Homefield Credit Union

What Homefield Credit Union does

Homefield Credit Union is a member-owned financial cooperative founded in 1966 and headquartered in North Grafton, Massachusetts, serving consumers and small businesses in Grafton, Milford, and surrounding communities within its federally chartered field of membership. The institution operates 11-50 employees across physical branches and digital channels, and is federally insured by the NCUA (NMLS ID 797006).

The credit union's core technology is a third-party-powered digital banking stack: online and mobile banking for account management, bill pay, and loan applications; Apple Pay and Google Pay for contactless debit transactions; CardValet for card controls; and Kasasa-branded platforms powering reward checking variants (Cash, Cash Back, Eats, Play) and a linked Kasasa Saver. Loan origination is supported by mortgage and home equity application portals, and credit card issuance is outsourced to Elan Financial Services. Physical footprint is extended through the CO-OP shared branching network and surcharge-free ATMs via Allpoint, effectively giving members nationwide access without owned infrastructure.

Revenue is generated primarily through net interest spread on consumer loans (auto, mortgage, home equity, personal, RV, student, Mass Save HEAT) and deposits (savings, CDs, money market, IRAs), supplemented by transaction-based fee income (account fees, ATM, wire, overdraft) and credit card revenue share with Elan. Pricing on deposits reaches up to 3.750% APY on CDs and 1.50% APY on Kasasa Cash checking (balances up to $25,000), while consumer loan rates start at 4.99% APR for auto, 7.625% APR for RV, and 10.990% APR for unsecured personal loans. The go-to-market model is direct-to-consumer and community-driven, anchored by local event sponsorships, charitable partnerships, and a 60-year operating history that has built regional brand trust.

Name

Homefield Credit Union

Legal name

Homefield Credit Union

Website

https://homefieldcu.com

Company type

Private

Founded year

1966

Operating status

Operating

Headcount range

11–50 employees

Short description

Homefield Credit Union is a member-owned financial cooperative founded in 1966, serving individual consumers and small businesses in Grafton, Milford, and surrounding Massachusetts communities with deposit products, consumer and home loans, and credit cards.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Credit union deposits
• Mortgage and home equity
• Business banking services

Headquarters

HQ city

North Grafton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Revenue generated from interest on loans including auto loans, mortgages, personal loans, home equity loans, and business loans
2. Fee Income: Various fees including account service fees, ATM fees, wire transfer fees, overdraft fees, and loan-related fees
3. Deposit Interest Spread: Income from spread between interest paid on deposits (savings, CDs, checking) and interest earned on loans
4. Credit Card Revenue: Revenue share arrangement with Elan Financial Services for credit card program

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Homefield Credit Union is a member-owned financial cooperative that provides retail banking products and consumer/business lending to members in its Central Massachusetts field of membership. Core offerings include reward and basic checking accounts (Kasasa Cash, Cash Back, Eats, Play), a suite of savings vehicles (Statement Savings, Club, Money Market, CDs, IRAs), consumer loans (auto, personal, RV, student, holiday, Mass Save HEAT), mortgage and home equity loans, Visa debit cards, credit cards via Elan Financial Services, business banking (checking, loans, credit cards), and digital banking (online, mobile, CardValet, Apple Pay, Google Pay) supported by branch, telephone, shared branching, and ATM channels.

Product overview

Homefield Credit Union offers a comprehensive suite of financial products and services centered around traditional banking. The core offerings include multiple Kasasa-branded reward checking accounts (Kasasa Cash, Kasasa Cash Back, Kasasa Eats, Kasasa Play) paired with Kasasa Saver, all powered through a third-party partnership for rewards-based banking. Deposit products encompass statement savings, club accounts (vacation and Christmas), money market accounts, CDs (up to 3.750% APY), and IRAs. Consumer lending includes auto loans with promotional 60-day deferred payment options (as low as 4.99% APR), first-time buyer programs, personal loans (starting at 10.990% APR), recreational vehicle loans (starting at 7.625% APR), student loans, holiday loans ($3,000-$6,500 at 8.99% APR), and Mass Save HEAT loans. Home lending encompasses mortgage loans and home equity products. Card products include Visa debit cards (free with checking) and credit cards through Elan Financial Services partnership. Business banking includes checking, loans, and credit cards. Digital services feature online and mobile banking, while additional services include Auto Advisors (free car-buying advisory service), GAP Plus protection, extended warranty coverage, wire transfers, notary services, safe deposit boxes, and nationwide ATM access through Allpoint Network. The institution is federally insured by NCUA and has served members since 1966.

Differentiator

Problem solved

Functional benefit

Brands

• Banking with a Homefield Advantage: The company's service philosophy emphasizing member-first banking, simplifying financial lives, and helping members achieve financial success.

Products and services

• Free Kasasa Cash® Checking Free reward checking account for individual members that pays up to 1.50% APY on balances up to $25,000 and refunds ATM fees when monthly qualifications are met.
• Free Kasasa Cash Back® Checking Free checking account that earns 2% cash back on everyday debit card purchases (up to $6/month) and refunds ATM fees nationwide when qualifications are met.
• Free Kasasa Eats™ Checking Free mobile-friendly checking account that earns 3% cash back on grocery store and food delivery purchases (up to $9 per cycle), with nationwide ATM fee refunds.
• Free Kasasa Play™ Checking Free checking account that provides refunds on eligible digital streaming subscriptions up to $15 per cycle, plus ATM fee refunds when qualifications are met.
• Free Kasasa Saver® Free savings account linked to Kasasa checking accounts that automatically transfers cash rewards and earns up to 0.75% APY when qualifications are met.
• Statement Savings Interest-bearing savings account with $5 minimum balance, no monthly fees, that establishes membership with a one-share ownership stake at the credit union.
• Club Accounts Vacation and Christmas club savings accounts requiring $5 minimum balance with no monthly fees and automatic balance transfers in October for Christmas accounts.
• Money Market Accounts Savings account option for members seeking higher interest rates with flexible access to funds.
• Certificates of Deposit (CDs) Term deposit accounts offering competitive rates, with a current promotional rate up to 3.750% APY.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts for members planning for retirement.
• Auto Loans Vehicle financing for new and pre-owned vehicles at rates as low as 4.99% APR, available in multiple term lengths (36–84 months).
• 60-Day No Payment Auto Loan Auto loan promotion that lets members defer their first auto loan payment for 60 days, available for new purchases and refinances through June 30, 2026.
• Auto Loans – First Time Buyer Specialized auto financing program designed for members purchasing their first vehicle, with educational and advisory support.
• Personal Loans Unsecured personal loans starting at 10.990% APR for members needing flexible financing.
• Recreational Vehicle Loans Financing for recreational vehicles, including RVs and boats, starting at 7.625% APR.
• Student Loans Education financing options including new student loans and refinancing for college lending.
• Holiday Loan Short-term loan ranging from $3,000 to $6,500 with a maximum 12-month repayment term at 8.99% APR for holiday expenses.
• Mass Save® HEAT Loans Energy efficiency loan program offered through Mass Save® for home heating and energy improvements.
• Mortgage Loans Home purchase financing with competitive mortgage rates and an easy application process.
• Home Equity Loans & Lines of Credit Home equity products allowing members to borrow against their home's equity for major expenses.
• Specialized Loan Products Additional specialized mortgage and loan products for unique financing needs.
• Credit Cards Credit card products provided through partnership with Elan Financial Services, offering a range of rates and rewards to meet diverse member needs.
• Debit Cards (Free VISA) Free VISA debit card provided with checking accounts for everyday purchases and ATM access, with Apple Pay and Google Pay tokenization available.
• Business Checking Accounts Business checking accounts designed for small and medium local businesses with tools to help fund and grow the business.
• Business Loans Loan products specifically designed for business financing needs of local small and medium businesses.
• Business Credit Cards Credit card products tailored for business spending and rewards.
• Online Banking & Bill Pay Digital banking platform allowing members to manage accounts, pay bills, transfer funds, and complete loan applications online.
• Mobile Banking Mobile banking application enabling members to access accounts and conduct transactions from smartphones and tablets, including CardValet card management.
• Auto Advisors (Free Car-Buying Advisory Service) Free car-buying advisory service offered through partnership with Auto Advisors, providing dedicated advisors 7 days a week who assist members from affordability assessment through dealership visits.

Quantifiable outcome

• Auto loan rates as low as 4.99% APR for qualified borrowers
• +3 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

Five partnerships are on record, tiered minor and core.

• Jerry's Bait & TackleminorOthers · 16 April 2026Local business partnership for community event sponsorship of the annual MyFM 101.3 Fishing Derby at Louisa Lake in Milford, bringing families together for community fun and fishing.
• Elan Financial ServicescoreTechnology or IntegrationStrategic partnership through which Homefield Credit Union provides credit cards to members. Elan provides the underlying credit card technology, processing, and service infrastructure while Homefield offers cards to its membership base with competitive rates and terms.
• Auto AdvisorscoreStrategic or Co-development PartnerFree car-buying advisory service for Homefield Credit Union members. Auto Advisors provides dedicated advisors 7 days a week to help members with all aspects of car purchases, from affordability assessment to dealership accompaniment. Doug Lanzillo, VP Business Development, leads the relationship.
• Allpoint NetworkminorChannel Partner/ Reseller/ DistributorATM network partnership providing Homefield members access to surcharge-free ATMs nationwide through the Allpoint network locator.
• CO-OP Shared BranchingminorChannel Partner/ Reseller/ DistributorShared branching network allowing Homefield members to conduct transactions at thousands of credit union branches nationwide and access a wide ATM network.

Scale indicators3 records

Recent moves6 records

Expansion highlights4 records

Others

• Kasasa: Third-party rewards-checking platform that powers Homefield's Kasasa Cash, Cash Back, Eats, and Play products. Comparable as an ecosystem enabler rather than a competitor — shared infrastructure across the community credit-union industry.
• CO-OP Financial Services: Shared-branching and ATM network provider that Homefield Credit Union uses to deliver nationwide branch access to its members. Serves as critical infrastructure for thousands of credit unions of Homefield's size and profile.

Direct peers

• Digital Federal Credit Union (DCU): Massachusetts-headquartered credit union (Marlborough) offering a comparable member-owned, full-service banking proposition including high-yield checking, consumer lending, mortgages, and digital channels. Larger than Homefield but the most direct credit-union counterpart in the same state.
• Leominster Credit Union: Community credit union operating in North Central Massachusetts with a similar field-of-membership model, full-service deposit and consumer lending products, and shared-branching network participation. Closely comparable in scale and operating philosophy.
• Workers Credit Union: Massachusetts-based community credit union serving similar consumer and small-business segments across Central MA and the Greater Worcester region. Comparable product mix including checking, mortgages, auto loans, and shared-branching participation.
• St. Mary's Credit Union: Massachusetts community credit union providing consumer and mortgage lending, deposit products, and digital banking to members in the Greater Marlborough/MetroWest region — overlapping Homefield's geographic and product footprint.
• Avidia Bank: Community bank with branches across the MetroWest and Central Massachusetts corridor overlapping Homefield's service area. Provides comparable consumer deposit, mortgage, and small-business products, competing for the same local households and SMBs.
• Central One Federal Credit Union: Headquartered in Shrewsbury, MA — geographically adjacent to Homefield's Grafton footprint — Central One is a community-chartered credit union offering a similar suite of deposit, consumer lending, and digital banking products to Massachusetts residents. Directly comparable in size, charter type, and target market.
• Middlesex Savings Bank: Mutual savings bank serving MetroWest Massachusetts with consumer checking, savings, mortgage, and small-business products. Operates in overlapping geographies and competes for similar member/customer profiles to Homefield Credit Union.

Broad incumbents

• Rockland Trust: Massachusetts-headquartered community-focused commercial bank with broad branch coverage across the state including the Grafton/MetroWest region. Offers a wider product portfolio than Homefield, positioning it as the dominant local incumbent competing for the same households and SMBs.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks1 record

Key highlights7 records

Customer concentration

• Facebookfacebook.com/homefieldcu
• LinkedInlinkedin.com/company/grafton-suburban-credit-union

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Homefield Credit Union