WEPCO Federal Credit Union

What WEPCO Federal Credit Union does

WEPCO Federal Credit Union is a federally chartered, member-owned, not-for-profit financial cooperative founded April 24, 1950 in Westernport, Maryland (originally as Local 676 UPA Federal Credit Union, renamed WEPCO in 1963 after the West Virginia Pulp & Paper Company). It operates six full-service branches and seven ATMs across five rural counties — Allegany and Garrett in Maryland and Mineral, Preston, and Tucker in West Virginia — serving more than 42,000 members with assets over $397 million as of the most recent annual disclosures. WEPCO's field of membership is community-based (residency, employment, worship, or school attendance in the service area) and includes former employees of Verso Corporation (formerly West Virginia Pulp & Paper Company) following the 2019 Luke, MD mill closure.

The credit union's core technology stack rests on the PAL Plus online banking platform paired with the WEPCO Mobile app (iOS and Android), supporting remote deposit capture, Card Manager (toggle, travel notes, merchant blocking, virtual cards, alerts), Qwik Draft Bill Payer with person-to-person and FI-to-FI transfers, and a Money Manager PFM tool. Members access accounts via branded Mastercard debit cards with contactless/EMV capability, Apple Pay / Google Pay / Samsung Pay digital wallets, and the Western Maryland ATM Connection surcharge-free network plus Pulse/Mastercard global ATM reach. Lending products — new/used/RV/boat/ATV vehicle loans (up to 125% LTV, 2.49%+ APR), fixed and balloon mortgages, HELOC, signature loans, WEPCOLine of Credit, Share Pledge loans, and Visa credit/business cards via Elan Financial Services — are paired with value-added protection products (GAP, Debt Shield, Mechanical Repair Coverage, TruStage Insurance, American Income Life, CARFAX, Skip-a-Pay). Reward-based deposit products are licensed through Kasasa (Cash 4.00% APY, Cash Back 5%, Saver 2.50% APY), and student financing is delivered through Sallie Mae's Smart Option Student Loan.

WEPCO generates revenue primarily through interest income on its loan portfolio, supplemented by fee income (Courtesy Pay and NSF at $30/item, wire fees $25-$35, GAP at $575, account research at $25/hour, debit card replacement at $10). As a 501(c)(14) cooperative, surplus is returned to members via competitive deposit rates and share dividends rather than outside equity, with no parent company, no institutional shareholders, and no public listing. NCUA insures all shares up to $250,000 per depositor. WEPCO is not actively raising capital; its growth is funded through retained earnings and the July 2023 Potomac Federal Credit Union merger, which added Cumberland, MD and lifted the member base and asset total.

Name

WEPCO Federal Credit Union

Legal name

WEPCO Federal Credit Union

Website

https://wepcofcu.com

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

11–50 employees

Short description

WEPCO Federal Credit Union is a federally chartered, member-owned not-for-profit cooperative serving 42,000+ members with $397M+ in assets across five rural Maryland and West Virginia counties, offering deposit, lending, business, and digital banking products through six branches and the PAL Plus online and mobile platform.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending products
• Mortgage and home equity
• Credit union membership
• Business banking services

Headquarters

HQ city

Bloomington

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue source from lending activities including vehicle loans (up to 125% financing), mortgages, personal loans, credit cards, and business loans. Interest rates vary by credit score tier and loan type.
2. Fee Income: Various fees including Courtesy Pay ($30), overdraft fees ($30), debit card replacement ($10), wire transfers ($25-$35), safe deposit boxes ($25-$60/year), money orders ($2.50), and loan-related fees
3. Share/Dividend Activities: As a not-for-profit credit union, revenue after expenses is returned to members through higher dividend rates on savings and lower loan rates. Account service fees fund operations.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels5 records

Core offering

WEPCO Federal Credit Union is a member-owned, not-for-profit financial cooperative that provides retail banking, lending, and deposit products to individuals and small businesses across Allegany and Garrett Counties in Maryland and Mineral, Preston, and Tucker Counties in West Virginia. Its core offerings include checking and savings accounts (including Kasasa reward accounts), share certificates, IRAs, vehicle and personal loans, mortgages and home equity lines of credit, Visa and Mastercard debit and credit cards, business banking, and digital banking via the PAL Plus online platform and mobile app. The credit union also offers identity monitoring, fraud protection, insurance, and financial wellness services through partner integrations.

Product overview

WEPCO Federal Credit Union offers a comprehensive suite of financial products and services through its integrated banking platform. The core offering centers on PAL Plus Online Account Access and WEPCO Mobile App, which serve as the primary digital banking hub connecting all products. The checking portfolio includes Share Draft Checking, Kasasa Cash Checking (4.00% APY), Kasasa Cash Back Checking (5% cash back), and Kasasa Saver (2.50% APY) as reward-based accounts. Savings products encompass Share Savings, Money Market, Share Certificates (terms 12-60 months), Christmas Club, Special Purpose Savings, and Early Savers accounts for children, all supported by the Dollar Dog Kids Club children's program. Lending services include vehicle loans (new/used, RV/boat, motorcycle/ATV), signature loans, mortgages (fixed-rate, balloon, HELOC, home equity), WEPCOLine of Credit, Share Pledge Loans, and Visa/Business credit cards. The credit union provides value-added protection products including GAP, Debt Shield, Mechanical Repair Coverage, TruStage Insurance, and American Income Life benefits. Digital services include Digital Wallet (Apple Pay, Google Pay, Samsung Pay), Qwik Draft Bill Payer, Remote Deposit Capture, Money Manager, My Financial Health (credit scoring, dark web monitoring), and Card Manager. Retirement products include Traditional IRA, Roth IRA, Coverdell ESA, and SEP plans. Business services include Business Checking and Business Credit Cards. Student financing includes WEPCO Scholarships and Sallie Mae Smart Option Student Loans. WEPCO also provides fraud protection education through its comprehensive Fraud Center.

Differentiator

Problem solved

Functional benefit

Products and services

• PAL Plus Online Account Access Primary digital banking hub offering web and mobile account access, bill payment, fund transfers, eStatements, loan applications, Skip-a-Pay, and financial management tools for WEPCO members.
• Kasasa Cash Checking High-yield share draft checking account offering 4.00% APY on balances up to $15,000 with ATM withdrawal fee refunds up to $25 monthly, with no minimum deposit or monthly fees; requires monthly qualification of 12 debit card purchases and eStatement enrollment.
• Kasasa Cash Back Checking Cash-back share draft checking earning 5.00% cash back on debit card purchases up to $300 monthly (capped at $15/month, $180/year), with ATM fee refunds up to $25 monthly.
• Kasasa Saver Account High-yield savings account linked to Kasasa checking earning 2.50% APY on balances up to $50,000; automatically collects cash rewards and ATM refunds from linked Kasasa checking accounts.
• Share Draft Checking Standard checking account with no minimum deposit or balance requirements, offering free personal checks, debit card access, and Courtesy Pay up to $500; seniors 60+ with direct deposit receive free checks.
• Share Savings Account Primary savings account requiring $5 minimum deposit and balance; establishes credit union membership and voting rights for Board elections with dividends posted quarterly.
• Money Market Account Higher-yield savings requiring $2,500 minimum deposit with tiered rates from 1.00% to 2.02% APY based on balance; limited to three withdrawals/transfers per monthly statement period, dividends posted monthly.
• Share Certificates Term deposit accounts with $500 minimum deposit offering rates from 3.55% to 4.06% APY for terms from 12 to 60 months; available as regular, Traditional IRA, Roth IRA, and Coverdell ESA variants.
• New & Used Vehicle Loans Vehicle financing for new and used vehicles up to 125% of book value with terms from 24 to 84 months; rates range from 2.49% to 10.24% APR depending on vehicle year and term length.
• Recreational Vehicle & Boat Loans Financing for boats, RVs, motor homes, mobile homes, lawn equipment, farm equipment, and utility trailers up to 90% of book value with 10% down payment required; rates as low as 8.49% APR.
• 4-Wheeler & Motorcycle Loans Financing for ATVs, UTVs, and motorcycles up to 100% of MSRP or book value including tax and title; maximum term 72 months; titling required for all four-wheelers, insurance required for loans over $10,000.
• Signature Loans Unsecured personal loans up to $10,000 for any purpose with terms from 12 to 72 months; rates range from 10.00% to 13.00% APR based on term length.
• Christmas & Vacation Loans Special-purpose loans up to $10,000 with 12-month term for holiday expenses or vacation financing; rate as low as 9.00% APR.
• WEPCOLine of Credit Revolving line of credit up to $10,000 accessible via PAL Plus, mobile app, in-person, or 25 complimentary checks; optional overdraft protection setup for checking accounts, rate as low as 13.00% APR.
• Share Pledge Loan Secured loan using funds in member's share savings account as collateral at low interest rates; member continues earning dividends on pledged savings with terms up to 144 months.
• Fixed-Rate Mortgage Home mortgage for purchase, construction, refinancing, or home improvements with 10 or 15-year terms; rate adjusts weekly but will not increase during term, maximum 80% LTV of appraised value.
• Balloon Mortgage 15-year balloon mortgage with payments based on 30-year amortization; market-based rate with maximum 80% LTV, balloon payment due at end of 15-year term.
• Home Equity Fixed Rate Fixed-rate home equity loan up to 80% of appraised value less existing financing; available in 5 or 10-year terms for home improvements, debt consolidation, or major purchases.
• Home Equity Variable Rate (HELOC) Variable-rate home equity line of credit with 7-year draw/8-year payback or 10-year draw/10-year payback options; up to 80% LTV less existing financing, rate based on Prime Rate and adjusts twice yearly.
• WEPCO Mastercard Debit Card Worldwide-accepted debit Mastercard with contactless capability, Zero Fraud Liability protection, EMV chip technology, ID Theft Protection, Airport Concierge services, Extended Warranty up to 1 year, and Price Protection on purchases.
• Digital Wallet Mobile payment service allowing WEPCO debit and credit card storage in Apple Pay, Google Pay, and Samsung Pay for contactless purchases; merchants receive one-time tokens rather than card numbers for added security.
• WEPCO Mobile App Mobile banking application available for iOS and Android providing PAL Plus account access, balance viewing, transactions, transfers, Qwik Draft Bill Payer, Remote Deposit Capture, eStatements, Money Manager, and Card Manager features.
• Qwik Draft Bill Payer Online and mobile bill payment service for one-time or recurring payments to vendors, free to all checking account members; includes Pay a Person feature for email, text, or check payments and FI-to-FI transfers.
• Remote Deposit Capture Mobile check deposit feature in WEPCO Mobile app allowing members to photograph front and back of endorsed checks and submit remotely; requires enrollment and endorsement with 'Mobile Deposit Only' plus account number.
• My Financial Health Financial wellness platform with free VantageScore 3.0 credit score, dark web monitoring, personal information monitoring, subscription tracking, credit building tools, and federal student loan assistance; premium tier ($8.99/month) adds 3-bureau credit monitoring, SSN monitoring, identity theft insurance up to $1M, and data broker removal services.
• eStatements Electronic statement delivery through PAL Plus replacing paper statements; enrollment required via eStatement Application with secure access using 128-bit encryption.
• VISA Credit Card Consumer credit card offerings including All-Purpose Rewards, Cash Back, and Travel Rewards options; features EMV chips, mobile wallet capability, Zero Fraud Liability, and 24/7 Cardmember Service, issued via Elan Financial Services.
• Business Credit Cards Business credit card options including low rate, cash back, and flexible rewards with free online expense reporting, no additional employee card fees, mobile payments, and 24/7 Cardmember Service.
• Business Checking Business deposit account with no maintenance fees requiring $5 minimum deposit, available to businesses located in qualifying counties in Maryland and West Virginia; business must have Tax ID or be sole proprietor.
• Traditional IRA Individual Retirement Account with tax-deferred earnings and potential tax-deductible contributions; dividends posted quarterly, supports long-term retirement savings.
• Roth IRA Individual Retirement Account where contributions are not tax-deductible but qualified withdrawals including earnings are tax-free; supports retirement savings with tax-free growth potential.
• Coverdell Education Savings Account (ESA) Education savings account for primary and secondary education expenses of a child; contributions and earnings are tax-free when withdrawn for qualified education expenses, available until child reaches age 18.
• Simplified Employee Pension (SEP) Plan Employer retirement plan providing SEP IRA options for employees with reduced disclosure and reporting requirements compared to qualified plans; helps employers encourage employee retirement savings.
• Christmas Club Account Savings account with no minimum requirements that matures annually on October 1 with automatic transfer to checking for holiday shopping; no coupon books or scheduled deposits required.
• Special Purpose Savings Restricted savings account with member-set maturity date to help save for specific goals like vacations; early withdrawal fee applies if funds removed before maturity, no minimum deposit required.
• Early Savers Account Savings account for children ages 0-12 with enhanced rates from 0.15% to 0.40% APY based on balance tier; $5 deposit required ($10 for infants under 1 year or recently adopted), converts to Share Savings at age 13.
• Dollar Dog Kids Club Children's savings program for ages 0-12 featuring membership card, punch cards for deposits of $10+, prizes, contests, and special events; includes access to Dollar Dog Clubhouse interactive website with games and learning activities.
• Courtesy Pay Overdraft protection service added to checking accounts after 60 days in good standing; covers items up to $500 limit with $30 fee per item, alternative to returned check fees and collection agency charges.
• Card Manager WEPCO mobile app feature providing real-time card control including card on/off toggle, travel notifications, virtual card access, merchant category blocking, spending limits, real-time alerts, PIN management, and lost/stolen reporting.
• Smart Option Student Loan Student loan program in partnership with Sallie Mae for borrowers attending degree-granting institutions; members can apply through WEPCO's partnership link for Smart Option Student Loans with various repayment options.

Quantifiable outcome

• Assets over $397 million with 42,000+ members
• +3 more outcomes

Named customers4 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability10 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• TruStage InsurancecoreChannel Partner/ Reseller/ DistributorTruStage offers WEPCO members discounted rates on insurance products including accidental death and dismemberment, term and whole life, auto, home and renters, and health insurance. This partnership provides supplemental insurance options to credit union members at group rates.
• American Income Life Insurance CompanyminorChannel Partner/ Reseller/ DistributorAmerican Income Life provides WEPCO members with $3,000 Group AD&D benefit, Child Safe Kit, Family Information Guide, AILPlus Health Service Discount Program, and Legacy Will Kit at no cost. Additional supplemental insurance available through solicitation.
• Deluxe CorporationcoreChannel Partner/ Reseller/ DistributorDeluxe Corporation provides WEPCO members high-quality, affordable personal and business checks. WEPCO is partnered with Deluxe for check ordering through orderpoint.deluxe.com. No minimum orders with various designs and personalization options.
• Western Maryland ATM ConnectioncoreTechnology or IntegrationWestern Maryland ATM Connection allows WEPCO members to use ATMs at participating local credit unions (ACT 1st FCU, SECU LaVale, Romney FCU) without surcharge fees. Network includes multiple credit unions for surcharge-free access.
• Sallie MaecoreChannel Partner/ Reseller/ DistributorWEPCO partners with Sallie Mae to offer the Smart Option Student Loan for members attending degree-granting institutions. The partnership provides competitive student financing options with Sallie Mae's lending platform.
• CUNA Mutual Insurance AgencycoreChannel Partner/ Reseller/ DistributorCUNA Mutual administers WEPCO's debt protection products including Debt Shield loan-payment protection and TruStage credit life/disability insurance claims through their loan claims portal. Handles claim processing for Credit Life, Terminal Illness, Accidental Dismemberment, and Disability claims.
• Love My Credit Union RewardsminorGTM or Marketing PartnerNational credit union rewards program providing WEPCO members exclusive discounts on products and services like TurboTax and H&R Block. Part of broader credit union movement marketing initiative.
• KasasacoreTechnology or IntegrationKasasa is a brand partnership providing WEPCO's reward checking accounts (Kasasa Cash and Kasasa Cash Back) and Kasasa Saver. These products offer high APY rates (4.00% on Kasasa Cash, 5% cash back on Kasasa Cash Back) with ATM fee refunds.
• Elan Financial ServicescoreChannel Partner/ Reseller/ DistributorElan Financial Services is the creditor and issuer of WEPCO's VISA credit cards (All-Purpose Rewards, Cash Back, Travel Rewards) and business credit cards. Provides zero fraud liability and 24/7 cardmember service.
• ForeverCarminorChannel Partner/ Reseller/ DistributorForeverCar provides Mechanical Repair Coverage (MRC) for WEPCO members. Coverage includes use of any licensed repair facility, no mileage limits, customizable deductibles, 24/7 roadside assistance, and extended warranty benefits.

Scale indicators5 records

Recent moves15 records

Expansion highlights6 records

Emerging players

• Alliant Credit Union: Large US digital-friendly credit union with broad membership eligibility and competitive deposit/loan rates, putting pressure on community institutions for direct-deposit, savings, and consumer lending share.
• Connexus Credit Union: Nationwide digital-first credit union offering high-yield deposit products and consumer loans online. Competes with WEPCO for members' primary banking relationships, especially via Kasasa-equivalent reward yields, without branch overhead.
• Digital Federal Credit Union (DCU): Federally chartered digital-first credit union offering consumer banking, lending, and digital wallets nationally. Comparable product breadth to WEPCO's online/mobile stack, but with far broader geographic reach.

Broad incumbents

• Navy Federal Credit Union: The largest US credit union with a comprehensive multi-product retail and lending franchise. Sets the national benchmark for scale, technology, and rates against which community credit unions like WEPCO must compete.
• M&T Bank: Large regional commercial bank with a meaningful retail-banking footprint in Maryland and West Virginia, competing with WEPCO for deposits, loans, and small-business banking relationships across the same geographies.
• First United Bank & Trust: Regional commercial bank serving Western Maryland and West Virginia, directly overlapping WEPCO's service area with broader deposit, lending, and treasury offerings for both consumer and SMB customers.

Direct peers

• Romney Federal Credit Union: West Virginia-based community federal credit union that is part of the same surcharge-free ATM network as WEPCO (Western Maryland ATM Connection) and serves a directly comparable rural member base.
• SECU (State Employees Credit Union of Maryland): Maryland credit union participating in the Western Maryland ATM Connection, providing shared ATM access with WEPCO in the LaVale, MD corridor. Comparable community credit union with member-owned structure.
• ACT 1st Federal Credit Union: Western Maryland credit union participating in the Western Maryland ATM Connection with WEPCO. Serves a similar geographic and member base with overlapping community-credit-union positioning.

Regional players

• Cedar Point Federal Credit Union: Maryland-headquartered federal credit union operating in the broader Chesapeake region. Comparable member-owned model and federal charter, though serving different sub-markets than WEPCO.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@WEPCOFederalCreditUnion
• Facebookfacebook.com/wepcofcu
• Instagraminstagram.com/wepcofederalcreditunion
• TikToktiktok.com/@wepcofcu
• Xx.com/WepcoFCU
• LinkedInlinkedin.com/company/wepco-federal-credit-union

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

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 WEPCO Federal Credit Union