Mid-Atlantic Federal Credit Union

What Mid-Atlantic Federal Credit Union does

Mid-Atlantic Federal Credit Union (MAFCU) is a not-for-profit, federally chartered credit union founded in 1968 and headquartered in Germantown, Maryland, serving individuals and businesses primarily within Montgomery County. Membership is restricted to those who live, work, worship, volunteer, or attend school in Montgomery County (plus family members and qualifying local businesses), with a $5 minimum savings account deposit required to join. The credit union operates three branches across Germantown, Gaithersburg, and Silver Spring, and is federally insured by the NCUA through the National Credit Union Share Insurance Fund up to $250,000 per depositor.

MAFCU's core product portfolio spans personal and business checking accounts (including Kasasa-branded rewards checking), savings products (Money Market, Share Certificates, IRAs, Youth Accounts), and a full lending suite covering home mortgages (1-Year COFI ARM as low as 4.517% APR), home equity, vehicle loans (4.99% APR), signature loans (9.75% APR), business term loans and lines of credit, and Visa credit cards with 0% introductory APR. Digital delivery is anchored by a mobile application (iPhone/Android) with mobile deposit, card controls, and Zelle P2P payments, an online banking portal, and the MATT automated telephone banking system; biometric voice authentication is used for fraud prevention. Ancillary services include investment advisory, TruStage-referred insurance, loan protection, ACH origination, remote deposit capture, and the CO-OP Shared Branching network for nationwide access.

Revenue is generated primarily through interest income on loans across consumer and commercial portfolios, supplemented by transaction-based fees (account maintenance, overdraft/NSF, wire transfers, interchange) and investment income from reserves. As a cooperative, MAFCU does not pursue shareholder profit, instead returning value through member pricing. Recent commercial emphasis includes product launches (Your Financial Success Blog, Giving With MAFCU charity round-up), a refreshed C-suite (new CFO Edward Connelly in November 2025), and new board leadership — all suggesting active reinvestment in member-facing capabilities rather than geographic expansion.

Name

Mid-Atlantic Federal Credit Union

Legal name

Mid-Atlantic Federal Credit Union

Website

https://mafcu.org

Company type

Private

Founded year

1968

Operating status

Operating

Headcount range

51–100 employees

Short description

Mid-Atlantic Federal Credit Union is a not-for-profit, federally chartered credit union serving Montgomery County, Maryland residents and businesses since 1968, offering personal and business checking, savings, loans, credit cards, and digital banking through three branches and mobile/online platforms.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Business banking
• Credit union services

Headquarters

HQ city

Germantown

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: As a credit union, primary revenue is generated from interest charged on loans including mortgage loans, home equity loans, vehicle loans, signature loans, personal lines of credit, business loans, and credit cards
2. Banking Fees and Service Charges: Various fee income including account maintenance fees, ATM fees, wire transfer fees, overdraft/NSF fees, credit card fees, loan-related fees, and business service fees
3. Interchange and Transaction Fees: Revenue from debit and credit card transaction processing including foreign transaction fees and international ATM fees
4. Investment Income: Income generated from investment of member deposits and reserves

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels6 records

Core offering

Mid-Atlantic Federal Credit Union is a not-for-profit financial cooperative that provides personal and business banking products including checking accounts, savings products, mortgages, home equity loans, vehicle loans, signature loans, credit cards, and digital banking services. Membership is open to individuals who live, work, worship, volunteer, or attend school in Montgomery County, Maryland, as well as their family members and local businesses. The credit union operates physical branches alongside online, mobile, and telephone banking channels, with federally insured deposits up to $250,000 per account.

Product overview

Mid-Atlantic Federal Credit Union offers a comprehensive suite of banking products and services organized around personal and business checking, savings, lending, and digital banking. The core product portfolio includes Personal Checking (Kasasa Cash, Kasasa Cash Back, Standard, Simple), Personal Savings (Cash/Cash Back Saver, Money Market, Share Certificates, IRAs, Youth Accounts), and Business Banking (Checking, Savings, Loans, Credit Cards). Lending products span home mortgages (1-Year COFI ARM), home equity, vehicle loans (4.99% APR), signature loans (9.75% APR), and business term loans/lines of credit. The digital platform includes Online Branch web banking, MAFCU Mobile App (iPhone/Android), Card Controls, Bill Pay, Zelle P2P payments, Pay Global international transfers, Remote Deposit Capture, and ACH/Wire services. Ancillary services include Investment Services, Insurance (TruStage), Loan Protection (GAP), Financial Counseling, Shared Branching, and the Love My Credit Union Rewards program. The credit union recently launched Your Financial Success Blog for financial wellness content and Giving With MAFCU for charitable giving.

Differentiator

Problem solved

Functional benefit

Brands

• MATT: Member Automated Telephone Teller - automated telephone banking service for account access, fund transfers, and bill payments
• Kasasa

Products and services

• Personal Checking Personal checking accounts including Kasasa Cash (cash rewards), Kasasa Cash Back (rewards on purchases), Standard Checking, and Simple Checking with various fee structures and features for individual members.
• Personal Savings Savings products including Kasasa Cash/Cash Back Saver, Regular Share Savings, Specialty Savings, Money Market Plus Account, Share Certificates, Individual Retirement Accounts (IRAs), and Youth Accounts for children and students.
• Business Checking Business checking accounts including Business Checking, Commercial Checking, and MSB Commercial Checking with tiered features, transaction limits, and monthly maintenance fees for small businesses and commercial members.
• Business Savings Business savings products including Business Regular Share Savings Account, Commercial Money Market Account, and Business Share Certificates for commercial members.
• Personal Loans Personal lending including Home Mortgage Loans (1-Year COFI ARM with rates as low as 4.517% APR), Home Equity Loans, Vehicle Loans (as low as 4.99% APR), Signature Loans (as low as 9.75% APR), and Personal Lines of Credit (Kwik Kash).
• Business Loans Business lending including Business Term Loans and Business Lines of Credit for starting or scaling businesses.
• Visa Personal Credit Cards Co-branded Visa credit cards with 0% introductory APR for 6 months on purchases, balance transfers, and cash advances; no annual fees with points rewards program.
• Business Credit Cards Credit cards designed for business spending with no annual fees and transaction monitoring.
• MAFCU Mobile App Mobile banking application for iPhone and Android providing account access, mobile deposit, transfers, alerts, card controls, themes, multi-language support, and integrated Zelle and Pay Global functionality.
• Card Controls Debit card protection service with transaction alerts, location-based controls, usage controls and spending limits, and card on/off functionality accessible within the MAFCU app.
• Bill Pay Free bill payment service for scheduling one-time or recurring payments, setting reminders, and managing payee information, with Quicken and QuickBooks integration.
• Zelle P2P Payments Peer-to-peer payment service for sending and receiving money with friends and family; no fees, transfers within minutes, available via the MAFCU mobile app and online banking.
• Wire Transfer Domestic and international wire transfer services for members with fees ranging from free (incoming) to $90 (international outgoing online).
• ACH Services ACH origination and transfer services for businesses including per-file and per-record fees.
• Remote Deposit Capture Mobile check deposit service allowing business members to deposit checks remotely using a mobile device camera.
• Direct Deposit Free direct deposit service for receiving payroll, government payments, and other recurring deposits using ABA routing number 255077477.
• Pay Global International Money Transfer International money transfer service supporting 30+ countries with options for bank account deposit, card deposit, or cash pickup, available via mobile app and online banking through PayMitto and The Bancorp Bank N.A.
• Merchant Card Services Payment processing services for business members to accept card payments from customers.
• MATT (Member Automated Telephone Teller) Automated telephone banking service accessible 24/7 via touch-tone phone for account information, fund transfers, and loan payments, with biometric voice authentication for fraud prevention.
• Investment Services Investment advisory services to help members with retirement planning, portfolio management, and financial goals.
• Insurance Insurance products including TruStage Auto Insurance at discounted rates for members, along with loan protection and GAP coverage options, offered via referral partnership with TruStage (CUNA Mutual).
• Loan Protection Credit protection products including Mechanical Repair Coverage, Guaranteed Asset Protection Plus (GAP Plus), and payment protection for loans.
• Financial Counseling Free financial counseling services for members including budgeting assistance, debt management, and financial planning.
• Shared Branching Access to the CO-OP Shared Branching network allowing members to conduct transactions at other credit union locations nationwide.
• Surcharge-Free ATMs Access to the CO-OP and Allpoint surcharge-free ATM networks for cash withdrawals without fees.
• Love My Credit Union Rewards Exclusive discounts and rewards program for MAFCU members offering deals on shopping, travel, and entertainment through the Love My Credit Union Rewards coalition.
• Giving With MAFCU Charitable giving program featuring Round Up (debit card purchase rounding into savings or charity) and Giving Center (donate to charities directly from account with annual donation reports for tax purposes).
• Online Branch (Web Banking) Digital banking platform providing online account opening, loan applications, account management, bill pay, eStatements, and fund transfers through web browser and mobile app.

Quantifiable outcome

• Home mortgage rates as low as 4.517% APR with 1-Year COFI ARM
• +3 more outcomes

Named customers5 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability2 records

Feature4 records

Partnerships

Nine partnerships are on record, tiered core, strategic and minor.

• Early Warning Services (Zelle)coreTechnology or Integration · 31 March 2023Partnership with Early Warning Services to offer Zelle P2P payment integration within the MAFCU mobile app, enabling members to send and receive money with friends, family, and trusted parties with no fees
• PayMitto / The Bancorp Bank N.A.coreTechnology or IntegrationPartnership to provide Pay Global international money transfer service, enabling members to send money to 30+ countries with options for bank deposit, card deposit, or cash pickup
• Holy Cross HealthstrategicGTM or Marketing PartnerAnnual holiday toy drive partnership to support pediatric patients at Holy Cross Health facilities, demonstrating community commitment
• Manna Food CenterstrategicGTM or Marketing PartnerCharitable partnership with Montgomery County's largest food bank; MAFCU matches donations up to $2,500 during holiday seasons to support food assistance programs
• TruStage (CUNA Mutual)coreChannel Partner/ Reseller/ DistributorReferral partnership offering TruStage auto insurance products to members at discounted rates through the credit union
• AudioEyecoreTechnology or IntegrationThird-party web accessibility testing and monitoring service ensuring website conforms to WCAG 2.2 Level AA standards
• KasasacoreTechnology or IntegrationTechnology platform provider for consumer-facing banking products including Kasasa Cash checking, Kasasa Cash Back, and Kasasa Saver accounts with rewards features
• Love My Credit Union RewardsminorGTM or Marketing PartnerCoalition program providing exclusive member discounts and rewards through credit union network partnerships
• CO-OP Shared BranchingcoreTechnology or IntegrationShared branching network partner enabling members to conduct transactions at other credit union branches nationwide and access surcharge-free ATMs through CO-OP and Allpoint networks

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BECU (Boeing Employees Credit Union): Large community-chartered credit union serving the Pacific Northwest with open community membership. Comparable not-for-profit cooperative model with full-service consumer and business banking, though operating at much larger scale.
• PenFed (Pentagon Federal Credit Union): Large federal credit union with open community membership in the DC metro and nationwide. Comparable product breadth including consumer and business banking, mortgages, and credit cards at much larger scale.
• Navy Federal Credit Union: Largest U.S. credit union serving military members and their families nationwide. Operates as the broad incumbent in the federal credit union space with vastly greater scale but similar cooperative, member-focused model.

Regional players

• Congressional Federal Credit Union: Community-chartered federal credit union serving the Washington DC metropolitan area including select employer groups. Direct geographic and demographic overlap with MAFCU in the DC suburbs, offering similar consumer and business banking products.
• Andrews Federal Credit Union: Federal credit union serving military, DoD civilians, and select community groups in the DC/Maryland/Virginia region. Comparable federal credit union structure and Mid-Atlantic geographic footprint with similar product suite.

Direct peers

• First Tech Federal Credit Union: Federally chartered community credit union serving tech industry and community members nationwide. Comparable digital banking investments, Kasasa-style reward products, and cooperative member-focused model.
• Alliant Credit Union: Federally chartered community credit union open to anyone in the U.S. with a $5 donation. Direct product/feature competition including digital-first checking, savings, and lending with similar fee/rate positioning.
• SchoolsFirst Federal Credit Union: Federally chartered community credit union serving school employees and their families with broader community membership. Comparable federal credit union structure, full product suite, and member-focused cooperative values.
• State Employees Credit Union (SECU): Large state-chartered credit union serving state employees and community members with full banking services. Comparable community-chartered model with similar product breadth and conservative lending posture.
• Patelco Credit Union: Community-chartered federal credit union serving Northern California with similar full-service consumer banking, mortgage, and business products. Comparable scale and digital transformation trajectory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@MidAtlanticFederalCreditUnion
• Facebookfacebook.com/midatlanticfcu
• LinkedInlinkedin.com/company/131375
• Instagraminstagram.com/midatlanticfcu
• Xx.com/midatlanticfcu

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Mid-Atlantic Federal Credit Union