District #6 Federal Credit Union

What District #6 Federal Credit Union does

District #6 Federal Credit Union is a federally chartered, member-owned, not-for-profit cooperative financial institution headquartered at 107 Broadway in Hornell, New York. Founded on February 24, 1936 as District #6 New York State Highway Employees and renamed in 1969, it operates under NCUA oversight with Charter No. 1080 and serves a defined field of membership covering residents of the City of Hornell and Town of Canisteo, employees of specific New York State agencies (DOT, Labor, Health, State Police, OGS, DEC, Division of Military Affairs), and employees of select regional employers such as Gunlocke Company. The credit union runs a traditional deposit-and-lending franchise with five staff members, offering share (savings) accounts, share draft (checking) accounts, share certificates, IRAs, and a full lending suite including personal, vehicle, motorcycle, collateral, home equity, debt consolidation, and share-secured loans, plus referral-based private student loans through a Sallie Mae partnership.

The credit union's technology is entirely built on third-party vendor infrastructure: a Fiserv-powered Mobiliti mobile application for real-time balances, transfers, mobile deposits, and card management; a Financial Net-hosted online banking platform; 24-hour automated telephone banking; and Allpoint/MoneyPass ATM network memberships providing surcharge-free access to 50,000+ U.S. locations. Member accounts are federally insured by NCUSIF up to $250,000. Service delivery is single-branch (Monday–Friday 7:30am–4:00pm) with curbside assistance for seniors and members with disabilities.

Revenue is generated primarily through net interest margin on the lending book (vehicle loans from 4.50% APR, personal loans at 6.75%, home equity 4.75%–7.25%, collateral at 6.50%, debt consolidation at 8.99%), supplemented by transaction-based service fees (NSF $30, wire transfers $20–$30, stop payment $15–$30, debit card replacement $10–$15) and interchange on Visa debit card transactions. The go-to-market is community-led: organic growth via word-of-mouth, employer-group eligibility relationships, and local brand presence ("Your Hometown Credit Union. Where Members Matter") rather than paid acquisition. Distribution spans branch, mobile, online, and nationwide ATM network channels.

Name

District #6 Federal Credit Union

Legal name

District #6 Federal Credit Union

Website

https://district6fcu.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

1–10 employees

Short description

District #6 Federal Credit Union is a federally chartered, member-owned not-for-profit credit union in Hornell, NY serving residents of Hornell/Canisteo and select NYS agency and employer workforces with deposit accounts, consumer lending, and digital banking on third-party vendor infrastructure.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Public Sector & Municipal Credit Unions (FSABAEAK)

Keywords

• Retail banking services
• Consumer lending
• Savings accounts
• Credit union services
• Deposit products

Headquarters

HQ city

Hornell

HQ country

United States

HQ region

North America

Offices1 record

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: Primary revenue stream from interest charged on various loan products including personal loans, vehicle loans, home equity loans, collateral loans, and share-secured loans. Interest rates vary by loan type and term length.
2. Service Fees: Fees charged for various banking services including overdraft/NSF fees ($30), late loan payments ($10-$15), wire transfers ($20-$30 domestic/international), notary services, money orders, check orders, and account research.
3. Share Certificate/Dividend Products: Accepts member deposits into share accounts and share certificates, paying dividends at published rates. The spread between loan rates and dividend rates generates revenue.
4. Debit Card Operations: Debit card issuance with replacement fees ($10 standard, $15 instant issue) and interchange revenue from card transactions.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

District #6 Federal Credit Union is a member-owned, not-for-profit financial cooperative that provides consumer banking products including savings accounts, checking accounts, share certificates, and IRAs, alongside consumer lending such as personal loans, vehicle loans, home equity loans, collateral loans, and student loans to members in the Hornell, NY area.

Product overview

District #6 Federal Credit Union operates as a traditional credit union offering a unified suite of financial services centered on deposit accounts and lending products. The core product is membership through Shares (Savings) Accounts ($25 minimum), which enables access to Share Draft (Checking) Accounts, Time Deposits/Certificates (6-30 month terms), and IRA/Roth IRA retirement accounts. Lending products include Share Secured Loans (4.75% APR), Personal Loans (unsecured at 6.75% APR), New/Used Auto and Motorcycle Loans (4.50%-6.25% APR), Collateral Loans (6.50% APR), Home Equity Loans (4.75%-7.25% APR), Student Loans via Sallie Mae partnership, Debt Consolidation Loans (8.99% APR), and Short Term Personal Loans (5.00% APR). Digital banking is delivered through Online Banking (Financial Net), the Mobiliti App (powered by Fiserv), Mobile Deposits, Electronic Bill Payer, and 24-Hour Telephone Banking. Additional services include Visa Debit Cards, Visa Gift Cards, Money Orders, Wire Transfers, Notary Public, Night Depository, and insurance products through TruStage. ATM access is provided via Allpoint and MoneyPass network partnerships.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts Member-owned savings (share) deposit accounts earning dividends, available to credit union members for personal funds accumulation.
• Checking Accounts Transaction (share draft) deposit accounts for everyday personal banking and bill payment, available to credit union members.
• Share Certificates Term deposit (certificate) products offering fixed dividend rates over a defined term for member savings.
• Individual Retirement Accounts (IRAs) Retirement savings accounts for individual members to accumulate tax-advantaged retirement funds.
• Personal Loans Unsecured consumer credit products for personal borrowing needs of credit union members.
• Vehicle Loans Auto financing products for members purchasing new or used vehicles, secured by the vehicle collateral.
• Home Equity Loans Secured consumer credit products using the member's home equity as collateral for borrowing.
• Collateral Loans Secured consumer credit products backed by pledged collateral (e.g., deposits or other assets) for credit union members.
• Student Loans Education financing products for members funding post-secondary education expenses.
• Debit Card Services Payment card products linked to member share draft/checking accounts for point-of-sale and ATM access.

Quantifiable outcome

• Accounts NCUA insured up to $250,000
• +3 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Sallie MaecoreStrategic or Co-development PartnerDistrict #6 FCU partners with Sallie Mae to offer private student loans for members attending degree-granting institutions. Products include Smart Option Student Loans for undergraduates, Graduate School Loans, MBA Loans, Medical School Loans, Dental School Loans, Law School Loans, and Health Professions Loans. District #6 FCU receives referral compensation from Sallie Mae for loan customers referred through their platform.
• Allpoint NetworkcoreTechnology or IntegrationDistrict #6 FCU is a member of the Allpoint Network, providing members access to over 50,000 surcharge-free ATMs across the USA. This network partnership enables fee-free cash withdrawals at Speedway, Target, Walgreens, Wegmans, CVS, 7-Eleven, and other participating ATMs in the Allpoint network.
• MoneyPasscoreTechnology or IntegrationDistrict #6 FCU is a member of the MoneyPass Network, providing additional surcharge-free ATM access across the United States, including 7-Eleven locations. Members can use the MoneyPass ATM locator for fee-free cash access nationwide.
• TruStageminorGTM or Marketing PartnerDistrict #6 FCU links to TruStage insurance products on their Links page, offering members access to Life, Accidental Death & Dismemberment, Auto, and Property insurance. TruStage helps protect the financial future of members' families with affordable insurance policies.
• Kelley Blue BookminorGTM or Marketing PartnerDistrict #6 FCU links to Kelley Blue Book (kbb.com) for members researching vehicle purchases. KBB helps members price new/used vehicles and determine trade-in values for informed auto buying decisions.
• FiservcoreTechnology or IntegrationDistrict #6 FCU's mobile banking application is powered by Fiserv technology. The Fiserv-powered app enables real-time balance viewing, money management, transaction viewing, transfers, alerts, and card management through the Mobiliti platform.

Scale indicators3 records

Recent moves8 records

Expansion highlights4 records

Direct peers

• Empower Federal Credit Union: New York-based federal credit union serving a multi-county geographic field of membership across Central New York with employer groups and community-based membership; directly comparable as a federally chartered community/employer credit union operating in an overlapping New York geography with a similar deposit/loan product set.
• Five Star Bank: Community bank headquartered in Warsaw, NY with a branch network across Western and Central New York including rural counties comparable to Steuben; directly comparable as a community-focused deposit-taker and consumer/SMB lender serving small-town NY geographies with similar product sets (deposits, consumer loans, mortgages, digital banking).
• Cornerstone Community Federal Credit Union: Federal credit union structured around multiple common-bond employer groups and community membership; directly comparable as a small/mid-sized chartered FCU with field-of-membership built on employer sponsorship, member-owned governance and a traditional consumer lending product set.
• Chemung Canal Trust Company: New York state-chartered community bank serving the Southern Tier including Steuben, Chemung and surrounding counties; comparable as a community bank competing for the same household and small-business deposits and consumer loans in the Hornell-adjacent five-county region.
• CFCU Community Credit Union: Not-for-profit, member-owned cooperative credit union headquartered in Ithaca, NY serving Tompkins County and surrounding Finger Lakes geography; comparable as a community-based New York credit union offering deposits, consumer loans, mortgages, and digital banking under NCUA oversight.

Broad incumbents

• M&T Bank: Large regional bank headquartered in Buffalo, NY with a dominant Upstate NY branch and digital franchise including Steuben County; comparable as a federally and state-regulated depository competing in the same consumer deposit, loan and digital banking markets District #6 serves, but at far greater scale.
• ESL Federal Credit Union: One of the largest federal credit unions in New York, headquartered in Rochester and serving the broader Finger Lakes/Western NY region; comparable as a federally chartered, member-owned consumer credit union operating in an overlapping Western New York geography, but at materially greater scale, branch count and product breadth than District #6.
• Community Bank, N.A. Large Upstate New York community bank with broad deposit, consumer lending, mortgage and digital banking franchise across Western/Central NY; comparable as a community-oriented depository competing in District #6's footprint, but operating across many more counties and product lines.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/District-6-Federal-Credit-Union-109515824132694
• Instagraminstagram.com/district6_fcu
• LinkedInlinkedin.com/company/district-6-federal-credit-union

Compliance1 record

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 District #6 Federal Credit Union