Members Heritage Credit Union US

What Members Heritage Credit Union US does

Members Heritage Credit Union is a not-for-profit, member-owned financial cooperative headquartered at 440 Park Place, Lexington, Kentucky, founded in April 1960 as the IBM (Lexington) Employees Federal Credit Union. Following a 1993 rebrand to Members Heritage Federal Credit Union and a 2015 charter expansion to anyone living, working, worshiping, attending school, or having family in 22 central and eastern Kentucky counties, the institution operates five branches (three in Lexington plus Winchester and Nicholasville) and serves over 54,000 members with $553 million in assets under a federal NCUA charter with share insurance up to $250,000 per depositor.

The product portfolio spans core retail banking (Regular Checking, Regular Savings, Money Market up to 2.50% APY, Share Certificates at 3.90-3.95% APY, Christmas Club, Traditional/Roth/Coverdell IRAs, HSAs) and a full lending suite (first mortgages, home equity loans and HELOCs up to 100% LTV, new/used auto loans from 2.49% APR, signature loans, share-secured loans, Visa credit cards from 9.75% APR, student loans, Green Loans, and business lending). Insurance distribution is operated through the wholly-owned Members Insurance Services subsidiary, covering auto, home, life, business, and pet lines. Technology is conventional credit-union infrastructure — a Malauzai-powered mobile app (com.mlauzai.DH23031), an online banking platform hosted at mhcu.financialhost.org, an MHCU Card Control app for card self-service, eStatements, mobile check deposit, and online bill pay — with loan origination routed through MeridianLink and Loanspq.

Revenue is generated primarily through net interest income on the lending book (the spread between deposit costs and loan/investment yields), supplemented by deposit-related fees (overdraft, wire transfers, account maintenance), Visa credit card interchange and interest, and insurance commissions from Members Insurance Services. The credit union runs a community-led, direct-to-consumer go-to-market motion anchored on local branch presence, K-12 financial literacy programs delivered via Cemark, free financial wellness counseling via GreenPath, local event sponsorships (United Way, charity walks, Down Syndrome awareness, American Heart Association, WKYT Chalkboard Champions), and member referrals — reflecting the "people helping people" cooperative philosophy rather than performance-marketing acquisition.

Name

Members Heritage Credit Union US

Legal name

Members Heritage Credit Union

Website

https://membersheritage.org

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

101–250 employees

Short description

Members Heritage Credit Union is a not-for-profit, member-owned financial cooperative founded in 1960, serving over 54,000 members with $553 million in assets across five branches in central Kentucky, offering deposit accounts, mortgages, consumer and business loans, Visa credit cards, and insurance products under an NCUA federal charter.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Depository Credit Intermediation (5221)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Deposit accounts
• Mortgage financing
• Credit union membership

Headquarters

HQ city

Lexington

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue from interest charged on loans including mortgages, auto loans, personal loans, HELOCs, and business loans
2. Deposit Account Fees: Fees from various deposit account services including overdraft protection, wire transfers, and account maintenance
3. Credit Card Revenue: Revenue from credit card transactions and interchange fees through Visa credit card program
4. Insurance Products: Commission revenue from insurance products offered through Members Insurance Services including auto, home, life, pet, and business insurance
5. Share Certificate and Savings Interest Spread: Revenue from spread between interest paid on deposits and interest earned on loans

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Members Heritage Credit Union is a not-for-profit, member-owned financial cooperative providing deposit accounts (checking, savings, money market, share certificates, IRAs, HSAs), consumer and commercial lending (mortgages, home equity, auto, personal, signature, share-secured, business loans), and Visa credit cards. It also offers insurance products through Members Insurance Services and digital banking tools including mobile and online platforms, bill pay, mobile check deposit, and card controls.

Product overview

Members Heritage Credit Union is a not-for-profit financial cooperative offering a comprehensive suite of banking products and services. The core offering centers on deposit accounts (checking, savings, money market, certificates, IRAs, HSAs) and lending products (mortgages, home equity, auto loans, personal loans, credit cards, business banking). The product portfolio also includes insurance products through Members Insurance Services (auto, home, life, GAP, extended warranty, debt protection), digital banking tools (online/mobile banking, card control app, eStatements, bill pay, mobile deposit), and financial education resources (counseling programs, calculators, how-to videos, scholarships). The institution operates primarily in Kentucky, serving over 54,000 members with assets of $553 million across three branch locations.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Checking Standard checking account for individual members with ATM/Visa debit card access, overdraft protection options, and round-up savings feature.
• Regular Savings Basic savings account requiring a $5 minimum balance, providing membership eligibility into the credit union.
• Money Market Accounts High-yield savings account with tiered interest rates based on balance amounts, offering competitive APYs up to 2.50%.
• Share Certificates Term deposit accounts with fixed interest rates and maturity dates, available in various terms from 91 days to 5 years. One-year APY at 3.90%.
• Christmas Club Seasonal savings account designed to help members save for holiday expenses, offering bonus interest on balances up to $2,500.
• IRAs (Individual Retirement Accounts) Tax-advantaged retirement savings accounts including Traditional, Roth, and Coverdell Educational IRAs with various term options.
• Roth IRAs Retirement account offering tax-free growth with flexible contributions and no required minimum distributions.
• HSAs (Health Savings Accounts) Tax-advantaged accounts for healthcare expenses with competitive dividend rates.
• First Mortgage Loans Home purchase financing with various mortgage options including conventional, FHA, and VA loans.
• Home Equity Loans Lump-sum loans secured by home equity with fixed interest rates, allowing borrowing from $10,000 to $250,000 without appraisal.
• HELOC (Home Equity Line of Credit) Revolving credit line secured by home equity with a 7-year draw period and 15-year repayment term, loan-to-value up to 100%.
• New Auto Loans Financing for new vehicle purchases with rates starting at 2.49% APR and terms up to 59 months.
• Used Auto Loans Financing for pre-owned vehicle purchases with competitive rates and flexible terms.
• Auto Loan Refinancing Refinancing option for existing auto loans offering lower rates, no application fees, and 100% financing.
• Indirect Lending Program Dealer-partnered auto financing program allowing purchases through participating dealerships.
• Signature Loans Unsecured personal loans with flexible terms and low interest rates based on creditworthiness.
• Share Secured Loans Secured loans using member's savings as collateral, offering lower rates for building credit.
• Visa Credit Card Credit card with rewards program earning 1 point per dollar in qualifying purchases, with rates as low as 9.75% APR (set rate) or 11.75% APR (variable).
• Green Loans Loans for environmentally-friendly purchases and improvements.
• Student Loans Financing options for educational expenses.
• Business Checking Accounts Checking accounts tailored for business needs with various features and requirements based on business type.
• Business Savings Account Savings accounts designed for business entities including sole proprietors, LLCs, corporations, and nonprofits.
• Business Lending Commercial loans and credit lines for business growth and operations.
• Auto Insurance Vehicle insurance offered through Members Insurance Services partnership.
• Homeowners/Renters Insurance Property insurance products offered through Members Insurance Services.
• Life Insurance Life insurance coverage offered through Members Insurance Services.
• GAP Insurance Guaranteed Asset Protection covering the difference between vehicle value and loan balance in case of total loss.
• Extended Warranty Vehicle service contracts providing additional coverage beyond manufacturer warranties.
• Debt Protection Credit protection service covering loan payments in cases of death, disability, or unemployment.

Quantifiable outcome

• $553 million in assets managed for over 54,000 members
• +2 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• GreenPathcoreStrategic or Co-development PartnerFinancial wellness partnership providing members with customized advice and guidance on credit card debt, credit scores, student loans, and avoiding foreclosure. GreenPath offers free financial counseling to MHCU members through the website redirect partnership.
• CemarkcoreStrategic or Co-development PartnerFinancial literacy company providing school education programs. MHCU partners with Cemark to offer Saving with Mandy and Randy for 2nd graders and Making the Right Money Moves for high school students, reaching thousands of students annually in local schools.
• TurboTax (Intuit)minorGTM or Marketing PartnerMHCU members can save 20% off TurboTax federal products through Love My Credit Union rewards program
• Love My Credit UnionminorGTM or Marketing PartnerExclusive member discount program offering savings on auto, home, entertainment, and finance products and services
• NCUA (National Credit Union Administration)coreOthersFederal regulatory agency that insures member deposits up to $250,000 through the National Credit Union Share Insurance Fund. MHCU is federally insured by NCUA.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• University of Kentucky Federal Credit Union: Lexington, KY-based community credit union serving the University of Kentucky community and surrounding area with comparable deposit, lending, and digital banking products. Most direct local competitor given overlapping geographic and member-base characteristics.
• Commonwealth Credit Union: Kentucky-based community credit union offering full retail and business banking services across multiple counties. Highly comparable in member-owned cooperative model, community focus, and product breadth relative to MHCU.
• L&N Federal Credit Union: Louisville-based community credit union serving Kentucky and Southern Indiana with similar deposit, loan, and member-service offerings. Comparable as a Kentucky-headquartered cooperative serving a defined geographic membership.
• Kentucky Employees Credit Union: Frankfort, KY-based credit union serving state employees and their families, with similar community-banking and lending products. Comparable cooperative model and Kentucky geographic focus.
• Park Community Credit Union: Louisville-headquartered community credit union serving the Kentucky region with consumer and business banking products. Comparable community-cooperative structure and Midwestern US footprint.

Broad incumbents

• Connexus Credit Union: Nationally operating community credit union with a strong digital platform and broader geographic membership. Comparable cooperative model and product suite, but at materially larger scale than MHCU.
• Alliant Credit Union: Large US digital-first credit union serving a national membership base. Comparable product breadth (deposits, lending, credit cards) and digital capabilities, though operating at substantially greater scale.

Regional players

• Stock Yards Bank & Trust: Kentucky-headquartered community bank offering consumer and business banking across the state. Competes with MHCU for retail and SMB deposits and lending within the same Kentucky footprint.
• Republic Bank & Trust Company: Kentucky-based regional bank with consumer and business banking operations across multiple states. Competitor for Kentucky household and small-business banking relationships.

Emerging players

• Ally Bank: Digital-first national bank and credit card issuer competing for deposit and consumer lending customers in Kentucky. Sets the competitive benchmark on rate, digital UX, and credit card pricing that MHCU must match.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/membersheritage
• YouTubeyoutube.com/channel/UCEEXkM2iSDAPUIvjfS4-h0w
• Facebookfacebook.com/MembersHeritage
• Instagraminstagram.com/membersheritage
• LinkedInlinkedin.com/company/membersheritage

Compliance4 records

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 Members Heritage Credit Union US