South Florida Educational FCU

What South Florida Educational FCU does

Educational Federal Credit Union (EdFed) is a federally chartered, member-owned credit cooperative serving education sector employees — including teachers, faculty, and staff of schools, colleges, and universities — across the South Florida region, headquartered in Miami. Founded in 1935, the institution operates multiple branch locations alongside the EdFed 24/SEVEN digital banking platform, a mobile app, and a member contact center, with digital wallet integration across Apple Pay, Google Pay, and Samsung Pay. Its product portfolio spans consumer lending (signature loans, auto loans, auto refinancing, home equity loans and lines of credit, mortgages via the Homebuyer Concierge Program), a rewards credit card (EdFed Rewards Visa), deposit and bill pay services, insurance referral products, the EdFed Rewards loyalty program, and financial wellness counseling delivered through a partnership with GreenPath Financial Wellness.

Revenue is generated primarily through net interest income on the loan portfolio, supplemented by credit card interchange and interest, deposit and transaction service fees, and insurance referral commissions. Pricing is not publicly disclosed on the website; instead, the credit union uses promotional cash-back offers (up to $750 on home equity products, $200 on new credit cards, $100 on auto refinance) and a 90-day deferred-payment promotion on signature loans as acquisition and cross-sell tools. GTM motion is direct-to-consumer via branches, contact center (305-270-5250 / 1-855-2EDFED8), and a multi-channel digital presence (website, email, and social platforms including Facebook, X, Instagram, YouTube, LinkedIn, and TikTok). Deposits are NCUA-insured up to $250,000 per depositor, and the institution is regulated by the National Credit Union Administration.

Name

South Florida Educational FCU

Legal name

Educational Federal Credit Union

Website

https://sfefcu.org

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Federally chartered, member-owned credit union headquartered in Miami, providing consumer banking, lending, credit card, and financial wellness services to education sector employees across South Florida through branches, digital, and mobile channels.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Student/University Credit Unions (FSABAEAJ)

akta.pro secondary industries

Credit & Debt Management (Credit Scores, Loans, Repayment) (EDAAAJAC), Financial & Consumer Literacy (Banking, Credit, Contracts) (EDAAAAAG)

Keywords

• Credit union banking
• Consumer lending
• Digital banking services
• Home equity loans
• Credit card services

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Primary revenue stream from interest charged on various loan products including auto loans, signature loans, home equity loans, and mortgages. The credit union promotes low rates and promotional cash back offers to attract borrowers.
2. Credit Card Revenue: Revenue generated from EdFed Rewards Visa Credit Card including interchange fees, interest on balances, and annual fees.
3. Service Fees: Various banking service fees as outlined in the Service Fee Schedule, including potential fees for account services, transactions, and card-related services.
4. Insurance Products: Low-cost insurance options offered through partnerships to help members safeguard their assets, generating referral/commission revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Educational Federal Credit Union (EdFed) is a federally chartered, member-owned credit union serving education sector employees in South Florida. It provides retail banking products and services including signature loans, home equity loans and lines of credit, the EdFed Rewards Visa credit card, auto refinancing, and mortgage products, supported by the EdFed 24/SEVEN digital banking platform with online/mobile access, bill pay, and digital wallet support.

Product overview

Educational Federal Credit Union (EdFed) is a single-platform credit union offering a comprehensive suite of financial products and services. The core offering centers on EdFed 24/SEVEN digital banking platform supplemented by traditional lending products including Signature Loans, Home Equity Loans/Lines of Credit, EdFed Rewards Visa Credit Cards, and Auto Financing options. Additional value-added services include EdFed Auto Advantage for vehicle purchasing, Insurance Options, the EdFed Rewards loyalty program, Financial Wellness services through GreenPath, and Digital Wallet payment capabilities. The product portfolio is designed to serve as a one-stop financial institution for members' banking, lending, and financial wellness needs.

Differentiator

Problem solved

Functional benefit

Products and services

• EdFed 24/SEVEN Digital Banking Digital banking platform providing 24/7 online and mobile account access, bill pay, loan applications, and account management for credit union members.
• Signature Loan Unsecured personal loan product offering low rates with no payments required for 90 days, available to qualified members.
• Home Equity Loan / Home Equity Line of Credit Home equity financing allowing members to access their home's equity, with cash back promotions of up to $750.
• EdFed Rewards Visa Credit Card Credit card offering $200 cash back for new account holders and a points-based rewards program redeemable for travel, merchandise, and gift cards.
• Auto Refinancing Loan Vehicle loan refinancing product offering lower payments and a $100 cash back promotion for qualified members.
• Homebuyer Concierge Program Concierge-level guidance program helping members save money when purchasing a new home by walking them through the home buying process.
• EdFed Auto Advantage Auto buying service that helps members save hundreds on new vehicle purchases through negotiated pricing.
• Insurance Options Low-cost insurance options provided through partner relationships to help members safeguard their vehicles and other assets.
• EdFed Rewards Loyalty Program Points-based rewards program allowing members to redeem points for travel, merchandise, and gift cards.
• Financial Wellness Services (GreenPath) Financial counseling and wellness services provided through a partnership with GreenPath Financial Wellness, including financial education, housing counseling, and debt management support.
• Digital Wallet Integration Mobile payment integration enabling members to make purchases using Apple Pay, Google Pay, and Samsung Pay.
• Online Bill Pay Online bill payment service enabling members to pay bills conveniently through digital banking.

Quantifiable outcome

• NCUA insurance provides up to $250,000 in deposit protection per depositor

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core.

• GreenPath Financial WellnesscoreStrategic or Co-development PartnerEdFed has partnered with GreenPath Financial Wellness to provide financial counseling and wellness services to credit union members. GreenPath offers financial education, housing counseling, and debt management services to help members achieve financial stability. This partnership enhances EdFed's value proposition by providing members access to professional financial wellness resources.
• NCUA (National Credit Union Administration)coreOthersAs a federally chartered credit union, EdFed is regulated and insured by the National Credit Union Administration (NCUA). NCUA provides federal supervision and insures member deposits up to $250,000 through the National Credit Union Share Insurance Fund.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• SchoolsFirst Federal Credit Union: California-based federally chartered credit union serving school employees and the education community. Direct peer given its parallel mission of providing banking and lending services exclusively to education-sector members, with a similar member-owned cooperative structure and product mix.
• Patelco Credit Union: Northern California credit union historically rooted in serving education employees. Comparable to EdFed as a member-owned cooperative with deep ties to the education sector, offering similar lending, deposit, and digital banking products to a defined employment community.

Regional players

• VyStar Credit Union: One of the largest credit unions in Florida with a Jacksonville headquarters and statewide presence. Comparable as a Florida-based credit union competitor with overlapping lending, deposit, and digital banking products, though it serves a broader membership beyond the education sector.
• Suncoast Credit Union: Large Florida-based credit union with roots in the education community and statewide branches. Comparable as a Florida regional competitor offering similar consumer lending, mortgage, and digital banking products with a partially overlapping education-sector heritage.
• Grow Financial Federal Credit Union: Tampa-based federally chartered credit union serving the Tampa Bay area and beyond. Comparable as a Florida credit union peer with similar product portfolio (auto loans, mortgages, credit cards, digital banking) competing for overlapping consumer members.
• Space Coast Credit Union: Florida-based credit union headquartered on the Space Coast with branches across the state. Comparable as a regional Florida competitor offering similar deposit, lending, and digital banking products to consumer and education-adjacent members.
• Tropical Financial Credit Union: South Florida-based credit union serving the Miami-Dade and Broward region. Closest geographic peer to EdFed, with directly overlapping branch territories and a similar consumer/member lending focus competing for the same regional deposit and loan market.

Broad incumbents

• Alliant Credit Union: National digital-first credit union with a broad membership charter. Comparable as a large-scale credit union competitor offering digital banking, lending, and credit card products with significantly greater scale and technology investment capacity than EdFed.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights6 records

Customer concentration

• Xx.com/sfefcu
• YouTubeyoutube.com/channel/UCs_teGeV0Z9bMSjcwX3qTxw
• Facebookfacebook.com/sfefcu
• LinkedInlinkedin.com/company/south-florida-educational-federal-credit-union
• Instagraminstagram.com/edfedcu
• TikToktiktok.com/@edfedcu

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 South Florida Educational FCU