Heritage Federal Credit Union

What Heritage Federal Credit Union does

Heritage Federal Credit Union is a federally chartered, member-owned financial cooperative headquartered in Newburgh, Indiana, operating since 1965 with 101-250 employees. The institution serves individual consumers, small-to-mid-sized businesses, non-profit organizations, students, veterans, public safety professionals, and agricultural operations across a regional Indiana market. Its product suite spans personal banking (Rewards Checking up to 3.40% APY, savings, certificates and IRAs including a 7-Month 4.00% APY special, HSAs, auto loans at 5.95% APR, home mortgages, credit cards including the MyChoice Secured VISA), business banking (checking, term loans, lines of credit, SBA loans, Ag Lending, business credit cards), and a Heritage Investments sub-brand offering wealth services. A dedicated Non-Profit Checking program supported partnerships with over 130 non-profit organizations in 2025.

Heritage's technology stack is built on a conventional digital banking platform delivered through native mobile applications on iOS and Android, a web payment center, virtual banking self-service capabilities, and third-party integrations including Zelle for peer-to-peer payments and MeridianLink for online consumer and business loan applications. Distribution combines physical branch locations with multi-channel digital access, supported by a community-engagement marketing program spanning organic social media, the 'Talking Cents' financial literacy podcast, and a Refer-a-Friend program.

The credit union's revenue model follows standard depository institution mechanics: net interest income from auto, home, credit card, business, SBA, and agricultural loan portfolios, plus interest earned on member deposits and fee-based services including overdraft, ATM, and account maintenance charges. Capital is generated and returned to members through dividends (such as the $2,348,844 in checking dividends paid in 2025), not external investors, and the institution is regulated and insured by the NCUA.

Name

Heritage Federal Credit Union

Legal name

Heritage Federal Credit Union

Website

https://hfcu.info

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

101–250 employees

Short description

Heritage Federal Credit Union is a federally chartered, member-owned cooperative in Newburgh, Indiana offering consumer, business, agricultural, and non-profit banking services including loans, deposits, credit cards, and wealth services across regional branch and digital channels.

Ownership category

akta.pro rank

Product category

Credit Union Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Military & Veterans Credit Unions (FSABAEAI)

Keywords

• Credit union services
• Consumer banking
• Business lending
• Mortgage loans
• Agricultural lending

Headquarters

HQ city

Newburgh

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Heritage generates revenue primarily through interest charged on various loan products including auto loans, home mortgages, credit cards, business loans, SBA loans, and agricultural lending
2. Deposit Interest Income: Interest earned on member deposits held in checking accounts, savings accounts, certificates, and IRAs
3. Fee-based Services: Revenue generated from various banking fees including overdraft fees, ATM fees, account maintenance fees, and other service charges

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Heritage Federal Credit Union is a federally chartered, member-owned cooperative that provides retail and commercial banking products and services. Its core offerings include consumer deposit accounts (Rewards Checking, savings, certificates, IRAs), consumer credit products (auto loans with rates as low as 5.95% APR, home mortgages, credit cards including MyChoice Secured VISA), and commercial banking services (business checking and savings, business loans, SBA loans, Ag Lending, business credit cards). Heritage also offers Heritage Investments, specialized non-profit checking, and tailored programs for students, public safety professionals, and veterans.

Product overview

Heritage Federal Credit Union offers a comprehensive suite of banking products through a unified digital banking platform supplemented by physical branch locations. The core offering includes personal banking (checking, savings, certificates, credit cards, and loans including auto and home mortgages) alongside dedicated business banking services (commercial checking, business loans, SBA loans, Ag Lending). The institution also provides specialized programs for students, public safety professionals, veterans, and non-profit organizations. Key digital products include Rewards Checking (up to 3.40% APY), Digital Banking platform, Virtual Banking self-service options, and Web Payment Center. Investment services are available through Heritage Investments. The credit union integrates with Zelle for peer-to-peer payments and offers SBA loans through its business banking division.

Differentiator

Problem solved

Functional benefit

Brands

• Heritage Investments: Investment services offered through the credit union
• Rewards Checking
• MyChoice Secured VISA
• Talking Cents

Products and services

• Rewards Checking High-yield checking account for individual members offering up to 3.40% APY with rewards and cash-back on qualifying activities.
• Savings Accounts Personal savings accounts for members to deposit and grow funds securely.
• Certificates & IRAs Term certificates and Individual Retirement Accounts with competitive rates, including a 7-month special at 4.00% APY, for member savings and retirement planning.
• Health Savings Account Tax-advantaged HSA for individuals enrolled in high-deductible health plans to save for qualified medical expenses.
• Auto Loans Vehicle financing for members with APR as low as 5.95% and a 1% cash-back promotional offer.
• Home Loans Mortgage and home financing products with dedicated mortgage experts to help members achieve home ownership.
• Credit Cards Credit card products for members, including rewards and secured options with various reward structures.
• MyChoice Secured VISA Secured VISA credit card option for members building or rebuilding credit.
• Business Checking and Savings Commercial banking accounts designed for small to medium-sized businesses.
• Business Loans Commercial lending products including term loans and lines of credit for business growth.
• SBA Loans Small Business Administration loan programs providing government-backed financing options for eligible businesses, with online application capability.
• Ag Lending Specialized agricultural financing for farmers and farming operations.
• Business Credit Cards Credit card products designed for business spending and expense management.
• Non-Profit Checking Specialized checking account for non-profit organizations, part of a community partnership program with 130+ organizations in 2025.
• Heritage Investments Investment and wealth management services for members, offered as a sub-brand through the credit union.
• Digital Banking Online and mobile banking platform providing account access, bill pay, and transaction management for members.
• Virtual Banking Self-service banking option allowing members to conduct transactions remotely without visiting a branch.
• Web Payment Center Online platform for members to make loan payments and manage payment schedules.
• Student Rewards Program Specialized checking account and program designed for students with rewards and educational banking features.
• Banking for Public Safety Professionals (PSPP) Specialized banking program tailored for public safety professionals, including police and fire personnel.
• Banking for Veterans Banking program designed specifically for military veterans.

Quantifiable outcome

• 339 members helped to achieve home ownership in 2025
• +2 more outcomes

Named customers3 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature4 records

Partnerships

One partnership is on record.

• Non-Profit Organizations (130+)coreOthers · 1 January 2025Heritage partnered with over 130 non-profit organizations in 2025, offering specialized non-profit checking accounts and financial services. This community engagement represents a core aspect of the credit union's mission to serve the local community.

Scale indicators4 records

Recent moves6 records

Expansion highlights3 records

Broad incumbents

• Old National Bancorp: Indiana-headquartered regional bank with a broad commercial and retail banking franchise overlapping Heritage's Indiana consumer and business banking segments, but operating across multiple states with substantially greater scale.
• Fifth Third Bank: Large regional bank with significant Indiana branch presence offering competitive checking, mortgage, and consumer loan products that compete with Heritage for the same households and SMBs.
• German American Bancorp: Indiana-based community bank offering consumer, business, and ag lending products directly competitive with Heritage's retail and agricultural lending services across southern Indiana.

Regional players

• Stock Yards Bank & Trust: Kentucky/Indiana regional bank offering consumer and commercial banking, wealth, and treasury services with overlap to Heritage's Indiana business and ag lending footprint.
• First Financial Bank (Indiana): Indiana-focused community bank with consumer and business banking, mortgages, and SBA lending that competes directly with Heritage in overlapping Indiana geographies.

Direct peers

• Centra Credit Union: Indiana-headquartered credit union providing consumer, mortgage, and business banking products across overlapping Indiana counties with comparable member-cooperative positioning.
• Evansville Teachers Federal Credit Union: Tri-State area credit union serving consumer and business members with deposit and lending products, directly overlapping Heritage's southern Indiana member base.
• Teachers Credit Union (TCU): Indiana-based credit union offering consumer and business banking, mortgages, and member rewards — directly competitive with Heritage in the Indiana cooperative-depository market.
• Beacon Credit Union: Indiana-based credit union offering consumer banking, loans, and ag lending, serving many of the same Indiana communities as Heritage.

Emerging players

• NASA Federal Credit Union: Federally chartered credit union offering consumer banking, mortgages, and digital services — comparable in charter structure and product breadth, though operating in a different member geography.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/heritagefcu
• YouTubeyoutube.com/channel/UCpXdFeLoYHFj0cSriEbHx4g
• Facebookfacebook.com/heritage-federal-credit-union-58097657281
• LinkedInlinkedin.com/company/heritage-federal-credit-union
• Instagraminstagram.com/heritagefederal

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Heritage Federal Credit Union