa Platinum Rewards Credit Card Visa Platinum credit card with a rewards program allowing cardholders to earn points or cash back on purchases.
• Investment and Wealth Management Services Investment services for members covering starting to invest, managing investments, building wealth, and accessing wealth management resources.
• Wellby Mobile Banking Mobile banking application for iOS and Android enabling deposits, bill pay, transfers, Zelle, credit score tracking, digital wallet, alerts, and 24/7 account management.
• Wellby Online Banking Web-based online banking platform providing eStatements, Bill Pay, transfers, person-to-person payments, and full account opening.
• Premier Partner Program Business partnership program for Houston-area employers providing financial wellness programming for their workforce, including orientation participation, monthly webinars, and 4-8 custom in-person events per year.

Quantifiable outcome

• Up to 4.50% APY on Secure Spending checking balances up to $50,000 with 30+ monthly POS transactions
• +5 more outcomes

Segments6 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

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

• Houston RocketsflagshipGTM or Marketing PartnerOfficial partner of the Houston Rockets NBA basketball team. Partnership includes logo lockup featuring both brands ('wellby financial and houston rockets logo'), co-branded marketing materials, and community engagement through sports sponsorship connecting Wellby with Houston's sports-loving and diverse population.
• Allpoint NetworkcoreTechnology or IntegrationPartnership with Allpoint Network provides members access to 55,000+ fee-free ATMs nationwide. Unlimited withdrawals, deposits, inquiries, and transfers at Wellby-owned and Allpoint Network ATMs with no surcharges.
• CO-OP Shared Branch NetworkcoreTechnology or IntegrationPartnership with CO-OP Shared Branch enables members to access 5,000+ credit union service centers nationwide for branch-level transactions when traveling outside the Houston service area.
• Habitat for HumanitycoreStrategic or Co-development PartnerWellby's community involvement includes partnership with Habitat for Humanity for house builds, demonstrating commitment to the greater Houston community and affordable housing initiatives. Community engagement program supporting sustainable change.
• Early Warning Services, LLC (Zelle)coreTechnology or IntegrationLicensed use of Zelle person-to-person payment platform enabling members to send and receive money with family, friends, and people they trust directly from the Wellby Mobile App. Transactions typically occur in minutes between enrolled users.
• NCUA (National Credit Union Administration)coreOthersFederally chartered credit union regulated by NCUA. All personal accounts insured up to $250,000 through the NCUA Share Insurance Fund, backed by the full faith of the U.S. Government.
• American Consumer CouncilminorChannel Partner/ Reseller/ DistributorMembership eligibility pathway through American Consumer Council membership, in addition to living, working, worshipping, or doing business in the greater Houston Metro or Galveston area, or being associated with one of 2,000+ companies/organizations in Wellby's field of membership.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• NASA Federal Credit Union: Federal credit union with the same aerospace-worker origin story as Wellby (NASA JSC vs. NASA GSFC), now serving a broader member base with similar checking, savings, lending, and digital banking products. Direct comparable in charter type, regulatory framework, and member expansion strategy.
• Patelco Credit Union: Mid-size federally insured credit union (~$7B in assets) serving a regional California membership with comparable consumer checking, savings, mortgage, and digital banking products. Similar size tier and digital transformation maturity make it a directly comparable mid-cap credit union peer.
• Alliant Credit Union: Digital-first national credit union with comparable high-yield checking and savings products targeting rate-sensitive consumers nationwide. Similar competitive positioning to Wellby Secure Spending/Savings Plus and overlapping digital-only member acquisition motion.
• Connexus Credit Union: Mid-size federally chartered credit union offering high-yield checking and savings, mortgages, auto loans, and digital banking comparable to Wellby's product set. Similar national digital reach paired with regional deposit footprint.
• Baxter Credit Union (BCU): Mid-to-large size federally chartered credit union serving members across the U.S. with checking, savings, lending, and digital banking. Comparable member-owned cooperative structure and product breadth for benchmarking.

Broad incumbents

• Pentagon Federal Credit Union (PenFed): One of the largest U.S. credit unions with full-service banking, mortgages, auto loans, credit cards, and investment products. Operates broadly across geographies and product categories where Wellby is geographically focused. Useful as a scale benchmark within the credit union sector.
• Amegy Bank (Zions Bancorporation): Houston-headquartered commercial bank with full retail, mortgage, and wealth offerings. Operates in the same Houston metro market with overlapping consumer deposit, mortgage, and small-business products.
• Charles Schwab Bank: National bank offering premium high-yield checking and brokerage sweep deposits that overlaps with Wellby's mass-affluent deposit strategy. A prominent benchmark for the deposit product Wellby is competing against in the Houston market.

Emerging players

• SoFi Technologies: National digital-first bank competing directly with Wellby Secure Spending checking and Savings Plus for high-yield consumer deposits. Overlaps on personal loans and HELOCs while offering a nationally unrestricted membership model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/WellbyFinancial
• YouTubeyoutube.com/c/WellbyFinancial
• Facebookfacebook.com/wellbyfinancial
• LinkedInlinkedin.com/company/wellbyfinancial
• Instagraminstagram.com/wellbyfinancial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Wellby