Frankfort Community Federal Credit Union

Name

Frankfort Community Federal Credit Union

Legal name

Frankfort Community Federal Credit Union

Website

https://frankfortcu.org

Company type

Private

Founded year

1959

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Community Banking (Retail Banking)

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Savings accounts
• Community banking

Headquarters

HQ city

Frankfort

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Deposit Accounts: Members maintain savings and checking accounts with the credit union. Interest paid on deposits provides a key source of funding for lending operations.
2. Consumer Lending: Interest income from auto loans, RV/boat loans, home equity loans, signature loans, and revolving credit lines. Includes mortgage services through Mortgage Center partnership.
3. Fee Income: Various fees including ATM/debit card replacement, check copies, wire transfers, overdraft fees, and other standard banking service fees as outlined in the fee schedule.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Frankfort Community Federal Credit Union is a federally chartered, member-owned credit union that provides retail banking products to individuals in Benzie County, Michigan. Its core offerings include share/savings accounts (Regular, Secondary, Super Saver), checking accounts (Regular and White Cap), share certificates, and a consumer lending portfolio (auto, RV/boat, home equity, signature, revolving line of credit, seasonal loans). Mortgages and credit cards are delivered through partner platforms (Mortgage Center and LSC myCUcard).

Product overview

Frankfort Community Federal Credit Union operates as a single-institution community credit union offering a unified portfolio of basic financial products. The core offerings center on savings accounts (Regular, Secondary, and Super Saver tiers), checking accounts (including the new White Cap Checking with 4.00% APY), and certificate accounts with competitive rates. The lending suite includes auto/RV/boat loans, home equity loans, signature loans, and revolving credit lines. The credit union extends its offerings through strategic partnerships: credit cards via LSC's myCUcard program, mortgages through Mortgage Center, loan payments via LoanPay Xpress, and ATM access through Co-OP Networks. The product architecture follows a traditional credit union model where the share (savings) account serves as the foundational membership requirement, with checking, loans, and specialty accounts (Christmas Club, Spring Break Club) serving as complementary products.

Differentiator

Problem solved

Functional benefit

Products and services

• Regular Savings (Share) Account Primary share savings account with a $5.00 minimum deposit, required for all credit union members and representing share ownership in the cooperative.
• Secondary Savings Additional savings account requiring a $50 minimum deposit, designed for members who want a separate savings account beyond their primary share.
• Super Saver Account High-balance savings account requiring $5,000 minimum average daily balance to earn dividends, featuring tiered dividend rates that increase with balance ($0–$4,999.99: 0.15% APY; $5,000–$24,999: 0.35% APY; $75,000+: 0.55% APY).
• Regular Checking (Share Draft) Free checking account offering Real Time EMV ATM/Debit Cards, Overdraft Protection Loan, Online Bill Pay, and a 0.25% APY dividend when the account maintains a $500 average daily balance.
• White Cap Checking High-yield checking account offering 4.00% APY, introduced to attract members seeking competitive returns on checking balances.
• Share Certificates (CDs) Term share certificates with $500 minimum deposit offered across 6-month (3.04% APY), 12-month (3.30% APY), 24-month (3.56% APY), and 36-month (3.71% APY) terms.
• Christmas Club Account Seasonal-purpose savings account designed for holiday savings, paying 0.35% APY on balances up to $5,000.
• Spring Break Club Account Seasonal-purpose savings account designed for vacation planning, paying 0.35% APY on balances up to $5,000.
• Auto Loans (New and Used) Vehicle financing for new and used automobiles, with new auto loans as low as 4.5% APR and used auto loans as low as 5% APR over 12-month terms.
• RV, Boat, ATV, Motorcycle, and Snowmobile Loans Recreational vehicle financing covering RVs, boats, ATVs, motorcycles, and snowmobiles, with new RV loans at 4.5% APR and used RV loans at 5% APR over 12-month terms.
• Summer Daze Loan Seasonal-purpose personal loan offered at 5.99% APR over a 12-month term to help members with summer-related expenses.
• Signature Loan Unsecured personal loan up to $5,000 at 8% APR over a 12-month term for general personal needs.
• Revolving Line of Credit Flexible revolving credit line at 9% APR over a 42-month term allowing members to borrow funds as needed after approval.
• Home Equity Loans (Fixed Rate) Fixed-rate home equity loan allowing members to use existing home equity for debt consolidation, home repairs, or upgrades, priced at 5.00% APR for 5 years, 6.00% APR for 10 years, or 7.00% APR for 15 years.
• Mortgages (via Mortgage Center) Mortgage products offered through referral partnership with Mortgage Center, a credit-union-founded mortgage provider serving credit union members for more than 25 years.
• Credit Cards (myCUcard via LSC) Credit card program offered through partnership with LSC's myCUcard platform, providing fraud protection and rewards benefits to FCFCU members.
• LoanPay Xpress Online loan payment service allowing members to pay loans using any debit or credit card through a secure payment portal.
• Real Time EMV ATM/Debit Cards EMV chip-enabled debit cards participating in the Co-Op Networks, giving members fee-free access to nearly 30,000 ATMs nationwide.

Named customers1 record

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• Mortgage CentercoreStrategic or Co-development PartnerFounded by credit unions to exclusively serve credit union members for over 25 years. Offers mortgage products at competitive rates. FCFCU refers members to Mortgage Center for mortgage financing needs.
• LSC (myCUcard program)coreTechnology or IntegrationPartnership to offer credit cards to FCFCU members through the myCUcard program. Cards include fraud protection and rewards benefits.
• Co-Op NetworkscoreTechnology or IntegrationFCFCU's debit card program is part of the Co-Op Networks, providing members access to nearly 30,000 fee-free ATMs nationwide.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Regional players

• Northland Area Federal Credit Union: Community-chartered credit union serving northern Michigan. Comparable as a similarly-sized northern Lower Peninsula credit union targeting community deposit and consumer lending relationships.
• Honor Credit Union: Michigan-based community credit union serving northern Lower Peninsula communities including areas near Benzie County. Comparable as a community-chartered Michigan credit union competing for similar retail deposits and consumer loans.
• Traverse City State Bank: Community bank headquartered in nearby Traverse City, serving the northern Michigan region including Benzie County. Comparable as a local retail banking competitor for deposits, mortgages, and consumer loans in the same geographic footprint.
• Advia Credit Union: Michigan-based community credit union serving southwest and northern Lower Peninsula. Comparable as a community-chartered Michigan credit union offering similar retail deposit and consumer loan products.

Broad incumbents

• Michigan State University Federal Credit Union: Large Michigan-headquartered federal credit union offering a full retail product suite. Comparable as a federally chartered Michigan credit union with community banking roots, though operating at much greater scale.
• Huntington National Bank: Major regional bank with significant retail presence across Michigan, including branches in markets near Benzie County. Comparable as a competitor for consumer deposits, auto lending, and mortgages in the same regional geography.
• Lake Michigan Credit Union: Michigan's largest credit union with statewide membership and a broad product set (deposits, lending, mortgages, digital). Comparable as a Michigan-headquartered community-oriented credit union, but operating at vastly greater scale than FCFCU.
• 5th/3rd Bank (Fifth Third Bank): Large regional bank with branches and consumer lending presence across Michigan. Comparable as a mainstream consumer banking competitor offering deposits, auto loans, mortgages, and credit cards to overlapping retail customers.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/fcfcumi
• LinkedInlinkedin.com/company/frankfort-community-federal-credit-union

Compliance1 record

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 Frankfort Community Federal Credit Union