The People's Federal Credit Union

What The People's Federal Credit Union does

The People's Federal Credit Union (TPFCU) is a federally chartered, member-owned credit union headquartered in Amarillo, Texas, founded in 1953 to serve residents of the Texas Panhandle. TPFCU operates within a defined field of membership covering Canyon, Childress, Hereford, parts of Amarillo, and Deaf Smith County, and serves over 23,000 members through 4 physical branches (including an on-site branch at the Pantex Plant) and 24/7 digital channels. As a not-for-profit cooperative, earnings are returned to members through better rates, lower fees, and NCUA-backed deposit insurance up to $250,000 plus free Excess Share Insurance up to an additional $250,000.

The credit union offers a comprehensive consumer banking product suite including deposit products (checking, savings, Club Savings, youth Kirby Kangaroo, and Teen Checking), investment products (CDs in 6/12/24-month terms, Traditional IRA, Roth IRA, Coverdell ESA, IRA CDs), and a full lending portfolio (auto up to 72 months, RV, motorcycle, boat, mortgage via High Plains Home Lending CUSO, home equity up to 80% LTV, signature loans up to $15,000, credit builder loans, and a line of credit up to $6,000). Members access accounts through the CU@round online banking platform and the TPFCU Owner mobile app (iOS/Android) with remote deposit capture, mobile wallet integration (Apple Pay, Google Pay, Samsung Pay), CardValet controls, PopMoney P2P payments, and online bill pay. The technology stack is standard credit union infrastructure, with no disclosed AI/ML capabilities.

TPFCU's revenue model is a not-for-profit deposit-spread business supplemented by transaction fees. Primary revenue comes from the net interest spread between loan yields (auto, mortgage, home equity, signature, credit card) and member dividends; secondary revenue includes overdraft fees ($22 per occurrence), Skip-a-Payment fees (~$30 per skipped loan), money orders and teller checks ($1 each), and safe deposit box rentals ($18-$75/year). Distribution combines self-service digital channels (online and mobile), 40,000 surcharge-free ATMs via MoneyPass and CO-OP networks, in-branch service, phone banking, and partnerships with TruStage (insurance), TurboTax (tax software), and Kirby Kangaroo (youth financial education). Mortgage lending is delivered through the High Plains Home Lending CUSO jointly owned with Access Community Credit Union and Texas Plains Federal Credit Union.

Name

The People's Federal Credit Union

Legal name

The People's Federal Credit Union

Website

https://tpfcu.com

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

11–50 employees

Short description

The People's Federal Credit Union is a member-owned, not-for-profit cooperative founded in 1953 and headquartered in Amarillo, Texas, serving 23,000+ members across the Texas Panhandle with consumer banking, lending, mortgages, and digital banking services through 4 branches and a mobile app.

Ownership category

akta.pro rank

Headquarters

HQ city

Amarillo

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from auto loans, mortgage loans, home equity loans, signature loans, RV/boat/motorcycle loans, and credit cards. Primary revenue driver for the credit union.
2. Service and Fee Income: Fees from Skip-a-Payment program ($30 per loan skipped), overdraft/NSF fees ($22 per overdraft), money orders and teller checks ($1 each), wire transfers, safe deposit boxes, and account-related services.
3. Deposit Spreads: As a not-for-profit credit union, earnings are generated from the spread between loan interest rates charged to members and dividend/savings rates paid to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

The People's Federal Credit Union (TPFCU) is a federally chartered, member-owned credit union providing full-service retail banking to individuals and families in the Texas Panhandle. Core offerings include deposit products (checking, savings, club savings, youth/teen accounts, CDs, and IRAs), consumer lending (auto, RV, boat, motorcycle, mortgage, home equity, signature/personal, line of credit, and credit builder loans), credit cards (MasterCard Gold and Platinum), and digital banking tools (CU@round online banking and the TPFCU Owner mobile app). Ancillary services include TruStage insurance, Skip-a-Payment, safe deposit boxes, gift cards, and notary services.

Product overview

The People's Federal Credit Union (TPFCU) is a member-owned, not-for-profit financial institution offering a comprehensive suite of banking products and services through a unified platform architecture. The core product portfolio includes deposit accounts (checking, savings, Club Savings, Teen Checking, and youth Kirby Kangaroo accounts), investment products (Certificates of Deposit and Individual Retirement Accounts including Traditional IRA, Roth IRA, Coverdell ESA, and IRA CDs), and lending products (auto, RV, motorcycle, and boat loans, mortgage loans through High Plains Home Lending partnership, home equity loans, and signature/unsecured personal loans including credit builder and line of credit options). TPFCU also offers MasterCard credit cards with Gold and Platinum tiers, mobile banking via the Owner App and CU@round online platform, and ancillary services including TruStage insurance, Skip-a-Payment program, safe deposit boxes, notary services, and a Financial Wellness Center. All products are interconnected through shared account access, overdraft protection linking, and integrated mobile/online banking.

Differentiator

Problem solved

Functional benefit

Brands

• High Plains Home Lending: A Credit Union Service Organization (CUSO) partnership between The People's Federal Credit Union, Access Community Credit Union, and Texas Plains Federal Credit Union that provides mortgage lending and home financing solutions in the Texas Panhandle.

Products and services

• Personal Checking Account A checking account with no minimum balance requirements and no monthly fees, offering surcharge-free ATM access, online/mobile banking, quarterly dividend payments, and overdraft courtesy protection up to $300. Targeted at individual members in the Texas Panhandle.
• Share Savings Account A foundational savings account requiring a $25 minimum deposit that establishes membership ownership in the credit union. Features tiered APY (0.25%-0.50%), no monthly fees, and quarterly dividend payments for individual members.
• Club Savings Account A goal-based savings account for setting aside funds toward specific financial targets such as holidays, vacations, or planned purchases, with automatic transfer capabilities. Targeted at individual members seeking disciplined saving.
• Kirby Kangaroo Kids Savings Account A youth savings account for children from birth to 12 years old with a $5 minimum deposit, offering membership cards, passbooks, and prize redemption incentives to teach savings habits. Targeted at parents and their young children.
• Teen Checking Account A checking account for teenagers aged 13-17 with parental oversight, featuring a debit card limited to $100 daily ATM withdrawals and parental access to view transactions. Targeted at teens and their parents.
• Certificate of Deposit (CD) A fixed-term savings investment available in 6, 12, and 24-month terms with a $5,000 minimum deposit. Dividend rates range from 3.38% (6-month) to 3.46% (12-month) and 2.72% (24-month), with an early withdrawal penalty. Targeted at members seeking higher-yield, fixed-rate deposits.
• Traditional IRA A tax-advantaged retirement account with potential tax-deductible contributions and tax-deferred growth, requiring a minimum balance of $100 and offering tiered APY. Targeted at individual members preparing for retirement.
• Roth IRA A post-tax retirement savings account offering tax-free growth and tax-free withdrawals in retirement, with no required minimum distributions. Targeted at individual members preparing for retirement.
• Coverdell Education Savings Account (ESA) A tax-advantaged education savings account allowing contributions up to $2,000 per year per child under 18 for primary, secondary, or higher education expenses. Targeted at parents saving for their children's education.
• IRA Certificate of Deposit A high-yield retirement savings certificate with a 12-month term, automatic renewal, and $5,000 minimum deposit offering 3.46% dividend / 3.50% APY with quarterly dividends. Targeted at members combining retirement and CD products.
• Auto Loan Vehicle financing for new and used automobiles with flexible terms up to 72 months, up to 100% financing available, competitive rates, and pre-approval options. Targeted at individual members purchasing vehicles.
• RV Loan Recreational vehicle financing for motorhomes, travel trailers, and campers with low competitive rates, flexible repayment options, and terms up to 72 months. Targeted at individual members purchasing RVs.
• Motorcycle Loan Financing for new and used motorcycles with competitive rates around 8%, fixed rates, and flexible loan terms. Targeted at individual members purchasing motorcycles.
• Boat Loan Financing for boats, pontoons, and personal watercraft with flexible repayment terms ranging from 12 months to 6 years, no prepayment penalties, and eligibility for boats no more than 5 years old. Targeted at individual members purchasing watercraft.
• Mortgage Loan Home financing offered through High Plains Home Lending partnership, including conventional, FHA, VA, and USDA loan options with fixed-rate options and flexible terms. Targeted at members purchasing or refinancing homes.

Quantifiable outcome

• NCUA-insured accounts up to $250,000 plus free Excess Share Insurance for up to an additional $250,000

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• High Plains Home LendingcoreStrategic or Co-development PartnerCredit Union Service Organization (CUSO) partnership between TPFCU, Access Community Credit Union, and Texas Plains Federal Credit Union providing mortgage lending services including conventional, FHA, VA, and USDA loans. NMLS#483415. Provides local mortgage expertise for the Texas Panhandle market.
• TruStage InsuranceminorGTM or Marketing PartnerPartnership offering TruStage auto, home, and life insurance products to TPFCU members with discounted rates. Members can access instant quotes online or speak with licensed agents.
• TurboTax (Intuit)minorGTM or Marketing PartnerPartnership with TurboTax providing member-exclusive discounts on tax filing software to TPFCU members.
• Access Community Credit UnioncoreStrategic or Co-development PartnerPartner in the High Plains Home Lending CUSO, co-owned with TPFCU and Texas Plains Federal Credit Union for mortgage lending services in the Texas Panhandle.
• Texas Plains Federal Credit UnioncoreStrategic or Co-development PartnerPartner in the High Plains Home Lending CUSO, co-owned with TPFCU and Access Community Credit Union for mortgage lending services in the Texas Panhandle.
• The Servion GroupminorStrategic or Co-development PartnerMortgage servicing company partnered with TPFCU to service mortgages for credit union members, operating out of Dallas, TX.
• Kirby Kangaroo (CUSucceed)minorGTM or Marketing PartnerYouth financial education partnership offering Kirby Kangaroo savings program for children from birth to 12 years. Program teaches savings habits through rewards and prize redemption.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Bell Credit Union: Amarillo-based community credit union offering similar deposit, lending, and digital banking products to members in the same Texas Panhandle region. Direct competitor for household and small business accounts.
• Access Community Credit Union: Community credit union and co-owner of the High Plains Home Lending CUSO with TPFCU. Serves overlapping Texas Panhandle market with similar member-owned structure and consumer lending focus.
• Amarillo Community Federal Credit Union: Federal credit union headquartered in Amarillo, TX with comparable member-owned structure, deposit and consumer loan offerings, and overlapping field of membership in the Texas Panhandle.
• Education Credit Union: Texas Panhandle credit union with a field of membership centered on education employees but broadly serving the Amarillo area. Comparable consumer lending, deposit products, and shared local market.
• Texas Plains Federal Credit Union: Federally chartered credit union serving the Texas Panhandle and a partner in the High Plains Home Lending CUSO with TPFCU. Comparable member-owned cooperative model, similar geographic focus, and overlapping field of membership in the Texas Panhandle.

Regional players

• Amarillo National Bank: Major Amarillo-based community bank with comprehensive consumer and commercial banking products. Competes with TPFCU for retail deposits, mortgages, and consumer loans in the Texas Panhandle.
• FirstBank Southwest: Amarillo-based community bank offering deposit accounts, consumer loans, and mortgage products in the same Texas Panhandle market. Direct retail banking competitor.
• Happy State Bank (Legend Bank): Large Texas Panhandle-based community bank offering checking, savings, lending, and mortgage products across the same geographic footprint as TPFCU. Closest for-profit banking competitor in the Amarillo market.

Broad incumbents

• Bank of America (Amarillo branches): National bank with retail presence in the Texas Panhandle offering deposit, credit card, mortgage, and investment products. Broad incumbent competing for the same consumer banking relationships as TPFCU.
• Wells Fargo (Amarillo branches): National bank with retail branch presence in Amarillo offering deposit, lending, mortgage, and digital banking products. Competes for consumer market share but operates at a national scale rather than local community focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ThePeoplesFCU
• Facebookfacebook.com/TPFCU
• LinkedInlinkedin.com/company/the-people's-federal-credit-union

Compliance3 records

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 The People's Federal Credit Union