Zeal Credit Union

What Zeal Credit Union does

Zeal Credit Union is a Michigan-chartered, member-owned, not-for-profit financial cooperative founded in 1954 and headquartered in Livonia, MI. It provides consumer and small-business banking products, including checking and savings accounts, money market accounts, certificates of deposit, IRAs, youth accounts, vehicle loans, mortgages and home equity loans, personal and credit-builder loans, and Visa credit and debit cards. Distribution is delivered through 17 full-service branches across Michigan's Upper and Lower Peninsula, supplemented by iOS and Android mobile applications, online banking, mobile wallet support (Apple Pay, Google Pay), and shared-branching and ATM access via the CO-OP/Velera network (30,000+ surcharge-free ATMs, 5,000+ shared branches). Digital security relies on TLS/SSL encryption, firewalls, session timeouts, and biometric authentication.

Revenue is generated primarily through net interest income on loans and deposit spreads, supplemented by transaction and account fees, interchange on Visa cards, and referral/commission income from insurance partners (Allied Solutions, TruStage, United Concordia). The credit union is federally insured by the NCUA to $250,000 per depositor and is designated as a Community Development Financial Institution (CDFI). Strategic growth over 2025-2026 has been driven by the absorption of Credit Union Advantage (closed January 1, 2025; system conversion August 30, 2025) and the acquisition of Gogebic Range Bank (effective January 1, 2026), which together expanded the member base to over 72,000 and combined assets to in excess of $825 million. Julie Kreinbring serves as President and CEO.

Name

Zeal Credit Union

Legal name

Zeal Credit Union

Website

https://zealcu.org

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

101–250 employees

Short description

Zeal Credit Union is a member-owned, not-for-profit Michigan cooperative founded in 1954, serving over 72,000 consumer and small-business members with deposit, lending, and credit-card products through 17 branches and digital banking.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Business banking
• Credit union services

Headquarters

HQ city

Livonia

HQ country

United States

HQ region

North America

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: As a not-for-profit financial cooperative, Zeal Credit Union generates revenue primarily through interest earned on loans including mortgages, vehicle loans, personal loans, home equity loans, and credit cards. These interest income streams fund operations and enable competitive rates for members.
2. Deposit Account Fees and Services: Fees from various deposit account services including money market accounts, certificates of deposit (CDs), IRAs, and savings accounts. Interest rate spreads between what members earn on deposits and what the credit union earns on loans form a core revenue component.
3. Insurance and Partnership Products: Through partnerships with Allied Solutions, the credit union offers credit insurance, GAP (Guaranteed Asset Protection), Mechanical Breakdown Protection, and other insurance products that generate referral or commission revenue.
4. Business Banking Services: Business checking, business credit cards, business loans including SBA loans, commercial real estate loans, and business savings products serve business members with customized financial solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Zeal Credit Union is a member-owned, not-for-profit financial cooperative that provides deposit accounts (checking, savings, money market, CDs, IRAs), consumer loans (mortgages, home equity, vehicle, personal, student), credit cards, investment services, and business banking products. It serves over 72,000 members through 17 full-service branches across Michigan, a digital banking platform, and shared branching/ATM networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Personal and business checking accounts with free and interest-bearing options, mobile checking capabilities, debit cards, and direct deposit features for individual members.
• Personal Savings Accounts Interest-bearing savings accounts for individual members.
• Money Market Accounts Tiered interest-bearing savings accounts with rates from 0.30% to 0.70% APY depending on balance level, $5,000 minimum balance, dividends paid monthly.
• Certificates of Deposit (CDs) Term certificates ranging from 91 days to 60 months with guaranteed rates from 1.00% to 2.40% APY; $1,000 minimum balance for most terms; IRA CDs available with $500 minimum.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts including Traditional IRAs, Roth IRAs, and IRA Certificates of Deposit.
• Youth Accounts Age-appropriate savings accounts including Rock Star Saver for ages 0-11 and NextGen program for ages 12-17.
• Mortgage Loans Purchase mortgages and refinancing options offered through partnership with Mortgage Center for first-time home buyers and existing homeowners.
• Home Equity Loans Fixed rate home equity loans and Home Equity Lines of Credit (HELOC) for home improvements, debt consolidation, and other needs; fixed rate loans as low as 5.50% APR.
• Vehicle Loans Auto loans for new and used vehicles with terms up to 120 months and rates starting at 4.74% APR.
• Recreational Vehicle Loans Loans for boats, RVs, motorcycles, and off-road vehicles with rates starting at 5.99% APR.
• Personal Loans Signature loans for personal financial needs with instant approval options using paystub verification.
• Fresh Start Loans Credit-building loans designed to help members establish or rebuild their credit history.
• Student Loans Student loan refinancing and private student loans offered through partnership with LendKey.
• Visa Credit Cards Visa Classic and Visa Platinum credit cards with rewards programs (Rewardz), contactless payments, and travel benefits.
• Investment Services Investment products and advisory services offered to members.
• Insurance Programs Member-accessible insurance products including life, home, auto (TruStage), dental (United Concordia), and credit protection insurance through partners.
• Business Checking Accounts Business checking accounts with features tailored for small business cash flow management.
• Business Savings and Money Market Accounts Business savings and money market accounts with competitive interest rates and tiered balance structures for business deposits.
• Business Loans Commercial loans including secured business loans, equipment financing, vehicle financing, and SBA loans for business members.
• Commercial Real Estate Loans Loans for commercial property acquisition, development, and refinancing for business members.
• Equipment and Vehicle Financing Financing solutions for business equipment and vehicle purchases.
• SEP-IRA Simplified Employee Pension IRA for business owners to provide retirement benefits to employees.

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Allied SolutionscoreChannel Partner/ Reseller/ DistributorAllied Solutions provides insurance products to Zeal Credit Union members including Credit Insurance, Depreciation Protection (DPW), Guaranteed Asset Protection (GAP), Mechanical Breakdown Protection (MBP), and Auto Deductible Reimbursement (ADR). These products are offered as voluntary add-ons to vehicle loans and provide protection against total loss, theft, and mechanical failures.
• Mortgage CentercoreStrategic or Co-development PartnerMortgage Center is a mortgage partner that offers Zeal members a variety of mortgage options and exclusives through their partnership. The partnership provides members with access to mortgage products including purchase mortgages, refinancing, and home equity solutions.
• LendKeyminorChannel Partner/ Reseller/ DistributorLendKey partnership provides Zeal members with student loan refinancing options and private student loans. The partnership helps members manage and save on student loan debt through competitive refinancing rates.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerGreenPath Financial Wellness provides free financial wellness services to Zeal members including budget review, debt management plans, housing counseling, credit report review, and student loan counseling. Available as a member benefit.
• CO-OP Shared Branch NetworkcoreChannel Partner/ Reseller/ DistributorCO-OP provides Zeal members with access to 30,000+ surcharge-free ATMs and 5,000+ shared branch locations throughout the country through the Velera Shared Branch Network, enabling convenient banking nationwide.
• United ConcordiaminorChannel Partner/ Reseller/ DistributorDental insurance provider partnership offering Zeal members access to dental insurance coverage through United Concordia.
• TruStageminorChannel Partner/ Reseller/ DistributorTruStage provides life, home, and auto insurance products available to Zeal Credit Union members through this partnership.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Lake Michigan Credit Union: Michigan-headquartered community credit union with a multi-billion dollar asset base serving the same West Michigan and statewide membership. Directly comparable business model (deposits, consumer/business lending, mortgage) with broader scale, making it the most relevant large peer for Zeal's market.
• Michigan State University Federal Credit Union: Large Michigan-based credit union operating across the Lower Peninsula with similar consumer and business product sets. Both compete for Michigan members and share the community credit union model with branch and digital channels.
• Genisys Credit Union: Michigan community credit union with a comparable branch footprint in Metro Detroit and similar consumer/business lending focus. A direct competitor for member households and small businesses in Zeal's core geography.
• Community Choice Credit Union: Michigan-headquartered community credit union offering deposit, consumer, mortgage, and business products to similar member demographics. Competes directly with Zeal for Michigan personal and small-business banking relationships.
• ELGA Credit Union: Michigan community credit union serving consumer and small-business members with similar deposit, loan, and digital product offerings. Comparable asset scale and regional operating footprint make it a close peer for benchmarking.

Regional players

• Connexus Credit Union: Wisconsin-based credit union with national digital reach offering consumer deposits, lending, and home loans. Comparable product mix and digital-first orientation, though not a Michigan market participant.
• Consumers Cooperative Credit Union: Illinois-based community credit union offering consumer and small-business banking products with a similar member-cooperative model. Comparable size and product breadth, though operating in a different region.

Broad incumbents

• Security Service Federal Credit Union: Large federally chartered credit union operating across multiple states with full consumer and business product suites, including deposits, lending, and insurance. A scaled incumbent offering similar services through a multi-state footprint.
• SchoolsFirst Federal Credit Union: Large federal credit union serving a defined membership base across California with comprehensive consumer and business banking. A scaled multi-branch incumbent with similar product suite and member-owned structure.

Emerging players

• Alliant Credit Union: Digital-first credit union serving members nationwide with competitive deposit rates and consumer lending via online/mobile channels. An emerging competitor that pressures Zeal on deposit pricing and digital UX expectations.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/zealcreditunion
• YouTubeyoutube.com/playlist?list=PL3Ny94s_EPiPxF2fbLLnzWq4RVOFPe-KS
• Facebookfacebook.com/zealcreditunion
• LinkedInlinkedin.com/company/zeal-credit-union
• Instagraminstagram.com/zealcreditunion

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries2 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 Zeal Credit Union