Penlanco

What Penlanco does

Penlanco Federal Credit Union is a federally chartered, member-owned financial cooperative founded in 1938 and headquartered in Lancaster, Pennsylvania. It operates as a company-sponsored credit union originally serving PPL Electric Utilities employees and now extending membership to nearly 40 employer groups under its CUBE (Credit Union Benefits) Program, as well as veterans and military families through the National Credit Union Coalition for America's Heroes partnership. Its deposit and lending products span Share Savings, Perks Checking, Money Market Savings, Share Certificates, IRAs, HSAs, and Youth Accounts on the funding side, and Auto, RV, Home Equity, Personal, Education, Credit Builder, Shared Secured, and Signature Line of Credit loans, plus Visa credit cards (issued through Elan Financial Services) on the lending side. The credit union also distributes TruStage insurance products and IWS/Allied Solutions GAP and extended warranty coverages as ancillary member services.

Name

Penlanco

Legal name

Penlanco Federal Credit Union

Website

https://penlancofcu.com

Company type

Private

Founded year

1938

Operating status

Operating

Headcount range

1–10 employees

Short description

Penlanco Federal Credit Union is a federally chartered, member-owned cooperative in Lancaster, PA, offering deposit, lending, and insurance products to employees of nearly 40 employer groups plus veterans and military families.

Ownership category

akta.pro rank

Product category

Community Credit Union Banking

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Consumer banking services
• Credit union lending
• Deposit account products
• Auto and home loans
• Community financial cooperative

Headquarters

HQ city

Lancaster

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: Primary revenue stream from interest charged on auto loans, home equity loans, personal loans, recreational vehicle loans, education loans, credit builder loans, signature lines of credit, and Visa credit cards. Interest rates vary by product type, term, and borrower credit score.
2. Interest Income on Savings Products: Earnings from investing member deposits in certificates, money market accounts, IRAs, and share savings. The credit union pays competitive APY rates while earning spread income.
3. Fee Income: Various service fees including overdraft transfer fees, wire transfer fees, stop payment fees, convenience fees for online payments ($5.00), and ATM fees beyond the free network.
4. Insurance Product Referrals: Revenue from referral arrangements with TruStage Insurance for home, auto, life, and AD&D insurance products offered to members.
5. GAP and Warranty Products: Guaranteed Asset Protection and extended vehicle service warranties offered through IWS partnership, providing coverage that protects members against financial loss from vehicle total loss or mechanical breakdowns.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels8 records

Core offering

Penlanco Federal Credit Union is a member-owned financial cooperative offering consumer banking and lending services. Its core offering centers on deposit accounts (Share Savings, Perks Checking, Money Market, Certificates, IRAs, HSAs, Youth Accounts) and loan products (auto, RV, home equity, personal, education, credit builder, Visa credit cards). Members access services via a branch in Lancaster, PA, Aurora Online Banking, iOS/Android mobile apps, and the CU$ surcharge-free ATM network.

Product overview

Penlanco Federal Credit Union operates as a member-owned financial cooperative offering a comprehensive suite of banking products and financial services. The core offering centers on deposit accounts (Share Savings, Perks Checking, Money Market Savings, Youth Accounts, IRAs, HSAs, and Certificates) and lending products (Auto Loans, RV Loans, Home Equity Loans, Personal Loans, Education Loans, Credit Builder Program, and Visa Credit Cards). Supporting services include GAP Protection, Extended Warranty, Debt Protection, TruStage Insurance, and the CUBE Employer Partnership Program. Digital banking is delivered through online and mobile platforms with Google Authenticator security. The credit union serves employer groups and veterans through the National Credit Union Coalition for America's Heroes, offering financial wellness resources and educational tools including budgeting worksheets and credit management guidance.

Differentiator

Problem solved

Functional benefit

Brands

• CUBE Program (Credit Union Benefits Program): A free program for employers and groups that adds companies to the membership network, allowing employees access to financial services.
• Perks Checking
• Credit Builder Program
• Bright Light Scholarship

Products and services

• Perks Checking Free checking account with monthly rewards program (Perks Plus) offering $8 cash, ATM fee refunds up to $10/month, 0.10% loan discounts, and complimentary replacement debit cards for members meeting three monthly qualifiers (eStatements enrollment, $1,000+ direct deposits, 20 debit transactions). No fees, no minimums, free debit card, and starter checks.
• Share Savings Primary savings account required for credit union membership with $5 opening deposit, offering 0.25% APY dividend earnings and access to additional account services.
• Money Market Savings
• Share Certificates & IRA Certificates
• Christmas Club
• Extra Savings
• Youth Accounts
• Health Savings Accounts (HSA)
• Individual Retirement Accounts (IRA)
• Auto Loans
• Recreational Vehicle Loans
• Home Equity Loans
• Personal Loans
• Signature Line of Credit
• Education Loans
• Shared Secured Loans
• Credit Builder Program
• Visa Credit Cards
• Online & Mobile Banking
• Free Bill Payer

Quantifiable outcome

• Loan rates typically 1-3% lower than other credit unions
• +5 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Six partnerships are on record, tiered core and minor.

• National Credit Union Coalition for America's Heroes (NCUCAH)coreStrategic or Co-development PartnerPartnership enabling Penlanco FCU to serve veterans, active-duty military, reservists, and their families. Qualifying service members receive complimentary NCUCAH membership alongside their Penlanco FCU membership. This partnership expands the credit union's reach to military families in Lancaster County and beyond.
• CUBE Program Employer Partners (nearly 40 organizations)coreChannel Partner/ Reseller/ DistributorCredit Union Benefits (CUBE) Program allows employers and organizations to add Penlanco FCU to their employee benefits package at no cost. Partner organizations include fire departments, healthcare providers, manufacturers, and other Lancaster County employers. Benefits include on-site seminars, social media exposure, and newsletter features for partners.
• TruStage InsurancecoreGTM or Marketing PartnerTruStage offers home, auto, life, and AD&D insurance products to Penlanco FCU members through a partnership providing discounted rates designed for credit union members. Includes $1,000 of no-cost AD&D insurance for eligible members ages 18+.
• Sallie MaeminorGTM or Marketing PartnerPenlanco FCU refers members needing loans over $30,000 or preferring traditional student loans with deferment options to Sallie Mae for additional financing options beyond Penlanco's personal loan-based education financing.
• Columbia Borough Fire DepartmentminorOthersBeneficiary of Penlanco FCU's 7th Annual Designer Purse Bingo event. The credit union organizes community fundraising events supporting local fire departments and emergency services.
• East Petersburg Fire CompanyminorOthersBeneficiary of Penlanco FCU's 7th Annual Designer Purse Bingo event. Community partnership supporting local volunteer fire services.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• Connexus Credit Union: Connexus CU is a large digital-first credit union offering high-yield savings, competitive loan rates, and national membership via select employer groups and associations. It is a broad incumbent peer showcasing how the employer-group membership model can scale nationally with digital distribution.
• Fulton Bank: Fulton Bank is a major Pennsylvania-based regional bank with significant Lancaster County presence, offering the full suite of deposit, lending, mortgage, and wealth products. As a much larger broad incumbent, it competes with Penlanco for the same local consumer base but does not specialize in the credit union employer-group niche.

Direct peers

• Belco Community Credit Union: Belco Community CU serves Pennsylvania-based employer groups with similar checking, savings, lending, and digital banking offerings. It operates on a parallel community-credit-union model with employer-group eligibility, making it a directly comparable peer for member acquisition and pricing competition.
• Freedom Credit Union: Freedom CU is a Pennsylvania-chartered community credit union offering checking, savings, lending, and digital banking services across the greater Philadelphia and southeastern PA region. It competes for similar employer-group members and rate-sensitive borrowers.
• PSECU (Pennsylvania State Employees Credit Union): PSECU is one of the largest Pennsylvania-based credit unions with a defined employer-group field of membership model similar to Penlanco's anchor-employee structure. It competes for the same Pennsylvania state-related employee members with comparable deposit and loan products and digital banking capabilities.
• Citadel Federal Credit Union: Citadel FCU is a Pennsylvania-based federally chartered credit union offering deposit accounts, mortgages, auto loans, and digital banking to employer-group and community members. It operates as a larger-scale peer with a similar product set and target market overlap in PA.
• Members 1st Federal Credit Union: Also headquartered in Lancaster, PA, Members 1st FCU operates as a community-chartered credit union serving the south-central Pennsylvania region with deposits, lending, and digital banking. It is the most direct geographic peer to Penlanco, competing for the same employer groups, members, and lending relationships in Lancaster County.

Regional players

• Mid Penn Bank: Mid Penn Bank is a community bank headquartered in Millersburg, PA, serving central Pennsylvania including the Lancaster market with deposit and lending products. It is a regional competitor for the same member/customers but operates on a for-profit banking charter rather than cooperative structure.

Emerging players

• Educational Systems Federal Credit Union: Educational Systems FCU operates on a defined employer-group (school district) membership model similar to Penlanco's CUBE Program structure. It offers the same core deposit and loan products to a different employee vertical but reflects the same scalable employer-partnership GTM motion.
• Police and Fire Federal Credit Union: Police and Fire FCU is a Philadelphia-based credit union with a defined public-safety employer-group field of membership. It parallels Penlanco's employer-group acquisition model and similar lending product mix, though operating at greater scale within a more specific vertical.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/texas-land-bank

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Penlanco