Genco Federal Credit Union

What Genco Federal Credit Union does

GENCO Federal Credit Union is a member-owned, not-for-profit federal credit union established in 1953 and headquartered at 731 N. Valley Mills Drive, Waco, Texas. It is regulated by the National Credit Union Administration (NCUA) with savings federally insured to at least $250,000 and holds an Equal Housing Lender designation. The institution serves individuals who live or work in McLennan or Angelina counties in Texas, along with their family members, operating five branch locations (Waco/Valley Mills, Lufkin, Lacy Lakeview/Bellmead, Lorena, and Woodway/Hewitt) supplemented by online banking, a mobile app, text banking, and branch ATMs.

The credit union's core product offering spans deposit accounts (Kasasa Cash checking earning up to 4.25% APY, free checking, savings, money market, certificates, and IRAs) and consumer loans (vehicle, real estate, personal, line of credit, savings-secured, and the Platinum Rewards Mastercard with rates as low as 12.24% APR variable). Mortgage origination is distributed through a partnership with Member First Mortgage, LLC, covering FHA, VA, USDA, jumbo, and conventional loan programs. Auto lending is supported by the Member Auto Center (MAC) dealer-network platform. Insurance products (life, auto, home, AD&D) are offered through TruStage Insurance Agency, and TurboTax tax preparation is available at member discounts. Supporting services include safe deposit boxes ($15–$80/year), Visa gift cards ($25–$1,000), a Web Payment Center (Bacon Pay) for external loan payments, direct deposit, and community educational scholarships through MCC Foundation and Angelina College.

GENCO's revenue model is driven primarily by net interest income from its loan portfolio (vehicle, mortgage, personal, credit card), supplemented by deposit account fees, credit card interchange on the Platinum Rewards Mastercard, safe deposit box rentals, and referral/affiliate income from TruStage, TurboTax, and Member First Mortgage partnerships. The credit union does not publicly disclose financial results, has no parent company, no venture capital or private equity backing, and is independently operated as a financial cooperative. Marketing is conducted through its website (gencofcu.org), Facebook and Instagram (@GENCOFCU), email newsletters, community partnerships, and financial education content.

Name

Genco Federal Credit Union

Legal name

GENCO Federal Credit Union

Website

https://gencofcu.org

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

1–10 employees

Short description

GENCO Federal Credit Union is a member-owned, NCUA-insured financial cooperative founded in 1953 and headquartered in Waco, Texas. It provides consumer banking, lending, and partner-distributed insurance and mortgage products to individuals in McLennan and Angelina counties via five branches and digital channels.

Ownership category

akta.pro rank

Product category

Retail Banking / Consumer Credit Union Services

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Consumer banking services
• Personal lending products
• Deposit account services
• Mortgage loan services
• Credit union services

Headquarters

HQ city

Waco

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: GENCO earns interest income from vehicle loans, real estate/mortgage loans, personal loans, credit cards, and lines of credit extended to members.
2. Deposit Account Fees and Interest: Fees on deposit accounts (e.g., overdraft, ATM), interest earned on deposits, and Kasasa program revenue from checking accounts.
3. Credit Card Interchange: Revenue from credit card transactions processed through the Platinum Rewards Mastercard.
4. Safe Deposit Box Rentals: Annual rental fees for safe deposit boxes at various branch locations.
5. Partnership Referral Fees: Referral arrangements with TruStage Insurance, TurboTax, and Member First Mortgage generating referral or affiliate income.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels6 records

Core offering

GENCO Federal Credit Union is a member-owned, not-for-profit financial cooperative that provides consumer banking and lending products to individuals in McLennan and Angelina counties, Texas. Core offerings include deposit accounts (Kasasa Cash checking, savings, money market, certificates, IRAs), consumer loans (vehicle, real estate, personal, credit cards, lines of credit, savings-secured), and partner-distributed insurance, mortgage, and tax preparation products. Members access services through five branch locations, ATMs, and 24/7 online, mobile, and text banking.

Product overview

Genco Federal Credit Union is a member-owned financial institution offering a comprehensive suite of banking and lending products. The core offering centers on deposit accounts (checking with Kasasa Cash rewards, savings, money market, and certificates/IRAs) and loans (vehicle, real estate/mortgage, personal, and credit cards). Digital banking is provided through online and mobile platforms. Strategic partnerships extend the product portfolio: Member First Mortgage handles home loans, TruStage provides insurance products, and TurboTax integration offers tax preparation discounts. Additional services include Safe Deposit Boxes, Direct Deposit, Visa Gift Cards, Member Auto Center for vehicle purchases, and Web Payment Center for remote loan payments. The credit union also supports educational initiatives through scholarship programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts (including Kasasa Cash) Personal checking accounts for individual members, including Kasasa Cash (up to 4.25% APY with ATM fee refunds), Kasasa Cash Back (up to 1.50% APY), free, senior, and business checking.
• Savings & Money Market Accounts Savings and money market deposit accounts for individual members with competitive rates.
• Certificates & IRAs Share certificates (CDs) across multiple terms and individual retirement account (IRA) savings for members' retirement planning.
• Vehicle Loans Auto loans for new and used cars, SUVs, and trucks for individual members, distributed through branches, online application, and the Member Auto Center.
• Real Estate Loans / Mortgages Home purchase, refinance, FHA, VA, USDA/RD, jumbo, and construction-to-permanent mortgages offered to members through partner Member First Mortgage, LLC.
• Platinum Rewards Mastercard Members-only credit card with a rewards program; variable rates as low as 12.24% APR and 7.9% APR fixed for shared secured cards.
• Personal Loans and Lines of Credit Unsecured personal installment loans and revolving lines of credit for individual members' general financing needs.
• Savings Secured Loan Loan secured by the member's own savings deposits, providing a lower-rate borrowing option for credit-building or short-term needs.
• Debit/ATM Card Debit/ATM card for point-of-sale purchases and ATM withdrawals with access to surcharge-free networks.
• Visa Gift Cards Prepaid Visa gift cards in denominations from $25 to $1,000 accepted wherever Visa debit cards are accepted.
• Online & Mobile Banking 24/7 digital banking via web platform, mobile app, and text banking with account management, alerts, transfers, and account history.
• Safe Deposit Boxes Secure storage boxes in five sizes at branch locations, rented annually for $15–$80 depending on size, with a 10% senior direct-deposit discount.
• TruStage Insurance Products Life, auto, home, and accidental death & dismemberment insurance products offered to members through the TruStage Insurance Agency, LLC partnership, with $2,000 of no-cost AD&D coverage included.
• TurboTax Discount for Members Members-only access to TurboTax federal tax preparation products at a discount of up to $15 through an affiliate partnership with Intuit.

Quantifiable outcome

• Earn up to 4.25% APY on Kasasa Cash checking account
• +4 more outcomes

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

Integration8 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Member First Mortgage, LLC (MFM)coreChannel Partner/ Reseller/ DistributorGENCO partners with Member First Mortgage, LLC to offer mortgage products to members. MFM is a licensed mortgage lender/servicer with a corporate office in Grand Rapids, MI. Jeff Prince (NMLS #287901) serves as the dedicated mortgage consultant for GENCO members. The partnership covers purchase mortgages, refinances, and various loan programs including FHA, VA, USDA, jumbo, and conventional loans. GENCO's address (731 N. Valley Mills Drive, Waco, TX 76710) is listed as the originating credit union's address for the partnership.
• TruStage InsurancecoreChannel Partner/ Reseller/ DistributorTruStage Insurance Agency, LLC offers life insurance, auto insurance, home insurance, and accidental death & dismemberment (AD&D) insurance products exclusively to GENCO members. Products are underwritten by CMFG Life Insurance Company and other leading insurance companies. GENCO members receive access to discounted rates and $2,000 of no-cost AD&D coverage as a membership benefit.
• TurboTax (Intuit)minorGTM or Marketing PartnerGENCO offers its members access to TurboTax federal tax preparation products at a discount of up to $15 off through an affiliate marketing partnership. TurboTax is offered via the GENCO CU Discounts page and links to the TurboTax microsite.
• Member Auto Center (MAC)coreTechnology or IntegrationThe Member Auto Center (MAC) is an online auto buying platform integrated with GENCO's website that allows members to search for vehicles, get pre-approved for GENCO financing, and access car buying advice through preferred dealers. This is a white-label platform providing a seamless auto financing experience.
• MCC FoundationminorStrategic or Co-development PartnerGENCO partners with the McLennan Community College (MCC) Foundation to award a $1,000 scholarship ($500 per fall and spring semester) to an MCC student each academic year. Eligibility requires full-time enrollment, 2.5+ GPA, and demonstration of scholastic ability.
• Angelina CollegeminorStrategic or Co-development PartnerGENCO maintains two scholarship funds at Angelina College in Lufkin, Texas to benefit members majoring in business education. This includes the Virgie Flenoy Memorial Fund, a $1,000 scholarship dedicated in memory of a GENCO employee. Scholarships are awarded based on academic merit to full-time students who are GENCO members.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Regional players

• InTouch Credit Union: Texas-based credit union with a community-charter footprint and consumer lending focus; competes in adjacent central/east Texas markets to GENCO's Angelina County territory.

Broad incumbents

• Randolph-Brooks Federal Credit Union (RBFCU): One of the largest credit unions in Texas with a much broader geographic and membership base; competes with GENCO for consumer deposits and loans across central and south Texas.
• TDECU (Texas Dow Employees Credit Union): Texas-headquartered FCU with a statewide community charter, offering deposit and lending products that overlap directly with GENCO's suite.
• SchoolsFirst Federal Credit Union: Large federally chartered credit union with affinity-based membership; comparable product set (deposits, auto, mortgage, credit cards) and similar member-owned value proposition, though at much greater scale.

Direct peers

• Security Service Federal Credit Union: Large Texas-based federal credit union with a multi-branch community model, similar product suite (checking, auto, mortgage, credit cards) and member-focused differentiation directly comparable to GENCO.
• Connexus Credit Union: Community-charter credit union with strong digital banking capabilities, Kasasa-style rewards offerings, and a comparable omnichannel deposit/lending model.
• First Central Credit Union: Community credit union serving the Waco/McLennan County area — the most direct local competitor to GENCO's Waco headquarters footprint and member base.

Emerging players

• Alliant Credit Union: Digital-first federal credit union with nationwide membership and competitive deposit yields; represents the type of digitally native competitor that could pressure community credit unions like GENCO.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/GENCOFCU
• Instagraminstagram.com/GENCOFCU
• LinkedInlinkedin.com/company/genco-federal-credit-union

Compliance3 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 Genco Federal Credit Union