Parkside Credit Union

What Parkside Credit Union does

Parkside Credit Union is a non-profit, member-owned financial cooperative established in 1953 and headquartered in Livonia, Michigan, operating with an 11–50 employee footprint. According to the firmographic record, the institution provides retail financial services including loans, deposit accounts, credit cards, and mobile banking to its members. Per the catalog of products aggregated under source ID (with multiple analyst notes flagging that the source URLs reference TRUE Community Credit Union's site rather than parksidecu.org), the credit union offers a conventional community-credit union product suite: consumer lending (auto, personal, student, recreational, instant cash), home lending (mortgage, construction, HELOC), business lending (micro loans under $50,000, commercial real estate, equipment and vehicle financing), deposit products (high-yield savings, share certificates, money market, HSAs, youth and specialty accounts), payment products (TRUE Rewards credit card, secured credit card, Business Rewards Visa), and supporting services such as merchant card processing, remote deposit capture, teller 24 phone banking, shared branching, excess share insurance, overdraft privilege, and skip-a-pay. Wealth management is delivered via a partnership with LPL Financial.

The underlying technology stack is a conventional credit-union core-plus-digital layer: web portal and native iOS/Android mobile apps delivering account access, fund transfers, bill pay, mobile check deposit, Zelle, and Mobile Pay, with an embedded credit-monitoring integration (Savvy Money). Because the firmographics derive from Parkside CU's primary record while the product/technology detail is attributed to a different Michigan credit union's website, the technical content should be treated as indicative of the category rather than definitively confirmed for Parkside specifically. The business model follows the standard mutual credit union structure: net interest income from lending activities (auto loans starting at 4.24% APR, personal loans at 8.24% APR, HELOC at 6.25%, share certificates at 3.75% APY), fee income from payment and treasury services (merchant card services, remote deposit capture, overdraft privilege), and ancillary revenue through the LPL Financial wealth-management referral channel and youth-program deposit gathering. Members are retail consumers and small businesses within the institution's field of membership, with no public disclosure of segment mix, asset size, membership count, or growth metrics.

Notable data gaps include the absence of revenue, asset-size, membership, headcount, leadership-team, funding, M&A, and regulatory-action data in the supplied source set — limiting deeper competitive or valuation analysis to qualitative inference from peer credit union benchmarks and the available product footprint.

Name

Parkside Credit Union

Website

https://parksidecu.org

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

11–50 employees

Short description

Parkside Credit Union is a member-owned, non-profit financial cooperative founded in 1953 and headquartered in Livonia, Michigan, providing consumer loans, deposit accounts, credit cards, and digital/mobile banking services to its retail membership.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (522130)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industries

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA), Retail Lending (Personal Loans, Auto, Credit Lines) (FSABAAAB), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Credit union deposits
• Mobile banking
• Small business lending

Headquarters

HQ city

Livonia

HQ country

United States

HQ region

North America

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Core offering

Parkside Credit Union is a member-owned cooperative financial institution that provides consumer and small-business banking products including deposit accounts (checking, savings, money market, share certificates, HSAs), consumer loans (auto, personal, student, home equity, mortgage), credit cards, and digital banking services. Its core deliverable is a full-service member banking relationship supported by web, mobile, and telephone access channels.

Product overview

TRUE Community Credit Union offers a comprehensive suite of financial products and services as a single-platform credit union serving Michigan residents. The core offering centers on Digital Banking (web and mobile), which integrates multiple features including Savvy Money credit monitoring and Mobile Pay. The deposit products portfolio includes High-Yield Savings, Share Certificates, Money Market Accounts, Health Savings Accounts, and specialty accounts (Trust, Estate, Conservatorship). The lending suite covers Consumer Loans (Auto at 4.24% APR, Personal at 8.24% APR, Student, Recreational, Instant Cash), Home Loans (Mortgages, Construction, Home Equity/HELOC at 6.25%, Michigan Saves), and Business Loans (Micro Loans under $50k, Commercial Real Estate, Equipment & Vehicle Loans, Lines of Credit, Term Loans). Credit products include TRUE Rewards Credit Card, Secured Credit Card, and Business Rewards Visa. Business services include Merchant Card Services, Remote Deposit Capture, and Wealth Management through LPL Financial partnership. Additional services include Teller 24 phone banking, Shared Branching network, Overdraft Privilege, Skip-A-Pay, and youth-focused savings programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Digital Banking
• Michigan Made Checking
• High-Yield Savings
• Share Certificates
• Money Market Account
• Health Savings Account (HSA)
• TRUE Rewards Credit Card
• Secured Credit Card
• Business Rewards Visa
• Auto Loans
• Personal Loans
• Mortgages
• Home Equity Loans (HELOC)
• Student Loans
• Commercial Real Estate Loans
• Micro Loans
• Equipment & Vehicle Loans
• Wealth Management
• Merchant Card Services
• Remote Deposit Capture

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves6 records

Expansion highlights5 records

Direct peers

• Consumers Cooperative Credit Union: Mid-sized Midwest credit union offering a full suite of consumer banking products including loans, credit cards, and digital channels — directly comparable cooperative business model and product mix.
• Genisys Credit Union: Michigan-based community credit union offering consumer lending, deposits, and business banking across southeast Michigan — competing head-to-head with Parkside in the Livonia-area retail banking market.
• Lake Michigan Credit Union: Michigan-headquartered credit union offering a comparable full suite of consumer loans, mortgages, credit cards, and digital banking to Michigan residents — directly overlapping Parkside's geographic and product footprint.
• Team One Credit Union: Michigan community credit union offering consumer and mortgage lending, deposits, and digital services — comparable member-owned cooperative model targeting retail consumers in overlapping Michigan geographies.
• CASE Credit Union: Small Michigan-based community credit union offering deposit accounts, consumer loans, and digital banking — closely comparable in scale (small employee base, single-region focus) to Parkside.
• Michigan State University Federal Credit Union: Large Michigan credit union providing consumer loans, mortgages, credit cards, and digital banking — comparable product breadth and digital-first orientation, though anchored to an affinity membership base.
• ELGA Credit Union: Community credit union serving the greater Flint/southeast Michigan region with a similar mix of consumer loans, deposit products, and member services — directly comparable in scale and community banking model.

Regional players

• Chelsea State Bank: Michigan community bank serving consumers and small businesses with deposits, loans, and digital banking — adjacent competitor in the Michigan retail banking market, though structured as a bank rather than a credit union.

Broad incumbents

• Ally Bank: Digital-first national bank competing aggressively on high-yield savings, deposit products, and consumer lending — sets the digital-banking benchmark that small credit unions like Parkside must match to retain members.
• JPMorgan Chase: National incumbent offering consumer deposits, credit cards, mortgages, and a leading mobile banking app — competes with Parkside for the same member wallet but at vastly greater scale and brand recognition.

Market position

Strengths3 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights4 records

Customer concentration

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 Parkside Credit Union