Health Care Professionals Federal Credit Union

What Health Care Professionals Federal Credit Union does

Health Care Professionals Federal Credit Union (HCPFCU, dba "HCP Credit Union") is a federally chartered, member-owned financial cooperative founded circa 1976 and headquartered in Richmond, Indiana, with a second branch in Connersville co-located at the Reid Health facility. It serves healthcare professionals and their families in eastern Indiana, with membership extended to broader community consumers, teens, and children through targeted programs. The credit union operates a traditional retail banking business offering savings and checking accounts, debit and credit cards (Visa/Mastercard, including a 12.99% APR cash-back card), a full lending suite (auto loans from 4.50% APR, personal loans from 9.99% APR up to $25,000, mortgages, HELOCs from 6.75% variable APR, RV/motorcycle, student, and secured loans), term share certificates up to 3.95% APY on a 13-month promotional product, and ancillary offerings including life insurance, GAP Plus, mechanical repair coverage, and wealth planning via a GreenPath Financial Wellness partnership.

The technology stack is a standard third-party digital banking platform — online banking hosted at mobicint.net, iOS and Android mobile apps, remote deposit capture, remote card controls, push notifications, online bill pay, and mobile wallet support for Apple Pay, Google Pay, and Samsung Pay. There is no proprietary technology or AI capability; differentiation rests on community proximity, regulatory status (NCUA-insured, NMLS #800677, Equal Housing Lender), and member relationship depth rather than technology.

Revenue is generated primarily through net interest spread on the loan portfolio, supplemented by transaction-based service fees (overdraft $20, ATM, wire, and account fees) and dividend-spread income on deposits. Member acquisition is driven by direct-to-consumer activity at the two branches, a $150 member referral program ("Share The Love"), a Bauer Financial 5-Star rating, and community event participation. Pricing is publicly disclosed and tiered by product and creditworthiness, with no application fees on consumer loans and free checking/savings as headline member benefits.

Name

Health Care Professionals Federal Credit Union

Legal name

Health Care Professionals Federal Credit Union

Website

https://hcpfcu.org

Company type

Private

Founded year

1976

Operating status

Operating

Headcount range

11–50 employees

Short description

Health Care Professionals Federal Credit Union is a federally chartered, member-owned credit union serving healthcare professionals and their families in eastern Indiana through two branches in Richmond and Connersville, offering standard retail banking, consumer lending, and digital banking services.

Ownership category

akta.pro rank

Product category

Credit Union Retail Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

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

Keywords

• Credit union services
• Consumer lending
• Retail banking
• Deposit accounts
• Digital banking

Headquarters

HQ city

Richmond

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, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income: Primary revenue source from interest charged on loans including auto loans, mortgages, HELOCs, personal loans, credit cards, and student loans. As a credit union, profits are returned to members through better rates and lower fees.
2. Service Fees: Various fee income including overdraft fees ($20), ATM fees, wire transfer fees, account maintenance fees, and loan-related fees. Fee schedule is publicly available and reviewed regularly.
3. Savings and Investment Products: Income from share accounts, term certificates, IRAs, and Christmas clubs where dividends paid are less than interest earned on loans.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Health Care Professionals Federal Credit Union is a federally chartered, member-owned credit union providing full-service retail banking to healthcare professionals and their families in eastern Indiana. Its core offerings include deposit accounts (savings, checking, youth accounts, term share certificates, IRAs), a full consumer lending suite (auto, personal, mortgage, HELOC, RV/motorcycle, student, secured loans), a cash rewards credit card, and complementary financial services such as wealth planning, credit review, and insurance products. Members access services through two physical branches (Richmond and Connersville) and digital channels including online banking, mobile app, remote deposit, mobile wallet, and online bill pay.

Product overview

Health Care Professionals Federal Credit Union offers a comprehensive suite of traditional banking products and services through a single integrated platform. The core offerings include savings and checking accounts, a full range of lending products (auto loans, personal loans, mortgages, HELOCs, student loans, RV/motorcycle loans, and secured loans), and credit cards with cash rewards. Beyond core banking, HCPFCU provides insurance products (life insurance, GAP coverage, and mechanical repair coverage) and financial planning services. Digital banking services include online banking, mobile banking apps, mobile wallet integration (Apple Pay, Google Pay, Samsung Pay), remote deposit capture, and remote card controls. The credit union also offers specialized accounts for kids and teens as part of its youth financial education focus.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts Basic savings/share accounts for members, including a free regular share account with tiered dividend rates, available to healthcare-professional members, their families, and qualifying community members.
• Checking Accounts Free checking/share draft accounts with debit card access for everyday banking transactions by individual members.
• Kids Savings Specialized savings account designed for children to encourage early financial literacy and savings habits, available to members' children.
• Teen Accounts Banking account program for teenagers designed to help build credit and financial responsibility, part of an award-winning teen program that helps teens graduate with great credit.
• Auto Loans Vehicle financing for new and used automobiles with rates as low as 4.50% APR for new vehicles and 5.00% APR for used, with terms up to 84 months and no application fee. Available to members.
• Cash Rewards Credit Card Credit card offering 1% cash back on purchases with no annual fee, fixed rate of 12.99% APR, available to members for everyday spending.
• Personal Loans Unsecured personal loans up to $25,000 with rates as low as 9.99% APR, terms up to 84 months, and no application fee, available to members.
• Mortgage Loans Home mortgage financing products for purchasing or refinancing residential properties, available to members.
• Home Equity Line of Credit (HELOC) Variable-rate Home Equity Line of Credit allowing members to borrow against home equity with rates as low as 6.75% APR.
• RV & Motorcycle Loans Financing for recreational vehicles and motorcycles with terms up to 180 months, available to members.
• Secured Loans Loans secured by collateral such as savings accounts or share certificates, available to members.
• Student Loans Education financing for college and vocational training expenses, available to members and their families.
• Term Share Certificates Certificate of deposit products with terms from 12 to 36 months, including a promotional 13-month certificate at 3.95% APY ($5,000 minimum). 12-month at 1.106% APY, 24-month at 1.257% APY, 36-month at 1.409% APY, all with a $500 minimum.
• IRA Term Share Certificates Individual Retirement Account certificates including Traditional and Roth options with same rate structure as standard term share certificates, available to members for retirement savings.
• Life Insurance Life insurance coverage with instant quote availability, offering protection for families, available to members.
• GAP Plus Coverage Guaranteed Asset Protection coverage that pays the difference between the insurance payout and loan balance on a totaled or stolen vehicle, available to members with auto loans.
• Mechanical Repair Coverage Extended warranty coverage for vehicle mechanical repairs, available to members with auto loans.
• Financial Planning (Wealth Planning) Wealth planning and financial planning services for long-term financial goals, available to members.
• Online Banking Secure online banking platform for account management, transfers, bill payments, and loan applications, available 24/7 to members.
• Mobile Banking App Mobile banking application available for iOS and Android devices providing full account access, remote deposit, mobile wallet support, push notifications, remote card controls, and online bill pay for members on the go.

Quantifiable outcome

• Auto loans as low as 4.50% APR
• +4 more outcomes

Named customers4 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

Integration5 records

Feature6 records

Partnerships

One partnership is on record.

• GreenPath Financial WellnesscoreStrategic or Co-development PartnerGreenPath Financial Wellness is a financial counseling service offered to HCP Credit Union members. GreenPath provides credit counseling, debt management, housing counseling, and bankruptcy counseling services to help members achieve financial wellness. This partnership provides members access to certified financial counselors.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Direct peers

• Purdue Federal Credit Union: Indiana-based employer/occupational credit union serving the Purdue community; comparable as an occupational-field-of-membership CU offering a similar full-service banking and lending product suite.
• HealthCare Associates Credit Union: Indiana-headquartered credit union serving healthcare professionals and their families — the closest direct analog to HCP's healthcare-employee field of membership and similar product suite including checking, savings, and consumer lending.

Regional players

• Elements Financial Credit Union: Indiana-based credit union offering a similar full-service banking, lending, and wealth management suite; competes in overlapping Indiana geographies for retail and occupational members.
• First Financial Credit Union: Indiana-headquartered community credit union providing consumer and mortgage lending, savings, and digital banking comparable to HCP's core offerings in the Indiana market.
• Indiana Members Credit Union: Large Indiana-headquartered credit union serving members statewide with a similar product mix including auto loans, mortgages, and digital banking; comparable regional competitor for HCP's Indiana footprint.
• Forum Credit Union: Indiana-based credit union offering a comparable full-service suite including checking, savings, consumer loans, mortgages, and digital banking tools; competes for the same Indiana consumer household.

Broad incumbents

• Baxter Credit Union: Large healthcare-affiliated credit union serving health system employees nationwide; comparable healthcare-employee field of membership but at substantially greater scale and broader geographic reach.

Others

• GreenPath Financial Wellness: Financial counseling partner of HCP and credit bureau/counseling provider used across the credit union industry; relevant ecosystem participant and potential benchmarking partner for member financial-wellness programs.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks4 records

Key highlights7 records

Customer concentration

• Xx.com/HCPFCU
• LinkedInlinkedin.com/company/health-care-professionals-federal-credit-union

Compliance3 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 Health Care Professionals Federal Credit Union