Bank Of Labor

What Bank Of Labor does

Bank of Labor is a privately held, FDIC-insured community bank founded in 1924 and headquartered in Overland Park, Kansas. The bank operates as the nation's only majority labor-owned and operated bank, with affiliation to the International Brotherhood of Boilermakers, and serves two core customer segments: community consumers, small/mid-size businesses, and families in the Greater Kansas City Metro Area, plus organized labor unions and labor organizations served through a dedicated Washington DC office. Products and services span consumer and business deposit accounts (checking, savings, money market, CDs, IRAs), lending products (personal, auto, HELOC, SBA, commercial, equipment, and real estate), card services (Visa debit, MasterCard credit including the labor-specific MasterCard for Union Leaders and Commercial Prepaid Cards), and trust and investment services.

The bank's distribution operates through six physical branches in the Kansas City metro (Center City, Glenwood, Mid County, Olathe, Quivira, and the Glenwood headquarters), the Washington DC labor office, and digital channels including online banking, iOS and Android mobile apps with mobile check deposit, 24/7 telephone banking (Telelink), and a fee-free ATM network via MoneyPass and AllPoint. Technology integrations include Apple Pay, Falcon fraud protection, third-party card management portals (gotomycard.com, ezcardinfo.com), rewards programs (ScorecardRewards, DreamPoints), and QuickBooks-compatible transaction export. Underlying infrastructure uses standard core banking technology (an online banking platform hosted at cibng.ibanking-services.com) with no disclosed proprietary AI/ML capabilities.

Revenue is generated primarily through net interest income on a $359M loan book and $991M deposit base as of December 31, 2025 (total assets $1,072M), supplemented by transaction fees (overdraft, non-sufficient funds, wire, interchange), recurring deposit and account fees, and card services revenue. Loan products are priced on variable/fixed rate terms (auto loans from 5.893% APR, HELOC at 7.25% variable APR), while deposit products follow subscription-style monthly/annual pricing (CDs, money market accounts with tiered balance-based fee waivers). GTM is sales-led with direct-to-consumer self-service digital channels and a dedicated labor-banking vertical that captures national union customers through labor-organization networks and the Washington DC office.

Name

Bank Of Labor

Legal name

Bank of Labor

Website

https://bankoflabor.com

Company type

Private

Founded year

1924

Operating status

Operating

Headcount range

51–100 employees

Short description

Bank of Labor is a privately held, FDIC-insured community bank founded in 1924 and headquartered in Overland Park, Kansas, operating as the nation's only majority labor-owned bank. It serves Kansas City metro consumers and businesses plus labor unions nationwide through six branches, a DC office, and digital channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Washington

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: The bank generates revenue primarily through interest earned on loans and leases, including personal loans, auto loans, home equity lines of credit, business loans, SBA loans, and commercial lending products.
2. Deposit and Account Fees: Revenue from various account-related fees including overdraft fees, non-sufficient funds fees, wire transfer fees, and other banking service charges.
3. Deposit Taking: The bank accepts deposits from customers including checking accounts, savings accounts, money market accounts, and certificates of deposit. Total deposits reported at $991,088,000 as of December 31, 2025.
4. Card Services: Revenue from credit card and debit card transactions, including interchange fees from MasterCard and Visa card programs.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels5 records

Core offering

Bank of Labor is a privately held community and labor bank that accepts deposits and makes loans through retail, small business, and labor-union divisions. It delivers deposits, consumer and commercial lending, credit and debit cards, mobile and online banking, and trust and investment services, supported by branches in the Kansas City metro and a Washington DC office serving labor organizations. The bank is the nation's only majority labor-owned and operated bank, with specialized products such as the MasterCard for Union Leaders and commercial prepaid cards tailored to union needs.

Product overview

Bank of Labor operates as a community bank with two primary divisions: Community Banking serving individuals, families, and businesses; and Labor Banking serving organized labor unions and their members. The bank is majority labor-owned and operated. The core banking platform consists of online, mobile, and phone banking channels offering account management, transfers, bill pay, and e-statements. Deposit products include checking and savings accounts, money market accounts, and certificates of deposit. Lending products encompass personal loans, auto loans, home equity lines of credit, SBA loans, and commercial lending. Card services include Visa debit and MasterCard credit cards with associated rewards programs. Trust and investment services provide IRA accounts, wealth management, and fiduciary services. All services are accessed through physical branch locations in the Kansas City metro area and digital channels.

Differentiator

Problem solved

Functional benefit

Brands

• MasterCard for Union Leaders: A no annual fee MasterCard credit card designed for union leaders, underwritten on the union-entity using its tax-ID.

Products and services

• Online Banking Web-based banking platform providing 24/7 account access, real-time banking information, transfers, stop payments, bill pay, account alerts, and e-Statements with up to 12 months of history for personal and business customers.
• Mobile Banking On-demand mobile banking service accessible via iPhone, Android phones, and tablets, featuring account access, deposits, loan accounts, bill payment, fund transfers, and mobile check deposit.
• TeleLink Phone Banking Automated telephone banking service available 24/7 at 855.522.6722, enabling balance inquiries, loan and CD access, deposits, payments, and transfers over the phone.
• Personal Banking Community banking services for individuals and families including checking accounts, savings accounts, personal loans, mortgages, investments, card services, and custodial accounts.
• Business Banking Commercial banking services including business checking, business savings, business loans, SBA loans, equipment loans, real estate financing, and commercial lines of credit for small businesses and entrepreneurs in the Kansas City metro.
• Labor Banking Specialized banking division serving organized labor, unions, and their members, including banking, lending, and investment services tailored to labor organizations, with Treasury services and expense-distribution cards.
• Checking Accounts Personal and business checking account products with multiple tier options, overdraft protection availability, and online account opening capabilities.
• Savings Accounts Personal and business savings products offering competitive interest rates for fund accumulation.
• Certificate of Deposit (CD) Term savings product with competitive interest rates compounded quarterly, terms from 90 days to 60 months, and a $1,000 minimum opening deposit.
• Personal Money Market Account Savings account with competitive variable interest rates, check-writing capability, up to six free transfers per statement cycle, and 24/7 online, mobile, and telephone access.
• Sterling Money Market Account Elite savings account designed for high balances starting at $100,000 offering money market flexibility with CD-like rates and annual percentage yield that increases with higher balances.
• Traditional IRA Tax-advantaged retirement account where contributions grow tax-deferred and may be tax-deductible; funds are taxed upon withdrawal, with penalties for early withdrawal before age 59½.
• Roth IRA Retirement account with pre-tax contributions where qualified withdrawals are tax-free; available to persons with earned income regardless of age.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity with no prepayment penalties, no application fees, no closing costs, no annual fees, 24-hour online access, and loan up to 80% of property value at a variable APR tied to the Wall Street Journal Prime Rate.
• Auto and Vehicle Loans Financing for new and used automobiles, boats, motorcycles, and recreational vehicles with competitive interest rates, flexible terms, and fast local decisions.
• MasterCard for Union Leaders No annual fee credit card designed for union leaders, underwritten on the union-entity tax-ID rather than individual credit checks, with Falcon fraud protection, online expense tracking, transaction category restrictions, and reward points.
• Commercial Prepaid Cards Pay card solution for distributing funds for convention delegate payments, expenses, payroll, reimbursements, incentives, pension payments, and gifts without traditional banking services.
• Visa Debit Card Debit card issued under Visa license enabling ATM withdrawals, point-of-sale purchases, and integration with Apple Pay and mobile wallets.
• MasterCard Credit Card Credit card issued under MasterCard license with online account management at gotomycard.com, DreamPoints rewards program, and Falcon fraud protection.
• Trust and Investment Services Wealth management and fiduciary services including custody, investment management, and trust administration provided at the Glenwood location in Overland Park, KS.

Quantifiable outcome

• Serving customers since 1924, celebrating 100 years of banking service

Named customers5 records

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

Three partnerships are on record, tiered core and minor.

• MoneyPasscoreTechnology or IntegrationMoneyPass is an ATM network partner providing Bank of Labor customers fee-free access to thousands of ATMs across the country. The partnership enables customers to access cash without paying ATM fees at MoneyPass locations.
• AllPoint NetworkcoreTechnology or IntegrationAllPoint Network provides fee-free ATM access for union member customers at thousands of ATMs located at participating retail stores and financial institutions throughout the USA.
• Deluxe ChecksminorChannel Partner/ Reseller/ DistributorDeluxe Checks provides check ordering services for Bank of Labor customers. Customers can order printed checks through Deluxe using the bank's routing number and their account information.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Consumers Cooperative Credit Union: A cooperatively-owned credit union serving union members and select employer groups in the Midwest. Comparable in cooperative/affinity-group structure, regional Midwest footprint, and core consumer banking products offered to Bank of Labor's labor and community members.
• Unify Financial Credit Union: Unify is a member-owned credit union serving defined employee groups, including labor union members. Comparable to Bank of Labor in serving organized labor member populations with affinity-based deposits, lending, and card services.

Direct peers

• Amalgamated Bank: Amalgamated Bank is the most direct peer: a mission-driven commercial bank historically known as 'America's Labor Bank,' serving unions, progressive causes, and working-class customers. It operates a similar labor-union-focused banking model to Bank of Labor at a larger scale (multi-billion in assets, multiple branches).
• Merchants Bank of Indiana: A community bank of similar asset size (~$1B range) with a regional Midwestern footprint and full-service consumer/commercial banking. Comparable in scale, deposit-to-loan profile, and operating model to Bank of Labor's community banking division.
• National Cooperative Bank (NCB): NCB is a cooperatively-owned bank providing banking services to cooperatives, including labor unions and member-owned organizations. Closely comparable in serving organized labor and cooperative structures with dedicated labor/union banking products and treasury services.
• First Bank (Highland Park): First Bank is a community-focused commercial bank offering consumer and small business banking products with a comparable regional, multi-branch model. Similar in size and product mix to Bank of Labor's community banking segment.
• Metro City Bank: A community commercial bank of similar scale with focus on immigrant and underserved communities, including ethnic affinity banking. Comparable to Bank of Labor in being a mission-driven community bank with full retail and commercial product suites.
• Armed Forces Bank: Armed Forces Bank is a community bank serving a defined affinity group (military members and families) with national digital reach. Comparable to Bank of Labor as a community bank with a specialized mission-driven customer base and full-service consumer/business banking products.

Broad incumbents

• Bethpage Federal Credit Union: Bethpage is a large member-owned credit union offering community banking products comparable to Bank of Labor's retail offerings (checking, savings, lending, mortgages), though without the labor-union focus. Useful peer for deposit and community lending benchmarks.
• Security Service Federal Credit Union: A large federal credit union serving military members, civil servants, and their families — including labor-adjacent government worker segments. Comparable as a large member-owned financial institution with affinity-based service model and similar deposit/lending product mix to Bank of Labor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/bank-of-labor
• Xx.com/bankoflabor

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 Bank Of Labor