LAFCU

What LAFCU does

LAFCU (Lansing Air Force Federal Credit Union) is a not-for-profit, member-owned financial cooperative chartered in 1936 and headquartered in Lansing, Michigan, serving more than 75,000 members and holding over $1 billion in assets. The credit union is open to anyone who lives, works, worships, attends school, or owns a business in Michigan, and delivers a full-service retail and small-business banking platform: deposit products (e-Checking, Checking, High-Yield Checking at 5.00% APY on balances up to $10,000, Savings, HSA, Money Market, CDs, IRAs, Advantage 55 senior accounts), consumer and commercial lending (mortgages including a 10/6 ARM and physician mortgage, home equity loans and HELOCs, auto, RV, personal, business, and credit-builder loans, plus a Visa credit card suite), and digital services (online banking, mobile app with card controls and remote deposit, digital wallet support across Apple/Google/Samsung/Fitbit/Garmin Pay, audio banking with voice recognition, and Autobooks-integrated business invoicing).

Distribution is multi-channel: 10 physical branches across the Greater Lansing region (Lansing, DeWitt, Charlotte, Mason, Eaton Rapids, St. Johns, Owosso, Corunna) plus a new drive-up teller site under construction in Perry, MI, complemented by CO-OP network access to nearly 30,000 surcharge-free ATMs and 5,300+ shared branching locations nationwide. Membership channels are direct-to-consumer and community-led, with community financial education, youth programs (Laff-e & Friends, LAFCU My Way Teens, LAFCU My Way Young Adult), in-school branches at Perry Schools, and the StableCommunities Foundation serving as both acquisition funnels and retention mechanisms.

LAFCU's revenue model rests primarily on net interest income from its loan portfolio, supplemented by fee income (overdraft protection at $0.99, business checking maintenance fees, wire/ATM/safe deposit fees), investment income on member deposit reserves, and ancillary insurance and investment-services commissions via partners such as TruStage and LAFCU Investment Services. As a not-for-profit cooperative, surplus is returned to members through better rates and lower fees rather than distributed to shareholders.

Name

LAFCU

Legal name

LAFCU (Lansing Air Force Federal Credit Union)

Website

https://lafcu.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

51–100 employees

Short description

LAFCU is a not-for-profit Michigan credit union chartered in 1936, serving 75,000+ members across the state with over $1 billion in assets through 10 branches, a full digital banking platform, and CO-OP network ATM access.

Ownership category

akta.pro rank

Headquarters

HQ city

Lansing

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: LAFCU generates revenue primarily through interest charged on loans including mortgages, home equity loans, auto loans, personal loans, and credit cards. As a not-for-profit credit union, excess revenue is returned to members through better rates and lower fees.
2. Fee Income: Various fee-based services including overdraft protection fees ($0.99), account maintenance fees on certain checking accounts, ATM fees for non-network usage, wire transfer fees, and safe deposit box rental.
3. Investment Income: Income generated from investment of member deposits and reserves in securities and other investments permitted for credit unions.
4. Insurance and Investment Services: LAFCU offers insurance products (Accidental Death & Dismemberment, Life/Auto/Home through TruStage, Mechanical Repair Coverage) and investment services through LAFCU Investment Services partnership.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels8 records

Core offering

LAFCU is a not-for-profit financial cooperative (credit union) chartered in 1936 that provides deposit products (checking, savings, money market, CDs, IRAs, HSAs), consumer and business lending products (mortgages including a 10/6 ARM, home equity loans and HELOCs, auto loans, recreational vehicle loans, personal loans, credit cards, business loans), and digital banking services (online banking, mobile app, digital wallets, audio banking, bill pay) to over 75,000 members across Michigan. The institution holds over $1 billion in assets and operates 10 branch locations in the Greater Lansing region, with access to nearly 30,000 surcharge-free ATMs nationwide through the CO-OP network.

Product overview

LAFCU is a not-for-profit financial cooperative chartered in 1936, serving more than 75,000 members across Michigan with over $1 billion in assets. It operates as a unified financial services platform offering a broad portfolio of deposit products (checking, savings, CDs, IRAs, HSAs, money market accounts), lending products (mortgages including a 10/6 ARM, home equity loans and HELOCs, auto loans, recreational vehicle loans, personal loans, Express Cash, business loans, and credit cards), and digital banking services (online banking, mobile banking, digital wallets, bill pay, audio banking). The cooperative also provides supplementary programs including youth financial education (LAFCU My Way Teens, LAFCU My Way Young Adult, Laff-e & Friends Kids Club), insurance products, investment services, the Pathway to Financial Transformation education program, the Write to Educate scholarship, Michigan Saves energy loans, and hardship assistance loans. Members access services through branch locations, drive-up tellers, ATMs (including CO-OP network with ~30,000 surcharge-free ATMs), shared branching, online banking, mobile banking, and digital wallets (Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay). Business members additionally access Autobooks invoicing built into business checking. The product portfolio is unified under the LAFCU membership, with all products and programs connected through shared online and mobile banking platforms.

Differentiator

Problem solved

Functional benefit

Brands

• Laff-e & Friends Kids Club: Youth financial education program for children
• LAFCU My Way Teens
• LAFCU My Way Young Adult
• Pathway to Financial Transformation
• Write to Educate
• LAFCU Serves

Products and services

• Personal Checking Accounts
• Savings, Money Market, CDs, IRA and HSA Accounts
• Mortgages
• Home Equity Loan and HELOC
• Auto Loans and Auto Loan Refinance
• Recreational Vehicle Loans
• Personal Loans
• Credit Cards
• Express Cash
• Business Checking Accounts
• Business Loans and Business Credit Card
• Online and Mobile Banking
• Digital Wallet Services
• Audio Banking
• Overdraft Protection
• Michigan Saves Home Energy Loan
• LAFCU Investment Services
• Insurance Products
• Government Shutdown Assistance Loan

Quantifiable outcome

• Members save money through lower loan rates compared to traditional banks
• +3 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Michigan SavescoreStrategic or Co-development PartnerLAFCU partners with Michigan Saves to offer affordable home energy improvement loans at 6.49% APR. The Michigan Saves Home Energy Loan program provides unsecured personal loans ranging from $1,000 to $75,000 for energy efficiency improvements. This partnership enables LAFCU to support members in making home improvements while promoting energy efficiency.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerLAFCU provides free access to GreenPath Financial Wellness services as a membership benefit. GreenPath offers money management, financial education, credit counseling, debt management, and housing counseling services to help members achieve financial stability.
• CO-OP NetworkcoreTechnology or IntegrationLAFCU participates in the CO-OP credit union network providing members access to nearly 30,000 surcharge-free ATMs nationwide and over 5,000 shared branching locations. Members can text their location to 692667 (MYCOOP) to find nearby ATMs.
• Member First MortgagecoreStrategic or Co-development PartnerLAFCU partners with Member First Mortgage for refinance services and mortgage lending. The partnership provides members with access to mortgage products including the LAFCU 10/6 ARM loan and other mortgage options through the Member First platform.
• Quality DairyminorGTM or Marketing PartnerLAFCU partners with Quality Dairy for Paczki Palooza annual charity event and has ATM locations at Quality Dairy stores throughout the Lansing area. Third annual Paczki Palooza event raised funds for local charities.
• Lansing LugnutsminorGTM or Marketing PartnerLAFCU has been a proud sponsor of the Lansing Lugnuts minor league baseball team since their 1996 inaugural season. Sponsorship includes post-game LAFCU Fireworks at Jackson Field, with member benefits including premium seating.
• TruStage InsuranceminorChannel Partner/ Reseller/ DistributorLAFCU offers TruStage insurance products including life, auto, and home insurance through this partnership, providing members with access to insurance coverage options.
• StableCommunities FoundationcoreStrategic or Co-development PartnerLAFCU launched the StableCommunities Foundation to spark resiliency and equity in Greater Lansing. This foundation initiative focuses on community development and financial stability programs.
• Grassroots Giving LansingminorGTM or Marketing PartnerLAFCU partners with Grassroots Giving Lansing to host entrepreneurship mixers focused on lending essentials, supporting small business development in the community.
• Perry SchoolscoreStrategic or Co-development PartnerLAFCU operates an in-school credit union branch program at Perry Schools (Middle School and High School), providing students hands-on financial education through savings accounts, youth CDs, and debit cards.
• U.S. Small Business AdministrationminorGTM or Marketing PartnerLAFCU provides SBA resources and information to business members, including Economic Injury Disaster Loan information and links to SBA documentation and support.
• Michigan Economic Development CorporationminorGTM or Marketing PartnerLAFCU provides links to Michigan Economic Development Corporation resources for business members seeking state-level business support and development programs.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Consumers Cooperative Credit Union: Walled Lake, MI-based cooperative credit union serving consumers and small businesses across Michigan. Comparable community-credit-union model with similar deposit, mortgage, and business banking product suite.
• Community Choice Credit Union: Michigan-headquartered community credit union providing consumer and business banking with a comparable product set and member-cooperative model. Useful benchmark for deposit pricing and member-acquisition strategy.
• Lake Michigan Credit Union: Michigan-headquartered credit union and the state's largest by assets, serving a similar consumer and business member base across Michigan with a comparable product set (deposits, mortgages, business banking). LAFCU competes for many of the same Michigan households and is benchmarked against LMCU's digital, branch, and product economics.
• ELGA Credit Union: Burton, MI-based community credit union offering consumer and business banking across Michigan. Comparable in cooperative structure, deposit/loan product suite, and Michigan community focus.
• Frankenmuth Credit Union: Michigan-based community credit union serving members statewide with consumer deposits, mortgages, and small-business banking. Closely comparable in scale, product breadth, and community-led growth model.
• Genisys Credit Union: Auburn Hills, MI-based community credit union offering deposit, lending, and business banking services to Michigan residents. Comparable to LAFCU in operating model, community-charter structure, and member base.
• Michigan State University Federal Credit Union: East Lansing-based credit union serving the MSU community and broader Michigan, with community-charter membership overlapping LAFCU's eligibility criteria. Directly comparable in product breadth (deposits, mortgages, business banking) and Michigan focus.
• Dort Financial Credit Union: Grand Blanc, MI-based community credit union (formerly Dort Federal) serving Genesee County and broader Michigan with deposits, mortgages, and business banking. Comparable cooperative operating model and Michigan member base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/lafculansing
• YouTubeyoutube.com/channel/UC5VCUpVXZIe9qVB_-qEa8Mw
• Facebookfacebook.com/lafcu
• LinkedInlinkedin.com/company/lafcu
• Instagraminstagram.com/lafculansing

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 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 LAFCU