Katahdin Federal Credit Union

What Katahdin Federal Credit Union does

Katahdin Federal Credit Union (KFCU) is a federally chartered, member-owned cooperative financial institution headquartered in Millinocket, Maine, with a branch in Island Falls and a wealth-management division (Single Source Financial Centre) operated through a partnership with Raymond James Financial Services. Founded in 1954 as a single-employer credit union for Great Northern Paper, KFCU has since converted to a community-based charter serving individuals and small businesses across Penobscot County, Piscataquis County, and parts of southern Aroostook County. The institution holds NCUA-insured deposits up to $250,000 per member account plus $250,000 per IRA account, is licensed as an Equal Housing Lender (NMLS #784803), and operates on routing number 211288077.

KFCU's product surface spans consumer and business deposit accounts (checking, savings, share certificates, traditional/Roth IRAs, Coverdell ESAs, HSAs), consumer and business lending (mortgages up to 80% LTV with PMI to 95%, HELOC at 6.750% APR, new/used vehicle loans from 3.99% APR, consumer signature loans at 9.74% APR, business real estate and lines of credit), and Visa Classic/Gold credit cards with no annual fee. The digital platform comprises the Katahdin Connection online banking portal with multi-factor authentication and bill pay, the Mobile Connection app (iOS/Android) with remote deposit capture, a WAP version for feature phones, audio response (Money Connection), Apple Pay tokenization, EZcard account management, and TimeValue Software-powered financial calculators. Distribution beyond the two branches is extended through the SURF surcharge-free ATM network (over 225 ATMs in Maine) and the Shared Branching cooperative (over 155 Maine locations and 5,000+ nationwide).

Revenue is generated primarily through net interest income on loans and mortgages (with loan APRs ranging from 3.99% on new vehicles to 9.74% on signature loans), deposit spread economics on share savings and share certificates (0.05%-4.00% APY), interchange fees on Visa debit and credit card transactions, and fee/commission income from Raymond James-sourced investment products and third-party protection add-ons (debt protection, GAP, Route 66 extended warranty, TruStage AD&D/life, PetsPartners pet insurance). Indirect auto lending through partner dealerships and a community-led go-to-market supported by quarterly newsletters, Facebook engagement, and member events (e.g., Member Appreciation Day) round out the commercial motion. KFCU is a not-for-profit cooperative; there is no parent company, no external equity, and no public reporting of revenue.

Name

Katahdin Federal Credit Union

Legal name

Katahdin Federal Credit Union

Website

https://katahdinfcu.org

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

11–50 employees

Short description

Katahdin Federal Credit Union is a federally chartered, member-owned credit union headquartered in Millinocket, Maine, serving individuals and small businesses across Penobscot and Piscataquis Counties and parts of southern Aroostook County with deposit accounts, consumer and commercial lending, credit cards, digital banking, and investment services via Raymond James.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Federations/Centrals & Cooperative Banking Networks (2nd-Tier Co-ops) (FSABAEAL)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Mortgage lending
• Community credit union
• Business banking services

Headquarters

HQ city

Millinocket

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from various loan products including vehicle loans, mortgages, home equity loans, personal/signature loans, business loans, and credit cards. Loan rates range from 3.99% APR for new vehicles to higher rates for signature loans and used vehicles based on creditworthiness and term length.
2. Share Draft (Checking) Account Services: No monthly service charge checking accounts with Visa debit card access, online banking, mobile banking, bill payment services, and e-statements. Revenue generated through interchange fees on debit card transactions.
3. Savings and Certificate Account Dividends: Share savings accounts with tiered dividend rates (0.05% to 0.25% APY), share certificates with terms from 3-60 months, and IRA accounts. Minimum $500 for certificates, $25 for savings accounts.
4. Credit Card Fees and Interest: Visa Classic and Gold credit cards with no annual fee, earning cash back rebates on Classic and bonus points on Gold. Revenue from interchange fees and interest on carried balances.
5. Protection Products: Debt Protection, GAP Protection, Extended Warranty (Route 66), AD&D Insurance (TruStage), TruStage Life Insurance, and Pet Insurance offered as add-on products to loan and account holders.
6. Investment Services (Single Source Financial Centre): Financial planning and investment services through Raymond James Financial Services including IRAs, annuities, treasuries, mutual funds, stocks, bonds, life insurance, long-term care insurance, investment counseling, retirement planning, and tax planning.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

Katahdin Federal Credit Union is a federally chartered, member-owned community credit union providing personal and business deposit accounts (checking, savings, share certificates, IRAs, HSAs), consumer and commercial lending (mortgages, home equity, vehicle, consumer/signature, business real estate, lines of credit), Visa credit and debit cards, and digital banking via Katahdin Connection online banking and Mobile Connection mobile banking with remote deposit capture. It also distributes insurance protection products (Debt Protection, GAP, Route 66 Extended Warranty, TruStage AD&D and Life, PetsPartners Pet) and investment/financial planning services through the Single Source Financial Centre division in partnership with Raymond James Financial Services.

Product overview

Katahdin Federal Credit Union is a community-based financial institution offering a comprehensive suite of banking, lending, and protection products organized around a unified banking platform. The core product portfolio spans consumer and business deposit accounts (checking, savings, share certificates, IRAs, Health Savings Accounts), consumer and business lending (mortgages, home equity, auto/vehicle, consumer/signature, mobile home, and business real estate), credit cards (Classic and Gold Visa), and digital banking (Katahdin Connection online banking, Mobile Connection app). Protection add-on modules include Debt Protection, GAP Protection, Route 66 Extended Warranty, TruStage AD&D and life insurance, and PetsPartners pet insurance. The Single Source Financial Centre division, operated through Raymond James, provides investment services including IRAs, annuities, mutual funds, and retirement planning. All products are accessible through integrated digital channels including Apple Pay, Visa debit/credit cards, online bill pay, e-statements, and an ATM network.

Differentiator

Problem solved

Functional benefit

Products and services

• Katahdin Connection (Online Banking) 24/7 home banking portal providing KFCU members with account access, balance viewing, fund transfers, online bill payment, check image viewing, custom reporting, personalized management tools, and secure messaging with layered Multi-Factor Authentication.
• Mobile Connection (Mobile Banking) Mobile banking app available on iOS App Store and Google Play, with a WAP version for non-smartphone users, enabling account access, fund transfers, bill pay, remote deposit capture (check deposits via mobile device), and ATM location finding.
• Checking Accounts No-minimum personal checking accounts with no monthly service charge, VISA debit card, direct deposit, overdraft line of credit (Streamline), e-statements, and free4ME account for members aged 18-25.
• Savings Accounts Regular share savings account with $25 minimum deposit and tiered dividend rates (0.05%-0.25% APY), Money Trek children's savings program for ages 0-13, and Club accounts (Holiday, Vacation, Tax, Special) with automatic payroll deduction.
• Share Certificates Certificate accounts with terms from 3 to 60 months, $500 minimum deposit, monthly dividend compounding, APYs ranging from 2.00% to 4.00% depending on term, jumbo certificates available, and option to guarantee loans at certificate rate plus 2%.
• IRA Accounts (Traditional, Roth, Coverdell ESA) Individual Retirement Accounts including Traditional IRA, Roth IRA, and Coverdell Education Savings Account for qualified education expenses. IRA Share accounts offer 0.50% APY with $25 minimum opening balance, and IRA Certificate accounts are also available.
• Health Savings Accounts (HSA) Tax-exempt Health Savings Accounts for members enrolled in high-deductible health plans, with 2026 contribution limits of $4,400 individual and $8,750 family, plus a $1,000 catch-up contribution for those 55 and older.
• Mortgages Home mortgage products including 5/1 ARM, 10-year, 15-year, and 20-year fixed-rate options, borrowing up to 80% LTV with PMI available up to 95% LTV. Decisions made locally by trusted mortgage lenders with typical lower closing costs; KFCU holds NMLS #784803.
• Home Equity Loans and Lines of Credit HELOC revolving credit up to 80% of appraised value minus existing mortgages with a 3-year draw period at 6.750% APR variable (CMT plus 3.00% margin), and closed-end home equity loans with fixed rates and up to 10-year terms; closing costs apply and interest may be tax deductible.
• Vehicle and Recreational Vehicle Loans New vehicle financing up to 100% of purchase price (84-month max, $25,000 minimum for 84-month term) starting at 3.99% APR; used vehicle financing up to 100% of NADA value (72-month max for 2018-2022 models, 36-month max for 2017 and older). Pre-approvals and indirect dealership financing available.
• Consumer and Signature Loans Unsecured personal/signature loans at 9.74% APR (variable, Prime plus 2.99%) with terms up to 60 months. Includes Streamline overdraft protection line of credit, computer loans up to $2,000 at 6.99% APR (24-month term), fuel loans up to $3,000 at 6.99% APR (12-month term), holiday loans up to $3,000 at 5.99% APR (12-month term), and mobile home and land loans.
• Visa Credit Cards (Classic and Gold) KFCU Visa Classic card (no annual fee, $500-$8,000 credit limit, cash back rebates on purchases) and Visa Gold card ($8,001-$20,000 limit, bonus points redeemable for travel/gifts, auto rental CDW). Both feature 24/7 EZcard online access, Visa Purchase Alerts fraud monitoring, and integration with Apple Pay.
• Business Checking Business checking account with no minimum balance requirement, no monthly fee, and no per-item fee, including VISA debit card, remote deposit capture, e-statements, SURF surcharge-free ATM access, and optional lines of credit.
• Business Savings Business savings account with $25 minimum opening deposit, no monthly fees, and tiered dividend rates on balances $25 and above, plus Business Club accounts for segregating funds for taxes or purchases.
• Business Loans Business lending services including real estate financing (rental properties, office buildings, owner-occupied, retail), lines of credit, equipment loans, and business credit cards, with flexible repayment terms and competitive variable rates.
• Business Real Estate Loans Commercial real estate financing for rental properties, apartment complexes, office buildings, owner-occupied facilities, retail/wholesale/distribution, and land development with flexible repayment terms and competitive variable rates.
• Business Lines of Credit Business Line of Credit providing access to cash for short-term needs, working capital, inventory, and advertising. Higher limits than overdraft protection with flexible terms, especially suited for new or seasonal businesses.
• Business Visa Cards Visa Business credit card for qualified business members with low rate and no annual fee, accepted worldwide for everyday purchases. Application requires 2 years of business financials and personal tax returns.
• Single Source Financial Centre (Investment Services) Division of KFCU offering investment and financial planning services through Raymond James Financial Services (Member FINRA/SIPC), including IRAs, annuities, treasuries, mutual funds, stocks, bonds, life insurance, long-term care insurance, investment counseling, retirement planning, and tax planning.

Quantifiable outcome

• Borrow up to 100% of purchase price for new vehicles
• +2 more outcomes

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature3 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• VisacoreTechnology or IntegrationVisa payment network partnership enabling Visa credit and debit cards accepted worldwide. Includes Visa Purchase Alerts for fraud monitoring and Verified by Visa security. Visa cards feature cash back rebates (Classic) and bonus points (Gold).
• SURF ATM Network (Maine Credit Unions)coreChannel Partner/ Reseller/ DistributorSurcharge-free ATM network operated by Maine credit unions, providing access to over 225 fee-free ATMs throughout Maine.
• Shared Branching NetworkminorChannel Partner/ Reseller/ DistributorCooperative branching network providing KFCU members access to over 155 locations in Maine and 5,000+ locations nationwide for deposits, withdrawals, and basic transactions.
• ApplecoreTechnology or IntegrationApple Pay integration allowing KFCU Visa debit and credit card holders to make contactless payments using iPhone and Apple Watch devices.
• Route 66 WarrantyminorGTM or Marketing PartnerExtended warranty/vehicle service contract provider offering mechanical breakdown protection for vehicles with rental car allowance and 24/7 roadside service across the US.
• TruStage Insurance (CMFG Life Insurance Company)minorGTM or Marketing PartnerAccidental Death & Dismemberment (AD&D) and life insurance products offered to members. AD&D coverage of $4,000 provided at no cost; additional coverage up to $300,000 available for purchase.
• PetPartnersminorGTM or Marketing PartnerPet insurance provider offering customizable pet insurance plans with no network restrictions, short waiting periods, and fast claim turnaround for veterinary treatments.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Penobscot County Federal Credit Union: A Maine-based community federal credit union serving members in Penobscot County with similar field-of-membership, deposit, and consumer lending products. Directly comparable in scale, charter, and rural Maine market positioning to Katahdin FCU.
• Atlantic Federal Credit Union: A federally chartered Maine credit union with a comparable community-based membership model and a full retail-banking product suite including mortgages, vehicle loans, and credit cards. Most directly comparable in charter, geography, and product depth.
• University Credit Union: Maine-headquartered community credit union offering consumer and business banking, lending, and digital channels across multiple counties. Comparable field-of-membership structure and full-service community credit union operating model.
• Maine State Credit Union: A Maine-based community credit union with multiple branches and a similar mix of deposit accounts, consumer loans, mortgages, and digital banking. Directly comparable as a community-chartered Maine credit union with overlapping member geography.
• Kennebec Valley Federal Credit Union: A community-chartered Maine federal credit union offering similar consumer, mortgage, and business banking services. Directly comparable in charter, geographic focus, and product breadth.

Broad incumbents

• Bangor Savings Bank: A larger Maine-based mutual savings bank with community banking, commercial lending, and digital channels across the state. Competes with KFCU in overlapping Maine markets but operates at significantly larger scale and broader footprint.
• Camden National Bank: A publicly traded Maine-based community bank with a statewide branch network offering consumer, mortgage, and business banking. A broader incumbent that competes for the same Maine consumer and small business customers as Katahdin FCU.
• Norway Savings Bank: A Maine-based mutual savings bank offering deposit, lending, and wealth services across western and central Maine. Comparable in mutual/community banking ethos but materially larger in assets and branch network.
• Machias Savings Bank: A Maine-based community bank serving rural eastern Maine markets with consumer and business banking products. A broad incumbent peer that competes in similar rural Maine geographies with overlapping customer segments.

Regional players

• Connexus Credit Union: A large national credit union offering a full suite of consumer banking, lending, and digital products through online and shared-branch channels. Comparable in product breadth and digital-first model, but operates nationally rather than in KFCU's Maine territory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/share/18rjiVF8Dm/?mibextid=wwXIfr

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Subsidiaries1 record

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 Katahdin Federal Credit Union