MAC Federal Credit Union

What MAC Federal Credit Union does

MAC Federal Credit Union is a federally chartered, member-owned credit cooperative founded in 1952 and headquartered in Fairbanks, Alaska. Originally chartered as Tanana Valley Federal Credit Union to serve government employees around Fort Wainwright, the institution progressively expanded its field of membership — notably through an NCUA underserved designation in 2002 — to encompass the entire Fairbanks North Star Borough and Mat-Su Valley, serving approximately 20,000 members across consumer, small-business, youth, military, and cannabis-industry segments prior to its merger with Credit Union 1 (effective June 1, 2026; combined entity 112,500+ members, $1.7B+ in assets, 19 branches statewide, operating under the CU1 name). As a CDFI-certified institution, MAC holds NCUA-insured deposits and operates as the first and only Alaska financial institution serving cannabis-related businesses.

The credit union's core product set spans deposit accounts (savings, eChecking with 2.00% APY on balances up to $10,000, money market, share certificates, IRAs), youth accounts (MAC Kids Club and MAC Teen), and a full lending suite (auto, mortgage, HELOC, personal, share-secured, business, natural gas conversion). Distribution is built on four physical branches — 10th Avenue (Fairbanks), Ft. Wainwright, Wasilla, Palmer — plus 9+ ATMs on the Star and Plus networks, CO-OP shared branching, and a centralized call center. Digital delivery is anchored by the MyMAC mobile app (biometric authentication, push notifications, remote check deposit, bill pay) and the iTalk Audio Teller phone-banking channel, with payments routed through Zelle, Apple Pay, Samsung Pay, and Google Pay. Back-office integrations include KnowBe4 for cybersecurity awareness training and IDShield/Kroll for identity-theft protection services.

MAC Federal Credit Union's revenue mechanics follow the standard credit-union model: net interest income from auto, mortgage, personal, business, and credit-card lending is the primary stream, supplemented by service fees (overdraft $35, wire transfers $25–$50, paper statement $2/month, inactivity $10/month after 365 days) and a small contribution from interchange on VISA debit and credit cards. The Full-Service Membership Discount (2% APR on qualifying loans) functions as a cross-sell incentive tying checking, direct deposit, and a qualifying loan to lifetime member economics. GTM is community-led — financial literacy programming, MAC PAC volunteer outreach (1,275+ employee volunteer hours in 2022), gas giveaways, Midnight Sun Run scholarships, and partnerships with organizations such as Black Birch Books — rather than performance-marketing driven.

Name

MAC Federal Credit Union

Legal name

MAC Federal Credit Union

Website

https://macfcu.org

Company type

Private

Founded year

1952

Operating status

Acquired

Headcount range

11–50 employees

Short description

MAC Federal Credit Union is a federally chartered, member-owned Alaska credit cooperative serving roughly 20,000 members across Fairbanks and the Mat-Su Valley with deposit, lending, and business banking products, including niche cannabis-industry banking; it merged with Credit Union 1 on June 1, 2026, forming a 112,500-member, $1.7B-asset combined entity.

Ownership category

akta.pro rank

Product category

Retail Banking and Consumer Lending

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 industries

Military & Veterans Credit Unions (FSABAEAI), Community Development Credit Unions (CDCUs) (FSABAEAC)

Keywords

• Consumer banking services
• Credit union lending
• Military banking solutions
• Community development banking
• Cannabis business banking

Headquarters

HQ city

Fairbanks

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, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income from Loans: Primary revenue source from auto loans, mortgage loans, personal loans, business loans, and credit cards. Competitive rates offered to members with discounts for full-service members.
2. Service Fees: Various account and transaction fees including overdraft fees, wire transfer fees, ATM fees, late payment fees, and account maintenance fees as outlined in fee schedules.
3. Share Certificate and Savings Deposits: Accepts member deposits through savings accounts, money market accounts, IRAs, and share certificates, paying dividends to members while utilizing funds for lending.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

MAC Federal Credit Union is a member-owned financial cooperative providing consumer and business banking products including deposit accounts, consumer and commercial loans, VISA cards, and digital banking services to approximately 20,000 members across Alaska's interior and Mat-Su Valley. As a federally chartered CDFI-insured credit union, it specializes in military banking, community lending, and is the only local Alaska financial institution serving cannabis businesses.

Product overview

MAC Federal Credit Union is a community-focused credit union offering a comprehensive suite of financial products and services to members primarily in Alaska. The organization provides core deposit products (Savings, eChecking, Money Market, Share Certificates, IRA accounts), youth accounts (MAC Kids Club, MAC Teen Account), and a full range of lending products (Auto Loans, Mortgage Loans, Personal Loans, Home Equity Lines, Share Secured Products). The credit union also offers VISA Debit and Credit Cards, comprehensive Business Banking services including specialized Cannabis Related Business Banking, digital banking through the MyMAC mobile app and online platform, insurance products, and identity theft protection. The institution operates from four physical branches in Alaska (Ft. Wainwright, 10th Avenue in Fairbanks, Wasilla, and Palmer) and serves members globally through mobile banking, remote deposit capture, and shared branching networks. A significant merger with Credit Union 1 is underway, with completion expected June 1, 2026, which will expand the combined entity to 19 branch locations and 112,500+ members with over $1.7 billion in assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts Basic savings accounts with a $25 minimum balance, quarterly dividend earnings, and access to direct deposit, mobile banking, and ATM services. Deposits insured up to $250,000 via NCUA.
• eChecking High-yield checking account earning up to 2.00% APY on balances up to $10,000 with qualifying activities, including online banking, mobile banking, ATM access, and remote check deposit.
• MAC Kids Club Youth savings program for children aged newborn to 11 years with no monthly fees, $5 minimum balance, deposit incentives, and parental controls.
• MAC Teen Account Savings and checking accounts for teenagers aged 12-18 with no monthly fees, $25 minimum balance, and eligibility for a real checking account with parental approval.
• Individual Retirement Accounts (Traditional, Roth, Educational) Individual Retirement Accounts including Traditional IRA, Roth IRA, and Educational IRA with $25 minimum initial contribution. IRA Share Certificates offered at 4.00% APY for 12 months.
• Share Certificates Term deposit accounts with terms ranging from 6 to 48 months, offering dividends from 2.25% APY (6 months) up to 3.50% APY (12-18 months) with $500 minimum deposit.
• Money Market Accounts Interest-bearing accounts with $2,500 minimum balance, limited to 6 transactions per month, offering tiered rates from 0.55% to 1.50% APY based on balance.
• Auto Loans Financing for new and used vehicles including cars, trucks, motorcycles, ATVs, snow machines, RVs, campers, boats, and off-road vehicles with competitive rates starting at 6.39% APR (up to 4.39% with Full-Service Discount) and terms up to 120 months.
• Mortgage Loans Home financing solutions including purchase mortgages, refinances, and home improvement loans. Now offered through Credit Union 1 partnership following merger.
• Home Equity Line of Credit (HELOC) Mini home equity line of credit allowing members to borrow against their home's equity.
• Personal Loans Unsecured loans from 11.99% APR for business ventures, education, or other personal needs with flexible terms up to 72 months.
• Natural Gas Conversion Loans Specialized loans for natural gas conversion projects, part of MAC's commitment to Alaska community energy solutions.
• Share Secured Products Credit-building products including share secured loans and share secured Visa cards that allow members to use their own funds as collateral to build or repair credit.
• VISA Debit Cards Debit cards with access to MAC's ATM network, digital wallet compatibility (Apple Pay, Samsung Pay, Google Pay), and fraud protection.
• VISA Credit Cards Credit cards with no annual fee, fixed interest rates, no balance transfer fees, and compatibility with Apple Pay, Google Pay, and Samsung Pay.
• MyMAC Mobile Banking App Mobile banking application with enhanced security (two-factor authentication, biometric access), intuitive design, in-app support, customizable dashboard, push notifications, bill pay, and check deposit features. Available on iOS and Android.
• Online and Phone Banking Digital banking services including online account access, mobile banking, iTalk Audio Teller (24/7 phone banking), eStatements, and bill payment.
• Business Account Products Business banking services including Business Share Savings, Business Money Market, Business Draft checking, and Business Draft Plus checking accounts.
• Business Lending Products Business financing including unsecured lines of credit, unsecured term loans, business equipment loans, and commercial auto loans.
• Cannabis Related Business Banking Banking services for cannabis-related businesses in retail, cultivation, or extraction, offered since 2019 with low monthly fees and full deposit products.
• Insurance Services Partnership offering auto, home, business, life, and health insurance products through Insurance Aisle and TruStage.
• Identity Theft Protection IDShield identity theft protection service including monitoring, 24/7 counseling, black market surveillance, family coverage for minors, and restoration through Kroll.
• Full-Service Membership Discount Program offering 2% APR discount on qualifying loans for members who maintain a MAC checking account with debit card, full payroll deposit, and a qualifying loan.

Quantifiable outcome

• 2.00% APY on eChecking balances up to $10,000
• +2 more outcomes

Named customers3 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature2 records

Partnerships

Three partnerships are on record, tiered minor and core.

• Armed Forces Financial Network (AFFN)minorGTM or Marketing Partner · 1 January 2022AFFN awarded a $1,500 matching grant to MAC PAC for community outreach. AFFN's mission is to increase versatility of financial institutions serving U.S. military. Supports MAC FCU's military-focused community programs.
• Cannabis Industry AssociationscoreStrategic or Co-development Partner · 1 January 2019MAC FCU became the first and only local financial institution in Alaska to serve cannabis businesses (retail, cultivation, extraction). Provides safe banking alternatives for an underserved industry with low monthly fees and full deposit services.
• CO-OP Credit UnionscoreChannel Partner/ Reseller/ DistributorMAC FCU participates in the CO-OP shared branching network, allowing members to conduct transactions at shared branch locations worldwide. Effective January 2025, CO-OP Share Branching is limited to the Fort Wainwright location.

Scale indicators4 records

Recent moves10 records

Expansion highlights6 records

Broad incumbents

• Navy Federal Credit Union: The largest U.S. military-affiliated credit union; offers a comparable military-segment value proposition (deployment support, low-fee accounts, worldwide access) with vastly greater scale — a key competitive reference for MAC FCU's military heritage segment.
• Ent Credit Union: Large Colorado-based community-chartered credit union serving 500k+ members with full-service consumer and business banking; useful 'mid-size community CU' comparable for post-merger scale and digital-product benchmarks.
• Alaska USA Federal Credit Union: By far the largest credit union in Alaska with a statewide branch network, full-service consumer/business/wealth offerings, and millions in assets; serves as the dominant incumbent whose scale and product breadth set the competitive ceiling for MAC FCU/CU1.

Direct peers

• Self-Help Federal Credit Union: Certified CDFI credit union with a mission-driven focus on underserved communities, including non-prime lending and alternative-banking segments; closely comparable to MAC FCU's CDFI certification and community-development orientation.
• Denali Alaskan Federal Credit Union: Alaska-headquartered federal credit union serving Interior Alaska and statewide, providing consumer deposits, lending, and digital channels; competes head-on in the same geographic footprint and member segments as MAC FCU.
• Gesa Credit Union: Washington-state community credit union with roots in a defined occupational membership group and similar CDFI-style community-development orientation; offers consumer deposits, lending, and digital channels mirroring MAC FCU's product mix.
• Service Credit Union: New Hampshire-headquartered credit union founded for military personnel and now serving a defense/Coast Guard member base worldwide; directly comparable to MAC FCU's military-heritage focus and deployment-friendly banking model.
• Credit Union 1 (CU1): MAC FCU's merger partner and largest Alaska-based credit union; operates as a state-chartered cooperative serving a similar consumer/SMB membership across Alaska with comparable deposit, lending, and digital products — the two are now formally combined under the CU1 brand.

Regional players

• Pacific Marine Credit Union: California-based but operationally comparable community credit union serving a defined membership group with deposits, consumer lending, and digital banking; similar cooperative model and member-focused GTM for benchmarking.

Emerging players

• Blue Federal Credit Union: Wyoming-based community credit union serving military and civilian members around F.E. Warren AFB; comparable in target demographic (defense-community members), size class, and product scope to MAC FCU.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/macfcu
• LinkedInlinkedin.com/company/mac-fcu
• Instagraminstagram.com/macfcu
• TikToktiktok.com/@macfcualaska
• Xx.com/mac_fcu

Compliance1 record

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 MAC Federal Credit Union