Taupa Lithuanian Federal Credit Union

What Taupa Lithuanian Federal Credit Union does

Taupa Lithuanian Federal Credit Union is a federally chartered, not-for-profit cooperative credit union founded in 1980 and headquartered at 368 West Broadway, South Boston. Membership is restricted by charter to persons of Lithuanian ancestry and their immediate family members, making it a community-anchored financial institution serving the Lithuanian-American population in Greater Boston. As of 2019, the credit union reported 1,800 members and $22 million in assets, operated from a single physical branch, and employed between 1 and 10 people. Member deposits are federally insured up to $250,000 by the NCUA, and the institution carries Equal Housing Lender designation.

The credit union's product set mirrors a standard full-service community bank: deposit products include regular savings (0.10% APY), tiered money market accounts (up to 2.00% APY at $100,000), checking accounts, CDs (6/12/24-month terms at 3.21%-3.50% APY), and Traditional and Roth IRAs. Lending products include consumer loans (auto loans at 4.75% APR, personal loans at 10.00% APR, Mastercard credit cards at 9.96% APR with no annual fee and Scorecard rewards), passbook loans, home equity lines of credit (floor rate 4.00%), and fixed- and adjustable-rate mortgages (5.25%-6.75% APR across 15-, 20-, and 30-year terms). Prepaid gift cards ($10-$1,000) and reloadable travel cards ($100-$5,000) extend the offering into payments. The technology backbone is the third-party RealTime Home Banking platform providing 24/7 online and mobile banking, while free ATM access is delivered through MoneyPass and SUM Network partnerships integrated with the Mastercard, Pulse, NYCE, and Plus networks.

Revenue is generated almost entirely through the net interest spread on loans and deposits, supplemented by minimal transaction fees (international wires $45, domestic wires $30, incoming wires $20, overdrafts $15). Pricing is positioned as community-friendly: most services are free, including checking, debit cards, online banking, bill pay, and overdraft protection transfers. Go-to-market is community-led, relying on referrals and partnerships with South Boston Lithuanian cultural organizations rather than paid marketing, with a light digital presence on Facebook and Twitter. The institution operates as a member-owned cooperative governed by an elected Board of Directors (President Nida Veitas-Purins, VP Edward Bubnys, Treasurer Thomas Ashmanskas, Secretary Audra Avizonis, Chairperson Regina Baika) and has no external parent, private equity, or venture capital ownership.

Name

Taupa Lithuanian Federal Credit Union

Legal name

Taupa Lithuanian Federal Credit Union

Website

https://taupaboston.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

1–10 employees

Short description

Taupa Lithuanian Federal Credit Union is a federally chartered, not-for-profit cooperative credit union founded in 1980 in South Boston, serving approximately 1,800 Lithuanian-American members with deposits, consumer and real-estate loans, prepaid cards, and online banking.

Ownership category

akta.pro rank

Product category

Community Banking / 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

Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Credit union services
• Retail banking
• Consumer lending
• Deposit accounts
• Mortgage loans

Headquarters

HQ city

South Boston

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: The credit union generates revenue primarily through interest charged on consumer loans (auto loans, personal loans, credit cards, passbook loans) and real estate loans (mortgages, home equity lines of credit). Interest rate reductions are offered for loans with automatic payment or direct deposit.
2. Dividend Interest Income: Revenue from the spread between interest earned on member deposits (savings, CDs, IRAs, money market accounts) and interest paid on loans. Dividends are paid to members on their deposit accounts monthly.
3. Fee-based Services: Minimal fee revenue from services including international wires ($45), domestic wires ($30), incoming wires ($20), overdraft fees ($15 per transaction), and check printing ($5 plus printer charge). Most services are provided free of charge.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Taupa Lithuanian Federal Credit Union is a member-owned, NCUA-insured federal credit union that provides retail banking and lending products to its roughly 1,800 members. Its core offering includes deposit products (savings, checking, money market, CDs, IRAs), consumer and mortgage loans (auto, personal, HELOC, fixed and adjustable-rate mortgages, real estate loans), and payment products (MasterCard credit card, debit card, prepaid gift and travel cards), delivered through one South Boston branch and online/mobile banking channels.

Product overview

Taupa Lithuanian Federal Credit Union operates as a community-focused financial institution offering a comprehensive suite of banking products and services. The credit union provides deposit products including Savings Accounts, Money Market Accounts, Saving Certificates (CDs), Individual Retirement Accounts (IRAs), and both personal and business Checking Accounts. Its lending portfolio encompasses consumer loans (auto loans, personal loans, MasterCard credit cards, and passbook loans), real estate financing (fixed-rate and adjustable-rate mortgages, home equity lines of credit), and prepaid cards (gift cards and travel cards). Digital banking services include an online and mobile Home Banking platform with bill pay, fund transfers, and account alerts. The product architecture is organized around core deposit and lending products, with supplementary services like overdraft protection and loan calculators. All products are NCUA-insured and target members of Lithuanian ancestry and their immediate families.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Savings Account A basic savings account available to credit union members for personal deposits and savings accumulation.
• Bonus Savings Account A tiered savings account that rewards higher balances with higher dividend rates, intended for members seeking greater returns on saved funds.
• Holiday Club Account A dedicated seasonal savings account designed to help members set aside funds for holiday-related expenses throughout the year.
• IRA (Individual Retirement Account) A retirement savings account offered to members to support long-term retirement planning with tax-advantaged features.
• Money Market Account A higher-yield deposit account that combines features of savings and limited checking access, paying tiered dividends based on balance.
• Share Certificates (CDs) Term deposit accounts (certificates of deposit) offering fixed dividend rates for specified terms, allowing members to earn a guaranteed return on funds held for the term.
• Checking Account A standard personal checking account used for everyday transactions, bill payments, and direct deposits.
• Business Checking Account A checking account tailored for small businesses and sole proprietors in the community, supporting business deposits, payments, and cash management.
• MasterCard Credit Card A MasterCard-branded credit card issued to members for personal credit purchases, with billing and repayment handled through the credit union.
• Debit Card A debit card linked to a member's checking account, used for ATM withdrawals and point-of-sale purchases.
• Prepaid Gift Cards Prepaid gift cards offered to members for personal gifting and controlled spending, funded in advance.
• Travel Cards Prepaid travel cards that allow members to load multiple currencies for use during international travel, reducing foreign exchange friction.
• Auto Loans Consumer loans financing the purchase of new and used vehicles, available to members with competitive rates and terms.
• Personal Loans Unsecured personal loans for general member borrowing needs such as debt consolidation, medical expenses, or major purchases.
• Passbook Loans Secured loans collateralized by the member's share savings account, allowing members to borrow against their own deposits at the credit union.
• Home Equity Line of Credit (HELOC) A revolving line of credit secured by the equity in a member's home, providing flexible access to funds for major expenses, renovations, or debt consolidation.
• Fixed Rate Mortgage A residential mortgage with a fixed interest rate over the life of the loan, used by members for home purchase or refinancing.
• Adjustable Rate Mortgage A residential mortgage with an interest rate that adjusts over time according to a specified index, used by members for home purchase or refinancing.
• Real Estate Loans Real-estate-secured loans covering residential and other property financing needs beyond standard first mortgages and HELOCs.
• Home Banking (Online & Mobile Banking) Online and mobile banking services enabling members to view balances, transfer funds, pay bills, and manage accounts remotely.
• Loan Calculator An online tool that helps members estimate loan payments and amortization schedules for various borrowing scenarios.

Segments1 record

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Partnerships

One partnership is on record.

• RealTime Home BankingcoreTechnology or IntegrationThird-party online and mobile banking platform provider. Provides the technological infrastructure for Taupa's 24/7 online banking services including account access, transfers, and bill pay.

Scale indicators3 records

Recent moves1 record

Expansion highlights5 records

Direct peers

• Hanscom Federal Credit Union: Federal credit union based in Massachusetts serving a defined membership group (Hanscom AFB community). Highly comparable as a similarly-sized federally chartered credit union offering deposits, consumer loans, and mortgages to an affinity-defined community.
• Metro Credit Union: Massachusetts-based community credit union serving the greater Boston area with checking, savings, lending, and online banking. Comparable as a community-focused credit union operating in the same regional market with overlapping product set.
• Mt. Washington Bank: Community bank headquartered in South Boston, in the immediate geographic vicinity of Taupa. Comparable as a small, locally rooted depository institution competing for the same neighborhood deposit and small-business relationships.
• North Cambridge Cooperative Bank: Small mutual cooperative bank operating in Massachusetts with a community-focused deposit and consumer-lending franchise. Comparable in cooperative structure, small scale, and retail/community banking focus.
• Reading Cooperative Bank: Massachusetts-based community cooperative bank offering savings, checking, mortgages, and consumer lending. Comparable as a small mutual/community depository institution serving a defined geographic retail customer base.
• Self-Help Federal Credit Union: Federally chartered community development credit union serving underbanked and affinity-defined populations across multiple states. Comparable as an affinity/mission-driven federal credit union serving a defined community segment.
• Justice Federal Credit Union: Federal credit union serving a defined occupational/affinity membership (Department of Justice employees and their families). Comparable in the affinity-based federal credit union model that relies on employer/community-based field of membership.

Broad incumbents

• East Cambridge Savings Bank: Larger community savings bank serving greater Boston/Cambridge with a broader product set including commercial lending, wealth management, and multiple branches. Comparable as a Massachusetts community depository competitor, though substantially larger and more diversified.
• Bethpage Federal Credit Union: Large federal credit union originally serving an affinity group (Bethpage, NY employees) that has since expanded to broad community membership. Comparable as a federally chartered credit union with similar product mix but operating at materially greater scale.

Others

• CUNA Mutual Group / TruStage: Credit union industry service organization providing insurance, lending, and technology solutions to credit unions. Comparable as an ecosystem partner that supports credit unions like Taupa with back-office services rather than as a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/TaupaFcu
• Facebookfacebook.com/Taupa-Lithuanian-Federal-Credit-Union-807715195942593
• LinkedInlinkedin.com/company/taupa-lithuanian-fed-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles17 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 Taupa Lithuanian Federal Credit Union