Frankenmuth Credit Union

What Frankenmuth Credit Union does

Frankenmuth Credit Union (FCU) is a federally chartered, member-owned, not-for-profit credit union founded in 1964 and headquartered in Frankenmuth, Michigan. It operates 32+ physical branches and 25+ Interactive Teller Machines across Michigan, supported by a comprehensive digital banking platform comprising a mobile app (iOS and Android), online banking portal, and a CO-OP network providing access to nearly 30,000 surcharge-free ATMs nationwide. FCU serves individual consumers, small businesses, youth and student segments, and a specialized licensed cannabis business vertical in Michigan through its Envy Cannabis Banking Program (launched February 2026 with Lüt Reserve).

The product portfolio spans Kasasa reward checking accounts (notably Kasasa Cash at 6.20% APY on balances up to $15,000 and Kasasa Cash Back at 5.00%), tiered savings (Plus Savings up to 2.90% APY), certificates of deposit (11-month CD up to 3.65% APY), and a full lending suite including auto loans (starting 4.48% APR), the Be Happy personal loan, RV/boat/motorcycle/ATV loans, mortgages, home equity, student loans, and business loans. Credit card offerings include the Diamond Mastercard with 2% unlimited cash back, Simply Platinum, and Business Platinum. The digital ecosystem integrates InvestiFi self-directed investing (stocks/ETFs with fractional shares), AdvisiFi-powered Guided Investing at 0.50% annual AUM, a cryptocurrency trading portal, trust services, insurance products through My Member Insurance Agency, and a 24/7 AI chatbot named Carl for member support.

FCU generates revenue primarily through interest income on its loan portfolio (auto, mortgage, personal, credit card, home equity), interest income on deposits, account and transaction fees (overdraft, wire, early CD withdrawal, maintenance), securities and investment advisory fees through the InvestiFi/AdvisiFi partnership, and affiliate referral income from insurance and ancillary products. The credit union's go-to-market is direct-to-consumer through its physical branch and ITM network, digital self-serve channels, and a community-based acquisition model that includes school branches at local Michigan high schools. It is federally insured by the NCUA, certified under the Fair Housing Law and Equal Credit Opportunity Act, and recognized as a Forbes Best Michigan Credit Union (2020).

Name

Frankenmuth Credit Union

Legal name

Frankenmuth Credit Union

Website

https://frankenmuthcu.org

Company type

Private

Founded year

1964

Operating status

Operating

Headcount range

251–500 employees

Short description

Frankenmuth Credit Union is a member-owned, federally insured Michigan credit union operating 32+ branches and ITMs, offering consumer, small business, and cannabis banking products including Kasasa reward checking, loans, Mastercard credit cards, self-directed investing, and trust and insurance services.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Finance Services (6199)

akta.pro primary industry

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

akta.pro secondary industries

General Purpose Credit Cards (FSAKABAA), Digital Gift Cards, Vouchers & Stored-Value (Crypto) (FSADAIAN)

Keywords

• Retail banking services
• Consumer lending
• Digital credit union
• Commercial banking
• Cannabis banking

Headquarters

HQ city

Frankenmuth

HQ country

United States

HQ region

North America

Offices33 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue stream from interest charged on various loan products including auto loans, mortgages, personal loans, RV/boat loans, home equity lines of credit, and credit cards. Rates vary by product type and creditworthiness.
2. Interest Income from Credit Products: Revenue from interest on credit card balances and home equity credit products.
3. Securities Trading and Investment Services: Revenue from securities brokerage services through InvestiFi partnership, including Guided Investing advisory fees (0.50% annual asset-based fee) and SEC trading fees on sell orders.
4. Account and Transaction Fees: Various fees including monthly maintenance fees for certain accounts, overdraft fees, ATM fees, wire transfer fees, early CD withdrawal penalties, and credit card fees.
5. Insurance Products: Revenue from insurance products and services through My Member Insurance Agency partnership, providing auto, home, pet, and life insurance products to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

Frankenmuth Credit Union is a member-owned, federally insured credit union delivering full-service retail and commercial banking to individuals, families, small businesses, and licensed cannabis operators across Michigan through 32+ branches, ITM video tellers, a mobile and online banking platform, and dedicated business services. Core offerings include reward checking and savings (Kasasa Cash, Cash Back, Saver, Eats, Play), CDs, money market and HSA accounts, consumer loans (auto, personal, RV/boat/motorcycle/ATV, mortgage, home equity, student), Mastercard credit cards, an InvestiFi self-directed investment and Guided Investing portal, trust services, and insurance through My Member Insurance Agency. Specialized offerings include the Envy cannabis banking program via the Lütf Reserve closed-loop payment platform.

Product overview

Frankenmuth Credit Union operates as a full-service financial institution offering a comprehensive product portfolio organized around core banking services. The main product categories include: (1) Checking/Savings accounts led by Kasasa reward checking products (Kasasa Cash at 6.20% APY, Kasasa Cash Back, Kasasa Eats, Kasasa Play) and Kasasa Saver savings; (2) Certificate of Deposit products including 11 Month CD Special (up to 3.65% APY) and 21 Month CD; (3) Loan products spanning auto loans (starting 4.48% APR), personal loans (Be Happy Loan), RV/boat/motorcycle/ATV loans, home equity products, student loans, and business loans; (4) Credit cards including Diamond Mastercard (2% cash back), Simply Platinum, and Business Platinum; (5) Digital banking platform via Mobile App/Online Banking with integrated investment services through InvestiFi Self-Directed Investment Portal and cryptocurrency trading; (6) Trust and insurance services including Credit Union Trust, My Member Insurance Agency, and pet insurance. The digital ecosystem includes Chatbot Carl for 24/7 support, CardNav card controls, Early Payday ACH on-demand, and Virtual Financial Coach. Specialized programs include the Envy Cannabis Banking program for Michigan cannabis businesses via Lüt Reserve partnership, and business services including AutoBooks-Accounting integration. Youth products include Birdie Account, Teen Checking-My Way, and Teen TLT Saver. The platform is complemented by VIP Points rewards, Scorecard Rewards, Debit Round Up, and Net Worth Coach powered by Banzai.

Differentiator

Problem solved

Functional benefit

Brands

• FCU: Common abbreviation used for Frankenmuth Credit Union in branding and communications
• Envy Cannabis Banking Program
• Kasasa
• InvestiFi
• CUTrust
• My Member Insurance Agency
• FCU Foundation
• Pocketnest
• Lüt Reserve
• Chatbot Carl
• School Branches

Products and services

• Kasasa Cash Checking High-yield reward checking account earning 6.20% APY on balances up to $15,000 when members meet monthly qualifications (e-statements, 15+ debit card purchases of $5+, one ACH payment/deposit).
• Kasasa Cash Back Checking Checking account earning 5.00% cash back on up to $200 in debit card purchases monthly (max $10 per cycle) when qualifications are met.
• Kasasa Eats Checking Reward checking account earning 5.00% cash back on first $200 in select grocery and food delivery debit card purchases each month.
• Kasasa Play Checking Reward checking account providing refund of up to $10 monthly on music, video, gaming, and select monthly subscription services.
• Kasasa Saver High-yield savings account linked to a Kasasa Cash or Cash Back checking, earning 3.00% APY on balances up to $50,000 with automatic monthly transfer of rewards.
• Plus Savings Tiered savings account paying 2.34% to 2.90% APY depending on balance, with $500 minimum opening and no monthly service fee; fully liquid.
• Mega Money Market Tiered money market account with $10,000 minimum opening and rates from 1.35% to 2.85% APY based on balance tier.
• All-In High Yield Savings Liquid savings account paying 1.00% APY with full fund access at any time.
• 11 Month CD Special Certificate of deposit earning 3.15% APY with $500 minimum, with premium tier up to 3.65% APY for $250,000+ deposits; VIP members receive a 0.25% bonus.
• 21 Month CD Certificate of deposit with tiered APY up to 3.75% APY on $250,000+ deposits; standard minimum $500.
• IRA Accounts Tax-advantaged retirement accounts in Traditional, Roth, and Coverdell ESA variants, available in savings or CD options.
• Health Savings Account (HSA) Tax-advantaged health savings checking account for members with high-deductible health plans, earning up to 0.30% APY.
• Birdie Account (Youth Saver) Savings account for members 12 and under designed to foster early financial literacy.
• Teen Checking-My Way Checking account for teenagers with educational money management features.
• Teen TLT Saver Savings account for members ages 13-17 designed to teach responsible savings habits.
• Diamond Mastercard Credit card offering unlimited 2% cash back on all purchases with 6.9% APR balance transfer promotion, no annual fee.
• Simply Platinum Mastercard Mastercard credit card earning points on every purchase redeemable for rewards, with 6.9% APR balance transfer promotion for credit scores 636+.
• Business Platinum Mastercard Business credit card with competitive rate earning points per purchase for travel, merchandise, or cash; rate tied to Prime + 5.00% (floor 8.00% APR).
• Auto Loan Auto loans starting at 4.48% APR for 48-month terms on 2019 or newer vehicles, with a 90 Days No Pay option available.
• Be Happy Personal Loan Personal loan starting at 9.92% APR for 24-month terms with first payment deferred up to 90 days (interest accrues).
• Home Equity Line of Credit (HELOC) Home equity credit card with variable APR from 6.75% (Prime, less than 80% LTV) up to 8.90% APR (greater than 80% LTV).
• RV Loan Recreational vehicle loan starting at 7.07% APR with 90 Days No Pay option.
• Boat Loan Marine boat loan with 90 Days No Pay option available.
• Motorcycle Loan Motorcycle loan with 90 Days No Pay option available.
• ATV/4 Wheeler Loan All-terrain vehicle loan with 90 Days No Pay option available.
• Home Improvement Loan Loan financing for home renovation projects at competitive rates.
• Lawn-Garden Loan Loan product for tractors, lawn equipment, and garden improvements.
• Student Loans Student loan products including refinancing options at rates as low as 7.10% APR.
• Mobile App and Online Banking Comprehensive digital banking platform with iOS and Android apps, offering account management, mobile deposit, card controls, and investment portal access.
• Chatbot Carl AI-powered chatbot available 24/7 for member inquiries and support, with the ability to escalate to a live call center agent on request.
• InvestiFi Self-Directed Investment Portal Self-directed investment platform integrated within FCU Consumer App and Online Banking enabling members to buy, sell, and hold stocks and ETFs with fractional investing starting at $1.00, zero commission trades, and near real-time funding from FCU checking.
• Guided Investing (AdvisiFi) Automated portfolio management service by AdvisiFi that recommends and manages diversified portfolios based on risk tolerance, with quarterly rebalancing and a 0.50% annual asset-based fee.
• Cryptocurrency Portal Digital currency trading and investment platform accessible through FCU Online Banking for members who opt in.
• Credit Union Trust (Trust Services) Trust services including wills, estate planning, and trust fund management for individual members.
• My Member Insurance Agency Insurance agency offering auto, home, pet, and life insurance products with member discounts.
• Pet Insurance Pet insurance offering discounted rates available to FCU members through My Member Insurance Agency.
• Envy Cannabis Banking Program Specialized banking program for licensed cannabis businesses in Michigan offering compliant cashless payment solutions, integrated with the Lütf Reserve closed-loop payment platform.
• Biz Services (Business Banking Suite) Business banking suite including Biz Checking, Biz Savings, and Biz Loans, with a dedicated business mobile app on iOS and Android and dedicated business support.
• Early Payday (ACH On-Demand) ACH on-demand service allowing members to receive payroll direct deposits up to three days early.
• Daily Spend Card Reloadable Visa spend card with $5,000 maximum load, loadable into Apple Pay or Google Pay, available with $3.95 monthly fee.
• Visa Gift Cards Prepaid Visa gift cards available at branches, $10-$1,000 limit, cost 1,200 VIP points or $5.00.
• Save to Win Prize-linked savings product offering 3.00% APY CD or 2.25% APY savings with chances to win periodic cash prizes.
• AutoBooks Accounting Integration Business accounting software integration available to FCU business members for cash flow, bookkeeping, and reconciliation.

Quantifiable outcome

• 6.20% APY on Kasasa Cash checking balances up to $15,000
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

AI capability2 records

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• LütcoreTechnology or Integration · 10 February 2026Strategic partnership with Lüt to offer Lüt Reserve closed-loop payment platform as part of Frankenmuth Credit Union's Envy cannabis banking program. The platform enables licensed cannabis businesses in Michigan to accept digital payments outside traditional card networks, offering faster settlement, reduced cash handling, and real-time payments while maintaining regulatory compliance. The partnership also activates Lüt's Ambassador Plus program to drive consumer adoption at point of sale.
• MastercardcoreTechnology or IntegrationCredit card issuing partnership providing Diamond, Simply Platinum, and True Business Mastercard credit cards with cash back rewards, balance transfer options, and Mastercard benefits including Click to Pay and EMV security.
• InvestiFi SecuritiescoreTechnology or IntegrationPartnership providing self-directed investment platform enabling members to buy, sell, and hold stocks and ETFs within FCU's digital banking channels. Includes Guided Investing managed portfolio service.
• RQD Clearing LLCcoreTechnology or IntegrationSEC-registered broker-dealer and member of FINRA/SIPC providing custody services for investment accounts and trade execution through InvestiFi platform.
• AdvisiFicoreTechnology or IntegrationSEC-registered investment advisor providing Guided Investing automated portfolio management service with risk tolerance assessment and quarterly rebalancing.
• CO-OP Credit Union NetworkcoreChannel Partner/ Reseller/ DistributorPartnership providing access to nearly 30,000 surcharge-free ATMs nationwide for FCU members through the CO-OP ATM network.
• KasasacoreTechnology or IntegrationRewards checking program partnership providing Kasasa Cash, Kasasa Cash Back, Kasasa Eats, Kasasa Play, and Kasasa Saver products with competitive APY rates and cash back rewards.
• My Member Insurance AgencyminorChannel Partner/ Reseller/ DistributorInsurance partnership offering auto, home, pet, and life insurance products to FCU members with discounted rates.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Lake Michigan Credit Union: One of the largest Michigan-based credit unions with extensive branch coverage across western Michigan. Directly comparable to FCU in community-based membership model, full-service banking, and Michigan geographic focus.
• Genisys Credit Union: Michigan-headquartered community credit union serving Oakland County and surrounding areas. Comparable member-owned community model with similar deposit, loan, and digital product offerings.
• MSU Federal Credit Union: Large Michigan-based credit union affiliated with Michigan State University with statewide field-of-membership. Comparable business model focused on consumer banking, lending, and digital channels.
• Michigan First Credit Union: Michigan-based community credit union with multi-county branch network in southeast Michigan. Directly comparable scope, membership model, and product mix to FCU.
• Security Credit Union: Michigan-headquartered community credit union serving members across the state. Comparable community-banking focus with branches, digital channels, and standard deposit/loan products.

Regional players

• Consumers Cooperative Credit Union: Midwest community credit union with similar member-owned model and full-service banking. Operates in a comparable regional scope rather than directly overlapping FCU's Michigan territory.
• Consumers Credit Union: Wisconsin-based community credit union with comparable member-owned model and emphasis on high-yield checking products (Free Rewards Checking). Similar product positioning to FCU's Kasasa offerings but different geography.

Broad incumbents

• DFCU Financial: Michigan-headquartered broad financial institution offering consumer and business banking across the state. Larger scale than FCU but operates in the same Michigan market with overlapping member bases.
• Alliant Credit Union: Large digital-first credit union serving members nationwide. Comparable member-owned model and full product offering, but with much broader geographic scope and greater scale than FCU.
• BECU: One of the largest U.S. community credit unions with full-service banking and digital focus. Comparable cooperative model and product breadth but operates primarily in the Pacific Northwest rather than Michigan.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/frankenmuthcu
• LinkedInlinkedin.com/company/frankenmuth-credit-union

Compliance4 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 Frankenmuth Credit Union