State Farm Federal Credit Union

What State Farm Federal Credit Union does

State Farm Federal Credit Union (SFFCU) is a federally chartered, member-owned cooperative credit union founded in 1936 and headquartered in Bloomington, Illinois, that provides banking and lending services exclusively to State Farm employees, agents, retirees, and their immediate family members. As of year-end 2025, the institution managed $5.3 billion in total assets, a loan portfolio exceeding $1 billion, and returned $177.5 million in dividends to members on their savings. Its product set spans deposit products (primary and secondary share savings, IRA accounts, business accounts, trust accounts, minor and specialty custodial accounts) and lending products (auto/truck, RV/boat/motorcycle, personal, line of credit, share-secured, title, and natural disaster relief loans), supplemented by debt protection coverage. Distribution is digital-first — web-based online banking and a native iOS/Android mobile app with Remote Deposit Capture, account aggregation, in-app chat, and eStatements — anchored by a single walk-up Member Care Station at State Farm Corporate Headquarters and integrated State Farm payroll deduction for automated loan repayment and savings contributions. Membership growth is driven entirely by the State Farm ecosystem through word-of-mouth, referrals, and inclusion in the State Farm Total Rewards package; the institution is NCUA-insured, governed by a member-elected volunteer board, and not externally funded or publicly traded.

Name

State Farm Federal Credit Union

Legal name

State Farm Federal Credit Union

Website

https://statefarmfcu.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

1–10 employees

Short description

State Farm Federal Credit Union is a federally chartered, member-owned cooperative that provides deposit, lending, and digital banking services exclusively to State Farm employees, agents, retirees, and their immediate families. It manages over $5.3 billion in assets as of 2025.

Ownership category

akta.pro rank

Product category

Credit Union Services

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Credit union services
• Consumer lending
• Membership banking
• Vehicle loan financing
• Share savings accounts

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Revenue model

1. Vehicle Loans: Auto, truck, boat, motorcycle, RV, and other vehicle loans represent a major lending portfolio. Total loan portfolio exceeds $1 billion.
2. Personal Loans and Lines of Credit: Closed-end personal loans, open-end lines of credit, and share-secured loans. Interest rates range from 4.20% APR (share secured) to 9.49% APR (line of credit).
3. Share Savings Accounts: Primary savings accounts earning 4.00% dividend rate (4.08% APY), compounded daily. Membership requires $5 minimum deposit.
4. IRA Savings Accounts: Traditional and Roth IRA savings accounts with same rates as regular share accounts (4.08% APY).
5. Business Share Accounts: Corporate, LLC, partnership, and sole proprietorship accounts for eligible business entities.
6. Fee Income: Fees for wire transfers ($25 outgoing, $10 incoming), overnight mail, research services, stop payments ($16), and NSF/returned items ($25).

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

State Farm Federal Credit Union is a federally chartered, member-owned cooperative that provides deposit accounts (share savings, secondary share, IRA, business, trust, and specialty accounts) and consumer loans (auto/truck, boat, motorcycle, RV, personal, line of credit, share-secured, and disaster relief loans) exclusively to State Farm employees, agents, retirees, and their immediate family members. Membership is delivered through digital-first channels (online banking and mobile app with remote deposit capture), one Member Care Station walk-up window at State Farm Corporate Headquarters, and phone/chat support, with payroll deduction integration providing automated savings and loan repayment.

Product overview

State Farm Federal Credit Union offers a comprehensive suite of financial products and digital banking services. The core offering centers on loan products (auto/truck loans, recreational vehicle loans, personal loans, lines of credit, share secured loans, disaster relief loans, and title loans) and deposit accounts (primary share savings, secondary share accounts, IRA accounts, business accounts, trust accounts, and specialty accounts for minors, guardians, estates, and organizations). Digital banking is delivered through Online Banking and a Mobile Banking App featuring Remote Deposit Capture, fund transfers, loan applications, eStatements, wire/ACH transfers, budgeting tools, and account aggregation. Additional services include Debt Protection, payroll deductions for State Farm employees, and financial planning resources.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto/Truck Loans Vehicle financing for new and used automobiles and trucks with loan preapproval, purchase, and refinance options available to members.
• Boat, Motorcycle, RV and Other Vehicle Loans Financing for recreational vehicles including boats up to 32 feet, motorcycles, motorhomes, travel trailers, campers, personal watercraft, snowmobiles, and trailers.
• Personal Loans Closed-end personal loans for debt consolidation, home improvement, business expenses, automobile repairs, medical expenses, unexpected expenses, and life events. Maximum $50,000.
• Line of Credit Revolving credit line allowing borrowers to request advances up to an approved limit of $50,000, with a minimum advance of $1,000 at 9.49% APR variable.
• Share Secured Loans Loans secured by the borrower's own Share Savings account balance, using up to 100% of account funds as collateral. Minimum loan $500.
• Natural Disaster Relief Loan Specialized loan product designed to assist members recovering from natural disasters.
• Title Loans Loans using free and clear auto or truck titles as collateral. Limited to automobiles and trucks only.
• Primary Share Savings Account Core savings account establishing membership in the credit union, earning 4.00% dividend rate (4.08% APY) compounded daily. Requires minimum $5 deposit for individual accounts, $10 for joint accounts.
• Secondary Share Account Sub-accounts to help organize savings for specific financial goals, with nickname capability for budgeting purposes.
• IRA Savings Accounts Individual Retirement Accounts including Traditional IRAs (tax-deductible contributions) and Roth IRAs (tax-free retirement income), earning the same 4.08% APY as regular share accounts.
• Business Share Accounts Business deposit accounts for corporations, LLCs, partnerships, and sole proprietorships held in corporate names with tax IDs, available to eligible business entities within the membership.
• Trust Accounts Accounts set up under trust agreements for funds held by trustees.
• Special Share Accounts Specialized accounts including Estate Accounts, Guardian Accounts, Club/Organization Accounts, Representative Payee Accounts, and UTMA/UGMA Accounts.
• Minor Account Savings accounts for minors, jointly held with a parent or guardian who has reached the age of majority.
• Online Banking Web-based platform enabling members to manage accounts, transfer funds, apply for loans, view statements, set up alerts, budget, and aggregate external accounts.
• Mobile Banking App Free mobile application for iOS and Android allowing check deposits via Remote Deposit Capture, balance viewing, fund transfers, loan applications, and account management.
• eStatements Electronic statement delivery enabling faster receipt and online viewing of account statements.
• Wire Transfers Electronic transfer service for sending or receiving funds same or next business day.
• ACH/Electronic Transfers Automated Clearing House service for electronic payment processing and fund transfers.
• Debt Protection Member Protection Program offering debt cancellation coverage for loss of life and disability on existing loan balances or payments.
• Payroll Deductions Automatic savings and loan payment contributions via State Farm payroll deduction.

Quantifiable outcome

• Dividend rate of 4.00% (4.08% APY) significantly above national average for savings accounts
• +4 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature7 records

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Pentagon Federal Credit Union (PenFed): PenFed is a large federally chartered, employer/affinity-based credit union serving military, DoD civilians, and their families. Comparable scale, federal charter, broad consumer lending/savings product suite, and digital-first banking model.
• BECU (Boeing Employees Credit Union): BECU is a large employer-affiliated credit union founded to serve Boeing employees and now serves a broader community field of membership. Highly comparable operating model: member-owned cooperative, employer-affiliated origin, broad lending/savings suite, digital-first distribution, and NCUA-insured federal charter.
• Golden 1 Credit Union: Golden 1 is a large California-based credit union serving state employees and community members with full consumer banking, auto lending, and digital channels. Comparable size and federally insured structure with employer-affiliated membership roots.
• SchoolsFirst Federal Credit Union: SchoolsFirst is an employer-affiliated credit union serving California school employees and their families. Direct structural analog: closed field of membership tied to a single employer community, competitive deposit rates, auto/home lending focus, and digital delivery.
• Connexus Credit Union: Connexus is a federally insured credit union serving employer groups and a community field of membership, with strong direct-deposit, high-yield savings, and consumer lending propositions. Comparable asset scale and product set to SFFCU.
• Royal Credit Union: Royal is a Wisconsin-based employer-affiliated and community-chartered credit union offering competitive savings/loan products and digital banking. Comparable federally insured status, member-owned cooperative structure, and diversified consumer lending portfolio.
• Patelco Credit Union: Patelco is a Bay Area credit union that originated from a corporate employer base and now has a community field of membership. Comparable asset scale, full consumer lending suite, competitive savings rates, and NCUA-insured federal charter.
• First Tech Federal Credit Union: First Tech is an employer/occupational credit union serving employees of major technology companies (Intel, HP, Microsoft, etc.) — directly analogous to SFFCU's employer-constituency structure. Similar product mix (auto loans, savings, digital banking) and NCUA-insured federal charter.
• Alliant Credit Union: Alliant operates as a digital-first, employer-affiliated credit union serving employees of partner companies and select organizations. Highly comparable digital-only distribution, high-yield savings positioning, and consumer lending focus.
• Lockheed Martin Federal Credit Union: LMFCU is an employer-specific federal credit union serving Lockheed Martin employees and their families — directly analogous "exclusive single employer" model to SFFCU's State Farm exclusivity. Comparable closed field of membership and employee-benefit positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/state-farm-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 State Farm Federal Credit Union