Vermont State Employees Credit Union

What Vermont State Employees Credit Union does

EastRise Credit Union (formerly Vermont State Employees Credit Union, VSECU) is a not-for-profit, member-owned financial cooperative headquartered in Montpelier, Vermont, founded in 1951 to serve Vermont state employees and subsequently chartered to serve the broader Vermont community. Operating with 101-250 employees and federally insured by the NCUA (NMLS #446767), the institution provides a comprehensive suite of financial products organized across four pillars: Personal Banking (checking, savings, money market up to 4.50% APY, certificates, Visa cards, auto loans at 4.85% APR, personal/green/home fuel loans, home equity, mortgages at 6.162% APR, insurance, and estate planning); Business Banking (business checking/savings/money market, SEP IRA, IOLTA/IORTA trust accounts, business credit cards and lines of credit, small business/working capital/equipment/real estate/solar loans, and cash management); Investment & Retirement Services (LPL-distributed advisory, IRAs, education savings); and Financial Advisory (wellness checkups, free one-on-one counseling, financial education, webinars, and a 400+ article blog).\n\nThe institution operates a multi-channel distribution model comprising physical branches and ATMs across Vermont, native iOS/Android mobile banking applications, an online banking portal, a phone contact center (800.400.8790), and online appointment scheduling with mortgage and business loan officers. Core technology is described as standard mobile and web banking platforms with no disclosed proprietary AI or data-asset capabilities. Revenue mechanics follow the standard credit union net interest margin model — earning the spread between deposit rates (e.g., money market APY up to 4.50%) and loan rates (auto 4.85% APR, mortgage 6.162% APR), supplemented by interchange, service fees, and investment advisory fees from the LPL partnership.\n\nThe institution's strategic positioning emphasizes community-rooted local decision-making, sustainability-themed lending (green loans, business solar loans, home fuel loan, fuel buying program), and free financial counseling as differentiators against larger national banks and digital-only entrants. Its customer base is concentrated in Vermont and the surrounding Northeast, targeting individual consumers, small-to-medium businesses, homeowners and homebuyers, and members seeking wealth management. The 2024 rebrand from VSECU to EastRise signals an evolution from a single-employer credit union to a community-charter identity while preserving the cooperative, member-owned governance structure with no external shareholders or parent company.

Name

Vermont State Employees Credit Union

Legal name

EastRise Credit Union

Website

https://vsecu.com

Company type

Private

Founded year

1951

Operating status

Operating

Headcount range

101–250 employees

Short description

EastRise Credit Union (formerly Vermont State Employees Credit Union) is a not-for-profit, member-owned cooperative providing personal banking, mortgages, business lending, and investment services to Vermont residents and small businesses via branches, mobile, and online channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Montpelier

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Pricing tiers

Distribution channels5 records

Marketing channels4 records

Core offering

Vermont State Employees Credit Union (dba EastRise Credit Union) is a member-owned, not-for-profit financial cooperative providing deposit accounts, consumer and business loans, credit cards, mortgages, investment services, and financial counseling to individuals and small/mid-sized businesses across Vermont. Services are delivered through branch locations, ATMs, web-based online banking, and native iOS/Android mobile applications.

Product overview

EastRise Credit Union (operating as Vermont State Employees Credit Union) offers a comprehensive suite of financial products organized into four main segments: Personal Banking (checking, savings, money market, certificates, credit cards, auto loans, personal loans, green loans, home equity products, and mortgages), Business Banking (checking, savings, money market, certificates, credit cards, lines of credit, various loan products including solar and equipment loans, and cash management), Investment & Retirement Services (investment advisory, financial advisors, IRAs, and education savings), and Financial Advisory (wellness checkups, counseling, and financial education). The institution differentiates through its community-driven, people-first approach, emphasizing sustainable banking practices and local Vermont roots established 75 years ago.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Accounts Personal checking account offerings for individual members to manage day-to-day banking.
• Personal Savings Accounts Personal savings accounts for individual members to accumulate funds with competitive interest rates.
• Personal Money Market Accounts Interest-earning money market accounts for individual members offering higher yields than regular savings, with advertised rates up to 4.50% APY.
• Personal Certificates (Term Deposits) Term deposit accounts for individual members offering fixed interest rates for specified periods.
• Visa Credit Card Standard Visa credit card for individual members providing revolving credit for everyday purchases.
• Visa Rewards Credit Card Visa credit card with rewards program allowing members to earn points or cash back on purchases.
• Visa Signature Credit Card Premium Visa credit card for individual members featuring enhanced benefits, travel protections, and concierge services.
• Auto Loans Consumer financing for vehicle purchases with advertised rates as low as 4.85% APR.
• Recreational Vehicle Loans Consumer financing for boats, RVs, and other recreational vehicles.
• Personal Loans Unsecured consumer loans for personal expenses, debt consolidation, or major purchases.
• Green Loans Eco-friendly consumer loan products that support sustainable purchases and environmental initiatives.
• Home Fuel Loan Personal loans designed to finance home heating fuel expenses for members.
• Insurance Products Insurance products and services made available to members through the credit union.
• Estate Planning Services Financial planning services for estate management and beneficiary designation for individual members.
• Fuel Buying Program Member program that offers discounted home heating fuel purchasing.
• Home Equity Loans and Lines of Credit Loans and revolving credit lines secured by home equity, used for major expenses or debt consolidation.
• Home Purchase Mortgages (Fixed-Rate and Adjustable) Mortgage solutions for purchasing a home, with a 30-Year Fixed-Rate Home Loan advertised at 6.162% APR.
• First-Time Homebuyer Programs Specialized mortgage programs and guidance designed for first-time homebuyers.
• Construction, Land, and Renovation Loans Home loans for building a new home, purchasing land, or funding renovation projects.
• Mortgage Refinancing Refinancing options for existing homeowners seeking better mortgage terms or rates.
• Mortgage Rate Lock Rate lock option that lets members secure an interest rate during the mortgage loan process.
• Business Checking Accounts Commercial checking accounts for businesses with various features and fee structures.
• Business Savings Accounts Savings accounts tailored for business deposits and reserve management.
• Business Money Market Accounts Business money market accounts offering competitive interest rates on higher balances.
• Business Certificates Business term deposit accounts for parking excess funds at fixed rates.
• SEP IRA (Simplified Employee Pension IRA) SEP IRA retirement plan product designed for small business retirement planning.
• IOLTA and IORTA Trust Accounts IOLTA (Interest on Lawyers' Trust Account) and IORTA (Interest on Real Estate Trust Account) programs for legal and real estate professionals.
• Business Credit Card Credit card product designed for business expenses and cash flow management.
• Business Line of Credit Revolving credit facility that provides ongoing access to business working capital.
• Small Business Loans General-purpose term loans for small business financing needs.
• Business Working Capital Loans Short-term financing for operational expenses and business cash flow management.
• Business Equity Loan Loans secured by business assets, used for expansion or investment.
• Business Machinery, Equipment, and Vehicle Loans Financing for commercial equipment, machinery, and business vehicle purchases.
• Business Real Estate and Construction Loans Loans for commercial property purchase, construction, and development.
• Business Solar Loan Specialized business financing for commercial solar energy installations.
• Business Cash Management Services for managing business cash flow, treasury, and liquidity.
• Investment Services Wealth management and investment advisory services provided to members through LPL Financial.
• Financial Advisory Services Professional financial advisory services for personalized investment and planning guidance.
• Individual Retirement Accounts (IRAs) Individual Retirement Accounts including Traditional and Roth IRA options for member retirement savings.
• Education Savings Plans Education savings plans, including 529 plans and Coverdell accounts, for member education expenses.
• Financial Wellness Checkup Assessment tools and services that evaluate a member's overall financial health.
• Financial Counseling One-on-one counseling sessions with financial professionals to address personal finance challenges, offered free to members.
• Online and Mobile Banking Digital banking platform enabling member account access via web and mobile devices, with features including account management, transfers, and bill pay.

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Bethpage Federal Credit Union: Large New York-based federal credit union serving a broad community charter with personal, business, and mortgage products. Comparable as a significantly larger but similarly structured Northeast federal credit union competing for similar consumer and SMB segments.
• Citizens Bank: Major regional bank with deep New England retail presence offering checking, savings, mortgages, and business banking. Comparable as a Northeast-based incumbent competing directly for the same Vermont consumer and SMB deposits and loans EastRise targets.
• TD Bank (TD Banknorth): Large regional bank with extensive New England branch network offering full personal, business, and mortgage products. Comparable as a major Northeast incumbent competing for the same deposit and loan relationships in Vermont.

Direct peers

• Digital Federal Credit Union (DCU): Massachusetts-headquartered, member-owned credit union offering personal banking, lending, and business services with strong digital channels. Comparable as a similarly structured New England credit union offering a comprehensive product suite and competing in overlapping geography.
• NorthCountry Federal Credit Union: Vermont-headquartered community credit union offering personal and business banking, mortgages, and member-focused financial services. Directly comparable as a fellow Vermont-chartered community credit union competing in the same geographic footprint with similar product breadth.
• Green Mountain Credit Union: Vermont-based community credit union serving individuals and businesses with deposit, lending, and digital banking products. Closely comparable as a Vermont-region community credit union with overlapping member segments and product offerings.
• Service Credit Union: New Hampshire-based community credit union serving military and broader community with full-service personal, business, and mortgage products. Comparable as a New England community credit union with similar scale (~200+ employees) and product breadth.
• Members 1st Credit Union: Pennsylvania-based community credit union offering personal, business, mortgage, and wealth management services. Comparable as a mid-sized community credit union that has expanded beyond original employer base with a similar full-service model.
• New England Federal Credit Union (NEFCU): Northeast regional credit union (now operating post-merger with Hanscom FCU) offering personal, business, and mortgage products across New England. Comparable as a similarly sized Northeast community-chartered credit union targeting consumer and SMB members with a similar product mix.

Emerging players

• Ally Bank: Leading digital-first bank offering competitive deposit rates, auto loans, and mortgages with no physical branches. Comparable as a digitally native competitor threatening EastRise's deposit and loan share, particularly among younger and rate-sensitive Vermont members.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Customer concentration

• Xx.com/vsecu
• Facebookfacebook.com/VSECU
• LinkedInlinkedin.com/company/vsecu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Vermont State Employees Credit Union