Levo Credit Union

What Levo Credit Union does

Levo Credit Union is a federally chartered, member-owned financial cooperative founded in 1934 (Federal Charter #60) and headquartered in Sioux Falls, South Dakota. It is the oldest active credit union in South Dakota, rebranded in 2023 from Sioux Falls Federal Credit Union to Levo. The institution serves individual and small-to-mid-sized business members across a 29-county service area spanning South Dakota, Iowa, North Dakota, and Minnesota along the I-29 corridor, distributed across 8 branch locations (6 Sioux Falls, 1 Sioux City, 1 Fargo).

The product platform spans consumer and commercial banking — checking, savings, certificates, IRAs, HSAs, mortgages, HELOCs, auto loans (including a DrivingSense hybrid product), personal, recreation, construction, student, and credit card lending — alongside SBA programs, commercial real estate financing, merchant services, and cash management/payroll. Insurance products (auto, home, recreation, business/farm, life, medical, GAP, extended warranty, debt protection) round out the suite. The digital layer includes online banking, the Levo e*Mobile app (iOS/Android) with mobile deposit, card controls, P2P, bill pay, e-statements, vault document storage, conversational banking (chatbot plus live chat), and mobile wallet integration with Apple Pay, Google Pay, and Samsung Pay. Investment services are offered through EasyVest.

Economically, Levo operates as a not-for-profit cooperative under NCUA regulation with $250K deposit insurance. Revenue is generated primarily through net interest income on the loan portfolio and fee-based services; profits are returned to members via lower loan rates and higher savings dividends rather than distributed to external shareholders. Distribution is omnichannel — physical branches, ITMs, phone banking, online, and mobile — supported by community-led marketing through the Levo Cares Foundation, local event sponsorships (Sioux Falls Storm, Air Madness), and partnerships with FHLB Des Moines for community development grants.

Name

Levo Credit Union

Legal name

Levo Federal Credit Union

Website

https://levo.org

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

51–100 employees

Short description

Levo Credit Union is a federally chartered, member-owned cooperative (founded 1934, oldest in South Dakota) providing consumer and business banking, lending, digital, and insurance services across 8 branches and a 29-county I-29 corridor region spanning SD, IA, ND, and MN.

Ownership category

akta.pro rank

Product category

Credit Union Services

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

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

Headquarters

HQ city

Sioux Falls

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Levo Credit Union generates revenue primarily through interest earned on loans including auto loans, mortgages, home equity loans, personal loans, and credit cards. As a not-for-profit credit union, profits are returned to members through lower rates on loans and higher dividends on savings.
2. Fee-based Services: Various banking fees including account service fees, overdraft protection fees, and other traditional credit union fee services.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Levo Credit Union is a member-owned, not-for-profit financial cooperative that provides full-service retail and commercial banking. Its core offerings include personal and business deposit accounts (checking, savings, certificates, retirement, HSA), consumer and commercial lending (auto loans, mortgages, home equity, personal, student, recreation, SBA, commercial real estate), credit cards, insurance products, merchant services, cash management/payroll, and a comprehensive digital banking platform including mobile and online banking with mobile deposit, mobile wallets, P2P, and conversational banking.

Product overview

Levo Credit Union is a full-service financial institution offering a comprehensive suite of banking products and digital services. The core banking products include personal checking and savings accounts, certificates, retirement accounts, and health savings accounts (HSAs), alongside various loan products including auto loans with the innovative DrivingSense hybrid option, home loans, home equity lines of credit, personal loans, student loans, and recreation loans. Business banking services encompass business checking, savings, loans, commercial real estate financing, SBA programs, lines of credit, and merchant services. The institution provides a robust digital banking platform accessible via online and mobile channels featuring mobile deposit, mobile wallet integration with Apple Pay/Google Pay/Samsung Pay, bill pay, P2P payments, card controls, account alerts, e-statements, vault document storage, conversational banking, EasyVest investment services, and enhanced security. Additionally, Levo offers insurance products including auto, home, recreation, business/farm, life, and medical coverage, along with GAP, extended warranty, and debt protection services. The digital offerings are complemented by physical branch locations and ATM networks, serving members across South Dakota, Iowa, North Dakota, and Minnesota.

Differentiator

Problem solved

Functional benefit

Products and services

• Starter Checking Entry-level checking account for students requiring student ID and parent/guardian co-sign, featuring spending limit controls, Visa Secure protection, and automatic savings enrollment. Designed for teens and students beginning their banking relationship with Levo.
• Personal Checking Standard personal checking account with debit card access, online banking, and various features for everyday banking needs of individual members.
• Personal Savings Savings account with dividends earned on balances, requiring a $5 minimum deposit to become a member-owner of the credit union.
• Certificates Certificate of deposit products offering guaranteed rates for fixed terms, providing a secure savings option with competitive yields for members and businesses.
• Retirement Accounts Individual retirement account (IRA) options including traditional and Roth IRAs for long-term retirement savings.
• Health Savings Account (HSA) Tax-advantaged health savings account for individuals with high-deductible health plans, featuring debit card access and minimal fees.
• Auto Loans Vehicle financing for new and used automobiles with competitive APR rates starting at 4.74% for qualified borrowers, offering traditional auto loan terms.
• DrivingSense Hybrid Auto Loan A hybrid financing option combining benefits of leasing and buying, offering low monthly payments, access to newer vehicles, and guaranteed future value.
• Construction Loans Financing for home construction projects, providing funds during the building phase with conversion options to permanent mortgages.
• Credit Cards Visa credit cards offering rewards, competitive rates at 14.49% APR, and Visa Secure fraud protection for personal use.
• Home Loans/Mortgages Mortgage products including 10 or 15-year fixed-rate options for home purchases with competitive rates starting at 5.875% APR.
• Home Equity Loans and Lines of Credit (HELOC) Revolving credit lines secured by home equity at 7.25% fixed rate (5-year), offering flexible financing for home improvements, debt consolidation, or other expenses with low fees and quick decisions.
• Personal Loans Unsecured loans for various personal needs including debt consolidation, emergency expenses, and major purchases with no annual or non-use fees.
• Recreation Loans Financing options for recreational vehicles including boats, RVs, and other leisure equipment.
• Student Loans Education financing for college expenses and student loan refinancing options.
• Overdraft Protection Protection service covering overdrafts on checking accounts to prevent declined transactions and associated fees.
• Business Checking Business checking accounts with features designed for business banking needs including cash management and payroll services for small and mid-sized businesses.
• Business Savings Business savings accounts for depositing business funds and earning dividends.
• Business Loans & Credit Comprehensive business lending solutions including term loans, commercial real estate financing, and lines of credit for small and mid-sized businesses.
• Commercial Real Estate Loans Financing for commercial property acquisitions, developments, and refinancing.
• SBA Programs Small Business Administration loan programs including SBA 7(a) and other government-backed lending options for small businesses.
• Business Credit Card Business Visa credit cards offering rewards and expense management tools for business owners.
• Merchant Services Payment processing services for businesses to accept card payments from customers.
• Cash Management/Payroll Business cash management and payroll processing services for efficient financial operations.
• Online Banking Comprehensive online banking platform enabling account access via computer for transfers, bill pay, statements, alerts, and account management.
• Mobile Banking App (Levo e*Mobile) Mobile application for smartphone banking, providing full online banking capabilities with smartphone-specific features including mobile deposit, card controls, and conversational banking.
• EasyVest Investment Services Investment advisory platform offering wealth-building tools and services within the trusted credit union environment.
• Auto Insurance Vehicle insurance coverage offered through partnership for automobiles.
• Home Insurance Homeowners insurance coverage for properties and dwellings offered through partnership.
• Recreation Insurance Insurance coverage for recreational vehicles including RVs and boats offered through partnership.
• Business & Farm Insurance Insurance products for business and agricultural operations offered through partnership.
• Life Insurance Life insurance coverage for financial protection of family members offered through partnership.
• GAP Coverage Guaranteed Asset Protection covering the gap between vehicle value and loan balance in case of total loss.
• Extended Warranty Extended vehicle protection plans beyond manufacturer warranty.
• Debt Protection Credit protection service covering loan payments in cases of disability, unemployment, or death.

Quantifiable outcome

• Members saved $93,506 in lower rates on loans
• +2 more outcomes

Named customers4 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature3 records

Partnerships

Three partnerships are on record, tiered core and minor.

• Federal Home Loan Bank of Des Moines (FHLB Des Moines)coreStrategic or Co-development Partner · 1 December 2023Levo partners with FHLB Des Moines to access grant programs for community development. Through this partnership, Levo has helped provide funds to organizations like Brandon Valley Band Boosters ($8,750), Junior Achievement of South Dakota ($10,500 grant), and Operation Hope and Caring ($34,502).
• Air MadnesscoreStrategic or Co-development PartnerLevo co-sponsors Operation Hope and Caring event with Air Madness, raising funds for local elementary students. This annual event provides educational experiences for students who cannot afford certain opportunities.
• Sioux Falls StormminorGTM or Marketing PartnerLevo partners with Sioux Falls Storm for sponsored game nights where a portion of proceeds goes to Operation Hope and Caring. Events include check presentations during Storm games.

Scale indicators9 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Veridian Credit Union: Iowa-headquartered community credit union serving members across multiple Midwestern states along the I-35/I-29 corridors. Overlaps directly with Levo in the Sioux City and broader Iowa region, comparable full-service retail and business banking model, similar member-owned cooperative structure.
• Meritrust Credit Union: Sioux Falls-headquartered community credit union with similar size and member-owned structure, operating in the same core market as Levo with overlap on consumer loans, deposits, mortgages, and digital banking.
• Wings Financial Credit Union: Minnesota-based community credit union with similar full-service retail and business banking offering, serving members in the Upper Midwest adjacent to Levo's newly expanded I-29 service area.
• TopLine Financial Credit Union: Twin Cities-area community credit union serving retail and small-business members with checking, lending, mortgages, and wealth products. Comparable scale and cooperative model to Levo, with overlap in the Minnesota portion of Levo's I-29 footprint.
• Spire Credit Union: Minnesota-based community credit union operating across the Minneapolis-St. Paul metro and surrounding region with full-service retail and member-owner cooperative structure similar to Levo's.

Regional players

• Great Western Bank: Omaha-headquartered regional bank with branches across South Dakota, Iowa, Nebraska, and Minnesota—directly competing with Levo in the same I-29 corridor markets Levo is expanding into, offering comparable deposit and small-business products.
• Bell Bank: Fargo-headquartered regional bank with full branch presence in the Fargo-Moorhead MSA—the same market where Levo just opened its first branch in January 2026. Competes on business banking, mortgages, and consumer credit in overlapping territory.

Broad incumbents

• Connexus Credit Union: Wisconsin-anchored credit union with national digital reach and similar full-service retail model; a broader credit union incumbent whose scale and digital maturity contrasts with Levo's community focus.
• BECU: One of the largest U.S. credit unions, member-owned, full-service banking, lending, and digital platform. Illustrative of the scaled-end of the cooperative model that Levo's growth strategy is moving toward.
• SchoolsFirst Federal Credit Union: Large federally chartered member-owned credit union operating full-service retail and digital banking nationally. Serves as a scale benchmark for the cooperative member-return model that Levo emulates at a smaller size.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/levofcu
• YouTubeyoutube.com/@levofcu
• Facebookfacebook.com/LevoFCU
• LinkedInlinkedin.com/company/levofcu
• Instagraminstagram.com/levofcu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Levo Credit Union