Consumers Credit Union

What Consumers Credit Union does

Consumers Credit Union is a member-owned, federally NCUA-insured financial cooperative founded in 1950 and headquartered in Oshtemo, Michigan. It operates 30+ branch locations across Michigan and Northern Indiana — including full-service offices in Kalamazoo, Grand Rapids, Holland, Muskegon, Walker, Portage, and South Haven — and serves consumer, small business, municipal, and youth segments. The institution describes itself as one of Michigan's largest and fastest-growing credit unions and is in its 75th anniversary year (2025).

Its product platform spans deposit products (Serious Interest Checking at 4.00% APY, savings, money market, CDs, IRAs, youth accounts), lending products (mortgages, HELOC, auto, recreational, personal, credit cards), and business services (checking, SBA loans, commercial real estate mortgages, equipment financing, lines of credit, merchant services, payroll, and the Consumers @Work employer program). Investment and advisory services are delivered through LPL Financial; insurance referrals via Nulty Insurance; card and ID-theft protection through Mastercard. Digital banking is delivered via a proprietary online platform plus native iOS and Android apps, with TellerPlus+ video-teller/ATM hybrid stations at select sites including Western Michigan University and Grand Valley State University campuses.

The not-for-profit cooperative model returns earnings to members through better rates and lower fees. Revenue mechanics rely primarily on net interest income from lending (mortgage, auto, consumer, commercial, credit card), with secondary fee-based streams (loan payment fees from external debit cards of $9.95 and phone payments of $15, credit card transaction economics, and interchange). Distribution combines physical branches, TellerPlus+ self-service, online and mobile banking, phone banking, and direct commercial/mortgage loan officers in the field. Fraud and identity protection are emphasized through automated transaction monitoring, branded caller identification, and Mastercard-backed ID theft protection.

Name

Consumers Credit Union

Legal name

Consumers Credit Union

Website

https://consumerscu.org

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

251–500 employees

Short description

Consumers Credit Union is a member-owned, NCUA-insured financial cooperative serving consumer, small business, municipal, and youth segments across 30+ branches in Michigan and Northern Indiana. It offers deposit products, mortgages, auto and commercial loans, and digital banking via proprietary online/mobile platforms and TellerPlus+ video teller stations.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Card Issuing (522210), Consumer Lending (522291)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Consumer banking services
• Credit union lending
• Mortgage financing
• Business banking solutions
• Deposit accounts

Headquarters

HQ city

Oshtemo

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue from interest earned on mortgage loans, auto loans, personal loans, credit cards, home equity lines, and business/commercial loans. Credit unions operate on not-for-profit model, returning earnings to members through better rates and lower fees.
2. Fee-Based Services: Fees for services including loan payments from non-Consumers debit cards ($9.95), phone payments ($15), and other transaction fees. Many basic services provided fee-free to members.
3. Deposit Account Revenue: Earnings from investing member deposits, with competitive rates returned to members. Checking, savings, money market, CD, and IRA accounts.
4. Credit Card Operations: Revenue from credit card transactions and interest on revolving balances.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Consumers Credit Union is a member-owned financial cooperative providing a full range of consumer and business banking products, including checking, savings, money market, CDs, and IRAs, alongside consumer and commercial lending such as mortgages, home equity lines, auto, personal, recreational, SBA, and commercial real estate loans. It also offers credit cards, merchant services, investment advisory through LPL Financial, and financial coaching/education, delivered through 30+ branches in Michigan and Northern Indiana, an online platform, and native mobile apps with TellerPlus+ interactive teller stations.

Product overview

Consumers Credit Union operates as a full-service financial institution offering a comprehensive suite of banking and lending products across personal, business, and youth segments. The credit union's core offerings center on deposit products (checking, savings, money market, CDs, IRAs) and lending services (mortgages, home equity, auto loans, personal loans, credit cards). Digital banking is delivered through a proprietary Online Banking platform and native mobile applications for Apple and Google Play. Business services include specialized lending, merchant services, and the Consumers @Work employer partnership program. Financial wellness is supported through the Consumers Coach and Financial Playbook advisory services, while youth engagement is driven by the Wimee Kids' Savings Club. The institution serves members across Michigan and Northern Indiana through a network of physical branch locations and digital channels.

Differentiator

Problem solved

Functional benefit

Brands

• Wimee Kids' Savings Club: A youth savings program in partnership with Wimee the robot, designed to teach children 12 and under about money and savings habits through fun engagement and rewards.
• Brewster

Products and services

• Serious Interest Checking High-yield consumer checking account paying up to 4.00% APY when monthly transaction requirements are met.
• Savings Accounts Personal savings accounts including Liquid Savings with competitive rates for everyday savers.
• Money Market Accounts Tiered, interest-bearing money market accounts for personal and business members with rates based on balance.
• CD Accounts Certificates of Deposit with multiple term options for personal and business members seeking guaranteed returns.
• IRA Accounts Traditional and Roth Individual Retirement Accounts for long-term retirement savings.
• Youth Accounts Banking products for minors, including the Wimee Kids' Savings Club for children 12 and under featuring prizes and educational content.
• Mortgages Home purchase and refinance loans including conventional, FHA, and construction loans, with dedicated mortgage loan officers and online application.
• Home Equity Line of Credit Revolving credit line secured by home equity, currently featuring a 4.99% APR introductory rate for 12 months (then as low as 6.75% APR).
• Auto Loans Vehicle financing for new and used automobiles with competitive rates, available for personal and business members.
• Recreational Loans Financing for recreational vehicles including boats, RVs, and other leisure equipment.
• Personal Loans Unsecured loans for debt consolidation, home improvements, major purchases, and other personal needs.
• Credit Cards Consumer and business credit cards with fraud alerts, mobile card management, and competitive rates.
• Business Checking Commercial checking accounts with online banking and payroll integration features for business operations.
• Business Lending Comprehensive business financing including SBA loans, commercial real estate mortgages, equipment and vehicle loans, and business lines of credit.
• Merchant Services Payment processing solutions for business members, including point-of-sale systems and transaction processing.
• Consumers @Work Employer-partnership program that brings credit union banking services directly to employees at the workplace.
• Investment Services Financial advisory and investment services offered in partnership with LPL Financial, providing wealth management and retirement planning for credit union members.
• Consumers Coach / Financial Playbook Personal financial coaching program with educational resources, calculators, and guidance organized by life stage and topic.
• Wimee Kids' Savings Club Educational youth savings program for children 12 and under featuring the Wimee robot mascot, prizes for deposits, and financial literacy content.
• Online Banking Digital banking platform providing 24/7 access to account management, transfers, bill pay, and loan payments via web and mobile.
• Consumers Mobile App Native mobile banking app on Apple App Store and Google Play enabling account management, mobile check deposit, transfers, and payments on-the-go.

Quantifiable outcome

• Home Equity Line of Credit promotional rate of 4.99% APR for 12 months (then as low as 6.75% APR)
• +1 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Wimee (Wimee TV)coreStrategic or Co-development PartnerConsumers has partnered with Wimee, a robot character, to create the Wimee Kids' Savings Club - a fun and engaging financial education program for children 12 and under. The partnership includes educational videos, books, plush toys, and a savings club card to teach kids about money through stories and simple illustrations.
• LPL FinancialcoreStrategic or Co-development PartnerSecurities and advisory services are offered through LPL Financial, a registered investment advisor and broker-dealer. Consumers Investment Services provides investment referrals to LPL Financial representatives who serve credit union members from various branch locations.
• Nulty InsuranceminorGTM or Marketing PartnerConsumers members are eligible for group discounts on insurance products through Nulty Insurance, a partner offering homeowners and other insurance coverage.
• MastercardcoreTechnology or IntegrationPartnership with Mastercard to provide free ID Theft Protection program for members, helping monitor card activity for potential fraud. Also provides credit and debit card services.
• Lumin DigitalcoreTechnology or IntegrationConsumers Credit Union is one of five client credit unions serving on Lumin Digital's advisory committee following the company's $170M growth equity round. Lumin Digital provides digital banking innovation services.
• Western Michigan UniversityminorStrategic or Co-development PartnerOn-campus TellerPlus+ location at WMU campus serving university community. Partnership includes campus-area banking services.
• Grand Valley State UniversityminorStrategic or Co-development PartnerOn-campus TellerPlus+ location at GVSU L. William Seidman Center serving university community with extended hours.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Flagstar Bank: Michigan-headquartered bank with strong mortgage origination capability and retail/commercial banking across the state. Closely comparable to Consumers in core deposit and mortgage lending products, though operating under a different ownership and capital structure.
• Michigan State University Federal Credit Union (MSUFCU): One of the largest credit unions in Michigan, offering consumer and business banking, lending, and digital channels. Overlaps with Consumers on member geography, product breadth, and community-credit-union positioning.
• Lake Michigan Credit Union (LMCU): Large Michigan-based credit union offering a comparable full suite of consumer and business banking products across multiple branches in West Michigan. Directly competes with Consumers in the same geographic footprint with a similar member-owned value proposition.
• SchoolsFirst Federal Credit Union: Large California-based federal credit union offering full-service consumer and business banking. Comparable in cooperative model, deposit and lending product suite, and emphasis on member education and community involvement.
• GreenState Credit Union: Large multi-state credit union offering consumer and business banking, mortgages, and investment services. Comparable in cooperative structure, product breadth, and focus on member-owned value, though operating across Iowa and the Midwest rather than Michigan.
• Boeing Employees Credit Union (BECU): One of the largest U.S. credit unions, providing a comparable mix of consumer deposits, mortgages, business banking, and digital channels. Matches Consumers on cooperative ownership and full-service member banking, with significantly broader field of membership.

Broad incumbents

• Ally Financial: Online-first bank with high-yield savings, CDs, and consumer lending. Competes with Consumers primarily for digital deposit customers across the same U.S. footprint, especially in high-yield checking and CD products.
• Huntington Bancshares: Large regional bank with deep Michigan retail and commercial presence, offering deposits, mortgages, business banking, and digital channels. Competes for the same consumer and small-business relationships but as a for-profit, publicly traded institution with broader geography.
• Fifth Third Bank: National regional bank with significant Michigan branch density, providing deposit, lending, mortgage, and wealth products. Overlaps with Consumers in consumer and SMB banking but operates a much larger multi-state footprint.
• PNC Bank: Major national bank with significant Michigan retail presence, offering deposits, mortgages, credit cards, and business banking. Competes for the same SMB and consumer customers as Consumers but with substantially broader geography and capital base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/ConsumersCU
• Facebookfacebook.com/ConsumersCU
• LinkedInlinkedin.com/company/consumers-credit-union
• Instagraminstagram.com/consumerscu
• Pinterestpinterest.com/consumerscu
• TikToktiktok.com/@consumerscu
• Xx.com/consumerscu

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Consumers Credit Union