Altra Federal Credit Union

What Altra Federal Credit Union does

Altra Federal Credit Union is a federally chartered, member-owned cooperative financial institution founded in 1931 and headquartered in Onalaska, Wisconsin. The credit union serves individual consumers, families, small-to-medium businesses, and youth/student segments across six states — Wisconsin, Minnesota, Tennessee, Texas, Colorado, and New Jersey — through 20+ owned branch locations, branded SAM-e Smart ATMs, an online and mobile digital banking platform, and a dedicated business banking team. Member access extends materially beyond the owned footprint via the Co-Op shared branch and surcharge-free ATM network, which provides reach to 5,000+ branches and 30,000+ ATMs nationwide. Subsidiaries include the Altra Foundation (community foundation and scholarship provider) and Altra Financial Advisors (wealth management delivered through a partnership with LPL Financial).

The credit union's product portfolio spans personal and business banking: multiple checking variants, tiered savings, certificates, IRAs, HSAs, consumer loans (auto, boat/RV, personal, home equity, HELOC, mortgage), business lending (SBA, lines of credit, commercial real estate, working capital), Visa-branded credit cards, merchant credit card processing, direct deposit, and TruStage-routed insurance products. The technology stack is anchored by a digital banking platform with iOS and Android mobile apps supporting biometric authentication, mobile deposit, bill pay, e-statements, card controls, alerts, Apple Pay and Google Pay integration, and instant external account verification. Integration partners include Visa, DocuSign, Quicken, QuickBooks, and MyInsuranceInfo.com. The only disclosed AI capability is Ace, a 24/7 text-based virtual assistant on the website that performs natural-language knowledge retrieval to answer member queries and route them to resources.

Revenue generation is primarily through interest income on the loan portfolio (consumer and commercial), deposit interest spreads and account-related fees, credit card interchange and transaction fees, business services fees (processing, direct deposit), and affiliate/referral revenue from TruStage insurance and LPL Financial investment products. As a not-for-profit cooperative, excess earnings are returned to members through competitive loan rates, higher savings dividends, and reduced fees rather than distributed to external shareholders, and savings are federally insured up to at least $250,000 by the NCUA.

Name

Altra Federal Credit Union

Legal name

Altra Federal Credit Union

Website

https://altra.org

Company type

Private

Founded year

1931

Operating status

Operating

Headcount range

251–500 employees

Short description

Altra Federal Credit Union is a federally chartered, member-owned cooperative founded in 1931, serving individual consumers, families, small businesses, and youth across six states through 20+ branches, digital banking, smart ATMs, and partnerships delivering lending, deposit, investment, and insurance products.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industries

Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Credit union deposits
• Commercial lending
• Financial wellness programs

Headquarters

HQ city

Onalaska

HQ country

United States

HQ region

North America

Offices20 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Altra generates primary revenue through interest earned on various loan products including auto loans, mortgages, home equity loans, personal loans, credit cards, and business loans. As a credit union, excess earnings are returned to members through better rates on loans and higher dividends on deposits.
2. Certificate and Savings Account Fees: Fees and interest spread from savings accounts, certificates of deposit, IRAs, tiered savings accounts, and health savings accounts.
3. Credit Card Revenue: Transaction fees, interest charges, and interchange fees from Visa credit card products including rewards programs.
4. Business Services Fees: Credit card processing services for businesses, direct deposit services, and business credit cards generating transaction and processing fees.
5. Insurance and Investment Referrals: Revenue from TruStage insurance products (auto, home, life, AD&D insurance) and Altra Financial Advisors investment services offered through LPL Financial partnership.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Altra Federal Credit Union is a member-owned cooperative financial institution providing deposit accounts (checking, savings, certificates, IRAs, HSAs), consumer and commercial lending (auto, mortgage, home equity, personal, SBA, commercial real estate), credit cards, digital banking, and financial wellness services. It generates revenue primarily through net interest income on loans and deposit spreads, supplemented by credit card interchange, merchant processing, and insurance/investment referral fees.

Product overview

Altra Federal Credit Union operates as a multi-faceted financial services institution offering a comprehensive suite of products across personal, business, and investment categories. The core platform is Digital Banking, a unified online and mobile banking system that serves as the primary interface for account management, loans, payments, and financial tools. Personal banking includes multiple checking account variants (A+ Accounts, Free Checking, Live Your Life for youth), savings accounts with tiered rates, certificates with various terms including Thrive and Youth-specific offerings, IRA products (Savings and Certificates), and Health Savings Accounts with companion HSA Certificates. The lending portfolio spans consumer loans (Drive Altra auto loans, boat/RV/ATV, personal loans), real estate financing (Altra Home mortgages, home equity loans and HELOCs, Rapid Refi), student loans, and business lending (SBA, lines of credit, commercial real estate). Credit card offerings include Visa-branded products with rewards programs. Business banking encompasses deposits, lending, and services including credit card processing and direct deposit. Investment and insurance products are delivered through partnerships—Altra Financial Advisors for wealth management via LPL Financial, and TruStage for insurance (auto/home, life, AD&D). Additional services include SAM-e smart ATMs, Ace AI assistant, financial wellness coaching, estate planning tools, and payment protection products.

Differentiator

Problem solved

Functional benefit

Brands

• Altra Financial Advisors: Wealth management and financial advisory services including retirement planning, investment services, and estate planning offered through partnership with LPL Financial.
• Altra Foundation
• Altra Gives
• SAM-e

Products and services

• Digital Banking Primary online and mobile banking platform enabling account management, bill payment, fund transfers, mobile deposit, and account alerts for individual members and account holders.
• A+ Accounts (Checking) High-yield checking accounts with no minimum balance, no monthly fees, and free debit card with rewards for individual members.
• Free Checking No-fee checking account with convenient features for managing everyday finances for individual members.
• Live Your Life Checking Spending account for members ages 10-23 designed to avoid fees and earn rewards for debit card usage.
• Visa Debit Card No-fee Visa debit card offering merchant discounts and instant issue availability for individual members.
• Certificates Fixed-rate certificate investments with 6- to 60-month terms, competitive tiered dividend rates, and $1,000 minimum deposit for individual members and savers.
• Thrive Certificate Limited-time offer certificate with enhanced dividend rates for members looking to grow savings.
• Youth Certificates Certificate investments designed for youth with low minimum deposits and favorable rates to encourage early saving.
• IRA Savings Individual Retirement Account savings with tax-advantaged contributions for retirement planning.
• IRA Certificates Certificate investments held within an IRA for tax-advantaged retirement savings with fixed rates.
• Savings Accounts Basic savings accounts with automatic deposit capability and overdraft protection options for individual members.
• Tiered Savings Accounts Money market savings accounts with competitive rates, monthly dividends, and immediate access to funds.
• Health Savings Accounts (HSA) Tax-advantaged savings accounts for healthcare expenses with no fees, no minimum balance, and free debit card for HSA-qualified plans.
• HSA Certificate 12-month certificate option for HSA funds earning higher dividends with $5,000 minimum balance.
• M3 Money Club Youth financial education and savings program teaching money management skills to children.
• Elements of Money Youth financial literacy platform helping young members learn budgeting and saving concepts.
• Youth Savings Rewards Savings incentive program rewarding youth members for making smart financial choices.
• Drive Altra (Auto Loans) Auto, truck, and motorcycle financing with competitive rates and online application process for individual members.
• Boat, RV & ATV Loans Financing options for recreational vehicles including boats, RVs, and all-terrain vehicles.
• Personal Loans & Lines of Credit Flexible borrowing options for various personal needs with competitive rates.
• Home Equity Loans Fixed-rate loans using home equity for home improvements, tuition, debt consolidation, and other major expenses.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity for flexible access to funds as needed.
• Rapid Refi Mortgages 10- and 15-year fixed-rate mortgage refinancing options for quick payoff.
• Student Choice Loan Program Credit union student loans to supplement federal aid for higher education expenses.
• Altra Home (Mortgage) Home Your Way mortgage platform for buying, building, or refinancing with various loan options and lender guidance.
• Altra Visa Credit Cards Visa-branded credit cards including Signature, Platinum, and student options with rewards and travel benefits.
• Double Points Gas & Dining Credit Card Credit card offering double reward points on gas and dining purchases.
• Business Banking Comprehensive business banking services including deposits, lending, and credit card processing for small to medium-sized businesses.
• Business Checking & Debit Card Business checking accounts with cash access at ATMs worldwide, no annual fee, and reward points on purchases.
• Business Health Savings Account HSA accounts designed for business owners to provide healthcare benefits to employees.
• Business Tiered Savings & Certificates Business savings with competitive rates, monthly dividends, and unlimited deposits and withdrawals.
• SBA Lending Small Business Administration loan programs supporting diverse needs of small business owners.
• Business Lines of Credit Revolving credit lines specially designed for business financing needs.
• Working Capital & Term Loans Single-pay loans, revolving lines of credit, and term loans for machinery, equipment, vehicles, or improvements.
• Commercial Real Estate Financing Full range of commercial real estate mortgage loans with various terms structured to save time and money.
• Credit Card Processing Merchant services enabling businesses to accept members' preferred payment methods.
• Direct Deposit Services Payroll management services providing convenience, flexibility, and choice for business deposit operations.
• Business Credit Card Business credit cards with individual limits for business owners and employees to manage business spending.
• Altra Financial Advisors Wealth management and retirement planning services including 401(k), IRA, mutual funds, managed accounts, annuities, and estate planning through LPL Financial partnership.
• Guided Wealth Portfolios Investment management service helping members pursue financial objectives through personalized portfolios.
• TruStage Auto & Home Insurance Auto and home insurance program with discounted rates exclusively for Altra members through TruStage partnership.
• TruStage Life Insurance Term and whole life insurance options designed to be simple and affordable for family protection.
• TruStage AD&D Insurance Accidental Death & Dismemberment insurance providing $2,000 no-cost coverage with optional additional family coverage.
• Altra Estate Planning Digital estate planning tool through One Digital Trust partnership for creating wills, power of attorney, trusts, and secure document storage.
• Personal Choice Payment Protection Loan protection that may cancel loan balance or payments for involuntary unemployment, disability, or death.
• GAP Insurance Guaranteed Auto Protection covering the difference between vehicle value and loan balance if car is totaled or stolen.
• Major Mechanical Protection (MMP) Vehicle protection policy covering costly repairs to keep vehicles running.
• Lending Center Centralized platform for electronic loan applications, document submission, and lending services accessible anytime.
• Mobile App Digital Banking mobile application for iOS and Android enabling account management, transfers, bill pay, and mobile deposit.
• SAM-e Smart ATM Smart 24/7 deposit and loan payment-taking ATM capable of cash withdrawals, check deposits, cash deposits, balance checks, fund transfers, and loan payments.
• Financial Wellness Program Comprehensive financial wellness initiative with coaching, calculators, educational podcasts, and resources for save, spend, borrow, and plan categories.
• Financial Coaching Certified financial coaching services helping members with credit improvement, savings goals, and long-term financial planning.

Quantifiable outcome

• Nearly half of Altra members who participated in the Financial Wellness Quiz scored as being financially healthy, compared to only 35% nationally.
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability2 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Co-Op Credit UnionscoreChannel Partner/ Reseller/ DistributorCo-Op Credit Unions provides the shared branch and surcharge-free ATM network allowing Altra members to access their accounts at 5,000+ branches and 30,000+ ATMs nationwide. This partnership extends Altra's physical presence far beyond its own branch network.
• TruStagecoreGTM or Marketing PartnerTruStage is the marketing name for TruStage Financial Group, Inc. offering insurance products exclusively to credit union members including auto, home, life, accidental death & dismemberment insurance. Altra refers members to TruStage for insurance products as a preferred partner.
• LPL FinancialcoreGTM or Marketing PartnerLPL Financial is a registered investment advisor and broker-dealer providing investment services through Altra Financial Advisors. LPL offers IRA, mutual funds, managed accounts, annuities, stocks & bonds, and retirement planning services to Altra members. Licensed advisors serve members across 12 states.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerGreenPath Financial Wellness provides financial education resources, counseling services, debt management programs, and calculators accessible to Altra members. Partnership enhances Altra's financial wellness offerings and educational content.
• VisacoreTechnology or IntegrationVisa provides the payment network infrastructure for Altra's credit cards (Visa Signature, Visa Credit) and debit cards, enabling global acceptance and transaction processing.
• CBS Investment ServicesminorGTM or Marketing PartnerCBS Investor Connection provides IRA investment solutions and investment calculators through Altra's website, enhancing retirement planning resources for members.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Connexus Credit Union: Wisconsin-headquartered community credit union with comparable multi-state digital-first strategy and similar breadth of consumer and mortgage products. Overlaps with Altra on personal banking, lending, and digital experience focus.
• Royal Credit Union: Wisconsin-based community credit union of similar size and scope, offering checking, savings, lending, business banking, and wealth services. Strong geographic overlap with Altra in the Upper Midwest and similar member-owned value proposition.
• UW Credit Union: Wisconsin-based credit union offering personal, business, and investment products with similar multi-channel service model. Closely comparable on cooperative structure, community focus, and breadth of consumer/commercial offerings.
• Bellco Credit Union: Colorado-based community credit union operating multiple branches with full personal/business banking and lending services. Directly comparable multi-state community credit union model and product breadth.
• Truliant Federal Credit Union: Multi-state federal credit union with similar consumer and business banking product mix and comparable branch-and-digital distribution strategy. Useful proxy for Altra's expansion trajectory into non-core geographies.
• Digital Federal Credit Union (DCU): Federally chartered, multi-state credit union with strong digital banking platform and broad consumer/business lending offerings. Comparable on digital-first delivery alongside physical branches and a member-owned structure.
• Alliant Credit Union: Large federally chartered, digital-first credit union with nationwide membership and full suite of consumer, auto, and mortgage products. Comparable cooperative model with emphasis on competitive digital rates and member value.
• SchoolsFirst Federal Credit Union: Large federally chartered credit union with comprehensive personal and business banking, lending, and investment services. Comparable breadth of products, employer/occupation-based membership model, and member-centric value proposition.
• Patelco Credit Union: California-based federal credit union with multi-state membership, full personal/business banking, mortgage, and investment services. Comparable scale, member-owned structure, and breadth of consumer and commercial offerings.

Broad incumbents

• U.S. Bank: Major national bank headquartered in Minneapolis with significant Wisconsin presence, offering the full spectrum of consumer, business, mortgage, and wealth products at much greater scale. Relevant benchmark for competitive dynamics and digital capability gaps.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/AltraCU
• YouTubeyoutube.com/user/AltraFederalCU
• Facebookfacebook.com/altra.org
• LinkedInlinkedin.com/company/altra-federal-credit-union
• Instagraminstagram.com/altracu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries2 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 Altra Federal Credit Union