Members Financial Federal Credit Union

What Members Financial Federal Credit Union does

Members Financial Federal Credit Union (MFFCU) is a federally chartered, member-owned cooperative credit union headquartered at 3100 Sunburst Drive, Midland, Texas, founded in 1940 to serve Shell Oil Company employees in the Permian Basin. After acquiring Sid Richardson CU in 2008, the institution converted to a community charter and now serves members who live, work, worship, or attend school in Midland County and Ector County, Texas, with membership availability extended to surrounding communities including Gardendale, Stanton, Big Spring, and Greenwood. The credit union operates with 11-50 employees and is insured by the NCUA up to $250,000 per depositor.

The credit union's product portfolio spans consumer and small business banking: checking accounts (with $150 overdraft privilege and no monthly service charge), savings, money market, holiday/club accounts, CDs (6-60 month terms), IRAs, and a full lending suite including auto loans (4.75%-5.00% APR), home equity loans, personal loans ($15,000 max at 10.75% APR), Mastercard credit cards (9.90%-13.90% APR), and share-secured loans. Distribution is multi-channel: one owned branch, shared branch locations at Complex Community FCU, Heritage USA CU, My Community FCU, and Midland Teachers CU, a surcharge-free ATM network through the Permian Chapter of Credit Unions ATM Alliance and 7/11/Alon convenience stores, and digital channels including iOS/Android mobile apps, online banking, bill pay, e-statements, e-alerts, mobile check deposit, and a 24-hour automated teller phone line.

Revenue is generated primarily through net interest spread on loans and deposits, supplemented by transaction fees (overdraft, NSF, wire, ATM). The technology stack runs on a third-party digital banking platform (financial-net.com) with partnerships extending the product surface: Sallie Mae for student loans, Groovecar for auto shopping, TruStage for insurance, Catalyst Corporate FCU for wire transfers, BaconPay/Payment Buddy for external loan payments, and Love My CU for member rewards. As a not-for-profit cooperative, MFFCU returns earnings to members through dividends and competitive rates rather than external shareholders.

Name

Members Financial Federal Credit Union

Legal name

Members Financial Federal Credit Union

Website

https://membersffcu.org

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

11–50 employees

Short description

Members Financial Federal Credit Union is a federally chartered, member-owned cooperative based in Midland, Texas, serving residents and workers in Midland and Ector Counties with checking, savings, CDs, consumer and business loans, credit cards, and digital banking through mobile, online, and shared branch channels.

Ownership category

akta.pro rank

Product category

Community Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industries

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

Keywords

• Consumer banking services
• Credit union lending
• Community savings accounts
• Small business banking
• Digital mobile banking

Headquarters

HQ city

Midland

HQ country

United States

HQ region

North America

Offices11 records

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: Primary revenue source from interest charged on various loan products including auto loans, home equity loans, personal loans, credit cards, and share/CD secured loans. Rates vary by product type and creditworthiness.
2. Fee Income: Various service fees including overdraft fees, NSF fees, wire transfer fees, ATM fees, early account closure fees, dormant account fees, and other transaction-based charges as outlined in the fee schedule.
3. Dividend/Interest Income on Deposits: Income from spread between interest earned on member deposits invested and interest paid on share accounts, CDs, and money market accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Members Financial Federal Credit Union is a federally chartered, member-owned cooperative credit union that delivers retail and small-business banking products and services to individuals and businesses in Midland County and Ector County, Texas. Its core offering encompasses deposit products (checking, money market, club/holiday savings, share/CD, IRA, business savings, business checking), consumer and commercial loan products (new and used auto, home equity, personal, share-secured, Mastercard credit cards, and student loans via Sallie Mae), and digital and in-person service channels including mobile and online banking, mobile check deposit, online bill pay, wire transfer, and 24-hour telephone teller.

Product overview

Members Financial Federal Credit Union offers a comprehensive suite of financial products and services centered around traditional banking. The core portfolio includes checking and savings accounts (with Money Market, Certificate of Deposit, Club Accounts, and IRA options), along with lending products (automotive loans, home equity loans, student loans via Sallie Mae partnership, personal loans, and Mastercard credit cards). Business banking services include Business Checking, Interest Bearing Savings, and Money Market Accounts. Digital banking is delivered through mobile apps (iOS/Android) and online banking platform, complemented by add-on services such as Bill Pay, E-Statements, E-Alerts, Direct Deposit, Wire Transfer, Notary Services, Debit Cards with 24/7 fraud monitoring, and Financial Calculators. The credit union also offers TruStage insurance products and auto shopping through Groovecar partnership.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts Free consumer checking account providing debit card access, direct deposit, online and mobile banking, mobile check deposit, $150 overdraft privilege, and no monthly service charge for individual members in the Permian Basin.
• Money Market Accounts Tiered savings account requiring $1,000 minimum balance to open and $2,000 average daily balance to earn APY, with tier rates of 1.00% APY (2,000–4,999.99), 1.15% APY (5,000–29,999.99), and 1.25% APY (30,000+), limited to three withdrawals per month.
• Club Accounts (Holiday Savings) Holiday club savings account with $25 initial deposit and $100 minimum balance requirement to earn 2.00% APY, designed to help members set aside funds for end-of-year expenses.
• Certificate of Deposit Accounts Term deposit CDs ranging from 6 to 60 months with minimum $1,000 deposit and tiered rates based on balance, offering APYs up to 4.00% on 18-month $100,000+ CDs.
• Business Checking Accounts Business checking account with dividend-earning options for local small-business members in the Permian Basin service area.
• Business Interest Bearing Savings Accounts Business savings account with a $5,000 minimum deposit earning 2.00% APY for small businesses seeking dividend-bearing cash reserves.
• IRA Accounts Individual Retirement Account with a $100 minimum balance earning 0.20% APY for members' retirement savings.
• Automotive Loans Consumer auto loans for new vehicles starting at 4.75% APR and used vehicles starting at 5.00% APR, with rates determined by individual credit rating.
• Home Equity Loans Home equity loan product for funding college tuition, home improvements such as kitchen renovations, or second properties, with rates quoted upon application.
• Personal Loans Unsecured personal loans up to $15,000 at 10.75% APR based on individual credit rating, used for general consumer borrowing needs.
• Share Secured Loans Loans secured by the member's share deposit at the credit union, priced at 3.50% APR.
• Mastercard Credit Cards Mastercard credit card products including Mastercard Classic at 13.90% APR and Mastercard Gold at 9.90% APR, accessible via eZcard for online card management.
• Student Loans Student loan products offered through a Sallie Mae partnership to help members finance higher education expenses.
• Debit Cards Debit cards issued to checking account holders featuring 24/7 fraud monitoring, instant issue at the branch, and surcharge-free ATM access at 7/11/Alon convenience stores.
• Wire Transfer Domestic wire transfer service routed through Catalyst Corporate Federal Credit Union, providing same-day settlement for member-initiated wires.
• BaconPay Payment Buddy Third-party payment processing portal allowing members to make MFFCU loan payments from any external financial institution via an online login.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

Feature5 records

Partnerships

Four partnerships are on record, tiered minor and core.

• TruStage Insurance Agency, LLCminorGTM or Marketing PartnerTruStage insurance products and programs offered to members including life insurance, AD&D insurance, auto insurance, and home insurance. Products are available exclusively to credit union members.
• Permian Chapter of Credit Unions ATM AlliancecoreTechnology or IntegrationATM alliance network providing surcharge-free ATM access to Members Financial FCU members at alliance credit union branches across the Permian Basin region including Midland, Odessa, and surrounding communities.
• 7/11 (Alon) Convenience StorescoreTechnology or IntegrationSurcharge-free ATM access for Members Financial FCU members at 7/11/Alon convenience store locations in the service area.
• Love My CU RewardsminorGTM or Marketing PartnerMember rewards program providing discounts and savings offers to credit union members.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Complex Community Federal Credit Union: Also headquartered in Midland, TX, this community credit union is a direct competitor for members in the same geographic field of membership and operates a shared-branch partnership with MFFCU.
• My Community Federal Credit Union: Permian Basin community credit union serving overlapping Midland-area residents and sharing branch network with Members Financial FCU; directly comparable in scope, products, and member base.
• Heritage USA Federal Credit Union: Midland-based community credit union participating in the same shared-branch network; offers similar deposit, loan, and digital banking products to overlapping Permian Basin members.
• Midland Teachers Federal Credit Union: Small Midland, TX community credit union operating in the same Permian Basin market with comparable deposit and lending products and a shared-branching relationship with MFFCU.

Broad incumbents

• Security Service Federal Credit Union: Large Texas-headquartered credit union with significantly broader geographic reach and product set; competes for Texas consumer banking relationships and offers a meaningful incumbent benchmark for MFFCU's product and rate positioning.
• Randolph-Brooks Federal Credit Union: One of the largest credit unions in Texas with statewide membership and a comprehensive product suite including mortgage, investment, and business banking; represents a relevant scaled peer for product breadth comparison.
• Credit Union of Texas: Texas-based community-charter credit union operating across the Dallas-Fort Worth metroplex with similar deposit and loan products; relevant for benchmarking MFFCU's consumer lending and digital banking capabilities.

Regional players

• Firstmark Credit Union: San Antonio-based community credit union serving a different Texas geography with comparable product set (checking, savings, auto, mortgage, digital banking); useful as a regional analog for community-CU economics.

Emerging players

• Connexus Credit Union: Digital-first credit union offering nationally competitive deposit rates and a strong mobile app; while not in MFFCU's geographic field of membership, it represents the emerging competitive threat from remote-first credit unions that compete for rate-sensitive consumer deposits anywhere in the US.
• Alliant Credit Union: Large digital-first US credit union serving members nationwide via online channels; competes for rate-sensitive deposits and consumer loans against community institutions like MFFCU through superior mobile experience and rates.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php?id=100054408522773
• LinkedInlinkedin.com/company/membersffcu

Compliance2 records

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 Members Financial Federal Credit Union