FedEx Employees Credit Association

What FedEx Employees Credit Association does

FedEx Employees Credit Association (FECA) is a federally chartered, not-for-profit credit union founded in 1974 and headquartered in Memphis, Tennessee. Its field of membership is restricted to current and retired employees of FedEx Corporation and its subsidiaries, plus their immediate family and household members, giving it a closed-membership community anchored to a single Fortune 500 employer. The institution operates 10 branches concentrated near FedEx facilities across six states (Tennessee, Arkansas, Indiana, California, Pennsylvania, and Texas), with membership spanning all 50 states and roughly 10,000 zip codes; deposits are insured up to $500,000 per account through a combination of NCUA federal insurance and Excess Share Insurance.

FECA runs a full-service consumer banking platform spanning a six-tier checking portfolio (Direct, Basic, Extras, Money Market, New Direction second-chance, and Youth), Share Savings, Share Certificates, Club Accounts, and a five-card Visa credit lineup (Classic, Premier, Secured, Restoration, and First-Time) plus gift cards. Lending products include new and used auto loans, RV/motorcycle/boat/airplane financing, personal loans, business loans, home mortgages, and home equity loans/LOCs. Digital infrastructure comprises a mobile app with remote check deposit, online banking, bill pay, and wire transfer (domestic $15, international $40); an Interactive Teller Machine network provides live video teller service at select branches. Members access 85,000+ surcharge-free ATMs through Allpoint, CO-OP, and Dolphin Debit networks, plus 5,000+ shared branches via CO-OP. Mobile wallet tokenization is supported across Apple Pay, Google Pay, Samsung Pay, PayPal, Venmo, Fitbit Pay, and Garmin Pay.

The business model rests on net interest income from the diversified loan portfolio (auto loans from 4.40% APR, credit cards 6.50%-12.90%+ APR), supplemented by interchange on Visa card transactions, modest deposit-account maintenance fees (Basic $2/quarter to New Direction $10/month), out-of-network ATM fees, and referral revenue from LPL Financial for investment services and TruStage for insurance products. Member acquisition is driven by employer partnerships with FedEx HR/payroll, on-site branch presence, and direct digital enrollment. Strategic partnerships include LPL Financial (investment advisory and Guided Wealth Portfolios robo-advisor with $5K minimum), TruStage (home/auto insurance), BALANCE (youth financial education), TrueCar/Carvana/Enterprise (car buying), and Visa (card issuing and network). The credit union employs 51-100 staff and is governed as a member-owned cooperative under NCUA oversight.

Name

FedEx Employees Credit Association

Legal name

FedEx Employees Credit Association

Website

https://fecca.com

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

51–100 employees

Short description

FedEx Employees Credit Association is a not-for-profit federal credit union founded in 1974 that provides checking, savings, lending, credit cards, and investment services to FedEx employees, retirees, and their families across the United States.

Ownership category

akta.pro rank

Product category

Retail Banking / Credit Union Services

NAICS

Credit Unions (52213), Credit Card Issuing (522210)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industries

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Credit union services
• Consumer lending products
• Membership banking
• Retail financial services
• Employee community banking

Headquarters

HQ city

Memphis

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: FECA earns interest income from its diversified loan portfolio including auto loans, home mortgages, home equity loans/LOC, personal loans, credit cards, RV/boat/motorcycle/airplane loans, and business loans. Interest rates range from ~4.40% APR for new auto loans to 12.90%+ for credit cards.
2. Checking Account Fees: Monthly maintenance fees on select checking accounts: Basic Checking $2/quarter, Extras Checking $6/quarter, New Direction $10/quarter. Money Market charges $10/month if balance falls below $2,500.
3. Credit Card Transaction Fees: FECA earns interchange fees on Visa credit and debit card transactions across its card portfolio including Visa Classic, Premier, Secured, Restoration, and First-Time cards.
4. ATM and Shared Branch Network Fees: Fees from out-of-network ATM usage (charged by the owning institution) and potential fees for shared branch transactions. FECA's own ATMs do not charge FECA members for transactions.
5. Financial Advisory Referrals: FECA refers members to LPL Financial for investment and advisory services, generating referral revenue through an agreement with LPL Financial.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

FedEx Employees Credit Association is a not-for-profit federal credit union that provides full-service consumer banking to FedEx employees, retirees, and their immediate family members. Its core offering spans checking accounts (Direct, Basic, Extras, Money Market, New Direction, Youth), savings products (Share Savings, Share Certificates, Club Accounts), Visa credit cards (Classic, Premier, Secured, Restoration, First-Time, Gift Cards), and a broad consumer and small-business loan portfolio (auto, RV, motorcycle, boat, airplane, home mortgage, home equity, HELOC, personal, and business loans), supported by digital banking, mobile deposit, mobile wallets, and a national ATM/shared-branch network.

Product overview

FedEx Employees Credit Association (FECA) operates as a not-for-profit federal credit union offering a comprehensive suite of financial products and services primarily serving FedEx employees, retirees, and their family members. The credit union provides a multi-tiered checking account portfolio (Direct Checking, Basic Checking, Extras Checking, Money Market Checking, New Direction Checking, and Youth Checking), share savings and certificate products (Share Savings, Share Certificates, Club Accounts), and a full range of Visa credit cards (Visa Classic, Premier Visa, Secured Visa, Restoration Visa, First-Time Visa, and Gift Cards). Lending offerings span consumer lending (Auto Loans, RV/Boat/Motorcycle/Airplane Loans, Personal Loans, Business Loans) and real estate lending (Home Mortgages, Home Equity Loans, HELOCs). Digital banking capabilities include Online & Mobile Banking with Mobile Check Deposit, Bill Pay, ATM/ITM Networks, and Shared Branching through CO-OP. Supplementary services include Financial Advisor Services through LPL Financial, Guided Wealth Portfolios, IRA and Education Savings Accounts, Credit Counseling, and Insurance products through TruStage. The credit union also offers Value Rewards loyalty program and mobile wallet integrations with Apple Pay, Google Pay, Samsung Pay, PayPal, Venmo, Fitbit Pay, and Garmin Pay. FECA maintains 10 branches across 5 states with membership available in all 50 states and access to over 85,000 ATMs through Allpoint, Dolphin Debit, and CO-OP networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Direct Checking Fee-free everyday checking account requiring a monthly $200 minimum direct deposit, designed for members who prefer automated finances and primarily use online or mobile banking; includes free eStatements, bill pay, unlimited check writing, and the Visa ExpressCheck debit card with ValueRewards.
• Basic Checking Low-cost, interest-bearing checking account with no minimum balance requirement, quarterly dividends, free eStatements, online/mobile banking, bill pay, and a Visa ExpressCheck debit card with Value Rewards. Priced at $2 per quarter.
• Extras Checking Premium rewards and identity-protection checking account priced at $6 per quarter, including $10,000 AD&D insurance, $5,000 identity theft insurance, fraud and SSN monitoring, and additional perks for members aged 55+ (25bp loan discount, 25bp share certificate bump, free gift cards, free money orders/wires).
• Money Market Checking Higher-yield checking account combining savings features with checking flexibility; requires $5,000 minimum opening deposit, pays 1.45%-1.75% APY by balance tier, charges a $10/month fee if balance falls below $2,500, and supports unlimited check writing.
• New Direction Checking Second-chance checking account designed for members rebuilding financial history after overdrafts or NSF fees; $10 monthly fee, $100 minimum balance, direct deposit required, $400 daily ATM/POS limit, and $3 monthly fee waiver if enrolled in eStatements.
• Youth Checking Free checking account with parental safeguards for FedEx employees' dependants aged 15-21; $0 monthly fee, $400 daily POS/ATM limits, overdraft protection from Share Savings, and automatic conversion to standard checking at age 22.
• Share Savings Foundational savings account required for FECA membership, earning dividends of 0.01%-0.05% APY depending on balance tier; serves as the base share account and source of overdraft protection.
• Share Certificates Term savings accounts offering higher dividends than regular savings in exchange for keeping funds deposited until maturity; terms range from 6 to 60 months with rates up to 4.00% APY on 6-12 month terms.
• Club Accounts Purpose-specific savings accounts earning higher dividends through automatic payroll deduction, including Holiday Club (matures third Wednesday in October) and Vacation Club (custom maturity date).
• Visa Classic Credit Card Fixed-rate Visa credit card with APR as low as 9.90%, no annual fee, no balance transfer fees, no cash advance fees, 2.90% promotional balance transfer rate for 12 months, credit limits up to $20,000, and Value Rewards points on purchases.
• Premier Visa Credit Card Variable-rate Visa credit card with APR as low as Prime + 4.00%, no annual fee, up to $100,000 credit limit, 1% cash back monthly, and a 2.90% promotional balance transfer rate for 12 months.
• Secured Visa Credit Card Secured credit card requiring a refundable security deposit matching the credit limit, fixed APR as low as 6.50% (lowest of FECA's card portfolio), no annual fee, and Value Rewards earning; designed to build or rebuild credit history.
• Restoration Visa Credit Card Credit card tailored for members rebuilding credit after bankruptcy; rates as low as 12.90% APR, $2,500 credit limit, Value Rewards earning, and no annual fee.
• First-Time Visa Credit Card Entry-level Visa credit card designed for members establishing credit for the first time; no credit score required, no security deposit needed, and a $2,000 credit limit.
• Visa Gift Cards Prepaid Visa gift cards available in denominations from $10 to $1,000; compatible with mobile wallets and accepted wherever Visa debit cards are accepted in the U.S.
• Home Mortgages Home purchase and refinance loans originated through FECA with quick online application, free pre-qualifications, and live loan officer support; not available in Nevada or New York.
• Home Equity Loans Fixed-rate loans using home equity as collateral for single large purchases or projects; terms up to 15 years with rates as low as 7.00% APR; not available in Hawaii, Texas, or Puerto Rico.
• Home Equity Line of Credit (HELOC) Flexible revolving credit line secured by home equity with tiered rates based on Prime, draws available via check, online transfer, or phone, and standard closing costs waived.
• Auto Loans Vehicle financing for new and used cars with rates from 4.40% APR for new vehicles and 4.99% APR for used; terms up to 84 months with pre-approval available through partner dealers.
• RV Loans Financing for motorized (Class A, B, C) and towable (fifth-wheels, travel trailers, toy haulers) recreational vehicles; terms up to 84 months with rates starting at 6.29% APR for new RVs.
• Motorcycle Loans Financing for new and used motorcycles, sport bikes, dirt bikes, cruisers, and ATVs; new financing up to 90% of purchase price plus tax, title, and license with terms up to 84 months.
• Boat and Yacht Loans Financing for all watercraft including fishing boats, ski boats, pontoons, power boats, sailboats, yachts, jet skis, and Sea-Doos; new boats financed at 100% with used boats up to NADA trade value.
• Airplane Loans Aircraft financing for single and multi-engine aircraft, private jets, and helicopters with terms up to 84 months; requires maintenance logs, title search, and FAA registration listing FECA as lien holder.
• Personal Loans Unsecured and secured personal financing including Line of Credit (up to $20,000 at 10.99%+ APR), Signature Loan (up to $20,000 at 9.99%+ APR), 12-12-12 Specialty Loan ($1,200 at 12% for 12 months), and Secured Loan (3% + current Share Savings rate).
• Business Loans Small-business financing for freelancers and small business owners; application requires a business loan application, financial statement, and debt schedule submitted to [email protected].
• Home Insurance Home and auto insurance products offered through TruStage insurance partner, with 24-hour claims assistance and potential member discounts on home, renters, condo, and auto policies.
• Auto Insurance Vehicle insurance offered through the TruStage partner covering auto, motorcycle, RVs, and boats, with extended warranty and GAP insurance options for totaled or stolen vehicles.
• Value Rewards Rewards program tied to FECA Visa ExpressCheck debit and Visa Classic credit cards earning 1 point per $2 spent (or 1% cash back on the Premier Visa), redeemable for travel, gift cards, and merchandise through the DreamPoints platform.
• FECA Financial Advisor Services Investment and retirement planning services delivered through LPL Financial with personalized advisory consultations covering stocks, bonds, mutual funds, estate conservation, and managed accounts; FECA earns referral compensation for directing members to LPL.
• Guided Wealth Portfolios Digital investing solution combining robo-advisory with access to a personal financial advisor; minimum $5,000 to start, using low-cost ETFs with personalized portfolio management.
• Individual Retirement Accounts (IRA) Traditional and Roth IRA products from FECA with a $5 minimum balance and 0.75% APY dividend rate; offers tax-advantaged retirement savings to members.
• Coverdell Education Savings Accounts (ESA) Coverdell Education Savings Accounts for education funding with a 0.50% APY dividend rate, offered to FECA members for qualified education expenses.
• Credit Counseling Free financial-wellness consultations delivered by NACCC-certified credit counselors covering credit improvement, budgeting, financial planning, and credit-building strategies for FECA members.

Named customers1 record

Segments5 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• TruStage InsurancecoreOthersTruStage Insurance, underwritten by leading insurance companies and offered through CUNA Mutual Insurance Agency, provides discounted home and auto insurance products to FECA members. FECA members receive special discounts on home, renters, condo, and auto insurance through this TruStage program.
• TRUECarminorGTM or Marketing PartnerTRUECar is a car buying service that provides FECA members with exclusive discount pricing on a network of over 800,000 vehicles. Members can compare prices to similar listings in their area and search new and used vehicles.
• CarvanaminorGTM or Marketing PartnerCarvana offers FECA members an online car buying platform with inventory of 25,000 vehicles. Members can purchase vehicles from home with delivery to their doorstep or pickup at Carvana vending machines. Includes a 7-day return policy.
• Enterprise Car SalesminorGTM or Marketing PartnerEnterprise Car Sales provides FECA members with certified pre-owned vehicles, each coming with a 12-month/12,000-mile limited powertrain warranty, Enterprise certification, 12 months of roadside assistance, free Carfax reports, and a 7-day buyback guarantee.
• BALANCEminorStrategic or Co-development PartnerBALANCE is a financial education partner that provides youth programs for FECA members. Through this partnership, FECA offers the M3 Money Club for ages 7-12 (comic books and interactive website with kid-friendly financial content) and Elements of Money for ages 13-22 (newsletter and interactive website for teen financial literacy).
• CO-OP Shared Branch NetworkcoreChannel Partner/ Reseller/ DistributorCO-OP Shared Branch Network is a national network of credit unions that shares facilities, providing FECA members access to over 5,000 shared branches and 30,000+ ATMs across the U.S. and Canada. Members pay no fees for CO-OP ATM transactions.
• AllpointcoreChannel Partner/ Reseller/ DistributorAllpoint is an ATM network partner providing FECA members with fee-free access to ATMs at well-known retailers including Target, CVS Pharmacy, Circle K, Mapco, Winn-Dixie, Rite Aid, Kroger, Speedway, and Safeway.
• Dolphin DebitminorChannel Partner/ Reseller/ DistributorDolphin Debit extends FECA's ATM network by providing access to an additional 52,652 ATMs globally, broadening surcharge-free access for members traveling internationally.
• Apple Pay / Google Pay / Samsung PaycoreTechnology or IntegrationFECA Visa debit and credit cards are compatible with Apple Pay, Google Pay, Samsung Pay, PayPal, Venmo, Fitbit Pay, and Garmin Pay mobile wallets, enabling contactless mobile payments for members.
• VisacoreTechnology or IntegrationFECA issues Visa-branded credit cards (Classic, Premier, Secured, Restoration, First-Time) and Visa ExpressCheck debit cards. All FECA cards feature EMV chip technology, fraud monitoring, and Visa Secure verification. FECA is also a member of the Visa network for merchant processing.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• BECU (Boeing Employees Credit Union): BECU is one of the largest employer-affiliated credit unions in the U.S., originally serving Boeing employees and now operating as a community-chartered cooperative. It mirrors FECA's structure - closed membership of a single employer (Boeing), comprehensive retail product suite, NCUA-insured cooperative - and is the closest direct analog in terms of member-acquisition model and life-stage product strategy.
• Navy Federal Credit Union: Navy Federal is the largest occupational credit union in the U.S., serving military personnel, Department of Defense employees, and their families with a closed employer-segment membership. Comparable to FECA as a closed-membership, employer-aligned institution with deep digital channels and a nationwide member base that lacks geographic proximity to its main branches.
• First Tech Federal Credit Union: First Tech FCU is an occupational credit union primarily serving employees of leading tech companies and their families (Intel, Microsoft, HP, Amazon, etc.). Shares FECA's employer-segmented acquisition model and has built a digital-first experience that targets nationally distributed, employer-affiliated members across all 50 states.
• SchoolsFirst Federal Credit Union: SchoolsFirst FCU is an occupational credit union serving California school employees and their families, providing checking, lending, and investment products through a closed employer-aligned membership. Directly comparable to FECA in serving a defined employer community (educators vs. FedEx employees) with multi-generational product positioning.
• PenFed (Pentagon Federal Credit Union): PenFed serves military-affiliated members and now operates nationally with a broad product suite including consumer lending, mortgages, and credit cards. Its occupational-rooted closed membership and digital expansion strategy parallel FECA's evolution from a single-employer base to a digital national reach.
• Service Credit Union: Service Credit Union is an occupational credit union serving military servicemembers and their families, with a closed membership tied to specific defense occupations. Compares with FECA in mission, employer-aligned distribution, and life-stage product positioning across all 50 states via digital and shared branch networks.
• SECU (State Employees Credit Union - Maryland): SECU Maryland is a state-affiliated occupational credit union serving state and public employees and their families, with a closed membership structure similar to FECA's. It offers the same product mix - checking, savings, mortgage, auto, credit cards - and operates branches near employer worksites while providing digital nationwide access.

Broad incumbents

• Patelco Credit Union: Patelco is a California-based community credit union with a comprehensive retail product suite, including auto lending, credit cards, and mortgages. Although not employer-restricted, it competes head-to-head with FECA for FedEx employees in California (El Segundo branch geography) for deposit and lending products.

Emerging players

• Connexus Credit Union: Connexus is a digital-first credit union serving members nationwide with checking, high-yield savings, lending, and card products. Competes with FECA's digital channel for FedEx employees who prefer no-branch banking, particularly for high-yield share certificate and money market products.
• Alliant Credit Union: Alliant operates as a digital-first credit union with broad national membership, offering similar checking, savings, lending, and card products to FECA. While its membership is open rather than employer-restricted, it competes directly with FECA for FedEx employees seeking high-yield digital banking without branch dependency.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/FedExCreditAsso
• Facebookfacebook.com/FEDEXECA
• LinkedInlinkedin.com/company/fedex-employees-credit-association

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 FedEx Employees Credit Association