Power Financial Credit Union

Name

Power Financial Credit Union

Legal name

Power Financial Credit Union

Website

https://powerfi.org

Company type

Private

Founded year

1951

Operating status

Operating

Headcount range

101–250 employees

Short description

Power Financial Credit Union is a member-owned South Florida credit union, founded in 1951, operating 7 branches across Miami-Dade, Broward, and Palm Beach counties and serving roughly 13 Florida counties with deposits, consumer and commercial loans, credit cards, mortgages, and partner-distributed investment and insurance services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Credit Unions (52213), Depository Credit Intermediation (5221)

SIC

Personal Credit Institutions (6141), National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Subprime / Credit-Building Credit Cards (FSAKABAJ)

Keywords

• Retail banking
• Consumer lending
• Credit union services
• Mortgage financing
• Small business banking

Headquarters

HQ city

Pembroke Pines

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income: Interest income from loan portfolio (mortgages, auto loans, personal loans, credit cards, commercial loans) minus interest paid on deposits (savings, checking, money market, CDs, IRAs). Primary revenue driver for credit unions.
2. Fee Income: Various fee income streams including overdraft/NSF fees (eliminated in 2021), monthly service fees on certain accounts, ATM fees at non-network ATMs, wire transfer fees, stop payment fees, and loan origination fees.
3. Interchange Revenue: Visa debit and credit card interchange fees on purchase transactions. Members earn rewards (cash back, points) partially funded by interchange revenue.
4. Investment Services: Power Investment Services offered through LPL Financial partnership generates revenue through investment product sales and advisory fees.
5. Insurance Services: Insurance products including auto, life, dental, GAP, mechanical breakdown protection, and payment protection offered through partnerships with Travelers, TruStage, and other insurers.
6. Payroll Services Revenue Share: Partnership with Paychex for payroll and HR services; credit union refers business customers and may receive referral compensation.

Pricing tiers

Go-to-market motion3 records

Distribution channels7 records

Marketing channels8 records

Core offering

Power Financial Credit Union is a member-owned cooperative providing deposit accounts, consumer and small-business loans, credit cards, mortgages, investment and insurance products to individuals and small businesses primarily in South Florida. Services are delivered through 7 branches, a digital banking platform, a mobile app, and an extensive partner ATM network.

Product overview

Power Financial Credit Union offers a comprehensive suite of financial products and services through both a digital banking platform (online and mobile banking) and a network of seven South Florida branches. The core offering centers on personal and business banking accounts including savings, checking, money market, and certificates of deposit. Lending products span mortgages (including first-time buyer and home equity options), auto loans (with dedicated first-time buyer programs), recreational loans, personal loans, and student loans. Business banking includes commercial loans, business credit cards, merchant services, and payroll integration via Paychex. Additional services include investment and insurance products, Greenlight financial education for youth, and extensive ATM access through the Allpoint network partnership. The digital platform supports Zelle payments, TurboTax integration, Quicken/QuickBooks connectivity, and real-time account management.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Savings Accounts Core savings accounts for individual members with a $5 minimum opening deposit, competitive dividend rates, and no monthly fees. Designed for members in South Florida building savings.
• Personal Checking Accounts Consumer checking accounts including the Cash Back Checking product offering 6.00% APY on balances up to $15,000 with no overdraft fees. Targets individual members in South Florida.
• Money Market Accounts Tiered money market savings accounts with $2,500 minimum and APY up to 3.75%, offering unlimited withdrawals and relationship-tiered pricing (MarketSure, Gold Relationship, Platinum Relationship, Optimizer Investor).
• Certificates of Deposit Term CDs ranging from 3 to 60 months with $500 minimum and promotional rates up to 3.92% APY, including 7-month, 11-month, and 13-month specials. For individual savers seeking fixed-yield deposits.
• Individual Retirement Accounts (IRAs) Retirement savings accounts including Traditional IRA, Roth IRA, and SEP IRA with tax advantages and $50 minimum opening balances, designed for individual retirement planning.
• Visa Signature Credit Card Cash-back rewards consumer credit card with 0% intro APR on new purchases for 6 months, 1.99% intro APR on balance transfers for 12 months, $0 annual fee, and 10,000 bonus points for $3,000 spend in 90 days.
• Visa Platinum Credit Card Low-interest consumer credit card with $0 annual fee, $0 balance transfer fee, 1.99% intro APR on balance transfers for 12 months and purchases for 6 months, variable APR 11.49%-18.00%.
• Mortgage Loans Comprehensive residential mortgage offerings including adjustable-rate, FHA, jumbo, fixed-rate, and Veterans mortgages with multiple term and down-payment options for member homebuyers.
• First-Time Home Buyer Program Specialty mortgage program featuring $0 down payment, no private mortgage insurance, and no application or hidden fees, targeted at members purchasing their first home.
• Home Equity Line of Credit (HELOC) Home equity financing including hybrid HELOC with a fixed-rate period and standard variable-rate HELOC with credit lines from $10,000, allowing members to borrow against home equity.
• Auto Loans New and used vehicle financing with rates from 4.62% APR for new vehicles, up to 100% financing, terms up to 96 months, and payment deferral up to 90 days for individual borrowers.
• First-Time Car Buyer Loan Auto financing program for buyers without credit history, offering terms up to 72 months, up to 100% financing, and maximum loan amounts of $45,000.
• Auto Refinance Auto loan refinancing service enabling members to lower interest rates or adjust repayment terms on existing vehicle loans to reduce monthly payments.
• Recreational Loans Financing for boats, motorcycles, RVs, and jet skis with competitive fixed rates and flexible repayment terms for individual members.
• Personal Loans Unsecured signature loans, secured personal loans, and personal lines of credit with fixed rates and terms up to 60 months for individual borrowing needs.
• Student Loans Student loans up to $100,000 for two-year and four-year colleges and accredited trade schools with flexible repayment plans and low interest rates.
• Power Investment Services Investment advisory services delivered through LPL Financial, providing one-on-one consultations, stocks, bonds, treasury bills, annuities, retirement planning (IRAs, 401(k), 403(b)), tax and estate planning, and college-savings strategies.
• Insurance Services Personal insurance products including auto, life, GAP, mechanical breakdown protection, dental, accidental death and dismemberment, and payment protection offered through Travelers, TruStage, and other carrier partners.
• Greenlight Financial Education App and Debit Card Free Greenlight SELECT financial education app and debit card for kids and teens with parental controls, allowance automation, savings goals, chore management, and FDIC insurance up to $250,000. Offered at no cost to PFCU members.
• Business Checking Accounts Tiered business checking accounts: Essential ($12.95/mo, waived with $1,500 balance), Empower ($15.95/mo, waived with $5,000 balance), and Organizational ($0/mo for nonprofits), for small businesses in South Florida.
• Business Savings Accounts Business savings accounts designed to help small businesses grow reserves, offered alongside business checking and money market products.
• Business Money Market Accounts Business money market accounts with tiered APY up to 3.75% (Business Premier), targeting small businesses and commercial loan customers with $2,500 minimum balance.
• Commercial Loans Business financing including commercial vehicle loans up to $50,000 and commercial real estate loans for owner-occupied and non-owner-occupied properties. Targets South Florida small businesses.
• Business Credit Card Visa business credit card with 1 point per dollar spent, credit lines $5,000-$40,000, interest rate capped at 18.00%, no annual fee, and 0% intro APR on purchases for 6 months.
• Business Merchant Services Payment processing services enabling small businesses to accept credit and debit card payments via point-of-sale terminals, with chargeback processing support.
• Payroll and HR Services Integrated payroll and HR solution delivered through the Paychex Flex platform, offering payroll administration, tax filing, HR assistance, and insurance services for small business customers.
• Online Banking Platform Web-based digital banking platform providing 24/7 account management, bill pay, transfers, eStatements, purchase rewards, and live chat for individual and business members.
• Mobile Banking App Mobile application for iOS and Android enabling 24/7 account access, mobile check deposit (eDeposit), bill payments, Zelle person-to-person transfers, and card management. Rated 4.9/5 stars with 2,400+ reviews on Google Play.

Quantifiable outcome

• 6.00% APY on Cash Back Checking balances up to $15,000
• +6 more outcomes

Named customers11 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature6 records

Partnerships

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

• NCR AtleoscoreTechnology or Integration · 16 June 2026Partnership to expand cash access for members through Allpoint and Allpoint+ ATM networks. Provides access to 40,000+ surcharge-free ATMs nationwide and 15,000 internationally, plus cash deposits at 3,500 Allpoint+ locations. Also includes Allpoint Screen Branding for branded ATM experience at major retailers.
• Jason Taylor FoundationflagshipStrategic or Co-development Partner · 22 April 2026Collaborative initiative to promote financial literacy among South Florida youth through spoken word poetry, coinciding with Financial Literacy Month and National Poetry Month. Jason Taylor, former NFL player and Hall of Famer, serves as ambassador for the credit union's financial empowerment mission.
• Association of Pickleball Players (APP)coreGTM or Marketing Partner · 19 November 2025Designated as the Official Credit Union of the 2025 GEICO APP Tour Championships. Partnership aims to promote financial empowerment by leveraging the popularity of pickleball in the U.S.
• GreenlightcoreTechnology or IntegrationPartnership to provide Greenlight SELECT financial education app and debit card for kids and teens to PFCU members at no cost. Greenlight offers parental controls, allowance automation, savings goals, and financial literacy games. Cards are FDIC-insured up to $250,000.
• PaychexcoreChannel Partner/ Reseller/ DistributorPartnership with Paychex to provide payroll and HR solutions to small business customers. Services include payroll administration, tax filing, human resource assistance, group health insurance, business insurance, and workers' compensation. Paychex serves over 680,000 businesses.
• LPL Financial (Power Investment Services)coreStrategic or Co-development PartnerPower Investment Services offered through LPL Financial partnership. Provides one-on-one consultations with registered financial advisors, investment products (stocks, bonds, treasury bills, annuities), retirement planning (IRAs, 401(k), 403(b)), tax and estate planning, and college-saving strategies.
• Auto AdvisorsminorChannel Partner/ Reseller/ DistributorFree car-buying concierge service that helps members find vehicles at competitive prices. Members who purchase vehicles through Auto Advisors receive an additional 0.25% auto loan rate discount. Service includes vehicle delivery to home or office.
• Travelers and TruStageminorChannel Partner/ Reseller/ DistributorInsurance partnerships with Travelers and TruStage for auto insurance products. Members receive discounts on coverage. Also provides mechanical breakdown protection, GAP insurance, and other protection products.

Scale indicators9 records

Recent moves6 records

Expansion highlights6 records

Regional players

• BankUnited: Florida-headquartered regional commercial bank with strong South Florida branch presence serving consumers and small businesses. Adjacent regional competitor that overlaps with PFCU on deposit gathering and SMB banking in the same geography.

Broad incumbents

• Navy Federal Credit Union: The largest U.S. credit union with a national footprint, serving military members and their families. Competes for deposits and consumer loans through superior digital platforms, branch coverage, and rate competitiveness.
• PenFed Credit Union: Large national credit union offering consumer banking, mortgages, and auto loans with strong digital capabilities. Comparable as a broad incumbent credit union competing for the same Florida consumer banking wallet.

Direct peers

• Tropical Financial Credit Union: South Florida-based credit union serving the Broward, Miami-Dade, and Palm Beach tri-county area with personal and business banking. Direct geographic competitor to Power Financial in the same South Florida footprint.
• VyStar Credit Union: One of the largest credit unions in Florida with branches across Jacksonville, Orlando, Gainesville, and South Florida, offering full banking, lending, and wealth services. Comparable as a top-tier Florida credit union with overlapping South Florida presence.
• Fairwinds Credit Union: Florida-headquartered credit union serving members across central and northern Florida with full-service banking, lending, and investment products. Comparable regional Florida retail and SMB credit union.
• Suncoast Credit Union: Florida-based state-chartered credit union serving consumers and small businesses across the Tampa Bay and central/south Florida regions with full-service banking, lending, and digital channels. Directly comparable to Power Financial as a Florida retail and SMB credit union.
• Space Coast Credit Union: Florida-based credit union serving members throughout the state with branches and digital banking, including consumer lending, mortgages, and business services. Comparable as a Florida retail credit union competitor.
• Grow Financial Federal Credit Union: Florida-headquartered federal credit union serving members through branches across Tampa Bay and central Florida, plus digital banking. Comparable regional credit union competing for similar Florida consumer and SMB deposits and loans.

Emerging players

• JetBlue Federal Credit Union: Smaller Florida-based federal credit union originally serving JetBlue employees, now serving broader community. Comparable as a Florida community credit union competing for similar deposit and consumer loan share.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/PowerFiCU
• YouTubeyoutube.com/user/PowerFinancialCU
• Facebookfacebook.com/PowerFiCU
• LinkedInlinkedin.com/company/power-financial-credit-union
• Instagraminstagram.com/powerficu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Power Financial Credit Union