SRP Federal Credit Union

What SRP Federal Credit Union does

SRP Federal Credit Union is a not-for-profit, member-owned community credit union founded in 1960 and headquartered in North Augusta, South Carolina, serving over 200,000 members across the Central Savannah River Area (CSRA) spanning South Carolina and Georgia. The institution operates under a community-charter model through at least seven documented branch locations, an ATM and virtual teller network, and a Mobile Branch that brings services to schools, festivals, and community events. Its core offering spans consumer deposit products (Primary Savings, Checking, Share Certificates with terms from 3 to 60 months and rates up to 3.75% APY), consumer lending (auto loans from 4.74% APR, mortgages, home equity, RV loans, personal loans, and a six-variant Visa credit card portfolio including co-branded GreenJackets cards), and a growing business banking vertical covering SMB checking, Business Boost Savings up to 4.00% APY, commercial real estate lending, and dedicated relationship management.

The underlying technology stack is built on a web banking platform (SRP Online) and mobile applications (iOS and Android SRP Mobile) supporting 24/7 account access, transfers, online loan applications, e-statements, mobile check deposit via Snap-and-Submit, card management controls, travel notices, and digital wallet provisioning across Apple Pay, Google Pay, Samsung Wallet, and Garmin Pay. Online account opening is supported, and the credit union maintains in-house mortgage underwriting capabilities alongside a network of mortgage originators, commercial loan officers, and certified financial counselors. Partnerships extend the platform into adjacent services: Ameriprise for investment and retirement planning, Trust & Will for estate planning, BALANCE for financial counseling, Deluxe for check reordering, and Fiserv for merchant services.

Revenue mechanics follow a standard credit-union model: net interest income from loans (auto, mortgage, commercial, credit card) is the primary driver, supplemented by account and service fees, debit/credit card interchange, and ancillary income from insurance products (GAP, credit life/disability) and the Route 66 vehicle warranty program. Pricing is unit-based for loans, subscription/term-based for share certificates, and tiered for business savings. Distribution combines physical branches, a mobile branch unit, phone banking, self-serve digital channels, and direct relationship teams for business and mortgage customers. Customer segments are horizontal (individual members, small businesses, nonprofits) with a horizontal segmentation approach emphasizing community penetration over vertical specialization.

Name

SRP Federal Credit Union

Legal name

SRP Federal Credit Union

Website

https://srpfcu.org

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

101–250 employees

Short description

SRP Federal Credit Union is a not-for-profit, member-owned community credit union founded in 1960, serving over 200,000 members across the CSRA region with consumer deposits, consumer and business lending, credit cards, mortgages, and digital banking through web and mobile channels.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (522130), Depository Credit Intermediation (5221), Credit Card Issuing (522210)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Credit union deposits
• Mortgage origination
• Small business banking

Headquarters

HQ city

North Augusta

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: SRP generates revenue primarily through interest charged on loans including auto loans, mortgages, personal loans, credit cards, and business loans. Interest rates vary by product type, creditworthiness, and term length.
2. Account Fees and Service Charges: Monthly maintenance fees, transaction fees, overdraft fees, wire transfer fees, stop payment fees, and other standard banking service charges. Some fees are waived based on account activity or balance thresholds.
3. Credit Card Interchange: Revenue from credit card transaction processing and interchange fees on Visa credit and debit card transactions.
4. Dividend/Interest Income on Deposits: As a credit union, SRP pays dividends to members on deposit accounts (savings, checking, certificates) from the interest earned on loans and investments.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

SRP Federal Credit Union is a community-chartered, member-owned credit union that delivers consumer and business banking products and services, including deposit accounts (savings, checking, share certificates), consumer lending (auto, personal, recreational vehicle, mortgage, home equity, credit cards), business banking (checking, savings, lending), Visa credit and debit cards, digital wallet provisioning, and financial wellness/education programs to over 200,000 members in the Central Savannah River Area.

Product overview

SRP Federal Credit Union is a community-based credit union offering a comprehensive suite of financial products and services through both a web-based online banking platform (SRP Online) and a mobile application (SRP Mobile). The core banking offerings include savings accounts (Primary Savings, Share Certificates with terms from 3-60 months), checking accounts, and a CentSaver round-up savings feature. Lending products span consumer loans (auto loans with rates from 4.74% APR, recreational vehicles, personal loans, mortgages including Conventional/VA/FHA/Non-Conforming/10-Year/10/1 ARM, and home equity products), and business banking services (Business Checking in Access/Premier/Non-Profit tiers, Business Savings including Business Boost with up to 4.00% APY, and Business Lending for vehicles/equipment/commercial real estate). Credit card offerings include the Visa Signature (1.5 points/dollar, elite benefits), Visa Rewards (1 point/dollar), Visa Traditional (low rate), Visa Traditional Secured (credit building), GreenJackets co-branded cards (5 points at stadium), and Visa Business. Digital banking features include Online Bill Pay, e-Statements, and Digital Wallet (Google Pay/Apple Pay/Samsung Wallet/Garmin Pay). Financial wellness services encompass BALANCE counseling, SRP Financial Counselors, M3 Money Club (ages 7-12), Elements of Money (ages 13-17), and SRP Retirement & Investment Services through Ameriprise Financial.

Differentiator

Problem solved

Functional benefit

Brands

• SRP Retirement & Investment Services: Investment services program offered through Ameriprise Financial Institutions Group, providing financial planning and investment solutions to members.
• M3 Kids®
• Elements of Money®
• Trust & Will
• BALANCE®
• CentSaver

Products and services

• SRP Online Internet-based banking platform enabling 24/7 account access for checking balances, viewing histories, transferring funds, opening accounts, viewing e-Statements, applying for loans, and managing bill payments for individual and business members.
• SRP Mobile Mobile banking application for iOS and Android enabling account management, fund transfers, mobile check deposit via Snap and Submit, debit/credit card controls, alerts, travel notices, and digital wallet provisioning for SRP members.
• Primary Savings Account Core share savings account with 0.37% APY, no minimum balance requirement, and monthly dividend crediting, required to establish SRP membership.
• Checking Account Personal checking account with 0.10% APY providing check-writing capabilities, ATM access, and everyday transactional banking for individual members.
• Share Certificates Fixed-rate certificate accounts with terms ranging from 3 to 60 months, APYs up to 3.75% for 12-month terms, with $500 minimum opening deposit and early-withdrawal penalties equal to 90 days of interest.
• Auto Loans Vehicle financing for new (2024+) and used vehicles (2013-2023) with rates as low as 4.74% APR for new vehicles and 5.29% APR for used, with terms up to 84 months.
• Recreational Vehicle Loans Financing for RVs, travel trailers, boats, and watercraft with rates as low as 7.44% APR and terms up to 144 months.
• Personal Loans Unsecured personal loans with rates from 9.89% to 15.89% APR based on credit tier and term lengths from 12 to 60 months.
• Mortgages Home mortgage products including Conventional, VA, FHA, Non-Conforming, 10-Year Fixed, and 10/1 ARM loans with rates starting at 5.625% for 10/1 ARM and up to 0.25% direct deposit discount available, with in-house underwriting.
• Home Equity Loans Home equity products including Interest-Only HELOC (up to 80% LTV) and Fixed Rate/Fixed Term home equity loans for debt consolidation, education, or home improvements.
• Visa Signature Card Elite credit card earning 1.5 points per dollar with 10,000 bonus points on first $1,000 spent, 1.99% intro APR for 12 months, rates 9.75%-18.00% after intro, with Signature benefits including NortonLifeLock and concierge services.
• Visa Rewards Card Credit card earning 1 point per dollar spent with 1.99% intro APR for 12 months, rates 9.75%-18.00% after intro, redeemable for travel, cash, or merchandise.
• Visa Traditional Card Low-rate credit card with 1.99% intro APR for 12 months, rates as low as 8.75% APR after intro (8.75%-18.00% range), no rewards program.
• Visa Traditional Secured Card Secured credit card for building or improving credit, backed by a savings account, with rates at 17.50% APR.
• GreenJackets Credit Cards Co-branded Augusta GreenJackets minor league baseball team credit cards earning 5 points per dollar at SRP Park (ticket office, gift store, concessions) and 1-1.5 points elsewhere.
• Visa Business Card Business credit card earning 1 point per dollar with 1.99% intro APR for 12 months, rates 13.25%-18.00% after intro, with 24/7 call support and fraud monitoring.
• Business Checking Business deposit accounts including Access Checking ($100 min, $5 fee waived with 5 debit transactions), Premier Checking (no minimum, $15 fee waived with $150K loan balance or $5K deposits), and Non-Profit Checking (no fees).
• Business Savings Business savings accounts including Primary Business Savings, Business Boost High Yield Savings (up to 4.00% APY), and Community Boost Savings for 501(c)(3) organizations (up to 3.00% APY).
• Business Lending Commercial loan products including vehicle loans, equipment loans, commercial real estate, investment property, lines of credit, refinances, and letters of credit for small businesses in the CSRA.
• Digital Wallet Mobile payment integration supporting Google Pay, Apple Pay, Samsung Wallet, and Garmin Pay for contactless in-store, in-app, and online purchases using SRP debit and credit cards.
• CentSaver Automatic savings program that rounds up debit card purchases to the nearest dollar and transfers the difference to a savings account, with multiplier options of 1x, 2x, or 5x.
• BALANCE Financial Wellness Financial education and counseling service offering debt reduction programs, first-time home buyer guidance, online budgeting tools, and certified financial counseling to SRP members.
• SRP Financial Counselors No-cost one-on-one financial counseling with certified SRP counselors available to assist members with budgeting, financial planning, and money management.
• M3 Money Club Financial literacy website for children ages 7-12 featuring games, podcasts, comics, and educational content with mascots Cash and Violet.
• Elements of Money Financial literacy website for teenagers ages 13-17 with articles, podcasts, quizzes, and videos covering college planning, car buying, and credit card information.
• SRP Retirement & Investment Services Investment services program through Ameriprise Financial offering financial planning, retirement planning, investments, education funding, insurance, estate planning, and tax strategies with on-site advisor Bradley Key.
• Visa Debit Cards Debit cards with Affinity Program options for local high schools, providing funding through card transactions, plus standard debit functionality.
• Platinum Line of Credit Revolving credit line for unplanned expenses with competitive rates, accessible as needed up to the credit limit.
• Share/Certificate Loans Secured loans backed by savings accounts or share certificates at competitive rates for SRP members.
• Skip-A-Pay Loan payment deferral service allowing one skipped payment per rolling 12-month period on eligible loans for a $25 fee, extending the loan term.
• Guaranteed Asset Protection (GAP) Coverage protecting against deficiency balance if a vehicle is totaled or stolen, covering the gap between insurance settlement and outstanding loan balance.
• Credit Life Insurance Insurance paying off the member's SRP loan in the event of death, provided through Allied Solutions/Minnesota Life.
• Credit Disability Insurance Insurance making loan payments if the member becomes disabled or has accident-related income loss, provided through Allied Solutions/Minnesota Life.
• Route 66 Warranty Mechanical breakdown protection for new and used vehicles at any mileage with no deductible on covered parts or labor, available nationwide.
• Auto Loan Refinance Refinancing service for auto and personal loans from other institutions when SRP offers lower rates, allowing members to consolidate and reduce interest costs.
• SRP Financial Education Program Free financial education program for groups and organizations taught virtually and in-person covering budgeting, credit management, debt management, small business planning, investing, retirement planning, and taxes.
• Trust & Will Estate Planning Online estate planning service offered in partnership with Trust & Will, providing members with 20% off estate plans for wills and trusts.

Quantifiable outcome

• Over 200,000 members served across the CSRA region
• +4 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Trust & WillminorStrategic or Co-development PartnerSRP partnered with Trust & Will to provide members with online estate planning services. Members receive 20% off estate plans. Trust & Will is the estate planning partner of 100+ financial institutions and has helped over half a million families.
• Ameriprise Financial Institutions GroupcoreStrategic or Co-development PartnerSRP offers investment services through Ameriprise Financial Institutions Group, providing on-site financial planning, comprehensive investment solutions, and digital capabilities. Financial advisor Bradley Key serves SRP members through this partnership.
• BALANCEminorStrategic or Co-development PartnerSRP provides BALANCE financial education and counseling services to members, offering debt reduction, home ownership guidance, and money management skills through certified financial counselors.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Coastal Federal Credit Union: North Carolina-based community credit union with comparable size, branch network, and digital banking capabilities. Similar member-owned model serving retail and business customers.
• Truliant Federal Credit Union: Mid-Atlantic community credit union serving the Carolinas and Virginia with consumer banking, lending, business services, and investments. Comparable scale and product breadth to SRP.
• Self-Help Federal Credit Union: Community development credit union serving the Carolinas, Georgia, and broader Southeast with consumer, mortgage, and small-business lending. Comparable community-mission focus and Southeast footprint.
• Georgia's Own Credit Union: Atlanta-based community credit union serving individuals and businesses across Georgia. Directly comparable to SRP given geographic overlap (CSRA includes Georgia) and member-focused operating model.
• Delta Community Credit Union: Georgia's largest credit union with broad consumer and business banking offerings. Comparable member-owned structure and overlapping CSRA/Georgia geography with SRP.
• Founders Federal Credit Union: Community credit union serving the Carolinas and Virginia with full consumer, mortgage, and business banking products. Similar community-charter positioning and member base profile.
• South Carolina Federal Credit Union: South Carolina-headquartered community credit union serving individuals and businesses across the state. Directly comparable to SRP in geography overlap, member-owned structure, and full consumer/business product suite.
• Robins Financial Credit Union: Georgia-based community credit union serving individuals, businesses, and military-affiliated members. Comparable scale, geographic adjacency, and full-service banking model to SRP.
• Local Government Federal Credit Union: North Carolina-based community credit union with consumer and business banking products. Comparable member-owned structure and mid-Atlantic Southeast regional orientation.

Broad incumbents

• Truist Financial Corporation: Large regional bank with significant retail and commercial banking presence across the Carolinas and Georgia. Competes with SRP for CSRA deposits, mortgages, and small-business relationships as a broad incumbent.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/srpfcu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 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 SRP Federal Credit Union