What KV Federal Credit Union does

KV Federal Credit Union (KV FCU) is a federally chartered, NCUA-insured member-owned credit union cooperative founded in 1962 as St. Augustine Federal Credit Union and rebranded in 1992. The institution operates three branches in Augusta (headquarters, 316 West River Road), Oakland, and Waterville, Maine, and serves a field of membership defined as individuals who live, work, attend school, or worship in Kennebec or Somerset Counties, Maine, along with their immediate family and in-county businesses. It reports more than 10,000 members.

The product set is a full-service consumer and small-business banking suite organized around four pillars: (1) deposit products — Kasasa-branded reward checking (Kasasa Cash, Cash Back, Tunes, Saver), Share Draft / Special Share Draft accounts, Share / Special Share / Club / HSA / IRA / Youth Accounts, and Share Certificates; (2) consumer lending — first and second mortgages, HELOC, land loans, auto, recreational vehicles, motor homes, signature personal, share-secured, certificate-secured, credit-builder, and lines of credit; (3) small-business lending — Commercial Equipment Loans for DBA members; and (4) payment and digital channels — VISA debit and credit cards, mobile banking app (iOS/Android), KV Online, Bill Pay, iTalk phone banking, and Apple Pay / Samsung Pay / Google Pay wallet integration. Core banking is operated on Omnicommander infrastructure; Kasasa, Synergent, CU24, SURF, CO-OP Shared Branching, and TruStage function as vendor and channel partners.

The revenue model is the standard credit-union net-interest-margin model: interest income on the loan portfolio (mortgages, consumer, small-business), supplemented by recurring dividend-bearing share deposits that fund the loan book, plus transaction-based fee income from VISA interchange, overdraft, wire, and stop-payment fees, and referral-based commission from the TruStage insurance program. Deposits and lending rates are competitive within the local Maine market (e.g., share certificates up to 3.87% APY 2-year term; Kasasa Cash up to 1.26% APY; HELOC at Prime + 0%). Distribution combines direct branch service, self-serve digital channels, and partner networks — notably CO-OP Shared Branching (~140 Maine / 4,200+ nationwide) and the SURF surcharge-free ATM network (230+ Maine locations) — effectively giving the institution national physical reach without proportional capital expenditure. Leadership is led by President/CEO Christine Devine with a member-elected Board chaired by David Madore.

Name

KV Federal Credit Union

Legal name

KV Federal Credit Union

Website

https://kvfcu.org

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

11–50 employees

Short description

KV Federal Credit Union is a federally chartered, NCUA-insured member-owned cooperative serving 10,000+ members across Kennebec and Somerset Counties, Maine, via three branches and digital channels, offering consumer and small-business deposit, lending, and payment products.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Deposit accounts
• Mortgage loans
• Credit union services

Headquarters

HQ city

Augusta

HQ country

United States

HQ region

North America

Offices3 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. Interest Income from Loans: Primary revenue stream from interest charged on mortgage loans, auto loans, personal loans, home equity loans, and credit cards. Competitive rates offered to members with proceeds returned as dividends or lower fees.
2. Service Fees: Various service fees including overdraft protection fees, wire transfer fees, stop payment fees, copy fees, and returned check fees. Fee schedule available on website.
3. Interchange Revenue: Revenue generated from VISA debit and credit card transactions when members use their cards at merchants.
4. Share Certificate and Savings Account Deposits: Members deposit savings into share accounts, share certificates, and IRA accounts. These deposits are then lent to other members at higher interest rates, generating spread income.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels7 records

Core offering

KV Federal Credit Union is a member-owned, federally chartered credit union that provides retail banking products and services to over 10,000 members in Kennebec and Somerset County, Maine. Its core offering spans checking and savings accounts (including Kasasa reward checking), consumer and mortgage loans, credit/debit cards, and digital banking channels delivered through three branches plus online, mobile, and phone banking.

Product overview

KV Federal Credit Union is a full-service financial institution offering a comprehensive suite of banking products organized into checking, savings, lending, and digital banking platforms. The core checking portfolio centers on Kasasa-branded accounts (Kasasa Cash, Kasasa Cash Back, Kasasa Tunes) which offer rewards-based checking with ATM fee refunds and cash back, linked to Kasasa Saver for automatic savings accumulation. Traditional Share Draft accounts provide basic checking with VISA debit access. Savings products span Share Accounts, Special Share Accounts, Club Accounts (including Christmas Club), Health Savings Accounts, Individual Retirement Accounts, and Youth Accounts structured by age (Sweet Pea, Monty Moose, Teen, Grad Club). The lending division offers real estate products (First/Second Mortgages, Home Equity Lines, Land Loans), consumer loans (Auto, Recreational Vehicles, Motor Homes, Signature Personal, All Season), secured loans (Share Secured, Certificate Secured, KV Credit Builder), and commercial equipment financing. Digital banking is delivered through KV Online platform, Mobile Banking app, Bill Pay, iTalk phone banking, and Mobile Wallet integration with Apple Pay, Samsung Pay, and Google Pay. The institution operates three physical branches in Augusta (main), Oakland, and Waterville, Maine, with access to CU24, SURF ATM, and Shared Branching networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Kasasa Cash Back Free reward checking account offering 3% cash back on debit card purchases up to $9.00/month and nationwide ATM fee refunds up to $25.00/month, requiring 12 debit card purchases and online banking login per month. Targeted at consumer members seeking rewards on everyday spending.
• Kasasa Cash High-yield checking account earning 1.26% APY on balances up to $10,000 with nationwide ATM fee refunds, linked to Kasasa Saver for automatic savings transfer. Targeted at consumer members seeking interest-bearing checking.
• Kasasa Tunes Reward checking account offering refunds on iTunes, Amazon, or Google Play purchases ($10/month plus $20 signup bonus) along with ATM fee refunds. Targeted at consumer members seeking entertainment-related rewards.
• Kasasa Saver High-interest savings account linked to Kasasa Cash or Kasasa Cash Back checking, automatically receiving checking rewards. Earns 0.50% APY on balances up to $10,000. Targeted at consumer members building savings through automated checking rewards.
• Share Draft Account Personal checking account with no minimum balance requirement, up to 6 monthly transfers from share accounts, check-cashing services, and KV VISA check card access. Targeted at consumer members seeking basic checking.
• Special Share Draft Premium checking account requiring $2,500 minimum balance to earn monthly dividends, with all Share Draft benefits and no per-check fees. Targeted at consumer members maintaining higher balances.
• Share Accounts (Share and Special Share) Basic savings account (Share) with $25 minimum balance for membership, earning monthly dividends on balances over $100, plus a Special Share Account tier requiring $2,500 minimum with higher dividend rates up to 2.02% APY for balances over $75,000. Targeted at consumer members.
• Club Accounts Goal-based savings accounts, including Christmas Club accounts that pay out in fall, with weekly deposit options and payroll deduction capability. Targeted at consumer members saving toward specific goals.
• Health Savings Account (HSA) Tax-advantaged savings account for qualified medical expenses, available to those with High Deductible Health Plans, with pre-tax contributions and flexible access via debit card or check. Targeted at consumer members with HDHP coverage.
• Individual Retirement Account (IRA) Tax-advantaged retirement savings option using shares and certificates, offering traditional and Roth IRA variants. Targeted at consumer members planning for retirement.
• Youth Accounts (Sweet Pea, Monty Moose, Teen, Grad Club) Tiered youth banking program covering ages 0-24: Sweet Pea (0-4, joint with parent/guardian), Monty Moose (5-12, $5 minimum), Teen (13-17, eligible for VISA debit and credit card up to $500 with co-signer), and Grad Club (18-24, eligible for VISA credit up to $1,500 and check cards with co-signer). Targeted at member families building financial literacy from birth through young adulthood.
• Share Certificate Term deposit account with $500 minimum, terms from 6 months to 5 years, earning higher dividends than regular savings (up to 3.87% APY on 2-year terms) with borrowing capability against the certificate. Targeted at consumer members seeking higher-yield, fixed-term savings.
• First Mortgage Home loans for primary residential properties including up to 4-unit properties, with competitive fixed rates, terms of 10-30 years, and ability to borrow up to 80% of home value. Targeted at consumer members purchasing or refinancing a primary residence.
• Second Mortgage Home equity loans in addition to a first mortgage, with rates ranging from 5.50% APR (5-year) to 6.00% APR (15-year) and minimal closing costs. Targeted at consumer members leveraging existing home equity.
• Home Equity Line of Credit (HELOC) Revolving credit line using home equity (up to 80% of value minus first mortgage balance) with variable Prime Equity rate of 6.75% APR effective 01/01/2026, owner occupancy required. Targeted at consumer members needing flexible access to home equity.
• Land Loan Real estate loans for building or investment with rates from 7.99% (5-year) to 8.49% (15-year), up to 80% of purchase value. Targeted at consumer members purchasing land for construction or investment.
• Auto Loan Financing for new or used vehicles with no application fee, 100% financing available for certain model years, and Maine Cars Shopping Service integration. Targeted at consumer members purchasing vehicles.
• Recreational Vehicle Loan Loans for campers, boats, trailers, snowmobiles, motorcycles, and ATVs with terms based on financed percentage of value. Targeted at consumer members financing outdoor recreational equipment.
• Signature Personal Loan Unsecured personal loans up to $5,000 for various purposes including home improvement and debt consolidation, with terms based on amount financed. Targeted at consumer members needing flexible unsecured credit.
• Share Secured Loan Loan using savings account funds as collateral at reasonable rates, helping members build credit history. Targeted at consumer members establishing or improving credit.
• Certificate Secured Loan Loan against certificate account funds without early withdrawal penalty, for emergencies or major purchases, with terms tied to certificate maturity. Targeted at consumer members with existing share certificates.
• Motor Home Loan Financing for new or used motor homes for Maine outdoor recreation with home-like amenities. Targeted at consumer members purchasing motor homes.
• Commercial Equipment Loan Business equipment and vehicle loans for members operating their own business (DBA), including new or used equipment and autos with low appraisal costs. Targeted at member small business owners.
• All Season Loan Short-term loan at attractive rates for various purposes. Targeted at consumer members needing short-duration financing.
• Line of Credit Unsecured revolving credit line for overdraft protection, emergencies, or cash needs with customized terms. Targeted at consumer members needing flexible ongoing credit access.
• KV Credit Builder Credit-building loan with $500 fixed-rate, 12-month term, and automatic payment requirement for members establishing or improving credit. Targeted at consumer members building or rebuilding credit history.
• VISA Credit Card Credit card with low fixed rate for everyday purchases or balance transfers from other cards, generating interchange revenue for the credit union. Targeted at consumer members.
• VISA Check Card (Debit) Debit card (CU24) allowing purchases at VISA debit merchants, cash withdrawals at ATMs, and transfers between accounts, generating interchange revenue. Targeted at consumer members.
• TruStage Auto & Home Insurance Auto and home insurance program offered through a partnership with TruStage Insurance Agency, providing discounted rates for credit union members with online services and 24/7 claims service. Targeted at consumer members seeking member-discounted insurance.
• KV Online Banking Platform Online banking platform providing 24/7 account access, bill payment, eStatements, transfers, loan applications, and mobile banking enrollment. Targeted at consumer members preferring self-service digital banking.
• Mobile Banking App Smartphone banking application for iOS and Android supporting mobile deposit capture, balance checking, transaction history, fund transfers, loan payments, and secure messaging. Available on Google Play and Apple App Store.
• Online Bill Pay Online bill payment service for scheduling and managing bill payments 24/7 with up to one year of payment scheduling. Targeted at consumer members managing recurring payments.
• iTalk Phone Banking Phone banking system providing 24/7 account access for transfers, loan payments, withdrawals, and balance checks via touch-tone phone, with Augusta (207) 629-3289, Waterville (207) 313-5108, and toll-free (855) 329-0935 numbers. Targeted at consumer members preferring voice-based banking.
• ATM & Shared Branching Network Access Access to CU24 ATMs, SURF surcharge-free ATM network (230+ Maine locations), and the CO-OP Shared Branching network (140+ Maine locations, 4,200+ nationwide) for deposits, withdrawals, transfers, and loan payments.
• Mobile Wallet Integration Digital wallet integration allowing members to add KV FCU Check or Credit Cards to Apple Pay, Samsung Pay, and Google Pay for contactless in-store and online purchases (Google Pay supports debit/check cards only; credit cards not compatible).

Quantifiable outcome

• Share certificates earn up to 3.87% APY on 2-year terms
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• TruStage Insurance AgencycoreGTM or Marketing PartnerTruStage Auto & Home Insurance Program offers discounted rates for credit union members through carefully selected insurance partners. KV FCU markets this program to members with online services and 24/7 claims service. Members can obtain free quotes via (855) 483-2149 or Trustage.com.
• Kasasa (Kasasa, Ltd.)coreTechnology or IntegrationKasasa provides branded reward checking account programs (Kasasa Cash, Kasasa Cash Back, Kasasa Tunes, Kasasa Saver) with standardized rewards mechanics including ATM fee refunds and cash back. KV FCU offers these accounts as part of their checking portfolio.
• SURF ATM NetworkcoreChannel Partner/ Reseller/ DistributorMaine's largest surcharge-free ATM network with over 230 locations statewide. KV FCU is a participating credit union, offering members fee-free access at all SURF ATM locations.
• CO-OP Shared Branching NetworkcoreChannel Partner/ Reseller/ DistributorShared branching network providing KV FCU members access to nearly 140 locations in Maine and over 4,200 nationwide. Members can conduct deposits, withdrawals, transfers, line of credit advances, and loan payments at any participating credit union.
• CU24coreTechnology or IntegrationATM network partner providing CU24 ATM and VISA Check Card services. Members can access ATMs displaying PLUS, NYCE, or In-Store-Banking logos for fee-based withdrawals and balance inquiries.
• Maine Credit Union LeagueminorGTM or Marketing PartnerState trade association for Maine credit unions. In 2023, KVFCU participated in the Maine Credit Union League's collective initiative that raised $1,221,868.94 to support local food insecurity programs.
• Maine Cars Shopping ServiceminorChannel Partner/ Reseller/ DistributorOnline vehicle shopping service partnered with Maine credit unions for auto loan financing. Available through memberautocenter.com for members searching for vehicles.

Scale indicators5 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Maine State Credit Union: Community-chartered credit union headquartered in Augusta, ME — the same primary market as KV FCU. Comparable in product mix (consumer lending, mortgages, deposit accounts), member segment, and federally insured structure, making it the closest head-to-head competitor for residents of Kennebec County.
• Casco Federal Credit Union: Maine-based community federal credit union offering a similar suite of deposit, lending, and digital banking products to Maine consumers. Comparable in scale, federally chartered status, and reliance on Kasasa-style consumer rewards programs, with overlapping geographic reach across central and southern Maine.
• University Credit Union: Maine-headquartered community credit union serving individual members and businesses across multiple counties with deposit, loan, and digital banking products. Operates with a similar member-owned cooperative model and competes for the same consumer banking relationships in the Maine market.
• Atlantic Federal Credit Union: Maine-based community federal credit union offering consumer and mortgage lending, deposit products, and digital services to Maine residents. Comparable in federally chartered structure, consumer-focused product set, and reliance on shared branching networks for statewide reach.
• Infinity Federal Credit Union: Maine-headquartered community federal credit union providing deposit, lending, and digital banking services to members across multiple Maine counties. Directly comparable as a small-to-mid-scale Maine CU targeting similar consumer and small-business member segments.
• Penobscot County Federal Credit Union: Maine-based community federal credit union offering consumer loans, mortgages, and deposit accounts to members in northern and central Maine. Comparable in federally chartered structure, member-owned cooperative model, and product breadth despite operating in a different county.
• York County Federal Credit Union: Maine-headquartered community federal credit union serving York County with deposit, lending, and digital banking products. Comparable in scale, federally insured status, and member-owned governance structure, competing for similar consumer banking relationships elsewhere in Maine.
• Ocean Communities Federal Credit Union: Maine-based community federal credit union with multi-branch presence and full suite of consumer lending and deposit products. Directly comparable as a community-chartered, federally insured CU targeting similar Maine consumer and small-business member segments.
• Maine Savings Federal Credit Union: Maine-headquartered federal credit union offering deposit accounts, mortgage, consumer lending, and digital services. Comparable in geographic focus on Maine consumers, federally chartered status, and member-owned cooperative operating model.
• Down East Credit Union: Maine-based community credit union offering a full range of consumer banking, lending, and digital services to Maine residents. Comparable in product suite, cooperative ownership structure, and community-charter focus on Maine consumer banking relationships.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/pages/KV-Federal-Credit-Union/396135659487
• Xx.com/kv_fcu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 KV Federal Credit Union