Sun Federal Credit Union

What Sun Federal Credit Union does

Sun Federal Credit Union is a federally chartered, member-owned cooperative financial institution founded in 1950 as Tol-Sun Federal Credit Union and headquartered in Maumee, Ohio. The institution provides full-service consumer and small/medium business banking across Ohio (Lucas and Wood Counties) and Pennsylvania (Philadelphia, Montgomery, Delaware, and Berks Counties), with members in 35+ states and total assets of $650 million as of 2021. Core products include Kasasa-branded reward checking accounts (up to 4.00% APY), share certificates (3-84 month terms, promotional 4.00% APY 11-month), mortgages, home equity loans and HELOCs, auto loans, personal loans, student loans, and a Visa credit card suite (Luxury, Cash Back, Rate Advantage, Secured), plus specialty products such as HSAs, IRAs, Ohio Homebuyer Plus savings, and the Round 'n Save round-up program.

The platform is delivered through a combination of physical branches (Maumee, Oregon, Perrysburg, Radnor, planned Downtown Toledo), an online and mobile banking application (iOS/Android), the Sun Card$afe card-controls feature, and the Co-op Shared Branch network for nationwide access. Technology integrations include Plaid for instant account verification, Visa for card issuing, and digital wallet support (Apple Pay, Google Pay). Membership eligibility is structured around employer sponsor groups (200+, including Mercy Health and Sunoco), geographic community residence in the designated underserved counties, and American Consumer Council membership.

Revenue is generated through net interest income on the loan portfolio (consumer and business lending), deposit-account fees, share certificate funding spreads, Visa credit-card interchange and interest, and fee income from insurance/ancillary products (SunGuard, GAP, MRC). Brian Hughes serves as President and CEO, leading 101-250 employees. As a not-for-profit cooperative, Sun Federal returns earnings to members via lower loan rates, higher deposit yields, and reduced fees rather than distributing profits to external shareholders, and has historically grown through a steady cadence of credit-union mergers (most recently Mercy Health Partners and Woodco in 2020).

Name

Sun Federal Credit Union

Legal name

Sun Federal Credit Union

Website

https://sunfederalcu.org

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Consumer banking services
• Deposit and loan products
• Mortgage lending
• Business banking
• Credit union membership

Headquarters

HQ city

Maumee

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Sun Federal generates revenue primarily through interest earned on consumer loans (auto, personal, mortgages, home equity, credit cards) and business loans at competitive rates
2. Deposit Account Fees: Various fee income from deposit accounts including overdraft fees, ATM fees, and service charges
3. Share Certificate Products: Certificate accounts offering competitive APY rates, with terms ranging from 3 to 84 months
4. Credit Card Services: Multiple credit card products (Luxury, Cash Back, Rate Advantage) generating interchange income and interest charges
5. Insurance and Protection Products: SunGuard payment protection, Guaranteed Asset Protection (GAP), and Mechanical Repair Coverage (MRC) offered on loans

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Sun Federal Credit Union is a not-for-profit, member-owned cooperative providing full-service consumer and business banking. It offers deposit products (checking, savings, money market, share certificates, IRAs, HSAs), lending products (mortgages, home equity, auto, personal, student loans, business loans), Visa credit cards, and digital banking supported by physical branches in Ohio and Pennsylvania and the Co-op Shared Branch network.

Product overview

Sun Federal Credit Union offers a comprehensive, full-service banking platform serving consumers and businesses across Ohio and Pennsylvania. The product portfolio centers on traditional deposit and lending products including multiple checking account variants (Kasasa family with cash back and reward features), savings accounts with specialized sub-products (Holiday Club, Vacation Savings, RISE Youth), share certificates with competitive APYs, money market accounts, and health savings/retirement accounts. Credit products encompass mortgages with construction-to-permanent financing, home equity loans and lines of credit, auto loans with promotional rates, personal loans, student loans, and a full suite of Visa credit cards (Luxury, Cash Back, Rate Advantage, Secured). Business banking includes checking, savings, credit cards, and loans with digital banking support. The digital experience is anchored by an online and mobile banking platform with integrated card management (Sun Card$afe), credit score monitoring, and early direct deposit access. Supplementary services include insurance products, Skip-A-Pay flexibility, and a member referral rewards program. The company also operates community partnerships including student-run credit unions and Co-op Shared Branch network access.

Differentiator

Problem solved

Functional benefit

Brands

• Kasasa: Suite of checking and savings accounts offering cash back, high-yield dividends, and rewards programs including Kasasa Cash, Kasasa Cash Back, and Kasasa Eats
• Sun Card$afe
• RISE
• Bright Auto Loans
• Round 'n Save
• Ohio Homebuyer Plus
• Sun Federal Mobile App

Products and services

• Kasasa Cash Checking
• Kasasa Cash Back Checking
• Kasasa Eats Checking
• Kasasa Play Checking
• Savings Accounts
• Special Savings
• Holiday Club
• Vacation Savings
• Share Certificates
• Empower Money Market
• Amplify Money Market
• Health Savings Account (HSA)
• Individual Retirement Account (IRA)
• Round 'n Save
• Ohio Homebuyer Plus
• RISE Youth Accounts
• Visa Luxury Credit Card
• Visa Cash Back Credit Card
• Visa Rate Advantage Credit Card
• Visa Rate Advantage Secured Credit Card
• Mortgages
• Home Equity Loans
• Home Equity Line of Credit (HELOC)
• Bright Auto Loans
• Personal Loans
• Student Loans
• Business Checking
• Business Savings
• Business Credit Card
• Business Loans
• Digital Business Banking
• Digital Banking (Online & Mobile)

Quantifiable outcome

• Total assets grew from $100 million (1995) to $650 million (2021)
• +1 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Clay High SchoolminorStrategic or Co-development Partner · 1 January 2023Student-run credit union program at Clay High School in Oregon, Ohio, providing financial education and early exposure to banking services.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerGreenPath provides financial education webinars and calculators as a partnership benefit for Sun Federal members. Members are redirected to GreenPath's platform for financial wellness resources, educational content, and counseling services.
• Co-op Shared BranchcoreChannel Partner/ Reseller/ DistributorCo-op Shared Branch network allows Sun Federal members to conduct transactions at thousands of credit union locations nationwide, extending service accessibility beyond physical branches.
• CUNA Mutual Group's MEMBERCONNECTminorGTM or Marketing PartnerJoint marketing partner for insurance and protection products offered through Sun Federal's lending and deposit services.
• VisacoreTechnology or IntegrationVisa provides credit card processing infrastructure for Sun Federal's Luxury, Cash Back, and Rate Advantage credit card products, including debit card services.
• Mercy HealthcoreStrategic or Co-development PartnerCollaboration with Mercy Health to open a new downtown Toledo branch in the Cherry St. corridor, expanding financial services access in the healthcare community.
• American Consumer CouncilminorChannel Partner/ Reseller/ DistributorComplimentary membership option for individuals not qualifying through employer sponsorship or geographic residence, enabling broader credit union access.

Scale indicators9 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Directions Credit Union: Toledo, Ohio-based community credit union operating in the same northwest Ohio market as Sun Federal with comparable product breadth (checking, loans, mortgages) and similar community/employer membership model.
• Kemba Financial Credit Union: Ohio-headquartered community credit union (Cincinnati/Dayton) with a comparable member-owned structure and full-service consumer and business banking; operates at similar scale and competes for similar employer-sponsor relationships.
• FirstEnergy Family Credit Union: Pennsylvania-based credit union serving employees of sponsor companies and qualifying communities — overlapping Sun Federal's Pennsylvania membership geography (Philadelphia/Montgomery/Delaware/Berks counties) and competing for similar employer-group members.

Broad incumbents

• Wright-Patt Credit Union: One of the largest Ohio-headquartered credit unions, offering the same full-service consumer/business banking suite plus a broader branch and digital footprint; serves as a benchmark for what scaled Ohio credit union competition looks like.
• Premier Bank: Ohio-headquartered community bank with consumer and business banking offerings overlapping Sun Federal's Ohio footprint; useful for benchmarking competitive positioning between community banking and credit unions in shared markets.
• Civista Bank: Ohio-based community bank serving consumer and small business segments across similar Ohio geographies; competes directly with Sun Federal for deposit and small-business relationships in northwest Ohio.

Regional players

• Connexus Credit Union: Wisconsin-based member-owned credit union with a similar community cooperative model, comparable full-service product set, and nationwide membership reach — useful comparable for evaluating digital expansion strategy.
• Lake Michigan Credit Union: Michigan-based community credit union with a comparable mix of consumer lending, mortgages, and member-first philosophy; serves as a peer for assessing regional credit union operating performance and growth levers.
• SchoolsFirst Federal Credit Union: California-based federal credit union with a similar employment/sponsor-group charter origin, comparable asset scale, and full-service product portfolio; relevant comparable for member-acquisition and retention tactics.

Others

• Co-op Solutions: Operating partner of the Co-op Shared Branch network that Sun Federal relies on for nationwide service distribution; an ecosystem enabler rather than a direct competitor, but strategically important to Sun Federal's reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SunFCU
• Facebookfacebook.com/SunFederalCreditUnion

Compliance7 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&A

Investments

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

Frequently asked questions about Sun Federal Credit Union