Primary Financial

Brokered Deposit and Share Certificate Servicesepfc.com

Primary Financial Company LLC is a Credit Union Service Organization (CUSO) that operates the SimpliCD platform to intermediate brokered Certificates of Deposit and credit union share certificates between issuing banks/credit unions and individual investors across the United States.

Company typePrivate
Founded1996
HeadquartersDublin, United States
Headcount1–10
GTM typeB2B and B2C
OfferingServices

What Primary Financial does

Primary Financial Company LLC is a privately-held Credit Union Service Organization (CUSO) founded in 1996 and headquartered in Dublin, Ohio. The company operates the SimpliCD platform, a web-based trading and transaction management system that intermediates brokered Certificates of Deposit (CDs) and credit union share certificates between issuing financial institutions and investors. Its customer base is two-sided: community banks and credit unions use Primary Financial to issue CDs and share certificates and access brokered deposit funding, while individual investors use SimpliCD to purchase those instruments through a simplified '1 Phone Call – 1 Transaction' process.

The company earns revenue through transaction fees for facilitating CD and share certificate issuances and investments, though no specific fee schedules are publicly disclosed. Distribution is hybrid: a self-serve web portal at simplicd.epfc.com for authenticated transaction management, supplemented by a phone-based direct service channel (1-800-639-0339) that emphasizes human-assisted simplicity. Primary Financial markets through its corporate website, YouTube educational content, industry conference participation, and a corporate partner locator network. The company maintains registered trademarks for both 'Primary Financial' and 'SimpliCD,' and in August 2024 announced a partnership with Inclusiv to extend services to community development financial institutions. Leadership is stable under President/CEO Chris Lewis, who has held the role since January 2019. The company employs between 1 and 10 people and serves only the United States market.

Primary Financial firmographics

Firmographics

Name: Primary Financial
Legal name: Primary Financial Company LLC
Website: https://epfc.com
Company type: Private
Founded year: 1996
Operating status: Operating
Headcount range: 1–10 employees
Short description: Primary Financial Company LLC is a Credit Union Service Organization (CUSO) that operates the SimpliCD platform to intermediate brokered Certificates of Deposit and credit union share certificates between issuing banks/credit unions and individual investors across the United States.
Ownership category
akta.pro rank

Primary Financial industry classification

Industry

Product category: Brokered Deposit and Share Certificate Services
NAICS: Funds, Trusts, and Other Financial Vehicles (525)
SIC: Security Brokers, Dealers & Flotation Companies (6211), Finance Services (6199)
akta.pro primary industry: Personal Loan & Unsecured Credit Intermediation (FSAEAEAM)

Keywords

Brokered deposits
Certificate of deposit
Credit union services
Deposit facilitation
Share certificates

Where Primary Financial is headquartered

Location

Headquarters

HQ city: Dublin
HQ country: United States
HQ region: North America

Offices1 record

Markets served

Primary Financial business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

Transaction Facilitation Services: Primary Financial facilitates brokered deposit transactions between issuing banks/credit unions and investors, earning fees for transaction processing and intermediation services. As a CUSO, they enable financial institutions to access broader investor bases through their SimpliCD platform.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Primary Financial product offering

Product offering

Core offering

Primary Financial operates as a Credit Union Service Organization (CUSO) that facilitates brokered Certificate of Deposit (CD) and share certificate transactions between issuing banks/credit unions and investors via its SimpliCD platform. The company enables banks to issue CDs and accept brokered deposits, enables credit unions to issue and accept share certificates, and provides individual investors a simplified purchase process through a web portal and direct phone channel.

Product overview

Primary Financial operates as a Credit Union Service Organization (CUSO) offering SimpliCD as its core platform for deposit issuance and investment. The portfolio consists of SimpliCD as the unified platform, supplemented by two service modules: Bank Issuance Services for banks to issue CDs and accept brokered deposits, and Credit Union Issuance Services for credit unions to issue and accept share certificates. The platform is accessed via a login portal for authenticated users, with participating corporate partners accessible through a locator feature.

Differentiator

Problem solved

Functional benefit

Brands

SimpliCD: A platform for issuing CDs (Certificates of Deposit) and share certificates, facilitating simplified deposit transactions through a single phone call and transaction process.

Products and services

SimpliCD Platform Web-based platform that facilitates the issuance and purchase of Certificates of Deposit (CDs) and share certificates between issuing banks/credit unions and investors via a single phone call and transaction workflow.
Bank Issuance Services Service enabling U.S. banks to issue Certificates of Deposit and accept brokered deposits through the SimpliCD platform and Primary Financial's CUSO infrastructure.
Credit Union Issuance Services Service enabling U.S. credit unions to issue and accept share certificates through the SimpliCD platform, facilitating deposit acceptance from Primary Financial Company LLC within the CUSO framework.

Companies that use Primary Financial

Customer profile

Segments3 records

Ideal customer profiles3 records

Primary Financial technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Primary Financial partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

InclusivcoreStrategic or Co-development Partner · 6 August 2024Primary Financial announced a partnership with Inclusiv, a organization focused on supporting credit unions and community development financial institutions. The partnership likely enables Primary Financial to expand their reach within the credit union ecosystem and provide services to minority-owned and community development credit unions.

Recent moves1 record

Expansion highlights4 records

Primary Financial competitors and assessment

Company assessment

Direct peers

Members Trust Company: Members Trust Company is a CUSO-affiliated trust institution providing custodial, deposit, and share certificate services to credit unions across the U.S. Both entities target the same niche: regulated intermediaries helping credit unions issue and service deposit products.
StoneCastle Cash Management: StoneCastle operates the StoneCastle Insured Cash Sweep and related brokered-deposit/funding programs for community banks, directly competing with SimpliCD for issuer relationships and investor placements. Both target community-bank funding needs through pooled, insured-deposit placement — a near-identical value proposition to Primary Financial's bank-issuance service.
IntraFi Network: IntraFi (formerly Promontory Interfinancial Network) operates CDARS and the Insured Cash Sweep (ICS) network, which place retail and brokered deposits across thousands of U.S. banks — the closest scaled analog to Primary Financial's SimpliCD placement platform. Both companies are fundamentally in the same business: brokering CDs and share certificates between issuing depository institutions and investors, with regulatory/compliance as a critical feature.

Broad incumbents

Alloya Corporate Federal Credit Union: Alloya is a corporate credit union and CUSO provider offering deposit-placement, liquidity, and correspondent services to the credit union ecosystem — overlapping with Primary Financial's credit union issuance and share certificate services. Comparability: same customer base (credit unions), same regulatory category (CUSO-aligned), but broader service portfolio.
Corporate Central Credit Union: Corporate Central is a corporate credit union offering deposit services, share certificate programs, and correspondent services to member credit unions. Comparable to Primary Financial on credit-union share certificate issuance infrastructure and regulatory positioning as a CUSO-affiliated institution, though at meaningfully larger scale.
TruStage: TruStage is a CUSO affiliated with CUNA Mutual that delivers investment, deposit, and lending products to credit unions. Comparable to Primary Financial through the CUSO distribution channel and credit union member focus, though TruStage operates a much broader product portfolio.

Emerging players

Convergence Financial Services: A specialized CUSO providing share certificate and CD placement programs to credit unions and community banks. Directly comparable to Primary Financial's SimpliCD offering in target segment, regulatory category, and product focus, though smaller and newer in market presence.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

Primary Financial financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Primary Financial leadership team

Management profile

Number of profiles

Profiles1 record

Primary Financial funding detail

Funding detail

Funding overview

Funding rounds

Investors

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

Primary Financial M&A and investment

M&A and investment

M&A

Investments

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

Frequently asked questions about Primary Financial

What does Primary Financial do?

Is Primary Financial a public or private company?

Primary Financial is a private company. It is classified as corporate owned and is currently operating.

When was Primary Financial founded?

Primary Financial was founded in 1996. It employs 1 to 10 people.

Where is Primary Financial based?

Primary Financial is headquartered in Dublin, United States, in the North America region.

How does Primary Financial make money?

One revenue line is on record: transaction Facilitation Services.

Who are Primary Financial's main competitors?

Direct peers on record are Members Trust Company, StoneCastle Cash Management and IntraFi Network. Broad incumbents are Alloya Corporate Federal Credit Union, Corporate Central Credit Union and TruStage. Convergence Financial Services is listed as an emerging player.

Does Primary Financial have an API?

No public API is recorded for Primary Financial.

What industry is Primary Financial in?

Primary Financial's product category is Brokered Deposit and Share Certificate Services. Its primary akta.pro industry code is FSAEAEAM, Personal Loan & Unsecured Credit Intermediation. Its NAICS code is 525 and its SIC code is 6211.