Service 1 Federal CU

Name

Service 1 Federal CU

Legal name

Service 1 Federal Credit Union

Website

https://service1fcu.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

11–50 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

• Retail banking services
• Consumer lending
• Credit union deposits
• Digital banking
• Personal loan products

Headquarters

HQ city

Muskegon

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, Others

Revenue model

1. Interest Income from Lending: Service 1 FCU generates primary revenue through interest earned on various loan products including auto loans, recreation/powersport loans, home mortgages, home equity loans and HELOCs, personal loans, and student loans. The credit union offers competitive rates on credit cards (ScoreCard Rewards) and secured credit building cards.
2. Deposit Account Fees and Services: Fees from services including wire transfers, overdraft protection transfers, stop payments, check copies, account research, dormant account fees, ATM withdrawals at non-network ATMs, coin machine usage, money orders, and paper statements.
3. Share Certificate and Savings Products: Revenue generated from share certificates (CDs) with various terms and competitive APY rates, money management accounts with tiered interest, and IRA certificates.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Service 1 Federal Credit Union is a not-for-profit financial cooperative offering deposit accounts (checking, savings, share certificates, IRAs), consumer loan products (auto, recreation/powersport, home mortgage, home equity, HELOC, personal, student, and credit cards), and digital banking services (online banking, mobile app, mobile check deposit, ITM video tellers). The institution serves more than 21,000 members across Michigan and Missouri through five branch locations, ITMs, the Co-Op ATM network, and shared branching, with NCUA federal deposit insurance.

Product overview

Service 1 Federal Credit Union is a full-service financial institution offering a comprehensive suite of banking products. The core product portfolio centers on deposit accounts (checking, savings, certificates) and lending (auto, mortgage, personal loans, credit cards), with digital banking services including online and mobile banking with remote check deposit, mobile wallet, and card controls. The institution's distinctive offerings include branded rewards checking through Kasasa (Cash, Cash Back, Saver), youth banking programs (Ranger Club for kids, Navigator Club for teens), and community-focused products like Christmas and Vacation Club accounts. The credit union serves members across Michigan and Missouri through five branch locations, digital channels, ITM video tellers, and shared branching networks, backed by NCUA federal insurance and TruStage insurance partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• Kasasa: A rewards checking program brand offering Kasasa Cash and Kasasa Cash Back checking accounts with high-yield dividends and cash back rewards.
• Calvin J. Peterson Memorial Scholarship
• Ranger Club
• Navigator Club

Products and services

• Kasasa Cash Checking High-yield rewards checking account for individual members offering up to 4.25% APY on balances up to $15,000 and nationwide ATM fee refunds up to $25 per month when monthly qualifications (12 debit card purchases, e-statements, online banking login) are met.
• Kasasa Cash Back Checking Rewards checking account for individual members earning 4.00% cash back on signature-based debit card purchases up to $200 per month (maximum $8/month) plus up to $25 monthly ATM fee refunds when qualifications are met.
• Basic Checking Free simplified checking account for individual members with unlimited check writing, free Mastercard debit card, no monthly service charge, no minimum balance, and overdraft protection availability.
• Kasasa Saver Automatic savings account linked to a Kasasa rewards checking account, earning up to 0.50% APY and automatically transferring checking rewards into savings.
• Money Management Account Tiered high-yield savings account for individual members paying between 1.00% and 2.00% APY depending on balance level (minimum $2,000 balance for the published rates).
• Club Savings Accounts (Christmas and Vacation) Seasonal purpose-based savings accounts for individual members, including a Christmas Club (0.25% APY with automatic fund transfer in November) and a Vacation Club (0.05% APY) for holiday and vacation expenses.
• Share Certificates (CDs) Fixed-rate, fixed-term share certificates for individual members with terms from 6 to 60 months, a $500 minimum balance, and featured 6-month rate of 3.75% APY.
• Youth Certificates Special-rate share certificates for youth members with a $50 minimum balance, featuring 6-month rate of 4.00% APY and 12- and 24-month terms at 3.75% APY, plus a Club Benefit Earned payment.
• Retirement Savings (IRAs) Tax-advantaged Individual Retirement Accounts for individual members, including Traditional, Roth, and Coverdell Education Savings Account (ESA) options.
• Auto Loans Vehicle financing for individual members purchasing new or used automobiles with rates starting at 4.99% APR, subject to credit approval.
• Recreation and Powersport Loans Financing for individual members purchasing recreational vehicles including motorcycles, ATVs, RVs, boats, jet skis, and seasonal toys, with promotional motorcycle rates as low as 3.99% APR.
• Home Mortgage Loans Home purchase mortgage financing offered to individual members through a partnership with AmeriCU Mortgage Company, with dedicated loan officers in Michigan and Missouri.
• Home Equity Loans

Quantifiable outcome

• Members have saved more than $1.1 million so far in 2026 (January through May)
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration16 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• TruStage InsurancecoreGTM or Marketing PartnerTruStage offers exclusive insurance products including auto, home, life, health, and accidental death & dismemberment coverage to Service 1 FCU members with potential savings of up to $665 on auto insurance.
• Love My Credit Union RewardscoreGTM or Marketing PartnerExclusive member discount program providing savings on Trust & Will estate planning, Rental Kharma credit-building services, TruStage insurance, and Rx Optical/MyEyeDr eye care products.
• AmeriCU Mortgage CompanycoreStrategic or Co-development PartnerMortgage services offered through partnership with AmeriCU Mortgage Company, providing members access to home financing with dedicated loan officers in Michigan and Missouri.
• GreenPath Financial WellnessminorImplementation/ SI/ Consulting PartnerDebt management and financial wellness services provided through partnership with GreenPath Financial Wellness, offering expert assistance with financial challenges.
• AudioEyecoreTechnology or IntegrationThird-party web accessibility testing and monitoring service ensuring the Service 1 FCU website conforms to WCAG 2.2 Level AA standards for users with disabilities.
• Co-Op NetworkcoreTechnology or IntegrationSurcharge-free ATM network providing members access to over 20,000 fee-free ATM locations nationwide.
• KasasacoreTechnology or IntegrationKasasa provides branded rewards checking and savings products (Kasasa Cash, Kasasa Cash Back, Kasasa Saver) with industry-leading APY rates and ATM fee refunds.

Scale indicators8 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• DFCU Financial: Michigan-based credit union offering full-service banking including deposits, mortgages, auto loans, and digital banking. Operates in overlapping Michigan geographies and competes for similar consumer and SEG-eligible members.
• Honor Credit Union: Michigan-headquartered community credit union serving members across the state with deposit accounts, lending products, and digital banking. Directly comparable as a Michigan SEG and community-chartered credit union of similar scale.
• Genisys Credit Union: Michigan-based community credit union serving similar geographic areas to Service 1 FCU with comparable deposit, loan, and digital banking products. Operates as a direct competitor for Michigan SEG and community-eligible members.
• Consumers Cooperative Credit Union: Midwest community credit union with full-service consumer banking products including Kasasa rewards, auto loans, and digital banking. Directly comparable on cooperative structure, product set, and digital platform.
• Lake Michigan Credit Union: The largest credit union in Michigan with statewide membership, offering similar deposit, lending, and digital banking products to Service 1 FCU. Directly comparable on product set and target consumer base, though materially larger in scale.
• MSU Federal Credit Union: Michigan-headquartered credit union with a community charter across many Michigan counties. Comparable in product mix (deposits, lending, digital) and in serving a similar Michigan consumer base.

Broad incumbents

• Fifth Third Bank: Regional bank with Midwest branch network including Michigan locations. Offers similar consumer deposit and lending products as Service 1 FCU but as part of a much larger full-service banking franchise.
• Huntington National Bank: Large regional bank with deep Michigan retail branch presence. Competes with Service 1 FCU for Michigan consumer deposits, auto loans, and mortgages, but offers a broader product portfolio including commercial banking.

Regional players

• BluCurrent Credit Union: Missouri-based community credit union serving Springfield-area residents. Comparable as a peer for Service 1 FCU's Missouri expansion branches (Neosho, Shell Knob) and competes for similar consumer members in southwest Missouri.
• Great Southern Bank: Community-focused bank serving southwest Missouri including the Neosho area where Service 1 FCU operates a branch. Comparable consumer deposit and lending products targeting the same rural Missouri customer base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Service1fcu
• YouTubeyoutube.com/channel/UC3XKgig0EpnqDdLmdFvMwpw
• Facebookfacebook.com/service1fcu
• Instagraminstagram.com/service1fcu
• LinkedInlinkedin.com/company/service-1-federal-credit-union

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

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 Service 1 Federal CU