CBI Federal Credit Union

What CBI Federal Credit Union does

CBI Federal Credit Union (CBI FCU) is a federally chartered credit union founded in September 1963, originally organized by 15 Chicago Bridge & Iron (CB&I) headquarters employees and approved by the NCUA on September 27, 1963. Its field of membership covers current employees of CB&I and its wholly owned subsidiaries (including Lutech Resources personnel working on CB&I jobsites), CB&I retirees, and immediate family or household members, with a lifetime-retention philosophy ("Once a member, always a member") that decouples ongoing membership from continued sponsor-employer employment. The credit union operates from a single branch at 13717 S. Route 30, Unit 157, Plainfield, Illinois 60544, supplemented by access to over 5,000 CO-OP Shared Branching locations nationwide.

The product set spans the core retail banking stack: share savings, regular and secondary checking, term share certificates, IRAs (Traditional, Roth, Coverdell), Visa-branded debit and credit cards (Classic and Platinum), collateral and signature loans, share-secured loans, home mortgages, home equity products, and ancillary services such as notary and check ordering. The technology layer is built on third-party integrations rather than proprietary systems: Financial Net's Virtual Branch powers online banking; iOS/Android mobile apps enable mobile deposit and account access; Zelle provides P2P payments; DocuSign handles electronic signatures; and ZixCorp secures email communications. Education is delivered through an in-house quarterly newsletter, a Video Learning Center, and a Financial Education library covering all age groups.

The business model is a not-for-profit financial cooperative. Members fund the balance sheet through share (deposit) accounts; the credit union generates revenue from net interest spread on its loan portfolio (including mortgage, auto, personal, and credit card lending), service fees (loan application, wires, etc.), and Visa interchange. Governance is via a nine-member volunteer Board of Directors plus separate Supervisory and Credit Committees, all unpaid. As of the most recent disclosure, total assets are over $19M with roughly 1,600 members (versus 2,100 in 2017), supported by a salaried staff of 4-5 employees.

Name

CBI Federal Credit Union

Legal name

CBI Federal Credit Union

Website

https://cbifcu.org

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

11–50 employees

Short description

CBI Federal Credit Union is a federally chartered, member-owned credit union founded in 1963 serving employees, retirees, and families of Chicago Bridge & Iron and its subsidiaries. It operates from a single Plainfield, Illinois branch with nationwide shared-branching access and full digital banking services.

Ownership category

akta.pro rank

Product category

Credit Union Retail Banking

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Credit Cards & Revolving Credit (FSABAAAC)

Keywords

• Credit union services
• Consumer lending
• Membership banking
• Share savings accounts
• Mortgage lending

Headquarters

HQ city

Plainfield

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from various loan products including home mortgages, home equity loans, auto loans, collateral/title loans, signature loans, share secured loans, and VISA credit cards
2. Share Account Deposits: Member share (savings) account deposits forming the core funding base, with products including Regular Checking, 2nd Checking, Savings, Term Share Certificates, and IRAs
3. Service Fees: Various service fees including loan application fees, wire transfer fees, and other banking service charges
4. VISA Credit Card Operations: Credit card interchange and interest income from VISA credit card products

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

CBI Federal Credit Union is a not-for-profit, member-owned federal credit union providing deposit products (savings, checking, term share certificates, IRAs), consumer loan products (home mortgages, home equity, auto/collateral, signature, share-secured, VISA credit cards), and digital banking services to Chicago Bridge & Iron employees, their families, retirees, and subsidiary employees under a cooperative ownership model with NCUA-insured deposits.

Product overview

CBI Federal Credit Union offers a comprehensive suite of financial products and services primarily serving Chicago Bridge & Iron employees and their families. The core banking products include Savings accounts, Regular Checking, 2nd Checking, Term Share Certificates, IRAs (Traditional, Roth, and Coverdell), and Visa Gift Cards. The credit union provides various loan products including Collateral Loans, Signature Loans, Share Secured loans, VISA Credit Cards (Classic and Platinum), Home Mortgages, Home Equity products, and MessagePay for loan payments. Electronic services include Virtual Branch (online banking), Mobile App, Zelle (P2P payments), External Transfers via TransferNow, Direct Deposit, ACH, Domestic and International Wire transfers, Shared Branching, DocuSign Forms, SecureNow, and Audio Response phone banking. Additional services include Secured Email via Zix, Financial Education resources, Love My Credit Union Rewards program, notary services, and check ordering. The organization operates as a traditional credit union with NCUA insurance protection, prioritizing member service through multiple access channels including branch, online, mobile, and shared branching networks.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Members have saved nearly $2 billion in discounts from valued partners through Love My Credit Union Rewards program
• +1 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• ZellecoreTechnology or IntegrationPartnership with Zelle to provide fast and easy way to send and receive money with family, friends and people the member knows and trusts. Available through CBI FCU Mobile app or online Virtual Branch. No need to download anything new to start sending and receiving money.
• Zix CorpcoreTechnology or IntegrationIndustry leader in security technology partnership for establishing secured email exchange between the credit union and its members. ZixCorp encryption services protect consumer data and ensure privacy of financial communications.
• TurboTaxminorGTM or Marketing PartnerLove My Credit Union Rewards partner offering members up to 20% discount on TurboTax online federal tax products. TurboTax is America's #1 online tax preparation service.
• H&R BlockminorGTM or Marketing PartnerLove My Credit Union Rewards partner offering members savings up to $25 on H&R Block professional tax preparation. Services available in office, via video, or by phone.
• Trust & WillminorGTM or Marketing PartnerLove My Credit Union Rewards partner offering members exclusive savings of 20% off any estate plan. Helps protect families and secure their future.
• CO-OP Shared BranchescoreChannel Partner/ Reseller/ DistributorPartnership with CO-OP Shared Branches providing CBI FCU members access to more than 5,000 branches nationwide. Members can conduct transactions at any shared branch location with their CBI FCU account using account number and valid photo ID.
• Financial NetcoreTechnology or IntegrationProvides Virtual Branch online banking platform technology enabling members to access accounts, make transfers, and pay bills online.
• NCUA (National Credit Union Administration)coreOthersFederal regulatory agency that insures member deposits up to $250,000 through the National Credit Union Share Insurance Fund (NCUSIF). Managed by NCUA Board which examines, supervises and insures federally-chartered and qualifying state-chartered credit unions.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• BECU (Boeing Employees Credit Union): Originally formed to serve Boeing employees, now a large community-based credit union. Demonstrates the trajectory of an employer-based federal credit union scaled over decades and serves as a relevant proxy for how CBI FCU's model could evolve with broader membership.
• Connexus Credit Union: Federally chartered credit union offering membership through employer groups and community associations, with a similar full-service product suite including mobile, Zelle, mortgages, and shared branching. Comparable cooperative model and digital infrastructure.
• Alliant Credit Union: Federally chartered credit union serving employees of partner companies and qualifying organizations, with an employer-based membership foundation that has scaled to a broader community footprint. Offers a similar product suite including mobile, Zelle, and shared branching.
• Digital Federal Credit Union (DCU): Federal credit union with membership open to employees of participating companies and a wider community, offering a similar product suite including mobile banking, Zelle, and shared branching. Comparable digital-first credit union operating model.
• First Tech Federal Credit Union: Federal credit union serving employees of technology companies and trade groups, with employer-based membership and shared branching access. Comparable employer-anchored credit union model with digital-first banking capabilities similar to CBI FCU's tech stack.

Regional players

• Affinity Plus Federal Credit Union: Minnesota-based federal credit union serving employer groups and community members, with a comparable employer-anchored membership structure. Differentiated primarily by its regional concentration, but similar cooperative model and product offerings.

Direct peers

• SchoolsFirst Federal Credit Union: Federal credit union serving employees of schools and educational organizations, organized along the same employer-occupational structure as CBI FCU. Similar cooperative model with member-focused services and employer-defined membership eligibility.
• State Farm Federal Credit Union: Federal credit union serving State Farm employees and their families, structured similarly to CBI FCU as an employer/occupational credit union with a narrow corporate membership base. Operates the same member-owned cooperative model with comparable retail banking products.
• BCU (Baxter Credit Union): Originally founded to serve Baxter International employees and now expanded to multiple employer groups, operating as a federal credit union with employer-based membership. Provides a comparable employer-anchored model, having grown from a single-employer origin into a multi-employer cooperative.
• Service Credit Union: Federal credit union originally founded to serve military personnel and now expanded to employer groups, operating with the same employer/occupational membership model as CBI FCU. Provides a relevant peer for understanding the trajectory of single-employer-anchored credit unions.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/cbi-federal-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles20 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 CBI Federal Credit Union