Casco Federal Credit Union

What Casco Federal Credit Union does

Casco Federal Credit Union is a not-for-profit, NCUA-insured member-owned cooperative headquartered at 393 Ossipee Trail East in Gorham, Maine, serving members across Cumberland and York County since 1954 under the "People Helping People" brand. Membership eligibility is defined geographically — by living, working, attending school, or worshipping in those two Maine counties, or through family relation to an eligible person. The credit union operates two physical branches (Gorham and West Gorham) and a small employee base of 11-50, with a digital distribution layer comprising iOS and Android mobile banking, online banking (24/7 web access), mobile check deposit, bill pay, e-statements, and shared-branching access to over 5,600 credit union branches nationwide via CO-OP.

The product portfolio centers on consumer deposits (free checking, share savings, money market at up to 2.50% APY, share certificates up to 3.82% APY for 12-month terms as of April 2026, HSAs, and youth/teen accounts), consumer lending (auto loans at promo rates as low as 4.50% APR for 60 months, personal loans, student loans, Visa credit cards at 10.99%-17.99% APR with no annual fee and a rewards variant), and partner-delivered mortgage (CUSO Home Lending) and SMB lending (Business Lending Solutions, LLC). Notable technology differentiators include the April 2026 launch of CascoINVEST, a digital investing platform embedded directly into online and mobile banking via partnership with Eko, offering guided, self-directed (commission-free over 5,000 stocks/ETFs/bonds), and hybrid portfolios with a $10 minimum funded via Plaid; July 2024 FedNow Service integration, making it one of the first Maine credit unions on the Federal Reserve's instant payment rail; mobile wallet tokenization (Apple Pay, Google Wallet); and Swipe to Save automated round-up savings. Voice bill pay is available via the third-party iPay QuickPay Alexa skill, and ATM access is surcharge-free through the SURF network's 260+ Maine ATMs, with nationwide ATM fee refunds on Platinum/Gold Rewards Checking.

The business model is standard credit union economics: net interest income on the loan portfolio is the primary revenue driver, supplemented by transaction fee income (NSF $32 per presentment, wire transfer $25 domestic / $40 foreign, late fees up to $20, returned payment up to $30, non-network ATM $1 after 4 free), interchange on Visa debit/credit, and a 0.5% AUM-based management fee on CascoINVEST hybrid and guided portfolios (self-directed is commission-free). Customer acquisition is community-led via local employer relationships, school and faith-community ties, events such as the Member Appreciation Ice Cream Social, content marketing (blog, monthly newsletter), and shared branching partnerships; expansion of the SMB segment and digital investing are the two most visible growth bets.

Name

Casco Federal Credit Union

Legal name

Casco Federal Credit Union

Website

https://cascofcu.com

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

11–50 employees

Short description

Casco Federal Credit Union is a not-for-profit, NCUA-insured cooperative serving members in Cumberland and York County, Maine, since 1954, operating two Gorham-area branches alongside a mobile/online banking platform, FedNow instant payments, and the embedded CascoINVEST investing platform.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Credit union deposits
• Digital investing
• Community banking

Headquarters

HQ city

Gorham

HQ country

United States

HQ region

North America

Offices4 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 on Loans: The primary revenue stream is interest earned on loans including auto loans, personal loans, home mortgages, student loans, credit cards, and business loans. Loan products are originated directly to members with rates based on creditworthiness.
2. Fee Income: The credit union generates fee income from various account service charges including overdraft/NSF fees ($32 per presentment), late payment fees, wire transfer fees, stop payment fees, ATM fees (after 4 non-network transactions), account research, and other service charges as detailed in the fee schedule.
3. CascoINVEST Management Fees: Self-directed CascoINVEST portfolios are commission-free with no fees per trade and no account opening or maintenance fees. Hybrid and pre-built portfolios charge an annual management fee of 0.5% based on assets under management in the portfolio, deducted monthly in arrears.
4. Credit Card Transaction Interchange: Revenue is generated from interchange fees on Visa credit and debit card transactions processed through the card network when members and others use Casco FCU-issued cards for purchases.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels6 records

Core offering

Casco Federal Credit Union is a not-for-profit, member-owned financial cooperative that provides retail banking products and services to individuals and small businesses in Cumberland County and York County, Maine. Its core offering includes deposit accounts (checking, savings, money market, certificates, HSAs), consumer and business loans (auto, personal, home, student, business lines of credit), Visa credit cards, and a recently launched integrated digital investing platform called CascoINVEST. Members access products through branches, online/mobile banking, shared branching, and surcharge-free ATM networks.

Product overview

Casco Federal Credit Union is a not-for-profit financial institution offering a comprehensive suite of banking products and services. The core product portfolio centers on deposit accounts (checking, savings, certificates, money market, HSAs), lending products (auto, personal, home, student, and business loans), and credit cards. A key recent addition is CascoINVEST, a digital investing platform launched in April 2026 through partnership with Eko, offering guided, self-directed, and hybrid investment options integrated directly into online and mobile banking. Additional services include mobile banking with deposit capture, bill pay, e-statements, shared branching networks, and financial wellness resources. The institution emphasizes community focus, serving members in Cumberland and York County, Maine since 1954.

Differentiator

Problem solved

Functional benefit

Brands

• CascoINVEST: Digital investing platform integrated into online and mobile banking, offering guided investing, self-directed investing, and hybrid portfolio options with minimum investment of $10.

Products and services

• CascoINVEST Digital Investing Platform Digital investing platform integrated into online and mobile banking offering guided investing with professionally managed portfolios, self-directed investing with commission-free trading of 5,000+ stocks, bonds, and ETFs, and hybrid portfolios. Minimum investment of $10. Available to Casco FCU members aged 18+ enrolled in online banking.
• Platinum Rewards Checking High-yield rewards checking account earning up to 3.00% APY on balances up to $25,000 when qualification requirements are met (20+ debit card purchases, e-statements enrollment, monthly online/mobile banking login). Includes nationwide ATM fee refunds up to $20 per month. $50 minimum opening deposit.
• Gold Rewards Checking Premium rewards checking account offering cash back rewards on debit card purchases and surcharge-free ATM access nationwide for account holders.
• Auto Loans Vehicle financing for new and used vehicles with promotional rates as low as 4.50% APR for up to 60 months, featuring fast approvals. Rate based on creditworthiness and term.
• Visa Rewards Credit Card Credit card with no annual fee and 1 point per $1 spent on rewards, redeemable for merchandise, travel, and more through the Scorecard Rewards platform. APR ranges from 10.99% to 17.99% based on creditworthiness. Includes foreign transaction fees (0.80% foreign currency / 1.00% USD in foreign country).
• Business Loans & Lines of Credit Business financing for Cumberland County small businesses offered through partnership with Business Lending Solutions, LLC, supporting equipment purchases, inventory stocking, and working capital. Competitive rates, flexible terms, and local decision-making in Cumberland County.
• Home Loans (CUSO Home Lending) Mortgage and construction loan products offered through partnership with CUSO Home Lending, featuring competitive rates, flexible terms, and various down payment options for members.
• Online Banking 24/7 web-based banking platform providing balance inquiries, funds transfers, credit card payments, e-check copies, bill pay, and access to all account services. Free to all members.
• Mobile Banking with Mobile Deposit Free mobile banking app for iPhone, iPad, and Android devices enabling balance viewing, bill payment, fund transfers, and check deposits via mobile capture (photographing both sides of checks).
• Bill Pay Free online bill payment service accessible via Online Banking, enabling same-day payments, future and recurring payment scheduling, and up to 1 year of payment history.
• e-Statements Free electronic statement alternative to paper statements, providing secure 24/7 online access with up to 12 months of archived statements.
• Certificates (Share Certificates) Term deposit accounts with terms ranging from 6 to 60 months, $500 minimum opening deposit, with competitive dividend rates (up to 3.82% APY for 12-month terms as of April 2026).
• Money Market Accounts Tiered savings accounts with rates ranging from 0.00% to 2.50% APY based on balance, requiring $2,000 minimum to earn stated APY. Minimum withdrawal $500, limited to 6 per month.
• Share Savings Account Basic member savings account with $25 minimum opening deposit and 0.10% APY across all balance tiers. Subject to federal transaction limitations of 6 transfers per month.
• Youth Accounts Savings and checking accounts for young members, including teen checking for ages 13 and up with debit card access and youth savings products designed to introduce minors to banking.
• Health Savings Accounts (HSAs) Tax-advantaged health savings accounts with competitive rates (0.10% APY for balances over $500) for individuals enrolled in high-deductible health plans. No minimum opening deposit and no monthly maintenance fees.
• Personal Loans Unsecured personal loans for members, offered alongside auto and home loans as part of the consumer lending portfolio.
• Student Loans Education financing products for members pursuing higher education, offered as part of the consumer lending lineup.

Quantifiable outcome

• Auto loan promo rates as low as 4.50% APR for up to 60 months
• +7 more outcomes

Named customers1 record

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

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and supporting.

• Federal Reserve Bank (FedNow Service)coreTechnology or Integration · 1 July 2024Casco FCU is live on the Federal Reserve's FedNow instant payment rail, enabling real-time payments 24/7, every day of the year. As a participant, Casco FCU can send and receive instant payments with other participating financial institutions across the U.S. Casco FCU is one of the first credit unions in Maine to join this network.
• EkocoreTechnology or IntegrationCasco FCU partnered with Eko to launch CascoINVEST, a digital investing platform integrated directly into the existing online and mobile banking experience. Eko provides the underlying technology enabling guided investing, self-directed commission-free trading, and hybrid portfolio management. Members can access the platform within their online banking without switching applications. Self-directed portfolios are commission-free; managed portfolios carry a 0.5% annual management fee.
• CO-OP Shared BranchingcoreTechnology or IntegrationCasco FCU is a member of the CO-OP Shared Branching network, providing members access to over 5,600 credit union branches across all 50 states and over 2,000 self-service 24/7 locations. Members can conduct standard transactions (deposits, withdrawals, loan payments, transfers) at any participating shared branch using their Casco FCU account.
• Business Lending Solutions, LLCcoreChannel Partner/ Reseller/ DistributorBusiness Lending Solutions, LLC is a Maine credit union-owned business lending service that provides business loans and lines of credit to Casco FCU members in the Greater Portland / Cumberland County area. They leverage the financial strength of Maine's credit unions. Supports equipment purchase, inventory, and working capital financing. Local decisions are made in Cumberland County.
• CUSO Home Lending™coreChannel Partner/ Reseller/ DistributorCUSO Home Lending™ is a home lending partner offering mortgages and construction loans to Casco FCU members. They provide competitive rates, flexible terms, and a range of down payment options tailored to members' home buying needs.
• GreenPath Financial WellnesssupportingStrategic or Co-development PartnerGreenPath Financial Wellness provides free, confidential financial counseling to Casco FCU members, including debt management programs, budgeting worksheets, and financial planning guidance. Casco FCU references GreenPath in its blog content and financial wellness resources as a recommended resource for members seeking professional financial guidance.
• Apple Pay & Google WalletsupportingTechnology or IntegrationCasco FCU debit and credit cards are compatible with Apple Pay and Google Wallet mobile wallets. Cards can be added to these digital wallets for secure, contactless, tokenized payments at point-of-sale, in-app, and online.
• Good Shepherd Food Bank of Maine / Maine CU Campaign for Ending HungersupportingOthersCasco FCU participates in the Maine Credit Union's Campaign for Ending Hunger, raising funds and collecting food donations to support Good Shepherd Food Bank of Maine. In 2023, Casco FCU contributed $11,163.79 as part of the campaign that raised over $1.22 million across Maine credit unions. Over $13.5 million has been raised since 1990.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Digital Federal Credit Union: Larger, federally chartered credit union with a strong digital-banking and tech-forward brand. Comparable in its emphasis on digital investing, mobile-first experiences, and high-yield checking, but materially larger and operating across a broader geography.
• Bangor Savings Bank: Maine-based community bank with a broader statewide branch footprint and a similar community focus. Competes with Casco FCU in southern Maine for consumer and small-business relationships, offering an overlapping but wider product set.
• Gorham Savings Bank: Community bank headquartered in Gorham, Maine — the same town as Casco FCU's headquarters. Competes for overlapping consumer and small-business deposits and loans within the same local market, though it operates as a for-profit mutual savings bank.

Direct peers

• Kennebec Valley Federal Credit Union: Maine community credit union serving central and southern Maine with a similar deposit and lending product mix. Directly comparable in scale, charter type, and community-focused operating model.
• Maine State Credit Union: Maine-based state-chartered credit union with a comparable retail product portfolio (checking, savings, loans, credit cards) and digital banking experience. Directly competes for the same Cumberland/York County member pool.
• Penobscot Federal Credit Union: Maine-based community credit union offering comparable deposit, lending, and digital banking products. Operations, scale, and member-acquisition approach closely mirror Casco FCU's model.
• Town & Country Federal Credit Union: Maine-based community federal credit union serving a similar geographically-defined membership base in southern Maine. Comparable product set (deposits, loans, credit cards) and similar small-employee footprint, making it the most direct operational peer.
• Atlantic Federal Credit Union: Maine-based community credit union with comparable deposit, lending, and digital banking offerings. Similar size class and member base to Casco FCU, operating in the same local market.
• Members Credit Union: Maine-headquartered credit union serving a defined membership base with a similar full-service consumer banking offering. Comparable in size, charter structure, and community mission.
• Infinity Federal Credit Union: Maine-based community credit union offering consumer and business banking, mortgages, and digital services. Comparable in scope and geographic target to Casco FCU.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/casco-federal-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

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 Casco Federal Credit Union