Highmark Federal Credit Union

What Highmark Federal Credit Union does

Highmark Federal Credit Union is a federally chartered, member-owned cooperative credit union headquartered at 725 5th Street, Rapid City, South Dakota. Originally chartered on October 28, 1940 as Rapid City Teachers' Federal Credit Union, it has operated continuously for more than 85 years and rebranded to its current name to reflect a community-wide field of membership covering Butte, Custer, Fall River, Harding, Lawrence, Meade, and Pennington counties in western South Dakota plus Campbell, Crook, Niobrara, and Weston counties in eastern Wyoming. The institution is regulated by the NCUA and operates as a not-for-profit financial cooperative, returning value to members through competitive deposit rates, lower loan rates, and reduced fees.

The institution distributes a full personal and business banking product suite through five physical branch locations, an extensive ATM network, a 24/7 contact center (800-672-6365), and digital channels including iOS and Android mobile applications and an online banking portal. Core personal products include savings, checking, VISA credit cards, HELOC, personal loans, mortgage loans, vehicle loans (4.85% APR), and recreational vehicle/toy loans (5.25% APR). Business banking includes savings, checking, business loans (including SBA loans, real estate, equipment, and lines of credit), and business credit cards. The product surface is extended by third-party integrations: Autobooks for business invoicing and payment acceptance, Kasasa for reward-based checking, Money Mammals for youth financial education, and mobile wallet support (Apple Pay, Google Pay, Samsung Pay). A credit score monitoring tool, a Highmark Rewards Program, and a 2025-launched Highmark Everyday Rewards shopping loyalty program round out the member engagement layer.

Revenue is generated primarily through net interest income on the loan portfolio, supplemented by transaction and account fees (overdraft Courtesy Pay, account maintenance). Pricing on loan and deposit products is publicly disclosed on the website, while specific fee schedules are in the Schedule of Fees & Charges. The go-to-market motion is direct-to-consumer and direct-to-SMB within the defined field of membership, supported by community involvement, organic social media (Facebook, YouTube, Instagram, LinkedIn), and a career presence on Indeed.com. The credit union employs between 11 and 50 people and has no parent company, subsidiaries, or external ownership structure.

Name

Highmark Federal Credit Union

Legal name

Highmark Federal Credit Union

Website

https://highmarkfcu.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

11–50 employees

Short description

Highmark Federal Credit Union is a federally chartered, member-owned cooperative credit union founded in 1940 and headquartered in Rapid City, South Dakota, serving individuals, families, youth, and small businesses across western South Dakota and eastern Wyoming through five branch locations and full personal and business banking products.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

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

Keywords

• Personal banking services
• Business banking products
• Credit union membership
• Consumer loan services
• Community financial services

Headquarters

HQ city

Rapid City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Interest earned on loans including vehicle loans, mortgage loans, personal loans, home equity lines of credit, recreational vehicle loans, and credit cards. This is the primary revenue stream for the credit union.
2. Deposit Interest: Interest paid to members on savings, checking, and certificate of deposit accounts. Credit unions return earnings to members through higher savings rates and lower loan rates.
3. Fee-based Income: Various banking fees including overdraft protection (Courtesy Pay), account maintenance, and other service charges disclosed in the Schedule of Fees & Charges.
4. Account and Service Fees: Fees associated with checking accounts, overdraft services, and other account-related services outlined in disclosure documents.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Highmark Federal Credit Union is a federally chartered, member-owned credit union providing personal and business banking products, including savings accounts, checking accounts, credit cards, mortgage loans, home equity lines of credit, personal loans, vehicle loans, recreational vehicle loans, and commercial/SBA lending. The institution serves a defined community field of membership across western South Dakota and eastern Wyoming through 5 physical branch locations combined with digital banking channels (mobile apps, online banking, and mobile wallet support).

Product overview

Highmark Federal Credit Union operates as a single-institution credit union offering a unified portfolio of financial products and services for both personal and business members. The core banking offerings include savings, checking, credit cards, and various loan products (mortgages, personal loans, vehicle loans, HELOCs, and recreational vehicle loans). Business banking includes savings, checking, loans, and credit cards. The product suite extends through digital add-on services including Digital Banking, Mobile Wallet (Apple Pay/Google Pay/Samsung Pay), the Highmark Rewards Program, the Autobooks invoicing platform, and My Credit Score monitoring. Youth banking is served through the Money Mammals Kids Club (ages 0-12) and Teen Club (ages 13-19) sub-brands, while the recently launched Highmark Everyday Rewards provides shopping benefits. The products are distributed through 5 branch locations in the Black Hills and Gillette regions, supplemented by extensive ATM networks and 24/7 online/mobile banking.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Savings
• Personal Checking
• Credit Cards
• Home Equity Line of Credit
• Personal Loans
• Mortgage Loans
• Vehicle Loans
• Recreational Vehicle/Toy Loans
• Business Savings
• Business Checking
• Business Loans
• Business Credit Cards
• Money Mammals Kids Club
• Teen Club Account
• Courtesy Pay

Named customers1 record

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

Feature3 records

Partnerships

Two partnerships are on record, tiered minor.

• Money Mammals Kids ClubminorStrategic or Co-development PartnerThe Money Mammals Kids Club is a financial education program for children ages 0-12 and teens ages 13-19. Highmark partners with this program to provide youth banking with educational apps, videos, games, newsletters, and printables. Includes the Pee Wee Penguin Club for ages 0-12 and ADOLESCENT$ Teen Club for ages 13-19. The program teaches children good saving habits through engaging content.
• Highmark Everyday RewardsminorGTM or Marketing PartnerHighmark Everyday Rewards is a loyalty rewards program where members can shop, earn, and redeem rewards. Available through a dedicated platform for Highmark members.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Regional players

• Great Western Bank: A regional commercial bank with branches across South Dakota and other Midwestern states. Competes with Highmark for consumer deposits, mortgages, and small business lending in the same local geography, though as a for-profit bank rather than a cooperative.
• Bellco Credit Union: A Colorado-based community credit union serving a similar rural/mountain-west demographic with personal and business banking. Comparable in scale, member-owned model, and product portfolio to Highmark, though operating in a different state.

Broad incumbents

• PenFed (Pentagon Federal Credit Union): One of the largest U.S. federal credit unions, demonstrating the scale ceiling of the federal-charter cooperative model. Comparable to Highmark's federal-charter and NCUA-regulated structure, but with vastly greater national reach and product breadth.
• Connexus Credit Union: A community-charter credit union with national online reach, competing with Highmark for digitally-engaged members while offering a comparable community-cooperative value proposition. Demonstrates scale-up path for community CUs expanding digital channels.
• Digital Federal Credit Union (DCU): A federally-chartered, member-owned credit union with a strong digital-first model. Demonstrates how a federal credit union can scale member acquisition beyond a single region, relevant as a peer trajectory for Highmark.
• Alliant Credit Union: A large national community-charter credit union that competes for digital-first members anywhere in the U.S. Represents the natural ceiling of where Highmark could grow via a national digital strategy while still operating as a cooperative.
• VyStar Credit Union: A larger community-charter credit union with broader geographic reach and a similar full-suite personal/business banking model. Offers scale benchmarks on member growth, digital investment, and product breadth for a credit union like Highmark.

Direct peers

• SchoolsFirst Federal Credit Union: Originally a teacher/educator-focused federal credit union (similar founding DNA to Highmark's "Rapid City Teachers' FCU" origin). Both institutions evolved from occupational to community charters; directly comparable in operating model, member-owned structure, and product mix.
• Black Hills Federal Credit Union: A community credit union headquartered in Rapid City, SD, directly competing with Highmark in the same western South Dakota geography. Operates as a near-identical community-charter credit union serving overlapping member bases and product categories.
• Truliant Federal Credit Union: A federally-chartered, member-owned credit union offering similar personal/business banking products with comparable community focus. Strong analogue for product mix and operating model at Highmark's scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xfacebook.com/HighmarkCreditUnion
• YouTubeyoutube.com/channel/UCWASUmdT6lP9_BOb8HYwrIQ
• Facebookfacebook.com/HighmarkCreditUnion
• LinkedInlinkedin.com/company/highmark-federal-credit-union/about
• Instagraminstagram.com/highmarkcu

Revenue estimate

Valuation estimate

Number of profiles

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 Highmark Federal Credit Union