MidWest America Federal Credit Union

Name

MidWest America Federal Credit Union

Legal name

MidWest America Federal Credit Union

Website

https://mwafcu.org

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

101–250 employees

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Unions (522130), Depository Credit Intermediation (5221)

SIC

Savings Institution, Federally Chartered (6035), Federal & Federally-Sponsored Credit Agencies (6111), Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industries

Employer/Occupational Credit Unions (FSABAEAB), Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)

Keywords

• Consumer banking services
• Personal lending products
• Mortgage and home equity
• Share certificate accounts
• Digital banking services

Headquarters

HQ city

Fort Wayne

HQ country

United States

HQ region

North America

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: Primary revenue from interest charged on loans including mortgages, auto loans, personal loans, home equity loans, and business loans. As a credit union, profits are returned to members through better rates.
2. Fee Income: Various service fees including ATM fees for non-network usage, overdraft fees, loan origination fees, and account service charges.
3. Investment Income: Income from investment of deposits and reserves in securities and other financial instruments.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

MidWest America Federal Credit Union is a member-owned, federally chartered not-for-profit credit union that provides consumer and business deposit products (checking, savings, share certificates, IRAs) and a full range of loan products (vehicle, mortgage, home equity, HELOC, personal/credit-builder, credit card, business). Distribution is delivered through 15 full-service branches across northeast Indiana and 24/7 digital channels (online banking, iOS/Android mobile apps, and an AI-powered voice and chat assistant named Mia).

Product overview

MidWest America Federal Credit Union offers a comprehensive banking platform with a unified Digital Banking service as the core, supported by mobile apps for iOS and Android. The credit union provides a full range of deposit products (Personal Checking with Reward Checking up to 4.00% APY, Personal Savings, Youth Savings/Patriots Club, Certificates & IRAs) and loan products including Vehicle Loans, Mortgage Loans with first mortgages and construction financing, Get It Done Home Loans (fixed-rate refinancing at 7/10/13 year terms), Home Equity Loans (fixed-rate second mortgages), Home Equity Line of Credit (HELOC), Personal Loans including Signature Loans and Credit Builder Loans, Unsecured Home Improvement Loans, Credit Cards, and Business Loans. The digital ecosystem includes add-on modules like Mia Digital Assistant (AI-powered chatbot and voice assistant), Credit Score & More by SavvyMoney (integrated credit monitoring), Digital Wallet (Apple Pay, Google Pay, Samsung Pay), Account Security/Identity Theft Protection, Relationship Perks, Skip-a-Payment, Zogo financial education, and ClickSWITCH account switching. The credit union serves over 51,000 members through 15 branches across Indiana with $1 billion in assets.

Differentiator

Problem solved

Functional benefit

Brands

• Mia: MidWest America's Digital & Voice Assistant, available 24/7 to help members with banking questions. Can be accessed via website chat or phone at 800-348-4738.
• It's a MidWest Thing

Products and services

• Personal Checking Share draft and checking account products for individuals, including Reward Checking paying up to 4.00% APY in dividends, with debit card, digital wallet support, and full digital banking integration. Targeted at consumer members seeking a community credit union alternative to commercial bank checking accounts.
• Personal Savings Member savings accounts providing competitive dividend yields with full digital banking access. Designed for individual members building savings, with options including youth and senior savings variants.
• Youth Savings (Club Kids) Savings account product designed for minors, encouraging early financial habits with parental involvement and youth-oriented financial education resources.
• Patriots Club (Senior Savings) Senior-focused savings account product tailored for retirees and older members, offering community credit union benefits to the 55+ demographic.
• Certificates & IRAs Share certificates and Individual Retirement Accounts (Traditional and Roth) with multiple term lengths and competitive dividend/APY rates, providing fixed-income savings vehicles for members planning for retirement.
• Investments & Insurance Wealth and protection products provided through investment and insurance partners, allowing members to consolidate financial planning alongside their banking relationship with the credit union.
• Business Checking Business deposit account product for small and micro businesses, providing a dedicated checking solution with local decision-making and competitive rates for commercial members.
• Business Savings Business savings account product designed for small businesses to manage reserves and earn dividends, with local underwriting and bundled treasury capabilities.
• Vehicle Loans New and used auto loans for cars, trucks, SUVs, and motorcycles, including a First Time Auto Buyer program and refinancing options. Rates starting as low as 5.48% APR, with quick local decision-making.
• Mortgage Loans First mortgage home loans including FHA, VA, and USDA financing for home purchases and refinances, plus Construction Loans with interest-only payments during construction. Targeted at member homebuyers in the credit union's service area.
• 5/5 Adjustable Rate Mortgage Adjustable rate mortgage product with a 5/5 structure (rate fixed for 5 years, adjusts every 5 years thereafter), offered with introductory rates as low as 5.25% for home purchases and refinances with local credit union underwriting.
• Get It Done Home Loan Fixed-rate first-lien mortgage refinancing product offered in 7-year (5.24%), 10-year (5.49%), and 13-year (5.99%) terms, with a $399 origination fee discounted to $299 under Relationship Perks. Designed for members seeking to refinance their primary residence with a known, fixed payment schedule.
• Home Equity Loans Fixed-rate second mortgage loans secured by primary residence equity, with terms up to 20 years and no prepayment penalties. Funds can be used for home improvements, debt consolidation, tuition, or vacations, with guaranteed decisioning within 2 hours of documentation receipt.
• Home Equity Line of Credit (HELOC) Variable-rate revolving home equity line of credit with interest-only payments during a 10-year draw period, no annual fee, and a maximum line of $350,000. Rates from 6.75% APR (Prime Rate up to 80% CLTV).
• Personal Loans Unsecured personal/signature loan product up to $10,000 for terms up to 60 months, available for debt consolidation, vacations, or emergencies. Includes Credit Builder Loans for members establishing or rebuilding credit and Home Energy Loans for energy-efficiency projects.
• Credit Builder Loan Credit-building installment loan product designed to help members establish or rebuild credit history through on-time payments reported to credit bureaus, supporting financial mobility and future borrowing eligibility.
• Credit Cards Consumer credit card products including affinity cards and VISA Gold Card, with account access and management integrated into the digital banking platform for member convenience.
• Business Loans Commercial lending products for small and micro businesses, including Micro Business Loans for smaller financing needs and Business Credit Cards. Local underwriting and decisions support working-capital and operational financing for member businesses.
• Digital Banking (Online & Mobile) Online and mobile banking subscription service providing 24/7 account access, transfers, bill pay, e-statements, e-alerts, external transfers, and mobile remote deposit capture across web, iOS, and Android. Available to all consumer and business members at no additional fee.

Quantifiable outcome

• 60-70% loan application abandonment rate being addressed through Algebrik AI partnership
• +2 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

AI capability7 records

Feature4 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Algebrik AIcoreTechnology or Integration · 2 July 2026Algebrik AI's Algebrik One platform will consolidate MidWest America's lending workflows including point-of-sale, loan origination, decisioning, and portfolio analytics into a single system. This partnership aims to address loan application abandonment rates of 60-70% by automating manual processes and embedding compliance controls for faster approvals and consistent member experiences.
• SavvyMoneycoreTechnology or IntegrationSavvyMoney provides credit score monitoring, full credit reports, real-time alerts, and credit score simulator integrated directly into MidWest America's digital banking platform for all members at no cost.
• Alliance OneminorChannel Partner/ Reseller/ DistributorAlliance One provides shared ATM network access, allowing MidWest America members to access Alliance One's network of ATMs across the region.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/mwafcu
• YouTubeyoutube.com/channel/UCaFZP0Ug1mYgWmL7Yda-dnA
• Facebookfacebook.com/MidWestAmericaFCU
• LinkedInlinkedin.com/company/midwest-america-federal-credit-union
• Instagraminstagram.com/mwafcu

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 MidWest America Federal Credit Union