SIU Credit Union

What SIU Credit Union does

SIU Credit Union is a federally chartered, not-for-profit cooperative financial institution founded in 1938 (originally as Jackson County Teachers Credit Union) and headquartered in Carbondale, Illinois. It operates five physical branches across Southern Illinois — Carbondale (headquarters and Carbondale East), Marion, Harrisburg, and Energy — and serves members across a 24-county field of membership that includes anyone who lives or works in the region, Southern Illinois University Carbondale affiliates, and select employer groups. The institution is governed by an unpaid volunteer board under a one-member, one-vote cooperative model and is federally insured by the NCUA up to $250,000.

The product platform spans core retail banking — multiple checking tiers (Basic, Jr. Executive, Premier NOW, Fresh Start, Rebound), savings products including a Common Cents round-up program, money market, IRAs, and term share certificates — alongside a full consumer and small-business lending suite covering auto (including tractor and recreational vehicles), mortgage, HELOC, construction, land, mobile home, and personal loans (Lifestyle, Credit Builder, Student, Fast Cash, Holiday). Card services include Visa credit, debit, prepaid, HSA, and a SIUCU Rewards points program. Digital banking runs on a mobile and web platform supporting mobile deposit, Zelle P2P, bill pay, online account opening, and is integrated with Intuit Direct Connect for QuickBooks/Quicken users; MemberPass provides biometric identity verification across channels. Distribution is extended beyond owned branches through the CO-OP Shared Branch network (5,000+ locations), the Allpoint ATM network (60,000+ surcharge-free ATMs), and a 50+ dealer auto-finance referral network across Illinois, Missouri, Indiana, and Kentucky.

SIUCU earns revenue primarily through net interest income on its diversified loan portfolio, supplemented by interchange and card fees, overdraft (Courtesy Pay at $25/item) and service charges, safe deposit box rental, wire transfer fees, and a nominal $5 membership share. As a cooperative, surplus is returned to members via lower loan rates, higher savings dividends, and reduced fees. Go-to-market is community-based and direct-to-consumer, supported by the CU@Work employer channel, first-time homebuyer workshops, financial education at 193 schools (reaching 47,000+ students in 2024), and community programs such as Jeans Because We Care ($12,600 raised in 2025) and ten annual $1,000 scholarships.

Name

SIU Credit Union

Legal name

SIU Credit Union

Website

https://siucu.org

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

51–100 employees

Short description

SIU Credit Union is a federally chartered, not-for-profit cooperative bank founded in 1938, serving Southern Illinois residents, SIU affiliates, and select employer groups across 24 counties via five branches and a full digital banking platform offering consumer and small-business lending, deposit products, and Visa card services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130), Depository Credit Intermediation (5221)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industries

Student/University Credit Unions (FSABAEAJ), Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Retail banking services
• Consumer lending
• Cooperative banking
• Digital banking
• Community banking

Headquarters

HQ city

Carbondale

HQ country

United States

HQ region

North America

Offices5 records

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 from Lending: Primary revenue generated from interest on various loan products including auto loans, mortgages, personal loans, home equity loans, and credit cards. As a not-for-profit cooperative, earnings are returned to members through better rates and lower fees.
2. Fee-based Services: Various service charges including overdraft fees, ATM fees for out-of-network usage, wire transfer fees, safe deposit box rentals, and account service charges.
3. Membership Fees: Nominal membership share requirement of $5 to open a savings account that secures membership in the credit union.
4. Card Services: Revenue from credit card interchange fees, prepaid card fees, and HSA card services.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

SIU Credit Union is a not-for-profit financial cooperative that provides retail banking products and consumer lending services to members across 24 Southern Illinois counties. Its core offerings include deposit accounts (checking, savings, money market, CDs, IRAs), consumer loans (auto, mortgage, HELOC, personal, recreational, tractor, construction, land), Visa credit/debit/prepaid/HSA cards, and digital banking tools including mobile deposit, Zelle, and biometric MemberPass verification.

Product overview

SIU Credit Union is a not-for-profit financial cooperative offering a comprehensive suite of banking products and services primarily serving Southern Illinois residents. The credit union operates as a single-platform financial institution with integrated products spanning deposit accounts (checking, savings, certificates, IRAs, money market), lending (vehicle loans, mortgages, home equity, personal loans, credit cards), and digital banking services. Core products include Digital Banking with mobile deposit and Zelle integration, MemberPass biometric authentication, SIUCU Rewards points program, and CU@Work employer benefits. The institution also provides traditional branch services, shared branch network access, insurance products through TruStage and CUNA Mutual, and specialized lending programs including holiday loans and balance transfer promotions.

Differentiator

Problem solved

Functional benefit

Brands

• CU @ Work: An employee benefit program offering discounted consumer loan rates and term share certificate rates to employees of select employer groups.
• SIUCU Rewards
• Loyalty Bundle
• MemberPass

Products and services

• Checking Accounts

Quantifiable outcome

• Over 47,000 local students received free financial education in 2024
• +2 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• CO-OP Credit UnionscoreChannel Partner/ Reseller/ DistributorCO-OP Shared Branch network enables SIUCU members to access 5,000+ shared branch locations and 2,000+ self-service ATMs nationwide. Members can conduct transactions at any credit union displaying the CO-OP Shared Branch logo, including deposits, transfers, and account inquiries.
• Allpoint NetworkcoreChannel Partner/ Reseller/ DistributorSurcharge-free ATM network providing access to over 60,000 ATMs nationwide for SIUCU members at no additional cost.
• CUNA Mutual GroupcoreTechnology or IntegrationInsurance partner providing payment protection products including life, disability, involuntary unemployment, and accidental death coverage. Claims processing through online portal at myclaimportal.cunamutual.com.
• MemberPasscoreTechnology or IntegrationDigital identity verification technology using biometrics for secure account authentication, replacing traditional security questions.
• Alliance Wealth ManagementminorStrategic or Co-development PartnerWealth management services offered through alliancepartneralliancewealthmgmt.com for members seeking investment and financial planning services.
• VisacoreTechnology or IntegrationCredit and debit card network providing SIUCU-branded Visa cards including credit cards, debit cards, prepaid cards, HSA cards, and gift cards.
• 50+ Auto DealershipscoreChannel Partner/ Reseller/ DistributorPreferred dealer network spanning Southern Illinois, Missouri, Indiana, and Kentucky. Dealers include Coad of Anna, Weeks Chevrolet Buick GMC, Vic Koenig Chevrolet, Auffenberg of Carbondale, Marion Chevrolet Buick GMC, and many others where SIUCU financing is available at point of sale.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Scott Credit Union: Large community credit union headquartered in Collinsville, Illinois, serving the Metro East St. Louis region with a similar cooperative, community-based model and overlapping Southern Illinois geography.
• SchoolsFirst Federal Credit Union: Large university-affiliated credit union serving educators and school employees with a not-for-profit cooperative model, mirroring SIU CU's educator roots and SEG-style employer membership approach.
• Consumers Cooperative Credit Union: Mid-size community-based credit union operating under a not-for-profit cooperative structure with similar checking, lending, and digital banking products; useful comparable for community CU economics and member growth patterns.

Regional players

• Banterra Bank: Community bank headquartered in Marion, Illinois, with branches across Southern Illinois; competes directly with SIU CU for consumer deposits, mortgages, and auto loans in the same geographic footprint.
• Legence Bank: Community bank serving Southern Illinois with consumer and business banking products; competes with SIU CU for retail deposits and lending in overlapping counties.
• First Mid-Illinois Bank & Trust: Regional Illinois-based bank offering consumer banking, mortgages, and wealth services; competes with SIU CU across central and southern Illinois consumer and small business segments.

Broad incumbents

• Alliant Credit Union: Large national digital-first credit union serving a broad membership base with competitive deposit and loan products; represents the type of larger, tech-enabled CU that competes for members willing to bank outside their local community.
• Connexus Credit Union: National credit union offering full-service digital banking, lending, and deposit products to a wide field of membership; benchmarks the digital and product-breadth capabilities SIU CU must match to retain younger members.

Others

• CUNA Mutual Group: Insurance and fintech provider to the credit union industry and existing SIU CU partner; relevant adjacent ecosystem participant for product expansion and risk management benchmarks.
• Visa: Card network partner issuing SIU CU-branded credit, debit, prepaid, and HSA cards; adjacent infrastructure provider whose network economics and product roadmap shape SIU CU's card revenue and capabilities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/siucreditunion
• Facebookfacebook.com/siucreditunion
• YouTubeyoutube.com/channel/UCxq5qH1l1ZqYq5m7l1ZqYqA

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 SIU Credit Union