Mccoy Federal Credit Union

What Mccoy Federal Credit Union does

McCoy Federal Credit Union is a federally chartered, member-owned cooperative financial institution headquartered in Orlando, Florida, operating 15 branch locations across Central Florida. The credit union serves over 80,000 members with a full suite of retail and small-business banking products: checking, savings, money market, share certificates, IRAs and HSAs, vehicle loans, personal loans, home equity, mortgages, business lending (including SBA), and Visa credit cards (Signature Rewards, Platinum, Secure). It is regulated by the National Credit Union Administration (NCUA) and insured by the National Credit Union Share Insurance Fund up to $250,000 per depositor. The institution's technology stack is standard credit-union banking infrastructure delivered through the myMcCoy online banking platform, a mobile app with mobile check deposit, Zelle for P2P payments, McCoy Card Controls, and the NXG Protect identity monitoring service, with third-party loan and mortgage origination systems (Loanspq, MeridianLink, Mortgage Manager) handling application workflows.

The business model is a standard cooperative net-interest-income model: McCoy funds itself through member deposits (savings, money market, share certificates, IRAs) and earns revenue primarily from interest on consumer and commercial loans, supplemented by fee income from overdraft/courtesy pay, account services, and merchant services. Loan pricing is publicly disclosed and APR-based, with new auto loans at 5.40% APR, used autos at 5.65%, mortgages at 6.00% APR (6.137% APY), personal lines at 12.50% APR, and Visa Platinum at 12.00% APR. Distribution is multi-channel: 15 physical branches in Central Florida, online and mobile banking, and the Co-Op Shared Branching network providing nationwide access. Go-to-market is direct-to-consumer and direct-to-small-business, with a community-focused marketing approach anchored by the McCoy Cares Foundation, financial education content, and member testimonials.

Under President/CEO Alvin Cowans (41+ years in role), the institution grew from $35 million in assets to over $1 billion, with headcount in the 251–500 range. The credit union supplements its commercial activity with a community-impact program — the McCoy Cares Foundation — that runs school partnerships (Lancaster Elementary since 2003, Hamlin Elementary), the Nemours Children's Health Elf Workshop, and digital equity donations via the Aeras Foundation. Its customer base is segmented across individual consumers/families (primary), small business owners, and credit rebuilders (Fresh Start Checking, Secure Cards), with a relationship-based, education-forward service model rather than a technology- or AI-led proposition.

Name

Mccoy Federal Credit Union

Legal name

McCoy Federal Credit Union

Website

https://mccoyfcu.org

Company type

Private

Founded year

1954

Operating status

Operating

Headcount range

251–500 employees

Short description

McCoy Federal Credit Union is a federally chartered, member-owned cooperative in Orlando, Florida, operating 15 branches across Central Florida and serving over 80,000 members with consumer and small-business banking, lending, and credit card products.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

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

Keywords

• Retail banking services
• Consumer lending
• Mortgage and home equity
• Credit card services
• Small business banking

Headquarters

HQ city

Orlando

HQ country

United States

HQ region

North America

Offices7 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 stream from interest charged on vehicle loans, mortgages, personal loans, home equity products, and credit cards. The credit union offers competitive rates including auto loans starting at 5.40% APR and mortgages at 6.00% APR.
2. Fee Income: Various fee-based services including overdraft protection programs, courtesy pay, and other account service charges.
3. Member Deposits: Accepts member deposits including savings accounts, money market accounts, share certificates, and IRAs, which provide funding for lending operations.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

McCoy Federal Credit Union is a federally chartered, member-owned cooperative financial institution providing retail banking, consumer lending, mortgage, credit card, and small business banking services to individuals, families, and businesses in Central Florida. It delivers products through 15 branch locations, an online banking platform (myMcCoy), a mobile app, and the Co-Op Shared Branching network, with deposits federally insured by the NCUA up to $250,000.

Differentiator

Problem solved

Functional benefit

Brands

• McCoy Cares Foundation: Charitable foundation operated by McCoy Federal Credit Union for community giving and educational partnerships
• McCoy Card Controls
• myMcCoy

Products and services

• Checking Accounts
• Savings and Money Market Accounts
• Share Certificates (CDs)
• Individual Retirement Accounts (IRAs)
• Vehicle Loans
• Personal Loans and Lines of Credit
• Mortgage and Home Equity Loans
• Credit Cards
• Business Banking Services
• myMcCoy Online and Mobile Banking
• Zogo Financial Literacy App
• GreenPath Financial Wellness Counseling
• NXG Protect Identity Protection Service
• Courtesy Pay and Overdraft Protection
• Zelle Person-to-Person Payments
• Co-Op Shared Branching Access

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature6 records

Partnerships

Nine partnerships are on record, tiered core and minor.

• Nemours Children's HealthcoreStrategic or Co-development Partner · 1 January 2025McCoy Cares Foundation sponsored the Nemours Children's Health Elf Workshop for the second consecutive year, covering gift-wrapping station expenses and connecting Toys for Tots partners with the hospital's toy donation program. McCoy team members volunteered to sort and wrap gifts.
• Toys for TotsminorStrategic or Co-development Partner · 1 January 2025McCoy's Facilities team connected local Toys for Tots campaign partners with Nemours Children's Health and delivered approximately 1,000-2,000 toys from the Toys for Tots warehouse to Nemours Children's Health.
• Hamlin Elementary SchoolcoreStrategic or Co-development Partner · 1 January 2024McCoy Cares Foundation provided a $5,000 donation to Hamlin Elementary School in November 2024 to assist the school's media center with purchasing books to meet the AASL recommended standard of 15-20 books per student.
• Aeras FoundationcoreStrategic or Co-development Partner · 1 January 2023McCoy donated over 200 computers valued at more than $27,000 to the Aeras Foundation, a nonprofit promoting digital equity in underserved communities. The computers were donated after IT upgrades at 15 branches and back-office departments.
• Boys & Girls ClubcoreStrategic or Co-development Partner · 1 January 2023Computer lab areas were established at two Boys & Girls Club locations in Taft and Apopka with computers donated by McCoy Federal Credit Union through the Aeras Foundation partnership.
• Lancaster Elementary SchoolcoreStrategic or Co-development Partner · 1 January 2003McCoy Federal Credit Union has partnered with Lancaster Elementary School since 2003 through the Lancaster Christmas Program, an annual tradition where team members donate and deliver Christmas gifts to students in need. For 2025, the team supported 121 students with clothing, pajamas, jackets, toys, and stockings.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerMcCoy partners with national nonprofit GreenPath Financial Wellness to provide members with free financial counseling services, debt management plans, and financial wellness resources.
• Co-Op Shared BranchingcoreChannel Partner/ Reseller/ DistributorPartnership with Co-Op Financial Services enabling McCoy members to access their accounts at thousands of shared branching locations nationwide.
• The League of Credit Unions & AffiliatesminorOthersIndustry trade association for credit unions in the region. President/CEO Alvin Cowans received the 2025 Distinguished Service Award from this organization during ENGAGE 2026.

Scale indicators5 records

Recent moves7 records

Expansion highlights3 records

Direct peers

• CFE Federal Credit Union: Orlando-based federal credit union with consumer and business banking products serving Central Florida, providing direct competitive overlap in McCoy's core geographic market.
• Fairwinds Credit Union: Orlando-headquartered federal credit union serving Central Florida with similar consumer and business banking products, branch network, and field-of-membership structure, making it the most direct geographic and product peer.
• MIDFLORIDA Credit Union: Florida-based federal credit union offering consumer loans, mortgages, deposits, and business banking across Central Florida with multiple branches, directly comparable in product mix and geographic footprint.
• Grow Financial Federal Credit Union: Florida-based federal credit union offering deposit, lending, and business banking products with a comparable regional branch model and consumer/member focus.
• Addition Financial (formerly CFE) Credit Union: Central Florida credit union serving similar consumer and university-affiliated segments with comparable product offerings, branch presence, and member demographics in the Orlando market.

Regional players

• Achieva Credit Union: Florida-based credit union offering consumer loans, mortgages, and deposits; comparable on community banking model and mid-sized credit union operating profile.
• Space Coast Credit Union: Florida credit union serving Central and East-Central Florida markets with overlapping branch presence and consumer-focused product set, comparable on size and member demographics.

Broad incumbents

• Suncoast Credit Union: One of the largest credit unions in Florida with full consumer, mortgage, and business banking offerings; a scaled incumbent peer providing competitive benchmarking on rates, digital capabilities, and product breadth.
• Navy Federal Credit Union: Largest U.S. credit union with broad consumer and business banking products; while federally chartered like McCoy, it serves a different field of membership but represents the upper bound on scale, digital capability, and competitive rate pressure.
• VyStar Credit Union: Large Jacksonville-based Florida credit union providing consumer, mortgage, and business banking; a regional incumbent peer against which McCoy competes on rates, digital tools, and member experience.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/mccoyfcu
• Facebookfacebook.com/mccoyfcu
• LinkedInlinkedin.com/company/mccoy-federal-credit-union

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 Mccoy Federal Credit Union