Century Federal Credit Union

Credit Union Servicescenfedcu.org

Century Federal Credit Union is a member-owned, not-for-profit federal credit union founded in 1948 and based in Independence, Ohio, serving more than 27,000 members in Northeast Ohio with deposit products, consumer and mortgage lending, cards, business banking, and digital channels.

Company typePrivate
Founded1948
HeadquartersCleveland, United States
Headcount51–100
GTM typeB2C
OfferingServices

What Century Federal Credit Union does

Century Federal Credit Union is a member-owned, not-for-profit financial cooperative founded in 1948 and headquartered in Independence, Ohio, serving more than 27,000 members across the Northeast Ohio market. Operating as a federally chartered credit union, it is regulated by the National Credit Union Administration (NCUA) with deposit insurance up to $250,000, and is structured as a cooperative governed by a volunteer board elected by the membership. Its competitive positioning rests on returning earnings to members through higher deposit rates, lower loan rates, and reduced fees relative to for-profit banks, reinforced by official sports partnerships with the Cleveland Cavaliers, Cleveland Guardians, and Cleveland Monsters.

The product set spans core retail banking (checking, savings, money market, certificates, IRAs), consumer lending (auto, motorcycle, signature, HELOC with a fixed-rate lock option, boat/RV, student, musical instrument, and payday-alternative loans), mortgages and refinancing (including FHA/VA products via a myCU Mortgage partnership and the Ohio Homebuyer Plus Program), credit and debit cards (Visa with 0% intro APR for 12 months on new accounts, MasterCard debit with Buy Now/Pay Later and Savings Jar features), and a Business Advantage suite for small commercial clients. Technology infrastructure consists of a digital banking platform with mobile and online channels, Interactive Teller Machine (ITM) hardware at the new Westlake financial center for extended-hours live-video teller service, Zelle for peer-to-peer payments, digital wallet integration, and MeridianLink for online loan origination. Distribution comprises three known physical financial centers (Independence HQ, North Olmsted, Westlake), a member service call center, 24/7 iTalk phone banking, and access to nearly 30,000 surcharge-free ATMs through the Alliance One and MoneyPass networks.

Revenue is generated primarily through interest income on the loan portfolio (mortgages, auto, HELOC, personal, credit card), net interest spread on member share deposits, and fee income (overdraft, ATM beyond free limits, wire transfers, card interchange). Pricing follows a member-friendly model: no monthly checking fees, $5 minimum membership share, tiered ATM access (free at in-network ATMs with the first four monthly transactions at Alliance One/MoneyPass free and $1.50 thereafter, waived above $2,000 combined balance or with direct deposit and e-statements), and a $250 closing-cost low-cost mortgage product. The go-to-market motion is sales-led through physical financial centers and the call center, supplemented by digital channels, community events, and Cleveland sports franchise partnerships, with member referrals and loyalty programs as bottom-of-funnel drivers.

Century Federal Credit Union firmographics

Firmographics

Name: Century Federal Credit Union
Legal name: Century Federal Credit Union
Website: https://cenfedcu.org
Company type: Private
Founded year: 1948
Operating status: Operating
Headcount range: 51–100 employees
Short description: Century Federal Credit Union is a member-owned, not-for-profit federal credit union founded in 1948 and based in Independence, Ohio, serving more than 27,000 members in Northeast Ohio with deposit products, consumer and mortgage lending, cards, business banking, and digital channels.
Ownership category
akta.pro rank

Century Federal Credit Union industry classification

Industry

Product category: Credit Union Services
NAICS: Credit Unions (522130)
SIC: Savings Institution, Federally Chartered (6035)
akta.pro primary industry: Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
akta.pro secondary industry: Employer/Occupational Credit Unions (FSABAEAB)

Keywords

Retail banking services
Consumer lending products
Credit union deposits
Mortgage financing
Small business banking

Where Century Federal Credit Union is headquartered

Location

Headquarters

HQ city: Cleveland
HQ country: United States
HQ region: North America

Offices3 records

Markets served

Century Federal Credit Union business model

Business model

GTM type: B2C
Offering type: Services
Cost components: Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

Interest Income from Loans: Primary revenue stream from interest charged on mortgage loans, auto loans, HELOCs, personal loans, credit cards, and other lending products
Share Deposits: Members deposit funds into checking, savings, money market, and certificate accounts; credit union uses these funds for lending activities
Fee Income: Various fees including overdraft protection, ATM fees for transactions beyond free limits, wire transfer fees, and other service charges
Credit Card Transaction Fees: Interchange fees from credit card transactions

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Checking Account - No monthly fee
One time/ perpetual license	Monthly	Membership Share Account - $5 minimum
Subscription	Monthly	ATM Access - Free and fee-based options
Subscription	Annual	Ohio Homebuyer Plus Savings - 7.23% APY variable rate
One time/ perpetual license	Multi-year contract	Low-Cost Mortgage - $250 closing costs
Subscription	Monthly	First-Time Auto Buyer Loan - Up to $30,000
One time/ perpetual license	Annual	Christmas Club Account - $5 to open

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Century Federal Credit Union product offering

Product offering

Core offering

Century Federal Credit Union is a member-owned, not-for-profit federal credit union that provides deposit products (checking, savings, money market, certificates, IRAs) and a full suite of consumer and small business lending products (auto, mortgage, HELOC, signature, student, boat/RV, and specialty loans) along with credit and debit cards. It serves more than 27,000 members across Northeast Ohio via physical financial centers, a digital/mobile banking platform, an Interactive Teller Machine (ITM) network, and a call center.

Product overview

Century Federal Credit Union operates as a community-focused credit union offering a comprehensive suite of financial products and services organized into four main categories: (1) Checking & Savings products including Checking, Savings, Money Market, Certificates, and IRA accounts; (2) Lending & Loans covering Auto & Motorcycle loans (including a First-Time Auto Buyer Program), Mortgages and refinancing (including Ohio Homebuyer Plus Program, FHA, VA products via partnership with myCU Mortgage), Home Equity Line of Credit with fixed rate lock option, Signature Loans, Boat & RV loans, Student Loans, Musical Instrument Loans, and specialty products like PayDay Alternative Loan and Hardship Assistance Program; (3) Cards including Credit Cards (with 0% Intro APR for 12 months) and Debit Cards (with Buy Now/Pay Later and Savings Jar features); (4) Business Solutions through Business Advantage. Member Resources encompass Digital Banking, Digital Wallet, Zelle payments, insurance, financial planning, calculators, and financial literacy tools (Zogo). The credit union emphasizes digital banking convenience with nearly 30,000 surcharge-free ATM locations via Alliance One and MoneyPass networks, online and mobile banking, and an ITM (Interactive Teller Machine) network.

Differentiator

Problem solved

Functional benefit

Products and services

Checking & Savings Accounts Core deposit products including Checking, Savings, Money Market, Certificates, and IRA accounts with various rate structures and balance requirements for credit union members.
Auto & Motorcycle Loans Vehicle financing for new and used automobiles and motorcycles with competitive rates and flexible terms for members.
First-Time Auto Buyer Program Specialized auto loan program for members without prior auto loan history, featuring no down payment, no co-signer required, and 60-day deferred payment option. Borrow up to $30,000 for vehicles up to 10 years old with up to 100,000 miles.
Mortgages and Refinancing Home purchase and refinance financing including Fixed-Rate Mortgages, Adjustable-Rate Mortgages, Low-Cost Mortgages with $250 closing costs, and FHA/VA loans through the myCU Mortgage partnership.
Ohio Homebuyer Plus Savings State of Ohio program offered through participating financial institutions allowing homebuyers to earn 7.23% APY on savings for down payment or closing costs. Requires Ohio residency, minimum $500 balance, maximum $100,000 balance, and funds must be used within five years.
Home Equity Line of Credit (HELOC)
Signature Loans
Credit Cards
Debit Cards
Business Advantage
Boat & RV Loans
Student Loans
Musical Instrument Loans
PayDay Alternative Loan
Digital Banking

Companies that use Century Federal Credit Union

Customer profile

Segments6 records

Ideal customer profiles4 records

Century Federal Credit Union technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Century Federal Credit Union partnerships and signals

Strategic signal

Partnerships

Seven partnerships are on record, tiered core and flagship.

myCU Mortgage (myCUMortgage)coreStrategic or Co-development PartnerCentury Federal has partnered with myCU Mortgage to offer VA and FHA loans to veterans and members seeking more affordable home loan options. The partnership provides access to government-backed mortgage products with down payments as low as 3.5% of current market value.
Ohio Treasurer's Office - Ohio Homebuyer Plus ProgramcoreStrategic or Co-development PartnerCentury Federal participates in the Ohio Homebuyer Plus Program administered by the Ohio Treasurer's Office, offering Ohio residents enhanced interest savings accounts (7.23% APY) to save for home down payments and closing costs. The program provides tax deductions up to $5,000 per person annually ($10,000 for married couples).
Cleveland CavaliersflagshipGTM or Marketing PartnerCentury Federal is the Official Credit Union of the Cleveland Cavaliers, a flagship partnership reflecting the credit union's commitment to Cleveland and its communities. The partnership includes local events, member experiences, and youth and community programs.
Cleveland MonsterscoreGTM or Marketing PartnerCentury Federal is the Official Credit Union of the Cleveland Monsters (AHL hockey team), expanding community reach through local events and member experiences.
Cleveland GuardiansflagshipGTM or Marketing PartnerCentury Federal is the Official Credit Union of the Cleveland Guardians (MLB baseball team), a partnership that reflects shared commitment to Cleveland, its people, neighborhoods, and future. The partnership includes local events, member experiences, and community programs.
Alliance One ATM NetworkcoreOthersAlliance One ATM network partnership provides members with surcharge-free transactions at Alliance One ATMs, with first 4 monthly transactions free.
MoneyPass ATM NetworkcoreOthersMoneyPass ATM network partnership provides members with surcharge-free transactions at MoneyPass ATMs, with first 4 monthly transactions free.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Century Federal Credit Union competitors and assessment

Company assessment

Direct peers

FirstEnergy Credit Union: Ohio-based community credit union serving employees of select employer groups, headquartered in the same region. Directly comparable as a small, member-owned, employer-tied Ohio credit union offering deposit and consumer lending products.
Kemba Financial Credit Union: Ohio-based community credit union offering checking, savings, mortgages, auto loans, and business banking. Closely comparable in product mix, member-owned structure, and Ohio regional focus.

Regional players

Wright-Patt Credit Union: Ohio-headquartered federal credit union with a multi-branch footprint across the state. Comparable business model (federal credit union, deposit-funded consumer and mortgage lending) though materially larger, making it a useful same-market scale benchmark.
SchoolsFirst Federal Credit Union: Large federally chartered, SEG-based credit union serving a defined employment community in California. Comparable in SEG-driven membership model, federal charter, and broad product suite, though much larger.
Lake Michigan Credit Union: Michigan-based community credit union with a large branch and digital footprint. Comparable as a community-focused, federally insured credit union competing against regional banks on rate, fees, and service.
PSECU (Pennsylvania State Employees Credit Union): Federally insured, member-owned credit union serving a defined employment/affiliation community. Comparable SEG-style membership model, federal charter, and full suite of consumer deposit and lending products.

Emerging players

Connexus Credit Union: Federally chartered credit union that has built a strong national digital membership base while maintaining community roots. Comparable as a modernizing community credit union investing in digital channels and a broad consumer-lending product set.
Kinecta Federal Credit Union: Federally chartered community credit union offering consumer lending, mortgages, and business banking. Comparable as a member-owned federal credit union with a multi-product strategy and a mix of branch and digital channels.

Broad incumbents

Alliant Credit Union: Large US digital-first credit union offering checking, savings, mortgages, auto loans, and credit cards nationwide. Comparable in product breadth and credit-union model, but operates at much greater scale and with a national digital distribution model.
Digital Federal Credit Union (DCU): Large federally chartered, member-owned credit union offering full-service consumer and business banking with a strong digital channel. Comparable as a federally chartered credit union with a similarly broad product set including business banking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

Century Federal Credit Union compliance and trust

Trust signal

Compliance3 records

Century Federal Credit Union financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Century Federal Credit Union leadership team

Management profile

Number of profiles

Profiles1 record

Century Federal Credit Union funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Century Federal Credit Union M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Century Federal Credit Union

What does Century Federal Credit Union do?

Is Century Federal Credit Union a public or private company?

Century Federal Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.

When was Century Federal Credit Union founded?

Century Federal Credit Union was founded in 1948. It employs 51 to 100 people.

Where is Century Federal Credit Union based?

Century Federal Credit Union is headquartered in Cleveland, United States, in the North America region.

How does Century Federal Credit Union make money?

Four revenue lines are on record. Interest Income from Loans are the primary driver. The others are share Deposits, fee Income and credit Card Transaction Fees.

Who are Century Federal Credit Union's main competitors?

Direct peers on record are FirstEnergy Credit Union and Kemba Financial Credit Union. Regional players are Wright-Patt Credit Union, SchoolsFirst Federal Credit Union, Lake Michigan Credit Union and PSECU (Pennsylvania State Employees Credit Union). Emerging players are Connexus Credit Union and Kinecta Federal Credit Union. Broad incumbents are Alliant Credit Union and Digital Federal Credit Union (DCU).

Does Century Federal Credit Union have an API?

No public API is recorded for Century Federal Credit Union.

What industry is Century Federal Credit Union in?

Century Federal Credit Union's product category is Credit Union Services. Its primary akta.pro industry code is FSABAEAA, Community Credit Unions (Retail/Consumer Focus), with a secondary code of FSABAEAB, Employer/Occupational Credit Unions. Its NAICS code is 522130 and its SIC code is 6035.