HUD Federal Credit Union

What HUD Federal Credit Union does

HUD Federal Credit Union (HUDFCU) is a federally chartered, member-owned credit union founded in 1936 to serve employees and families of the U.S. Department of Housing and Urban Development, subsequently expanded to Select Employee Groups including Hyatt Hotels, the Mortgage Bankers Association, the Small Business Administration, and approximately 30 other partner employers. Core products span deposit accounts (Regular Share Savings, Checking, Prime Time Checking, Money Market, Share Certificates 6-60 months, IRAs, Club Accounts, Rainy Day Savings, Youth custodial accounts), lending products (Auto Loans starting at 5.00% APR, Signature Loans, Share-Secured Loans, Debt Consolidation Loans up to $25,000, Classic and Secured VISA at 6.99% APR), and partner-routed offerings (mortgages through Andrews Federal Credit Union, student loans through Sallie Mae, wealth management via Axiom, insurance via TruStage). Technology is delivered through a Bankjoy-powered online and mobile banking platform with Express Pay (BaconPay), remote deposit capture, cardholder controls, free credit-score monitoring, DocuSign-based document workflows, and access to 30,000+ surcharge-free ATMs and 5,000+ shared branches via the CO-OP Financial Services network. The institution carries MDI (Minority Depository Institution) and LICU (Low-Income Credit Union) designations, is NCUA-insured, and operates from a single branch in Washington DC with a planned relocation to Alexandria, VA. Revenue is generated primarily through net interest income on loans and deposits, supplemented by transaction-based fees (overdrafts at $35, outgoing wires at $20, Skip-a-Pay at $25, Express Pay at $10, ATM surcharges at $2), share certificate balances, and lending margin. Effective April 30, 2026, HUDFCU merged with Andrews Federal Credit Union, ending its standalone operating posture.

Name

HUD Federal Credit Union

Legal name

HUD Federal Credit Union

Website

https://hudfcu.org

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

11–50 employees

Short description

HUD Federal Credit Union is a federally chartered, member-owned credit union serving HUD employees, Select Employee Group members, and their families with deposit accounts, consumer loans, credit cards, and partner-routed mortgages and student loans, delivered via Bankjoy digital banking and the CO-OP shared branching network.

Ownership category

akta.pro rank

Product category

Credit Union Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Functions Related To Depository Banking, Nec (6099), Personal Credit Institutions (6141)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industries

Public Sector & Municipal Credit Unions (FSABAEAK), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), General Purpose Credit Cards (FSAKABAA)

Keywords

• Credit union services
• Consumer lending products
• Retail deposit accounts
• Federal employee banking
• Mortgage and auto loans

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest: Interest income from auto loans, mortgages, personal loans, credit cards, and student loans. Primary revenue driver for the credit union.
2. Account and Service Fees: Fees from overdrafts ($35 NSF/returned item), wire transfers ($20 outgoing), stop payments ($20), skip-a-pay ($25), ATM fees, account closure ($25 within 6 months), dormant account fees ($5/month), loan late payments, and other banking services.
3. Checking Account Services: Revenue from overdraft privilege services and related checking account fees.
4. Digital Banking Convenience Fees: Express Pay charges $10 per transaction for payments from external accounts.
5. Certificate and Savings Products: Share certificates, money markets, IRAs, and savings accounts generate deposits that are loaned out or invested.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels8 records

Core offering

HUD Federal Credit Union provides retail banking, deposit, and consumer lending products to HUD federal employees, their families, and members of approved Select Employee Groups. Core products include share savings and checking accounts, money market and share certificates, IRAs, auto loans, personal/signature loans, debt consolidation loans, VISA credit cards, mortgage processing, and student loan referrals, supported by online and mobile banking via the Bankjoy platform and a nationwide shared branching and surcharge-free ATM network.

Product overview

HUD Federal Credit Union offers a comprehensive suite of financial products and services as a member-owned credit union serving primarily HUD employees and affiliates. The core offerings center on deposit accounts (Regular Share Savings, Checking, Money Market, Share Certificates/CDs, IRA Accounts, Club Accounts, Rainy Day Savings, Youth Accounts) and lending products (Auto Loans, Signature Loans, Share Secured Loans, Debt Consolidation Loans, Student Loans via Sallie Mae, Mortgages via Andrews FCU, Classic/Secured VISA Credit Cards). Digital services include Online/Mobile Banking, Express Pay, Wire Transfers, Credit Score monitoring, and AutoLink vehicle buying. Financial wellness support comes through Balance partnership with webinars and counseling. Loyalty programs (Relationship Rewards, Loyalty Rewards) provide loan discounts and certificate bonuses. The institution also offers specialized Furlough Loans and support services for federal employees during government shutdowns. As of April 2026, HUDFCU is merging with Andrews Federal Credit Union.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Share Savings Foundational savings account required for credit union membership with $5 minimum deposit representing the member's ownership share, providing free e-statements and digital banking access.
• Share Draft Checking Account No-minimum-balance checking account with Visa Debit Card, free Bill Pay, e-statements, overdraft protection, and access to surcharge-free ATMs.
• Prime Time Checking Special checking account for members over 50 years of age offering competitive dividends, club advantages, and reduced ATM fees.
• Money Market Account Interest-bearing money market account with limited check-writing and tiered dividends that reward larger balances, requiring a $2,500 minimum to earn dividends.
• Share Certificates (CDs) Fixed-term savings certificates with guaranteed returns, available in 6-60 month terms with a $1,000 minimum deposit and including an IRA Certificate option.
• Club Accounts Goal-based savings accounts including Holiday Club, Vacation Club, and Special Club with no minimum deposit and anytime access.
• IRA Accounts Individual Retirement Accounts available as Traditional and Roth IRAs with certificate options for tax-advantaged retirement savings.
• Rainy Day Savings Emergency fund savings account earning 2.27% APY on balances up to $5,000 with a $1,000 monthly deposit limit to encourage steady saving.
• Youth Accounts Custodial savings and checking accounts for minors under 18 with legal guardian oversight, including free Bill Pay for members age 16 and older.
• Auto Loans Financing for new (as low as 5.00% APR) and used (5.50% APR) vehicles up to 125% of purchase price or NADA value, terms up to 72 months, with a Green Auto Loan option starting at 4.75% APR.
• Signature Loans Unsecured personal loans for general purposes at 10.00% APR, up to $10,000 with terms from 12 to 60 months.
• Share Secured Loan Loan secured by funds in a member savings account or share certificate at Share Rate plus 3.00% APR, also useful for building or rebuilding credit.
• Debt Consolidation Loan Personal loan up to $25,000 for consolidating credit cards, student loans, and finance bills into a single monthly payment at 10.00% APR with terms from 24 to 60 months.
• Student Loans Partner student loans through Sallie Mae including Smart Option Student Loan for undergraduate and associate expenses and Graduate Loan suite for professional degrees.
• Mortgages Mortgage loans processed through Andrews Federal Credit Union with competitive rates, terms up to 30 years, online application, and fast decisioning.
• Classic VISA Credit Card Credit card at 6.99% APR with limits $500-$20,000, no annual fees, no balance transfer fees, no cash advance fees, and travel and identity theft protection benefits.
• Secured VISA Credit Card Credit-building card secured by funds in a dividend-earning share account with limits $500-$20,000, designed for members with no or limited credit history.
• Credit Score Monitoring Free credit monitoring tool providing credit score, full credit report, real-time alerts, and personalized insights without affecting the member's credit score (soft inquiry).
• Express Pay Loan payment service allowing payments from external accounts via ACH, debit, or credit card with a $10 convenience fee per transaction, including automatic payment setup.
• Wire Transfer Service Domestic wire transfer services with a $20 outgoing fee and 2:30 PM ET cut-off time, submitted via secure message, in person, or email through DocuSign.
• AutoLink Car Buying Service Vehicle buying service through UBS providing pre-negotiated prices on new and used vehicles in the Washington-Baltimore region with online search and integrated loan application.
• BALANCE Financial Wellness Financial education partnership providing webinars, 70+ on-demand workshops, one-on-one coaching, and confidential counseling services at no cost to members.
• Debt Protection Optional loan protection covering payments or balance cancellation for qualifying events including death, disability, or involuntary unemployment.
• Furlough Loan Short-term loan up to $5,000 at 7.75% APR for 24 months for federal employees during government shutdowns, with repayment starting 60 days after issuance.
• TruStage Auto and Home Insurance Auto and home insurance products offered to members through TruStage partnership with promotional member rates.
• Wealth Management Referral Service Investment and retirement planning guidance provided through Momodou Bojang, Senior Wealth Advisor at Axiom Value, LLC, available for members needing brokerage account or retirement planning support.

Named customers5 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability5 records

Feature4 records

Partnerships

Eleven partnerships are on record, tiered core and minor.

• Sallie MaecoreStrategic or Co-development PartnerStudent loan partnership providing competitive rates, multiple repayment options, and no origination fees through Sallie Mae's Smart Option Student Loan and Graduate Loan products. HUDFCU members receive referral access to Sallie Mae student loans for higher education financing.
• Andrews Federal Credit UnioncoreStrategic or Co-development PartnerMortgage services partnership. HUDFCU mortgage applications are processed through Andrews Federal Credit Union's mortgage platform. Additionally, HUDFCU announced a merger with Andrews Federal Credit Union effective April 30, 2026.
• BALANCE (Financial Wellness)coreStrategic or Co-development PartnerFinancial education partnership providing free access to expert-crafted educational resources, confidential no-cost financial counseling, webinars, on-demand workshops, and one-on-one coaching for HUDFCU members.
• Axiom Value, LLCminorStrategic or Co-development PartnerWealth management partnership providing investment and retirement planning guidance through Momodou Bojang, Senior Wealth Advisor. Available for members needing brokerage account or retirement planning support.
• Bankjoy (Digital Banking)coreTechnology or IntegrationDigital banking platform provider powering online and mobile banking services. HUDFCU migrated to the Bankjoy platform requiring member re-enrollment with new username and password requirements.
• TruStage InsuranceminorChannel Partner/ Reseller/ DistributorInsurance products offered through TruStage, including auto and home insurance, available to HUDFCU members with promotional rates.
• CO-OP Financial ServicescoreTechnology or IntegrationProvides surcharge-free ATM network (30,000+ ATMs) and shared branching network (5,000+ locations) enabling nationwide member access.
• CU Mortgage (Credit Union Mortgage Association)minorChannel Partner/ Reseller/ DistributorMortgage services partner providing competitive rates, discounted loan fees, and $500 closing credit for HUDFCU members seeking mortgage financing.
• Vizo Financial Corporate Credit UnioncoreTechnology or IntegrationCorrespondent banking partner for incoming domestic wire transfers. Wire transfers routed through Vizo Financial with ABA/Routing Number 231387550.
• TQC (Recruiting)minorImplementation/ SI/ Consulting PartnerTalent acquisition firm supporting recruiting and hiring needs. TQC acts as an extension of HUDFCU's HR team with over 30 years of experience in credit union staffing.
• Credit Union Foundation MD|DCminorOthersCommunity foundation partnership supporting credit union initiatives and member services in Maryland and DC areas.

Scale indicators5 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• NIH Federal Credit Union: A federal-agency-affiliated credit union in the DC metro serving employees of a government department; closely comparable membership model and product suite, and part of the CEO's career lineage.
• Andrews Federal Credit Union: The acquirer of HUDFCU and a larger DC-area credit union serving military and federal-affiliated members; directly comparable and now the parent franchise.
• State Department Federal Credit Union: Washington DC credit union originally serving a specific federal department's employees, offering the same deposit and lending products to a federal-employee base.
• Justice Federal Credit Union: Occupational credit union serving employees of a federal department and select groups nationwide, mirroring HUDFCU's employer-based membership structure.
• Department of Commerce Federal Credit Union: DC-based credit union serving a federal department's workforce with the same consumer banking and lending offerings and geographic focus.
• Signal Financial Federal Credit Union: DC-metro credit union where HUDFCU's current CEO previously served as CFO; comparable community/occupational membership and product range.
• Congressional Federal Credit Union: Washington DC credit union serving congressional and affiliated federal employees, directly comparable in market, membership, and services.

Regional players

• Bank-Fund Staff Federal Credit Union: DC credit union serving staff of international financial institutions; similar occupational model in the same geography though a distinct employer niche.

Broad incumbents

• Pentagon Federal Credit Union: Large national credit union rooted in federal/military membership offering the full spectrum of deposit and lending products; overlapping category but far greater scale.
• Navy Federal Credit Union: The largest US credit union serving military and government-affiliated members; same fundamental cooperative banking model at massive scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/TheHUDFCU

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 HUD Federal Credit Union