Solidarity Community Federal Credit Union

What Solidarity Community Federal Credit Union does

Solidarity Community Federal Credit Union is a federally chartered, member-owned cooperative depository institution founded in 1954, originally formed by Delco Electronics coworkers. It operates from two branches in Kokomo, Indiana (main office at 201 Southway Blvd. E. and a westside branch on Dixon Road) and serves members across seven north-central Indiana counties — Howard, Tipton, Clinton, Cass, Carroll, Miami, and White — with full-service ATMs additionally deployed in Logansport (November 2023) and Frankfort (December 2023). Product breadth is typical of a community credit union: consumer checking and savings accounts, certificates, credit cards, auto and recreational vehicle loans, mortgages, personal loans, student loans, and small-business banking. Distribution is multi-channel: physical branches, shared branching, direct auto lending at partner dealerships, a website, and a mobile/online platform that was migrated to a new digital banking system in 2025. ATM access is delivered through the CO-OP and Alliance One networks, providing members with 85,000+ surcharge-free ATMs nationwide. Leadership is anchored by CEO Amy Benner, with loan operations handled by named NMLS-licensed originators (Angela Rhees, Erica Foster, Kathleen Walker) and IT/security overseen by a Network Administrator/ISO who has been with the institution since April 2011.

The business model is a standard credit-union net-interest-spread model augmented by fee income. Interest income from auto loans, mortgages, personal loans, and credit cards is the primary revenue stream; fee income from monthly maintenance, ATM surcharges, and overdraft charges provides secondary revenue. Because the entity is a not-for-profit cooperative, surplus is returned to members through above-market deposit rates (Advantage Checking up to 4.00% APY on balances up to $25,000; certificates up to 5.15% APY) and below-market loan rates (auto loans from 4.99% APR; 30-year fixed mortgage at 6.500%). The October 2024 fee restructuring — which cut Courtesy Pay/NSF from $32 to $19, eliminated sub-$5 transaction fees, and removed the Overdraft Transfer Fee — is consistent with that member-return philosophy and modestly trades fee yield for member acquisition and retention. Mortgage vertical capabilities are extended through FHLBank Indianapolis (HomeBoost and Launch down-payment-assistance programs) and Fannie Mae (HomeReady), while the technology stack is conventional third-party core banking with a custom-branded mobile app on iOS and Android. There is no proprietary technology, no API platform, no disclosed AI/ML capability, and no productized software offering — Solidarity is a financial services business whose technology is acquired, not developed.

The customer base is retail and small-business, segmented into general individual members (primary), college students, first-time homebuyers, auto buyers, and small businesses, all geographically constrained to the chartered seven-county service area. Acquisition and engagement rely on community channels — Red Cross blood drives, United Way Imagination Library, financial education programs, a blog authored by Jessica Ausbrook, and organic social — rather than performance marketing or enterprise sales. The institution is regulated by the NCUA, federally chartered, and member deposits are insured up to $250,000 through the NCUSIF. Operating signals over 2023–2025 (ATM expansion into two counties, digital platform migration, fee reductions, MFA/OTP fraud controls) indicate a maturing institution in operational-modernization mode rather than a high-growth challenger; the explicit technology, product, and footprint data support a stable regional cooperative profile with incremental competitive repositioning.

Name

Solidarity Community Federal Credit Union

Legal name

Solidarity Community Federal Credit Union

Website

https://solfcu.org

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

101–250 employees

Short description

Solidarity Community Federal Credit Union is a federally chartered, member-owned cooperative bank founded in 1954, serving individual and small-business members across seven north-central Indiana counties from two Kokomo branches with nationwide ATM access.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage lending
• Savings accounts
• Credit union services

Headquarters

HQ city

Kokomo

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Interest income from auto loans, mortgages, personal loans, and credit cards. Primary revenue stream from spread between loan interest rates and savings/deposit rates.
2. Fee-based Income: Monthly maintenance fees, ATM fees, overdraft fees, and various service charges from deposit accounts and checking services.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Solidarity Community Federal Credit Union is a member-owned, not-for-profit federal credit union headquartered in Kokomo, Indiana, providing retail banking products and lending services to individuals, families, and small businesses in north-central Indiana. Its offerings span checking and savings accounts, share certificates, auto loans, mortgages, personal loans, credit cards, student loans, and business accounts, complemented by online and mobile banking channels. The institution generates revenue primarily through net interest income on loans and fee income on deposit accounts, returning earnings to members through competitive rates and reduced fees.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts Transactional deposit accounts for individual members and small businesses, providing access to debit cards, online/mobile banking, and bill pay services.
• Savings Accounts Interest-bearing deposit accounts designed for personal savings accumulation, available to credit union members.
• Share Certificates (CDs) Fixed-term deposit products offering members higher yields than standard savings accounts in exchange for locking funds for a defined period.
• Business Accounts Deposit accounts tailored for small business owners, supporting routine business banking needs in the credit union's service region.
• Auto Loans Secured vehicle financing for new, used, and recreational vehicles including boats, RVs, and motorcycles, with direct lending at partner dealerships.
• Mortgages First-lien residential real estate loans including conventional, HomeReady, and adjustable-rate mortgages, with down payment assistance options for eligible first-time homebuyers.
• Personal Loans Unsecured installment loans for members to fund personal expenses or consolidate higher-cost debt.
• Credit Cards Revolving credit products including rewards-bearing Visa Signature cards and standard credit cards for member consumers.
• Student Loans Education financing products supporting college students and families funding higher-education expenses.
• Online and Mobile Banking Self-service digital banking channels providing account management, transfers, bill pay, and statements via web and mobile applications.
• Debt Consolidation Loans Specialty loan product that combines higher-rate debt balances into a single repayment plan for member consumers.

Quantifiable outcome

• Up to 4.00% APY on Advantage Checking balances up to $25,000
• +3 more outcomes

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• CO-OP ATM NetworkcoreTechnology or IntegrationPartnership providing members access to over 60,000 surcharge-free ATMs nationwide through the CO-OP network, enabling convenient cash access across the United States.
• Alliance One ATM NetworkcoreTechnology or IntegrationAdditional ATM network partnership providing members expanded access to surcharge-free cash withdrawals at Alliance One participating ATMs nationwide.
• FHLBank Indianapolis (Federal Home Loan Bank of Indianapolis)coreStrategic or Co-development PartnerPartnership enabling HomeBoost and Launch Down Payment Assistance programs, providing eligible members with grants and loans for home purchase down payments through FHLBank Indianapolis affordable housing programs.
• Fannie MaecoreStrategic or Co-development PartnerPartnership offering HomeReady mortgage program, a conventional mortgage with reduced down payment requirements and flexible funding sources for qualified homebuyers, including first-time buyers.
• Red CrossminorGTM or Marketing PartnerCommunity partnership hosting blood drives at credit union locations, demonstrating community commitment and providing venue for member and community engagement.
• United Way of Howard CountyminorGTM or Marketing PartnerPartnership supporting Imagination Library program that provides free books to children in Howard County, demonstrating community investment and family-focused values.

Scale indicators2 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Beacon Credit Union: Indiana-based community credit union offering checking, savings, auto, mortgage, and digital banking to members across multiple Indiana counties. Directly comparable cooperative business model and regional retail banking focus.
• Centra Credit Union: Indiana-headquartered community credit union serving multiple counties with full retail banking, lending, and mortgage products under a member-owned structure. Comparable scale and rural/small-city Indiana operating model.
• Forum Credit Union: Indianapolis-based Indiana credit union with a comparable community-led, member-owned model offering checking, savings, mortgages, auto loans, and digital banking to central Indiana residents. Highly comparable in product mix, cooperative structure, and Indiana market footprint.
• Midwest Members Credit Union: Midwest-based community credit union offering retail deposit, lending, and digital banking products to members across a multi-county regional footprint. Comparable cooperative structure and small-institution operating model to Solidarity.
• Evansville Teachers Federal Credit Union: Indiana-based federal credit union with a community/affinity membership base offering full retail banking, lending, and digital services. Comparable in regulatory status (federal charter), product set, and Indiana footprint.
• Indiana University Credit Union (IUCU): Indiana community credit union offering retail banking, mortgages, auto loans, and digital channels to members across central and southern Indiana. Closely comparable product portfolio and member-owned model, with a defined-field-of-membership charter.
• Three Rivers Federal Credit Union: Fort Wayne, Indiana federal credit union serving members across northeast Indiana with full retail banking and lending products. Comparable cooperative structure, geographic profile (multi-county Indiana), and product breadth.

Broad incumbents

• Salin Bank & Trust Company: Indiana-headquartered community bank serving consumer and small business customers across central Indiana including the Kokomo market. Overlapping product set (checking, mortgages, consumer lending) with a for-profit structure, making it the most direct banking-side comparable for member-vs-bank competitive dynamics.
• Teachers Credit Union (TCU): One of Indiana's largest credit unions with a statewide branch and ATM footprint offering the full retail banking suite. Not a direct geographic competitor, but the most relevant scale comparable for benchmarking digital capability, product breadth, and member-growth trajectory.
• Horizon Bank: Indiana-based community bank with a multi-branch footprint across northern Indiana, offering comparable deposit and lending products to retail and small business customers. Larger and more diversified than Solidarity but operates in overlapping geographies with similar consumer/small-business banking focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/SolidarityCU
• Facebookfacebook.com/solidarityFCU
• LinkedInlinkedin.com/company/solidarity-community-federal-credit-union

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 Solidarity Community Federal Credit Union