ILA 1351 Federal Credit Union

What ILA 1351 Federal Credit Union does

ILA 1351 Federal Credit Union is a closed-membership, federally chartered, not-for-profit financial cooperative founded in 1966 and headquartered at 10920 Spencer Highway in La Porte, Texas. Its membership is restricted to members of the International Longshoremen's Association Local 1351 and their families, with approximately 1,033 members and $15.9 million in assets reported at year-end 2024. The institution operates from a single physical branch (Monday-Friday 9 a.m. to 4 p.m.) and extends physical reach through the Co-op credit union shared branching network, while digital banking, online loan applications, and online credit card management are delivered through third-party platforms — HomeCU.net, Allied Payment (PortalPay), and EZCardInfo respectively. NCUA deposit insurance provides federal protection up to $250,000 per member, and an NCUA-approved integration has brought Boatmen, ILA Local #1438 into the ILA 1351 charter, expanding the eligible member base.

The product portfolio spans core deposits and consumer credit. Members can hold Share Savings accounts (tiered APY from 0.10% to 0.20% on balances up to $999,999.99, with a $25 minimum), Checking accounts with overdraft protection and Visa debit card access, and Share Certificates of $1,000 minimum. Lending products include personal loans, vehicle loans (new and used), RV, boat, and motorcycle loans, share-secured loans, and an in-house MasterCard credit card portfolio supported by EMV chip technology and a fraud detection system. Add-on protection products include Guaranteed Asset Protection (GAP) and credit life and disability insurance.

Revenue mechanics derive from interest income on the loan and credit card portfolios, interchange and transaction fees, and fees from ancillary insurance products. As a member-owned cooperative, surplus is returned to members through quarterly dividends on shares ($45,611 paid in 2024) and an interest refund program on borrowings ($86,270 returned to members in 2024). Pricing and dividend rates are set by the Board of Directors quarterly, and the credit union does not appear to have any institutional investors or external ownership.

Name

ILA 1351 Federal Credit Union

Legal name

ILA 1351 Federal Credit Union

Website

https://ila1351fcu.com

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

11–50 employees

Short description

ILA 1351 Federal Credit Union is a closed-membership, federally chartered credit union founded in 1966 in La Porte, Texas, serving approximately 1,033 members of the International Longshoremen's Association Local 1351 and their families with deposits, consumer loans, and credit cards.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035), Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)

Keywords

• Retail banking services
• Consumer lending products
• Credit union services
• Share savings accounts
• Vehicle loan financing

Headquarters

HQ city

La Porte

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: The credit union generates revenue through interest charged on various loans including personal loans, vehicle loans (new and used), RV loans, boat loans, motorcycle loans, share secured loans, and MasterCard credit cards.
2. Credit Card Portfolio Operations: The credit union owns its own credit card portfolio, generating revenue from credit card transactions and interest.
3. Dividends on Shares: Dividends are paid on share savings accounts from current income and available earnings after required transfers to reserves. In 2024, dividends of $45,611 were paid on shares.
4. Interest Refunds to Members: Special loan feature where interest refunds are returned to members who borrow with the credit union. In 2024, an interest refund of $86,270 was returned to members.
5. Credit Life and Disability Insurance: Low-cost insurance offered at the time of loan completion to provide additional financial security.
6. Guaranteed Asset Protection (GAP): GAP protection pays the difference between property value and loan balance, available on new and used vehicle loans and leases.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels2 records

Core offering

ILA 1351 Federal Credit Union is a closed-membership, federally chartered credit union that provides deposit accounts (share savings, checking, share certificates), consumer loans (personal, vehicle, RV, boat, motorcycle, share-secured), MasterCard credit cards, and ancillary protection products (GAP, credit life/disability insurance) exclusively to members of the International Longshoremen's Association Local 1351 and their families from a single branch in La Porte, Texas.

Product overview

ILA 1351 Federal Credit Union is a closed-membership credit union serving International Longshoremen's Association members and their families in the La Porte, Texas area. The organization operates as a single, unified financial institution offering a comprehensive suite of banking products centered around its core deposit accounts (Share Savings, Checking, and Share Certificates) and lending products (Personal Loans, Vehicle/RV/Boat/Motorcycle Loans, Share Secured Loans, and MasterCard Credit Cards). In 2008, the credit union expanded from its original savings-and-loans model to include website, home banking, checking accounts, and online banking functionality, and it now owns its own credit card portfolio. The product portfolio includes essential add-on services such as Guaranteed Asset Protection (GAP) insurance, credit life/disability insurance, EMV chip cards, and a sophisticated fraud detection system. The credit union also provides supplementary resources for members including hurricane and emergency planning tools, and utilizes third-party platforms for online banking, payment processing, credit card management, and shared branching through the CO-OP network.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Savings Account Primary savings account for ILA Local 1351 members and their families, requiring a minimum $25 balance and paying tiered quarterly dividends (0.10%–0.20% APY depending on balance). Daily withdrawal limits of $1,500 per account per member apply.
• Checking Accounts Draft (checking) accounts for ILA members and their families with competitive rates and fees, overdraft protection (Courtesy Pay) options, and Visa debit/ATM card access.
• Share Certificates

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

Integration5 records

Feature2 records

Partnerships

Four partnerships are on record, tiered core.

• NCUA (National Credit Union Administration)coreOthersFederal agency that provides insurance protection for member deposits up to $250,000 and grants charters for federal credit unions. NCUA approved the merger of Boatmen, ILA Local #1438 to join ILA 1351 FCU charter.
• Co-op Credit Union (Shared Branching)coreChannel Partner/ Reseller/ DistributorCooperative network allowing ILA 1351 FCU members to access branch services at other credit unions nationwide through shared branching.
• HomeCU.net (Digital Banking Platform)coreTechnology or IntegrationThird-party online and mobile banking platform providing digital banking services including account access, bill pay, and statement viewing.
• ILA Local 1351coreStrategic or Co-development PartnerThe credit union is dedicated to serving members of this International Longshoremen's Association local. The 59th Annual Meeting will be held at the ILA Local 1351 Hall in Pasadena, TX.

Scale indicators6 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• BECU (Boeing Employees Credit Union): Large occupational/employer-affiliated credit union originally serving Boeing employees, structurally similar to ILA 1351 FCU in serving a defined employee/union population with a cooperative model.
• First Tech Federal Credit Union: Occupational credit union serving employees of technology firms; comparable in being a closed-membership, employer/industry-affiliated cooperative offering deposits, loans, and credit cards.
• SchoolsFirst Federal Credit Union: Occupational credit union serving California school employees and their families; analogous closed-membership cooperative model serving a defined employee community.
• Quorum Federal Credit Union: Credit union serving employees of select companies and unions; closest analog to ILA 1351 FCU's occupational/union-closed-membership positioning and product set.
• BCU (Baxter Credit Union): Employer-affiliated credit union serving employees of partner companies and their families; structurally similar cooperative, closed-membership, deposit-and-loan focus.

Broad incumbents

• Patelco Credit Union: Larger community credit union offering a full suite of deposit, lending, and credit card products; relevant comparison point for product breadth relative to a small occupational credit union like ILA 1351 FCU.
• Security Service Federal Credit Union: Large federal credit union with a strong military and occupational membership base; comparable cooperative structure and product mix, but at significantly greater scale.
• Connexus Credit Union: Federally chartered digital-forward credit union offering nationwide membership; useful benchmark for how a small credit union could scale digital channels to compete beyond a closed membership.
• Alliant Credit Union: Open-membership digital credit union with broad product offerings; illustrates the digital and scale trajectory that closed-membership unions like ILA 1351 FCU would need to pursue to remain competitive.
• Navy Federal Credit Union: Largest occupational credit union in the U.S., serving military personnel and families; demonstrates the upper bound of where an occupational/union credit union model can scale while remaining member-owned.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/ila-1351-federal-credit-union

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 ILA 1351 Federal Credit Union