Sioux Falls Federal Credit Union

What Sioux Falls Federal Credit Union does

Sioux Falls Federal Credit Union operates as Levo Credit Union, a member-owned cooperative financial institution chartered under the National Credit Union Administration and headquartered in Sioux Falls, South Dakota. The firm serves individual members and small-to-medium businesses with a full suite of deposit products (checking, savings, certificates, IRAs, HSAs in both personal and business variants), consumer and commercial lending (auto loans including hybrid/EV financing, mortgages, home equity, personal, recreation, student, SBA, commercial real estate, term, and lines of credit), and ancillary services including insurance, merchant services, and cash management/payroll.

The technology stack is centered on a digital banking platform that delivers account alerts, bill pay, mobile deposit, P2P payments, mobile wallet support (Apple Pay, Google Pay, Samsung Pay), card controls, e-statements, picture-pay bill processing, vaulted goal-based savings, and an AI-driven conversational banking interface through iOS and Android mobile apps and a web-based online banking portal. Distribution includes physical branches, an extensive regional ATM network, Interactive Teller Machines (ITMs) for extended-hours video banking, and a 24/7 Anytime Teller phone service. The core platform is built on a Softek-based mobile foundation (evidenced by the playstore package identifier referencing softek.ofxclmobile.siouxfallsfcuprod), indicating a partnership-led technology posture rather than proprietary core banking.

The business model rests on three revenue streams: interest income on loans (auto, mortgage, home equity, personal, credit cards, business), fee income from overdraft, ATM, wire transfer, and account services, and investment income from securities portfolio yields. Member ownership and cooperative economics are reflected in disclosed member outcomes — $93,506 in rate savings, $6,546,757 in dividends paid, and $75,000 in community give-back in the most recent reported period. Member acquisition is community-led with digital channel reinforcement through social media, email, and an active Refer-a-Friend referral program.

Name

Sioux Falls Federal Credit Union

Legal name

Levo Credit Union

Website

https://siouxfallsfcu.org

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

51–100 employees

Short description

Sioux Falls Federal Credit Union (dba Levo Credit Union) is a member-owned NCUA-chartered credit union in Sioux Falls, South Dakota, serving individual members and small businesses with consumer and commercial deposit, lending, insurance, and digital banking products.

Ownership category

akta.pro rank

Headquarters

HQ city

Sioux Falls

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: Primary revenue stream from interest charged on various loan products including auto loans, mortgages, home equity loans, personal loans, credit cards, and business loans. Rates are shared with members (lower rates than traditional banks).
2. Fee Income: Various banking fees including overdraft protection fees, ATM fees (for out-of-network use), wire transfer fees, and account service fees. Fee schedule available in disclosure documents.
3. Investment Income: Income from investment of deposits and reserves in securities and other financial instruments, generating returns that benefit the credit union and its members through better rates.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Sioux Falls Federal Credit Union, operating as Levo Credit Union, is a member-owned cooperative financial institution offering a comprehensive suite of personal and business banking products. Core offerings include checking and savings accounts, certificates, retirement and health savings accounts, consumer and commercial loans (auto, mortgage, home equity, personal, student, recreation, SBA), credit cards, digital banking via mobile and online platforms, merchant services, cash management/payroll, and personal insurance products including auto, home, life, recreation, business/farm, and medical coverage.

Product overview

Levo Credit Union (formerly Sioux Falls Federal Credit Union) offers a comprehensive suite of financial products organized across personal banking, business banking, loans and credit, digital banking, insurance, and protection services. The core product portfolio includes checking and savings accounts (both personal and business), term certificates, retirement accounts, and health savings accounts. Lending products span auto loans (including hybrid vehicle financing at rates as low as 4.74% APR), home loans and mortgages (5.875% for 10/15-year fixed), home equity loans (7.25% 5-year fixed), credit cards (starting at 14.49% APR), personal loans, student loans, recreation loans, and construction loans. Business lending includes SBA programs, commercial real estate financing, term loans, and lines of credit. Digital banking capabilities are delivered through online and mobile platforms featuring account alerts, bill pay, card controls, conversational banking, Easy Vest automated savings, e-statements, mobile deposit, mobile wallet (Apple Pay, Google Pay, Samsung Pay), P2P payments, Picture Pay, Portal Pay, Skip A Pay, fund transfers, and Vault goal-based savings. Additional services include Anytime Teller (24/7 phone banking), ITMs, merchant services, cash management/payroll, and member programs such as Member Perks and Refer a Friend. Insurance offerings cover auto, home, recreation, business/farm, life, and medical. Protection products include GAP, extended warranty, and debt protection plans.

Differentiator

Problem solved

Functional benefit

Products and services

• Starter Checking Entry-level checking account designed for new members establishing their first banking relationship with the credit union.
• Personal Checking Personal checking account with access to online and mobile banking services.
• Personal Savings Personal savings account for depositing and growing funds with competitive dividend rates.
• Certificates Term deposit accounts offering fixed rates for specified time periods.
• Retirement Accounts (IRAs) Individual retirement account (IRA) options including traditional and Roth IRAs.
• Health Savings Account (HSA) Health savings account (HSA) for covering qualified medical expenses with tax advantages.
• Business Checking Checking account tailored for business members with tools for managing business finances.
• Business Savings Savings account designed for business owners to set aside funds.
• Auto Loans Financing options for purchasing new or used vehicles with rates as low as 4.74% APR.
• Hybrid Auto Loan Auto loan product specifically designed for hybrid and electric vehicles with competitive rates.
• Home Loans (Mortgages) Mortgage financing for purchasing homes with fixed-rate options (10 or 15 year terms at 5.875%).
• Home Equity Loans Loans using home equity as collateral with 5-year fixed rates at 7.25%.
• Visa Credit Card Visa credit card with competitive rates starting at 14.49% APR.
• Personal Loans Unsecured loans for personal use with flexible terms.
• Student Loans Education financing for members pursuing higher education.
• Recreation Loans Financing for recreational vehicles including boats, RVs, and other toys.
• Construction Loans Short-term financing for home construction projects.
• Business Loans & Credit Comprehensive business lending products including various credit facilities.
• Business Term Loans Fixed-term business loans for various operational needs.
• Commercial Real Estate Loans Financing for commercial property acquisition and development.
• Business Lines of Credit Revolving credit lines for businesses with flexible access to funds.
• SBA Loan Programs Small Business Administration loan programs including SBA 7(a) and other government-backed options.
• Business Credit Card Credit card designed for business expenses with tracking and rewards features.
• Mobile Banking App Native mobile banking application available on iOS and Android for full account access, deposits, transfers, card controls, and payments.
• Merchant Services Payment processing services for business members to accept card payments.
• Cash Management/Payroll Business banking services for managing cash flow and payroll processing.
• Auto Insurance Auto insurance coverage for vehicles.
• Home Insurance Homeowners insurance coverage.
• Life Insurance Life insurance products.
• Medical Insurance Medical/health insurance coverage.
• Business & Farm Insurance Commercial insurance coverage for businesses and farms.
• Recreation Insurance Insurance for recreational vehicles including RVs and ATVs.
• GAP Protection Guaranteed Asset Protection covering the gap between vehicle value and loan balance.
• Extended Warranty Extended vehicle warranty protection plans.
• Debt Protection Credit protection covering debt in case of death, disability, or unemployment.
• Overdraft Protection Protection service covering overdrafts on checking accounts.
• Interactive Teller Machines (ITMs) Video-enabled teller machines offering extended banking hours with live teller assistance.
• Anytime Teller 24/7 telephone banking service for account access without internet.

Quantifiable outcome

• Members saved $93,506 in lower rates on loans
• +2 more outcomes

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Service First Federal Credit Union: Sioux Falls, SD-based federal credit union offering similar personal/business banking, lending, and digital services to overlapping members in the same primary market — the most direct local competitor.
• Black Hills Federal Credit Union: South Dakota-based federal credit union serving a similar community-anchored membership with comparable deposit, lending, and digital banking products — directly comparable regional FCU peer.
• Bellco Credit Union: Mid-sized community credit union offering a comparable full-service suite (consumer/business banking, mortgages, auto, credit cards, insurance) and digital platform — similar scale and product breadth benchmark.
• Connexus Credit Union: Community credit union with national digital reach offering similar deposit, lending, and digital banking products — comparable full-service community CU with stronger geographic diversification.
• SchoolsFirst Federal Credit Union: Large federal credit union providing full-service consumer and business banking, lending, and digital channels to a defined membership — directly comparable federally-chartered cooperative model at larger scale.
• Bethpage Federal Credit Union: Large community FCU offering comprehensive personal/business banking, mortgages, and digital services to a defined membership — closely comparable federally chartered community cooperative.
• Digital Federal Credit Union (DCU): Community federal credit union with strong digital banking capabilities serving a defined membership — comparable digitally-mature FCU peer with similar product breadth.
• VyStar Credit Union: Large community credit union offering full-service consumer and business banking, lending, and digital channels — comparable cooperative model with stronger scale and geographic footprint.
• Wings Financial Credit Union: Mid-sized community federal credit union with full-service consumer and business banking, lending, and digital capabilities — closely comparable cooperative peer at similar scale.

Regional players

• Great Western Bank: Regional bank headquartered in Sioux Falls offering comparable deposit, lending, and digital products to overlapping customers in the same geographic market — a key regional competitor operating under a bank charter.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/levofcu
• YouTubeyoutube.com/@levofcu
• Facebookfacebook.com/LevoFCU
• LinkedInlinkedin.com/company/levofcu
• Instagraminstagram.com/levofcu

Compliance1 record

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 Sioux Falls Federal Credit Union