Crane Credit Union

What Crane Credit Union does

Crane Credit Union is a state-chartered, nonprofit, member-owned cooperative financial institution headquartered in Odon, Indiana, founded in 1955 to serve employees of the Crane Naval Base. It provides consumer and small-business banking products, including checking (notably a 3.30% APY High-Yield Checking tier), savings and money market accounts (up to 2.78% APY), share certificates (including a 4.00% APY 13-month special), IRAs, auto loans (from 5.89% APR), mortgages and home equity lines of credit, personal loans, and Visa credit and debit cards. Its investment and retirement offerings are delivered through the Crane Investment Services subsidiary in partnership with LPL Financial, and insurance products are referred through TruStage.

The credit union distributes through 18 branches across southwestern Indiana, 21+ in-network ATMs, and the CO-OP Shared Branching and Alliance One networks that extend fee-free access to nearly 5,000 branches and 5,000 ATMs nationwide. Its digital banking stack includes a mobile app with mobile deposit, card controls, bill pay, Zelle P2P, and 24/7 chat support, plus mobile wallet integrations for Apple, Samsung, Android, Fitbit, and Garmin Pay. Underlying loan and deposit processing uses industry-standard providers (Baconpay for online loan payments, Visa for card issuing, STAR for ATM access), with Google Analytics and Cookieyes for web-side analytics and consent management.

Crane generates revenue primarily through net interest income on its lending portfolio (auto, mortgage, home equity, personal, credit card, and business loans), supplemented by deposit account service fees, debit and credit card interchange, LPL referral fees on investment products, and certificate early-withdrawal penalties. Membership growth is driven by geographic expansion (the field of membership now spans 28 Indiana counties plus Clark County, IL and Henderson County, KY), Select Employee Group partnerships with regional employers, family-member referral, and a series of credit union mergers and whole-bank acquisitions (Community State Bank in 2020, Our Community Bank in 2021, Hulman Field Technicians FCU in 2022). The institution converted from a federal to a state charter in 2015, enabling that expansion, and is federally insured by the NCUA.

Name

Crane Credit Union

Legal name

Crane Credit Union

Website

https://cranecu.org

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

101–250 employees

Short description

Crane Credit Union is a nonprofit, member-owned credit union founded in 1955, headquartered in Odon, Indiana, serving consumer and small-business members across 28 Indiana counties plus Clark County, IL and Henderson County, KY through 18 branches, a mobile banking platform, and the CO-OP and Alliance One shared networks.

Ownership category

akta.pro rank

Product category

Credit Union Banking Services

NAICS

Credit Unions (52213)

SIC

National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industries

Employer/Occupational Credit Unions (FSABAEAB), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Credit union membership
• Mortgage lending
• Business banking services

Headquarters

HQ city

Odon

HQ country

United States

HQ region

North America

Offices18 records

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 from Lending: Primary revenue driver from auto loans, mortgages, home equity loans, personal loans, credit cards, and business loans. Interest is calculated and paid monthly/quarterly based on loan type and balance.
2. Checking and Savings Account Fees: Monthly service fees, per-item transaction fees, and account maintenance charges. Business accounts have tiered fee structures based on transaction volume.
3. Card Interchange Revenue: Visa debit and credit card transaction fees from merchant processing
4. Investment Services Referral Fees: Referrals to LPL Financial for investment, retirement, and insurance products; LPL pays referral fees to Crane Credit Union
5. Share Certificate Early Withdrawal Penalties: Fees assessed for early withdrawal from certificate accounts before maturity

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Crane Credit Union is a nonprofit, state-chartered credit union founded in 1955 in Odon, Indiana, that provides retail and commercial banking services to its member-owners. It offers deposit products (checking, savings, money markets, certificates, IRAs), consumer lending products (auto loans, mortgages, home equity, credit cards, personal loans), and business banking services, complemented by investment advisory services through its subsidiary Crane Investment Services.

Differentiator

Problem solved

Functional benefit

Brands

• Crane Investment Services: Investment services subsidiary offering retirement planning, investment management, education savings, and financial planning. Securities and advisory services are offered through LPL Financial.

Products and services

• Checking Accounts Transaction deposit accounts for individual members and businesses, providing day-to-day banking functionality including debit card access and online bill payment.
• Savings Accounts Interest-bearing deposit accounts designed for personal savings accumulation, available to individual members.
• Money Market Accounts Tiered interest deposit accounts offering higher yields than standard savings with limited transaction privileges.
• Certificates (CDs) Fixed-term deposit products offering guaranteed interest rates over specified maturity periods.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts available to individual members for long-term retirement planning.
• Auto Loans Consumer installment loans for new and used vehicle financing offered to individual members.
• Mortgage Loans Residential real estate loans for home purchases and refinancing offered to individual members.
• Home Equity Loans Secured loans using residential property equity as collateral for individual borrowing needs.
• Credit Cards Revolving credit products offered to individual members for consumer purchases and balance management.
• Personal Loans Unsecured installment loans for personal borrowing needs offered to individual members.
• Business Banking Deposit, lending, and treasury products tailored to small and mid-sized businesses operating within the credit union's field of membership.
• Investment Services (Crane Investment Services) Investment advisory and brokerage services offered through a subsidiary partnership with LPL Financial, providing wealth management to individual members.

Quantifiable outcome

• Earn 3.30% APY on High-Yield Checking balances up to $20,000 with qualifying activities
• +4 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• CO-OP Shared BranchingcoreChannel Partner/ Reseller/ DistributorCrane Credit Union is a member of the CO-OP Shared Branching network, giving members access to nearly 5,000 other credit union branch locations nationwide. Members can make deposits, withdrawals, transfers, and loan payment transactions at any CO-OP shared branch when traveling or relocated.
• Alliance One NetworkcoreTechnology or IntegrationSurcharge-free ATM access at nearly 5,000 ATMs in 42 states, Puerto Rico, and District of Columbia through Alliance One network. Also accepts Plus Network cards for point-of-sale transactions.
• ZellecoreTechnology or IntegrationPeer-to-peer payment integration allowing members to send and receive money through the Crane Credit Union mobile banking app. No fees to use Zelle within the mobile banking app. Uses the same secure technology as Crane Credit Union accounts.
• VisacoreTechnology or IntegrationVisa debit and credit card issuing partnership. Provides Visa Signature and Platinum credit cards with cash back rewards, low rates, and worldwide acceptance. School Spirit Debit Card program also operates on Visa network.
• TruStage Insurance AgencyminorGTM or Marketing PartnerExclusive discounts on TruStage auto insurance for Crane Credit Union members. Part of member benefits package promoting affordable insurance products through credit union channel.
• Local Schools (20+)coreGTM or Marketing PartnerSchool Spirit Debit Card program partners with over 20 local schools including Bloomfield, Linton-Stockton, North Daviess, North Lawrence Community Schools, Owen Valley, Pike County, and others. Schools receive donations for every card purchase made by participating members.
• Regional Auto DealersminorChannel Partner/ Reseller/ DistributorIndirect lending partnerships with dozens of regional car dealerships for on-the-spot auto financing. Members can request Crane Credit Union financing at participating dealerships.

Scale indicators7 records

Recent moves11 records

Expansion highlights6 records

Direct peers

• Beacon Credit Union: Indiana community credit union with multi-branch presence across rural and suburban Indiana counties; directly comparable in field-of-membership strategy and consumer banking product set.
• Members Source Credit Union: Indiana community credit union with consumer banking and lending focus; comparable regional footprint and product mix with similar member demographic targeting.
• Purdue Federal Credit Union: Indiana-chartered credit union with multi-branch footprint and full consumer/business banking suite; comparable institution operating under similar state regulatory framework with overlapping Indiana geography.
• Elements Financial Federal Credit Union: Indiana-headquartered credit union offering personal banking, business banking, mortgages, and wealth advisory; comparable scale and product breadth with similar community-cooperative positioning.
• Teachers Credit Union (TCU): Indiana's largest credit union serving members across the state with full personal/business banking, lending, and wealth services; represents a scaled-up version of Crane's regional community CU model.
• Forum Credit Union: Indiana-based community credit union serving the Indianapolis metro area with comparable member-owned cooperative model, personal/business banking, and mortgage focus; closest direct analog by geography, size, and product mix.
• Financial Center First Credit Union: Indianapolis-based credit union offering consumer, business, and mortgage lending; comparable mid-sized Indiana community CU with similar member-owned operating model.

Broad incumbents

• Old National Bank: Major Indiana-headquartered commercial bank with extensive southwestern Indiana branch presence; competes directly with Crane for deposits and loans in the same geography but operates as a for-profit institution.
• Navy Federal Credit Union: Largest military-affiliated credit union in the U.S.; shares Crane's naval-base heritage and federal-employee member focus but operates at vastly larger scale with national digital capabilities.
• Fifth Third Bank: Large regional bank with significant Indiana branch network including southwestern markets; competes for the same consumer and small business customers as Crane but with broader product suite and digital scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/cranecu
• Instagraminstagram.com/cranecreditunion
• Xx.com/CraneCUTweets

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 Crane Credit Union