Profed Credit Union

What Profed Credit Union does

ProFed Federal Credit Union is a federally chartered, member-owned cooperative financial institution headquartered in Fort Wayne, Indiana, founded in 1933 as Fort Wayne Teachers Credit Union and now serving consumers and small businesses across nine Northeast Indiana counties (Adams, Allen, DeKalb, Huntington, LaGrange, Noble, Steuben, Wells, and Whitley). The credit union operates 13 branch locations, a web and mobile digital banking platform (iOS and Android), Video Teller Machines, and access to over 37,000 surcharge-free ATMs through the Alliance One and MoneyPass networks, with membership eligibility tied to residence, work, worship, schooling, volunteering, or regular business activity in the defined community charter.

Its product portfolio spans deposit products (Member Savings, Youth Savings, Money Market, Club Accounts, Checking variants, Certificates, IRAs, HSAs), consumer and commercial lending (auto loans at rates as low as 4.29% APR, mortgages including a $475 Rapid Refi product, construction loans, home equity, personal loans, Quick Cash, pledge and prime line of credit, business loans and SBA products, boat/RV loans), Visa credit and debit cards (including a 2.50% cash-back rewards card), and adjacent services delivered through a Credit Union Service Organization (ProFed Financial Advisors for investment advisory and life insurance) and partner ecosystem (TruStage insurance, Visa SavingsEdge, Credit Union Travel, Trust & Will, TurboTax, H&R Block, QuickBooks and Quicken integration). The Money Sense financial education platform and Credit Starter program address financial literacy and credit-building for youth and young adults.

ProFed generates revenue primarily through interest income on its loan portfolio, dividends paid on member deposits, transaction and account fees (e.g., $10 monthly business checking fee, $0.20 per item over 200 transactions, $30 Skip-A-Payment, $25 Quick Cash application fee), and commissions from insurance and financial-advisory partnerships. Distribution is omnichannel: direct-to-consumer via 13 branches and digital banking, supplemented by a sales-led inside-sales motion (phone support, online appointment scheduling, in-person loan officer consultations). The credit union emphasizes local decision-making, member ownership, community engagement (Riley Children's Hospital partnership, Habitat for Humanity, Fort Wayne Zoo sponsorships), and competitive rates versus traditional banks. CEO Nina Baker leads the organization. The credit union is federally insured by the NCUA (NMLS# 490949) and has no parent company, outside equity ownership, or public listing.

Name

Profed Credit Union

Legal name

ProFed Federal Credit Union

Website

https://profedcu.org

Company type

Private

Founded year

1933

Operating status

Operating

Headcount range

51–100 employees

Short description

ProFed Federal Credit Union is a member-owned, federally chartered credit union founded in 1933, serving consumers and small businesses across nine Northeast Indiana counties through 13 branches, digital and mobile banking, and a partner ecosystem for insurance, investments, and financial education.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Functions Related To Depository Banking, Nec (6099), National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industry

General Purpose Credit Cards (FSAKABAA)

Keywords

• Retail banking services
• Consumer lending
• Mortgage loans
• Credit union services
• Small business banking

Headquarters

HQ city

Fort Wayne

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: ProFed generates primary revenue through interest earned on lending products including mortgages, auto loans, personal loans, credit cards, home equity loans, and business loans. The credit union offers competitive rates with promotional pricing on auto loans (as low as 4.29% APR) and special certificate rates.
2. Interest Expense Paid on Deposits: As a credit union, ProFed pays dividends to members on deposit accounts including savings, checking, money market accounts, and certificates. Rates vary from 0.05% APY on basic savings to 3.46% APY on special 24-month certificates.
3. Fee Income: Fees from various services including $10 monthly maintenance on business checking (waivable with $1,000 balance), $0.20 per item over 200 transactions, $30 Skip-A-Payment fee, $25 Quick Cash application fee, and various loan-related fees.
4. Financial Services Revenue: Revenue from TruStage insurance products (GAP, Debt Protection, Mechanical Repair Coverage, Home/Auto Insurance), ProFed Financial Advisors investment services, and other financial products offered through partnerships.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

ProFed Federal Credit Union is a member-owned cooperative financial institution offering deposit products (savings, checking, money market, certificates, IRAs, HSAs), consumer and business lending (auto, mortgage, home equity, personal, boat/RV, business loans), credit cards (Visa Rewards, Visa Platinum, Visa Business), and digital banking. It serves individuals, small businesses, and employers across nine Northeast Indiana counties through 13 branch locations and a mobile/web digital banking platform, complemented by financial education and investment advisory services.

Product overview

ProFed Credit Union is a multi-product financial institution offering a unified banking platform with interconnected products across personal and business segments. The core ProFed Digital Banking platform serves as the central hub for account access, while Business Digital Banking extends capabilities to commercial members. The product portfolio encompasses deposit products (Savings, Checking, Certificates, IRAs, HSAs), lending products (Auto Loans, Home Loans/Mortgages, Construction Loans, Personal Loans, Boat/RV Loans, Business Loans), credit cards (Visa Rewards, Visa Platinum, Visa Business), and value-added services (Money Sense financial education, Credit Starter program, Loan Protection, ProFed Financial Advisors investment services, and Employee Benefits packages). The Member Auto Center provides integrated car shopping. Products are designed to work together, such as Credit Starter building toward product eligibility and Money Sense supporting financial literacy across all offerings.

Differentiator

Problem solved

Functional benefit

Brands

• ProFed Financial Advisors: A CUSO (Credit Union Service Organization) that offers high quality, affordable investment advisory services, and life insurance alternatives.

Products and services

• ProFed Digital Banking Core online and mobile banking platform enabling members to access accounts, transfer funds, pay bills, deposit checks, set alerts, monitor credit scores, and manage cards (lock/unlock, travel notifications) from any device.
• Business Digital Banking Digital banking platform for business accounts offering account management, ACH payments and collections, payroll origination, multiple user controls, bill pay, mobile deposit, and email/text alerts with QuickBooks/Quicken integration.
• ProFed Visa Rewards Credit Card Credit card offering 2.50% cash back rewards on purchases, variable rate as low as 12.49% APR, and no annual fee. Rewards paid monthly to primary savings account in $25 increments.
• ProFed Visa Platinum Card Standard credit card with competitive rates for members seeking typical credit card services.
• ProFed Visa Business Credit Card Business credit card with low interest rates, no annual fee, split line of credit for employee spending limits, and access to Visa SavingsEdge for automatic cashback on business expenses.
• Visa Debit Card Personal debit card for point-of-sale purchases, ATM access, and mobile wallet support via Apple Pay and Google Pay with fraud protection and zero liability policy.
• Visa Business Debit Card Business debit card with fraud monitoring, contactless checkout, advanced security features, and Visa Zero Liability protection for unauthorized transactions.
• Savings Accounts Personal savings products including Member Savings, Youth Savings, Club Accounts, and Money Market Plus Savings with competitive dividend rates.
• Certificates Term deposit accounts including standard certificates (3-60 months), the Soaring Certificate (24-month, 3.46% APY promotional), and EZ Saver Certificates with various minimum balance requirements.
• IRAs
• Checking Accounts Personal checking products including Student Checking, eChecking, Simple Checking, and Checking Plus with various fee structures and features.
• Health Savings Accounts (HSAs) Tax-advantaged healthcare savings accounts for members with high-deductible health plans, featuring no minimum balance, no fees, and Visa Debit card access.
• Auto Loans Vehicle financing for new and used cars with promotional rates as low as 4.29% APR, terms up to 84 months, and pre-approval options. Includes new car loans, used car loans, and auto loan refinancing.
• $475 Rapid Refi Mortgage Streamlined mortgage refinance program with $475 closing costs, available for 10 and 15-year terms, non-escrow, first lien only.
• Construction Loans
• Home Loans / Mortgages
• Personal Loans
• Boat & RV Loans
• Business Savings
• Business Checking
• Business Loans
• Employee Benefits
• ProFed Financial Advisors
• Member Auto Center (MAC)
• Credit Starter Program
• Money Sense Financial Education

Quantifiable outcome

• Over $650,000 donated to Riley Children's Hospital over 27 years
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature3 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Riley Children's HospitalcoreStrategic or Co-development Partner · 1 January 1998ProFed has proudly partnered with Riley Children's Hospital since 1998. The partnership includes annual Riley Month fundraising every October. In 2025, ProFed raised over $62,000, bringing total contributions over 27 years to over $650,000.
• Habitat for HumanitycoreStrategic or Co-development PartnerProFed has donated thousands of dollars to Habitat for Humanity and helped physically build over five homes for those in need in Northeast Indiana. Each year, employees participate in a panel build in the Main branch parking lot.
• Fort Wayne ZoominorStrategic or Co-development PartnerProFed is proud to have supported the Fort Wayne Zoo and its mission to educate and entertain youth in the community. The zoo has been funded primarily through ticket sales and donations.
• Fort Wayne Football ClubminorStrategic or Co-development PartnerProFed sponsors Fort Wayne Football Club home games as part of community engagement efforts.
• Credit Union TravelminorChannel Partner/ Reseller/ DistributorMembers receive free lifetime access to Credit Union Travel, saving on 1.2 million brand-name hotels worldwide. The $99/year membership fee is waived for all ProFed members.
• TruStage Insurance AgencycoreStrategic or Co-development PartnerProFed offers TruStage insurance products including Guaranteed Asset Protection (GAP) with Deductible Assistance, Debt Protection, Mechanical Repair Coverage, and TruStage Home & Auto Insurance through Liberty Mutual.
• ProFed Financial AdvisorscoreStrategic or Co-development PartnerA Credit Union Service Organization (CUSO) formed in 1987 offering high quality, affordable investment advisory services and life insurance alternatives. Provides portfolio reviews, IRA management, 403(b) assistance, and retirement planning.
• Visa SavingsEdgeminorGTM or Marketing PartnerBusiness credit card holders can link their ProFed Visa Business Credit Card to Visa SavingsEdge for automatic cashback offers on gas, travel, restaurants, and business services.
• Trust & WillminorGTM or Marketing PartnerOnline estate planning service offering ProFed members 20% off any estate plan plus free first-document shipping with step-by-step online guidance.

Scale indicators6 records

Recent moves24 records

Expansion highlights5 records

Direct peers

• Indiana Members Credit Union: Central Indiana-based community credit union offering personal banking, mortgages, business banking, and digital services. Comparable product suite and member-owned model serving Indiana consumers and small businesses.
• Purdue Federal Credit Union: Indiana-based community credit union serving Greater Lafayette and surrounding areas with full personal/business banking and digital channels. Comparable as a community-charter Indiana credit union of similar size and product breadth.
• Teachers Credit Union (TCU): Indiana-headquartered community credit union with full personal and business banking, multiple branches, and digital banking. Most direct comparable as another Indiana community-charter credit union with similar product breadth and member-focused cooperative structure.
• Beacon Credit Union: Indiana-based community credit union serving north-central Indiana with branches in multiple counties, full personal/business banking and digital services. Direct geographic and product overlap with ProFed's Northeast Indiana footprint.
• Elements Financial Federal Credit Union: Indianapolis-based community credit union offering personal banking, mortgages, business banking, and wealth services. Comparable member-owned cooperative model serving Indiana with similar product portfolio.

Broad incumbents

• Flagstar Bank: National bank with a meaningful Midwest retail and mortgage presence. Competes with ProFed in deposit gathering and mortgage origination within Indiana, though with a much broader geographic footprint.
• Old National Bank: Large regional bank with branch network across Indiana, Kentucky, and the Midwest. Competes with ProFed in Northeast Indiana for consumer deposits, mortgages, and small business banking as a broader-portfolio incumbent.

Emerging players

• Forbright Bank: Digital-first bank and CD-focused deposit platform offering competitive deposit products nationwide. Comparable as an emerging competitor using rate-aggressive deposit products to challenge community credit unions' deposit franchise.
• Alliant Credit Union: Large digital-first credit union with nationwide membership eligibility offering full banking products with strong digital UX. Comparable as a member-owned cooperative competitor using digital channels to compete beyond geographic restrictions.

Regional players

• Lake City Bank: Indiana-based regional bank with significant branch presence in northern Indiana, including Fort Wayne. Comparable as a regional financial institution competing for similar small business and consumer deposits in ProFed's service area.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/Profedcu

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

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 Profed Credit Union