What Filer Credit Union does

Filer Credit Union is a Michigan-chartered, member-owned cooperative financial institution headquartered in Manistee, Michigan, operating four physical branches across Manistee, Bear Lake, Parkdale, and Ludington. Founded around 1950 and celebrating its 75th anniversary in 2025-2026, it serves over 10,000 individual consumer and local small business members with a comprehensive suite of personal and business banking products, including savings accounts (Loyalty Savings, Regular Share, CDs, Money Market, IRAs), checking accounts (Share Draft, Loyalty Checking, Teen Saver, HSA), lending products (home mortgages, auto, recreational vehicle, HELOC, personal, student, and business loans), Visa credit cards, and merchant services for businesses. Membership is supported through community-rooted activities including $25,000 in annual scholarships and active local event sponsorship.

The underlying technology stack is conventional community-banking infrastructure rather than a differentiated platform: a mobile banking application on iOS and Android, a web-based online banking portal, multi-factor authentication being deployed October 2025 with password length increased from 8 to 16 characters, and integrations with Zelle for peer-to-peer payments, Repay.io for loan payment processing, Visa for card issuance, CO-OP and Xtend shared branching for nationwide access, and Google Analytics for site analytics. There is no disclosed proprietary AI, ML, or data-driven decisioning; security and digital experience are the primary technology investment areas.

As a not-for-profit cooperative, Filer generates revenue primarily through net interest income on loans and investments (mortgages, auto, personal, HELOC, business lending, credit cards) supplemented by transaction-based fee income (overdraft, ATM, wire, merchant services, and Visa interchange). GTM motion is direct-to-consumer via physical branches and digital channels, with marketing concentrated on community events, quarterly newsletters (Financial Fibers), website content, and member referrals. Pricing is cooperative-standard: the 75th Anniversary CD Special offers 4.50% APY on new money for 4/7/10-month terms; loan rates vary by creditworthiness. There is no venture funding, parent company, or external equity ownership; surplus is returned to members through better rates and reduced fees rather than distributed as profit.

Name

Filer Credit Union

Legal name

Filer Credit Union

Website

https://filercu.com

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

11–50 employees

Short description

Filer Credit Union is a member-owned cooperative financial institution founded around 1950 in Manistee, Michigan, operating four branches and serving over 10,000 individual consumer and small business members across northwestern Michigan with personal and business banking products including deposits, loans, mortgages, and Visa credit cards.

Ownership category

akta.pro rank

Headquarters

HQ city

Manistee

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Revenue generated from interest charged on various loan products including mortgages, auto loans, personal loans, home equity lines of credit, business loans, and credit cards. This is the primary revenue stream for the credit union.
2. Interest Income from Investments/Savings: Income earned from investing member deposits in securities and other financial instruments, generating returns on the difference between loan interest rates paid and investment yields.
3. Fee-Based Income: Various fees including overdraft fees, ATM fees, wire transfer fees, and other service charges. Also includes fee income from merchant services for business members.
4. Credit Card Interchange: Revenue from credit card transaction processing fees on Visa credit card purchases made by members.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Filer Credit Union is a member-owned, not-for-profit financial cooperative that provides retail and small business banking products, including deposit accounts (savings, checking, CDs, money market, IRAs, HSAs), consumer and commercial loans (mortgages, auto, personal, HELOC, recreational vehicle, student, business), and Visa credit cards. Members access services through four Michigan branches, a mobile app, online banking, and shared branching networks (CO-OP and Xtend). Federally insured by NCUA to at least $250,000.

Product overview

Filer Credit Union offers a comprehensive suite of financial products and services primarily for personal and business banking needs. The core offerings include personal savings products (Loyalty Savings, Regular Share Savings, Certificates, Money Market Accounts, IRAs), personal checking accounts (Share Draft, Loyalty Checking, Teen Saver Checking, HSA), credit cards (Visa Credit Cards with Rewards), and lending products (Home Loans, Auto Loans, Personal Loans, HELOCs, Student Loans, Recreational Vehicle Loans). Business services include Business Checking, Business Savings, Business Lending, Merchant Services, Business Money Market, and Business CDs. Additional services include shared branching networks (CO-OP and Xtend), Zelle for payments, mobile banking apps, and community-focused programs such as scholarships. The credit union operates from headquarters in Manistee, Michigan with branches in Bear Lake, Parkdale, and Ludington.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Savings Accounts
• Personal Checking Accounts

Quantifiable outcome

• 4.50% APY on 75th Anniversary CD Special for new money deposits

Named customers2 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

Integration5 records

Feature2 records

Partnerships

Six partnerships are on record, tiered core and minor.

• CO-OP Shared BranchingcoreChannel Partner/ Reseller/ DistributorFiler Credit Union partners with CO-OP Shared Branching to provide members access to thousands of ATMs and branches nationwide. This partnership extends their physical service footprint beyond their four Michigan branch locations.
• Xtend Shared BranchingcoreChannel Partner/ Reseller/ DistributorFiler Credit Union partners with Xtend Shared Branching to provide additional shared branching services, complementing their CO-OP partnership to offer members comprehensive nationwide access to banking services.
• VisacoreTechnology or IntegrationFiler Credit Union issues Visa credit cards to members, including starter VISA options ($500 min/max for those with no credit) and rewards credit cards. Visa provides the payment network infrastructure for these card products.
• Intuit TurboTaxminorGTM or Marketing PartnerFiler Credit Union offers member savings on Intuit TurboTax through the Love My Credit Union rewards program, providing tax preparation discounts to members.
• H&R BlockminorGTM or Marketing PartnerFiler Credit Union offers member savings on H&R Block tax preparation services through the Love My Credit Union rewards program.
• I Love My Credit Union RewardsminorGTM or Marketing PartnerFiler Credit Union participates in the I Love My Credit Union Rewards program, offering members access to various partner discounts including Intuit TurboTax, H&R Block, and other financial services.

Scale indicators3 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Honor Credit Union: Michigan-based community credit union serving retail consumers and small businesses with a comparable branch and digital banking model. Highly comparable in geography, scale, and product mix.
• Community Financial Credit Union: Plymouth, Michigan community credit union offering a similar suite of consumer and business banking products. Member-owned cooperative with comparable product breadth and community focus.
• TBA Credit Union: Traverse City-based community credit union serving northern Michigan consumers and small businesses with comparable deposit and lending products. Closely matched footprint to Filer's western Michigan territory.
• Genisys Credit Union: Auburn Hills-based Michigan community credit union offering personal and business banking, mortgages, and credit cards. Comparable full-service cooperative model with multi-branch presence.
• Extra Credit Union: Michigan community credit union serving consumers and small businesses with a similar deposit, lending, and digital banking mix. Directly comparable community-cooperative structure.
• Wildfire Credit Union: Saginaw-area Michigan community credit union with comparable personal and business banking offerings. Closely aligned cooperative model and member service orientation.
• Advia Credit Union: Michigan community credit union providing full-service personal and business banking across multiple branches. Similar cooperative model and community orientation to Filer.
• Members Credit Union: Grand Rapids-area community credit union offering personal and business banking, loans, and shared branching access. Operates with a similar community-cooperative value proposition in Michigan.

Broad incumbents

• Michigan State University Federal Credit Union: Large Michigan-based credit union serving a broad membership across consumer and business segments. Comparable product suite but much larger scale and broader geographic footprint than Filer.
• Lake Michigan Credit Union: Michigan's largest credit union with statewide branch network and full-service consumer/business banking. Operates in the same regulatory and product category but at materially greater scale and geographic breadth.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

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 Filer Credit Union