Black Hills Federal Credit Union
Black Hills Federal Credit Union is a federally chartered, member-owned cooperative founded in 1937, providing full-service personal, business, agricultural, and wealth management banking across South Dakota, Montana, and Wyoming through 20+ branches and digital channels.
- Company typePrivate
- Founded1937
- HeadquartersRapid City, United States
- Headcount251–500
- GTM typeB2C
- OfferingServices
What Black Hills Federal Credit Union does
Black Hills Federal Credit Union (BHFCU) is a federally chartered, member-owned cooperative credit union founded in 1937 and headquartered in Rapid City, South Dakota, serving members across South Dakota, Montana, and Wyoming. The institution operates a full-service financial platform spanning personal banking (checking, savings, certificates, youth accounts, credit cards), consumer lending (mortgages, HELOC, auto, personal), commercial banking (SBA 7(a)/504, commercial real estate, business lines of credit, equipment and vehicle financing, merchant services), agricultural lending (farm operating loans, agricultural real estate, FSA-guaranteed and FSA participation loans, livestock and equipment financing), and wealth management and insurance through wholly owned subsidiaries BHFCU Insurance Services LLC, Black Hills Trust Co. LLC, Black Hills Investment Services, and Midwest Business Solutions LLC (DBA Pactola). Distribution combines 20+ physical branches concentrated in Rapid City and Sioux Falls, Interactive Teller Machines, a mobile and online banking platform on iOS and Android with mobile deposit, a personal financial management tool, and shared access to 35,000+ surcharge-free ATMs through the CO-OP Network.
BHFCU generates revenue primarily through net interest income on its loan portfolio (mortgage, consumer, commercial, agricultural) funded by member deposits, supplemented by transaction and fee-based income from credit/debit cards, merchant services, wires, overdraft, and ATM usage. Pricing follows tiered APR/APY schedules (HELOC tiers from 7.25% Platinum to 12.25% Rebuilder; CDs at 3.75% APY across 3- to 18-month terms; Premier High-Yield Money Market up to 3.00% APY at $1M+; auto loans 4.74%-5.74% by term). Membership-owned structure means profits are returned to members through lower loan rates and higher deposit yields rather than distributed to shareholders. The institution holds recognized SBA Preferred Lender status with multi-year top-volume recognition for SBA 7(a) loans in South Dakota, and is distinguished by specialized offerings including cannabis banking for compliant-state operators and workplace financial wellness programs for employer partners.
Technology and go-to-market emphasize multi-channel member access: physical branches for advisory and complex transactions, dedicated in-house business and agricultural lending teams for SMB and farm segments, mortgage loan officers stationed across Rapid City, Spearfish, and Sioux Falls, and digital channels (mobile, online, ITM video teller, phone banking) for self-service. Marketing relies on community engagement, sponsorships through the BHFCU Charitable Fund, social media, financial education content (including classroom programs and GreenPath partnership), and a member referral rewards program. The credit union operates under NCUA oversight with federally insured deposits, providing a regulated, trust-anchored foundation for member acquisition and retention.
Black Hills Federal Credit Union firmographics
Firmographics- Name
- Black Hills Federal Credit Union
- Legal name
- Black Hills Federal Credit Union
- Website
- https://bhfcu.com
- Company type
- Private
- Founded year
- 1937
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Black Hills Federal Credit Union is a federally chartered, member-owned cooperative founded in 1937, providing full-service personal, business, agricultural, and wealth management banking across South Dakota, Montana, and Wyoming through 20+ branches and digital channels.
- Ownership category
- akta.pro rank
Black Hills Federal Credit Union industry classification
Industry- Product category
- Retail Banking
- NAICS
- Credit Unions (52213), Commercial Banking (52211)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
- akta.pro secondary industry
- Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)
Keywords
Where Black Hills Federal Credit Union is headquartered
LocationHeadquarters
- HQ city
- Rapid City
- HQ country
- United States
- HQ region
- North America
Offices21 records
Markets served
Black Hills Federal Credit Union business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others
Revenue model
- Net Interest Income: Primary revenue from spread between interest earned on loans (mortgages, auto loans, personal loans, business loans, agricultural loans) and interest paid on deposits (checking, savings, certificates). As a credit union, profits are returned to members through lower rates on loans and higher rates on deposits.
- Fee-based Income: Fees from various services including credit cards, debit cards, merchant services, wire transfers, overdraft protection, and ATM usage. Also includes late payment fees and other account service charges.
- Insurance Products: Revenue from supplemental insurance products including Accidental Death & Dismemberment, Debt Protection, Extended Auto Warranty, and Guaranteed Asset Protection through BHFCU Insurance Services, LLC
- Wealth Management: Revenue from trust and investment services through Black Hills Trust Co. LLC and Black Hills Investment Services
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Home Equity Line of Credit (HELOC) - Variable rates based on credit tier |
| Subscription | Monthly | Regular Savings Account |
| Subscription | Monthly | Premier High-Yield Money Market |
| Subscription | Monthly | Certificates of Deposit |
| Subscription | Monthly | New Auto Loans |
| Subscription | Monthly | Personal Loans |
| Subscription | Monthly | Visa Credit Cards |
Go-to-market motion2 records
Distribution channels8 records
Marketing channels6 records
Black Hills Federal Credit Union product offering
Product offeringCore offering
Black Hills Federal Credit Union is a federally chartered, member-owned cooperative credit union providing full-service consumer and commercial banking to residents of South Dakota, Montana, and Wyoming. Core offerings include checking and savings accounts, certificates, consumer loans (mortgages, home equity, auto, personal, vehicle), credit cards, business and agricultural lending, merchant services, wealth management, and insurance products, delivered through 20+ branches, digital channels, and ITMs.
Product overview
Black Hills Federal Credit Union operates as a full-service financial institution offering a comprehensive suite of banking products and services organized across personal, business, and agricultural segments. The core banking platform includes checking and savings accounts (FREEdom Checking, Ultimate Checking, Regular Savings, Premier High-Yield Savings, and Certificates), supplemented by lending products (Home Equity/HELOC, Home Mortgages, Personal Loans, Vehicle Loans, and Business/Agricultural loans). The digital banking infrastructure provides Mobile Banking, Online Banking, and supplementary services like Mobile Deposit, Money Management, and Credit Score tools. Insurance offerings through BHFCU Insurance Services include auto warranties and GAP protection, while wealth management services are provided through Black Hills Trust Co. LLC and Black Hills Investment Services. The institution serves members across South Dakota, Montana, and Wyoming through 20 branch locations and extensive ATM networks.
Differentiator
Problem solved
Functional benefit
Brands
- VIBZ Kid$: Youth savings account for children 12 and under
- VIBZ
- FREEdom Checking
- Ultimate Checking
- QuickTeller
- Pactola
Products and services
- Home Mortgage Loans
Quantifiable outcome
- Multiple year recognition as South Dakota lender making highest number of SBA 7(a) loans
Companies that use Black Hills Federal Credit Union
Customer profileSegments3 records
Ideal customer profiles3 records
Black Hills Federal Credit Union technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration5 records
Feature5 records
Black Hills Federal Credit Union partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core and minor.
- CO-OP NetworkcorePartnership providing access to 35,000+ surcharge-free ATMs and shared branching services, enabling members to access their accounts at partner credit union locations nationwide.
- Small Business Administration (SBA)coreBHFCU is a designated SBA lender providing 504 and 7(a) loans to small businesses and start-ups with lower down payment requirements. Recognized as South Dakota lender making highest number of SBA 7(a) loans.
- VisacoreVisa is the payment network for BHFCU credit and debit cards, enabling card acceptance at millions of merchants worldwide.
- ZellecorePartnership enabling fast, safe money transfers between BHFCU accounts and accounts at other participating banks and credit unions.
- Apple PaycoreIntegration enabling members to make contactless payments using Apple devices at participating merchants.
- GreenPath Financial WellnessminorPartnership providing financial education resources and counseling services to members through GreenPath's educational programs.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Black Hills Federal Credit Union competitors and assessment
Company assessmentDirect peers
- Sentinel Federal Credit Union: Sentinel FCU is another South Dakota-based community credit union offering similar personal/business banking, lending, and digital services. Direct peer given same state, similar member base, and comparable product suite.
- First National Bank of South Dakota: Regional community bank headquartered in SD offering deposit accounts, business lending, and agricultural financing. Direct peer given overlapping SD geography and competing for the same small-business and farm customers.
- Dacotah Bank: South Dakota-based community bank with significant agricultural lending and full personal/business banking services. Direct competitor for ag loans and rural deposit relationships across the BHFCU service area.
- Great Western Bank: Regional commercial bank (now part of First Interstate) with branches across SD, MT, WY. Direct peer given shared tri-state footprint, full-service banking, and similar size profile.
- SchoolsFirst Federal Credit Union: Large community-chartered federal credit union with comprehensive personal/business banking, lending, and wealth services. Comparable model (community FCU, full-service, digital + branch) though serving an occupational membership base.
- Alliant Credit Union: Online-forward community credit union offering full-service banking, high-yield deposits, mortgages, and investment services nationwide. Comparable in digital maturity and full product suite, though at materially larger scale.
- Goldenwest Credit Union: Utah-based community credit union serving members across multiple western states with similar full-service banking, lending, and digital offerings. Closely comparable regional FCU operating model.
- Connexus Credit Union: Mid-sized community credit union with full personal/business banking, mortgages, and wealth services plus high-yield deposit products. Comparable full-service FCU model and tiered money-market structure.
Broad incumbents
- Navy Federal Credit Union: Largest US credit union with comprehensive personal/business banking, lending, cards, and wealth management. Represents the scaled FCU benchmark that community institutions like BHFCU compete against for deposit share and member loyalty.
- PenFed (Pentagon Federal Credit Union): Large national credit union with full banking suite, competitive deposit yields, mortgages, and cards. Broad incumbent serving geographically dispersed membership - sets the competitive benchmark BHFCU must match on rates and digital.
Market position
Strengths5 records
Weaknesses6 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
Black Hills Federal Credit Union social profiles
Digital presenceBlack Hills Federal Credit Union compliance and trust
Trust signalCompliance1 record
Black Hills Federal Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
Black Hills Federal Credit Union leadership team
Management profileNumber of profiles
Profiles15 records
Black Hills Federal Credit Union subsidiaries and ownership
Company hierarchySubsidiaries4 records
Black Hills Federal Credit Union funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Black Hills Federal Credit Union M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Black Hills Federal Credit Union
What does Black Hills Federal Credit Union do?
Black Hills Federal Credit Union is a federally chartered, member-owned cooperative credit union providing full-service consumer and commercial banking to residents of South Dakota, Montana, and Wyoming. Core offerings include checking and savings accounts, certificates, consumer loans (mortgages, home equity, auto, personal, vehicle), credit cards, business and agricultural lending, merchant services, wealth management, and insurance products, delivered through 20+ branches, digital channels, and ITMs.
Is Black Hills Federal Credit Union a public or private company?
Black Hills Federal Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Black Hills Federal Credit Union founded?
Black Hills Federal Credit Union was founded in 1937. It employs 251 to 500 people.
Where is Black Hills Federal Credit Union based?
Black Hills Federal Credit Union is headquartered in Rapid City, United States, in the North America region.
How does Black Hills Federal Credit Union make money?
Four revenue lines are on record. Net Interest Income is the primary driver. The others are fee-based Income, insurance Products and wealth Management.
Who are Black Hills Federal Credit Union's main competitors?
Direct peers on record are Sentinel Federal Credit Union, First National Bank of South Dakota, Dacotah Bank, Great Western Bank, SchoolsFirst Federal Credit Union, Alliant Credit Union, Goldenwest Credit Union and Connexus Credit Union. Broad incumbents are Navy Federal Credit Union and PenFed (Pentagon Federal Credit Union).
Does Black Hills Federal Credit Union have an API?
No public API is recorded for Black Hills Federal Credit Union.
What industry is Black Hills Federal Credit Union in?
Black Hills Federal Credit Union's product category is Retail Banking. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus), with a secondary code of FSAKAAAL, Bank & Credit Union Personal Loans (Unsecured Installment). Its NAICS code is 52213 and its SIC code is 6141.