OHecu

What OHecu does

OHecu, formally The Ohio Educational Credit Union, is a not-for-profit cooperative financial institution chartered in 1933 (originally as the Cleveland Teachers Credit Union) and headquartered at 2921 Community College Avenue in Cleveland, Ohio. It operates four branches across Ohio — Cleveland, Lakewood, Oberlin, and Zanesville — and serves a defined field of membership comprising employees, students, alumni, and retirees from Ohio educational institutions, plus employees of more than 100 Select Employer Group (SEG) partner organizations spanning healthcare, manufacturing, government, and nonprofit sectors. Members are the sole stockholders, governed by a volunteer Board of Directors under cooperative principles.

The core technology platform comprises Next Generation Digital Banking (online and mobile apps), the Toni Touch-Tone Teller automated voice system, and standard card management infrastructure, supported by integrations with VISA, American Share Insurance (ASI), MoneyPass, and Co-op Shared Branch. The product portfolio spans deposit products (checking, savings, Money Market, Term Share Certificates, IRAs), consumer and asset-backed lending (auto, motorcycle, boat/RV, mortgage, HELOC, personal, student loans), and VISA credit and debit cards, with add-on services including IDProtect identity theft monitoring, insurance via TruStage, and a Financial Resource Center.

OHecu's revenue model is structured as a standard credit union net interest margin business supplemented by interchange and fee income. Primary revenue is generated from interest on loans (auto loans at 4.93% APR, VISA credit cards from 9.20% APR, HELOC at 5.99%-9.75% APR, personal loans at 9.20%-14.73% APR) against deposit funding costs (Regular Share Savings APY 0.01%-0.05%, Money Market up to 0.65%, Term Share Certificates up to 3.75%). Secondary streams include VISA interchange and cash advance fees (3% of amount advanced, minimum $10), wire transfer fees, and overdraft-related charges. Customer acquisition combines grassroots SEG employer outreach, digital marketing, social media, and a Refer-a-Friend program, with no external fundraising or equity capital structure.

Name

OHecu

Legal name

The Ohio Educational Credit Union

Website

https://ohecu.com

Company type

Private

Founded year

1933

Operating status

Operating

Headcount range

11–50 employees

Short description

OHecu is a not-for-profit cooperative credit union chartered in 1933, serving Ohio educational institution employees and 100-plus Select Employer Group partners with four branches and a full suite of deposit, lending, and card products.

Ownership category

akta.pro rank

Product category

Credit Union Consumer Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institutions, Not Federally Chartered (6036), Services-Membership Organizations (8600)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Consumer banking services
• Credit union lending
• Deposit account products
• Auto loan financing
• Mortgage loan services

Headquarters

HQ city

Cleveland

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: OHecu generates revenue primarily through interest income on loans including auto loans, mortgages, home equity loans, personal loans, credit cards, and boat/RV loans. The credit union offers competitive rates with APRs ranging from approximately 4.93% for new auto loans to 14.73% for personal lines of credit.
2. Deposit Taking and Interest Payments: OHecu accepts member deposits including checking accounts, savings accounts, Money Market accounts, Term Share Certificates (CDs), and IRAs. The credit union pays interest on these deposits at tiered rates, with Regular Share Savings APYs ranging from 0.01% to 0.05% depending on balance.
3. Fee-Based Services: OHecu generates fee income from various services including wire transfers, overdraft protection (Member Privilege), and other banking services as outlined in the Fee Schedule. Late fees apply for credit card and loan payments.
4. Credit Card Transaction Fees: VISA credit card operations generate revenue through interchange fees on purchases, cash advance fees (3% of amount advanced, minimum $10), and balance transfer fees. Annual percentage rates vary by credit tier from Prime + 3.00% to Prime + 15.00%.

Pricing tiers

Go-to-market motion2 records

Distribution channels8 records

Marketing channels7 records

Core offering

OHecu is a not-for-profit, member-owned credit union that provides consumer retail banking products and services to its members across Ohio. Its core offerings include deposit products (checking, savings, money market, term share certificates, IRAs), consumer and vehicle lending (auto, motorcycle, boat/RV, mortgage, home equity, personal, student loans), VISA credit and debit cards, and 24/7 digital banking channels including online/mobile banking and Touch-Tone Teller voice banking. Members must belong to eligible groups such as educational institution employees, alumni, SEG partner employees, or family of existing members.

Product overview

OHecu is a full-service financial institution organized as a credit union cooperative, offering a comprehensive suite of banking, lending, and financial services. The core product portfolio includes Online & Mobile Banking platform (with Next Gen Digital Banking), deposit products (Checking, Savings, Term Share Certificates, IRAs), and lending products (Auto, Motorcycle, Boat & RV, Mortgage, Personal, Home Equity, and Student Loans). The institution also provides VISA debit and credit cards, Touch-Tone Teller voice banking (Toni), Mobile Wallet, and Card Management services. Premium services include IDProtect identity theft protection for Select Checking accounts, Youth Services, Insurance Products through TruStage partnership, and Financial Resource Center for education. The product architecture operates as an integrated platform where deposit accounts serve as the foundation for relationship-based cross-selling of loans and fee-based services.

Differentiator

Problem solved

Functional benefit

Brands

• OHecu Digital Banking: Next generation online and mobile banking platform with modern, intuitive interface and customizable features.
• Toni (Touch-Tone Teller)
• IDProtect

Products and services

• Auto Loans Vehicle financing for new and used automobiles with rates as low as 4.93% APR, terms up to 84 months, and College Graduate Auto Program options for members.
• Motorcycle Loans Financing for new and used motorcycles with rates starting at 6.71% APR for new 2025 models.
• Boat & RV Loans Marine and recreational vehicle financing for boats up to $100,000 and RVs up to $150,000 with terms up to 180 months.
• Mortgages First mortgage products including fixed and adjustable rate options with 180-day rate lock availability.
• Personal Loans Unsecured personal term loans and lines of credit for various needs with rates starting at 9.20% APR.
• Home Equity Loans Home equity products including Variable Rate HELOC, Fixed Rate HELOC, and Non-Owner Occupied HELOC with LTV-based pricing.
• Student Loans Education financing products for students and parents to fund higher education expenses.
• Checking Accounts Personal checking account products including Select Checking with IDProtect identity theft monitoring services.
• Savings Accounts Savings products including Regular Share Savings, Special Savings, Summer Reserve, Vacation, Holiday, and Money Market accounts.
• Term Share Certificates Certificate deposit products with terms ranging from 3 to 60 months offering tiered interest rates under Gold, Silver, and Standard Rate programs.
• IRAs Individual Retirement Accounts including Traditional, Roth, and Education IRA options with share savings and term certificate variants.
• Credit Cards VISA Platinum credit cards available with or without CURewards points program, with variable rates based on credit tier and no annual fee.
• VISA Debit Card Debit card providing point-of-sale purchases, ATM access, and integration with mobile wallet payment systems.
• Touch-Tone Teller (Toni) Automated voice banking system accessible 24/7 via toll-free number (800-433-TONI) for account inquiries, fund transfers, loan payments, and check withdrawals.
• Insurance Products Insurance offerings including coverage products available through partnership with TruStage and other carriers.

Quantifiable outcome

• New Auto Loan APR as low as 4.93%
• +3 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Four partnerships are on record, tiered minor and core.

• VeleraminorGTM or Marketing PartnerJoint marketing partner listed in OHecu's privacy policy as one of the companies with whom OHecu shares information for joint marketing purposes.
• TruStageminorGTM or Marketing PartnerJoint marketing partner listed in OHecu's privacy policy for insurance products and services marketing.
• Franklin MadisonminorGTM or Marketing PartnerJoint marketing partner listed in OHecu's privacy policy for financial product and service marketing.
• VISAcoreTechnology or IntegrationVISA credit card program offering VISA Platinum cards with CURewards. OHecu issues VISA-branded debit and credit cards with Zero Liability protection for unauthorized transactions.

Scale indicators5 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• KEMBA Financial Credit Union: Ohio-based member-owned credit union serving central Ohio, offering a comparable full suite of deposit, lending, and digital banking services to employer-group and community members. Operates in overlapping Ohio markets and competes for similar SEG-style employer relationships.
• Wright-Patt Credit Union: One of Ohio's largest credit unions, founded to serve the Wright-Patterson Air Force Base community. Comparable occupational/employer-group credit union model with statewide Ohio branch presence and a full deposit/lending product set.
• SchoolsFirst Federal Credit Union: California-based credit union serving school employees and education community — the closest analog to OHecu's educational-employee focus. Operates a similar SEG-style acquisition model for teachers, administrators, and education-adjacent employees.
• First Tech Federal Credit Union: Occupational credit union serving technology and other employer-group members nationwide, with a comparable full product suite (checking, savings, lending, cards, digital). Same SEG-driven, employer-affinity acquisition model applied to a different industry vertical.
• BECU (Boeing Employees Credit Union): Washington-state based credit union originally serving Boeing employees, now open to community members. Large-scale occupational credit union with the same member-owned cooperative structure and comparable full deposit/lending/digital offering.
• Harvard University Employees Credit Union (HUECU): Massachusetts credit union serving Harvard University employees, students, and alumni — the higher-education analog to OHecu's educational SEG model. Same employer-affinity acquisition mechanic and full product suite.

Broad incumbents

• Connexus Credit Union: Large multi-state credit union with community-charter and employer-group membership, offering a full banking/lending product set. Larger, more diversified balance sheet but overlapping SEG and digital banking competition with OHecu in Ohio.
• Lake Michigan Credit Union: Michigan-based community-charter credit union with a similar full-service product portfolio (deposits, mortgages, auto loans, digital banking). Larger asset base but competing for the same retail member wallet in the Midwest.

Others

• Velera (formerly CO-OP Financial Services / PSCU): CUSO providing core processing, payments, and digital banking infrastructure to thousands of credit unions including OHecu (listed as a joint marketing partner). Not a direct competitor, but a key infrastructure/ecosystem dependency for OHecu's digital and card products.

Emerging players

• Alliant Credit Union: Digital-first, nationwide-membership credit union using open/affinity-based eligibility (e.g., organization partnerships) to compete with regional community credit unions. Represents the emerging digital-membership model that pressures traditional SEG-based credit unions like OHecu.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/ohioecu
• Facebookfacebook.com/TheOhioEducationalCreditUnion
• LinkedInlinkedin.com/company/ohecu
• Instagraminstagram.com/theohioeducationalcreditunion

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 OHecu