Agriculture Federal Credit Union

What Agriculture Federal Credit Union does

Agriculture Federal Credit Union (AgFed) is a federally chartered, member-owned cooperative credit union founded in 1934 and headquartered in Merrifield, Virginia. It provides retail banking products and services to a Select Employee Group (SEG) anchored by employees of the U.S. Department of Agriculture and affiliated agricultural organizations, with physical branches co-located at the USDA South Building and the George Washington Carver Center (GWCC) in the Washington DC metropolitan area. Its product set spans deposit accounts (savings, checking, money market, share certificates, IRAs, youth savings), consumer lending (first mortgages, home equity, auto, personal, student, share-secured, LifeLine of Credit, and the small-dollar Pathway Loan), Visa credit cards (Platinum, Classic, Secured), and digital banking (online banking, mobile banking, remote deposit, online bill pay, Zelle, eStatements, A.R.T. phone banking, secure message center).

The underlying technology is a credit-union core banking platform extended with web and mobile front-ends, remote deposit capture, electronic bill payment, real-time P2P payments via Zelle, and Visa processing for credit and debit cards. The institution does not expose a developer API or SDK. AgFed monetizes primarily through net interest margin on loans and deposits, supplemented by transactional fee income (overdraft $33, stop payment $33, domestic wires $30, international wires $60, late charges at 20% of interest due or $30 minimum, $5 paper statement fee, $5 account-closure-within-6-months fee, $100 escheat fee), plus referral economics from partner relationships (TruStage insurance, Trust & Will, IdentityIQ, Car Groove). Customer acquisition combines SEG-affiliated employer relationships, branch presence, digital channels (website, mobile app, MoneyDig blog, social media, video tutorials), and a sales-led, relationship-based banking model under a "Your Partner for Life" positioning.

Name

Agriculture Federal Credit Union

Legal name

Agriculture Federal Credit Union

Website

https://agfed.org

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

101–250 employees

Short description

Agriculture Federal Credit Union is a federally chartered, member-owned cooperative founded in 1934, headquartered in Merrifield, Virginia, serving USDA employees and the agricultural community with deposit accounts, consumer and mortgage loans, Visa credit cards, and digital banking through DC-area branches.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Agricultural & Rural Cooperatives (Farm Credit/Co-op Banks) (FSABAEAG)

Keywords

• Consumer banking services
• Credit union lending
• Mortgage and auto loans
• Digital banking platforms
• Deposit account products

Headquarters

HQ city

Merrifield

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, Infrastructure, Marketing or Sales, Others

Revenue model

1. Interest Income from Lending: Primary revenue source from various loan products including mortgages, auto loans, personal loans, student loans, home equity loans, and credit cards. Interest is earned on the difference between lending rates and deposit rates.
2. Fee-Based Income: Revenue from various account and service fees including ATM fees, overdraft fees, wire transfer fees, late payment fees, and account service charges. Schedule of fees includes charges for stop payments ($33), returned items ($33), courtesy pay ($33), ATM withdrawals beyond free limit ($3.50), and various loan-related fees.
3. Deposit Interest Spread: Revenue generated from the spread between interest paid on member deposits (savings, checking, money market, certificates) and interest earned on loans extended to members.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Agriculture Federal Credit Union is a federally chartered, member-owned cooperative that provides retail banking products and services to USDA employees, agricultural community members, and affiliated Select Employee Groups. Its core offering spans deposit products (savings, checking, money market, share certificates, IRAs), consumer and mortgage loan products, Visa credit and debit cards, and digital banking services (online banking, mobile banking, remote deposit, bill pay, Zelle, eStatements).

Product overview

Agriculture Federal Credit Union offers a comprehensive suite of traditional banking products and digital services. The core offerings include savings and checking deposit accounts, a variety of loan products (first mortgages, home equity loans, auto loans, personal loans, student loans, and small-dollar Pathway loans), and Visa credit cards. Digital banking capabilities encompass online and mobile banking, remote deposit capture, bill pay, Zelle person-to-person payments, and eStatements. The institution also provides a range of self-service financial planning tools including mortgage, loan, retirement, and savings calculators. Through partner relationships, members access TruStage insurance products, Trust & Will estate planning services, Identity IQ protection, and Car Groove vehicle search tools.

Differentiator

Problem solved

Functional benefit

Products and services

• Savings Accounts
• Checking Accounts Free checking accounts with Visa Debit Card access, including GO Direct checking and Advantage Spend checking accounts.
• First Mortgages Home purchase loan products with first mortgage options, including fixed and adjustable rate mortgages for members.
• Home Equity Loans Home equity lines of credit and loans allowing members to borrow against their home's equity.
• Auto Loans Vehicle financing for new and used automobiles, including first-time auto buyer programs and GAP insurance coverage.
• Visa Credit Cards Credit card products including Visa Platinum, Visa Classic, and Visa Secured cards for members with varying credit profiles.
• Personal Loans Unsecured personal loans for various needs, including debt consolidation and major purchases.
• Pathway Loan Small dollar loan product offering up to $1,000 for 12 months with no credit check requirement.
• Student Loans Private student loans to help cover college costs, including student loan refinancing options.
• LifeLine of Credit Revolving line of credit available to members for flexible borrowing needs.
• Share Secured Loans Loans secured by the member's own savings, using shares as collateral.
• Youth Savings Savings accounts designed specifically for young members and financial education.
• Online Banking Web-based banking platform enabling members to manage accounts, view transactions, pay bills, and transfer funds online.
• Mobile Banking Smartphone and tablet application for banking on-the-go with full account access.
• Remote Deposit Mobile check deposit service allowing members to deposit checks by photographing them with a mobile device.
• Online Bill Pay Electronic bill payment service for paying recurring and one-time bills to merchants and service providers.
• Zelle Person-to-Person Payments Person-to-person payment service integrated within online and mobile banking for sending money to friends and family.
• Youth Savings Savings accounts designed specifically for young members and financial education.

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Five partnerships are on record, tiered minor and core.

• TruStageminorGTM or Marketing PartnerTruStage provides insurance products including auto and home insurance offered to AgFed members. AgFed receives referral marketing fees and members benefit from potential insurance savings through the partnership.
• Trust & WillminorGTM or Marketing PartnerEstate planning service partner offering AgFed members exclusive savings of 20% off any estate plan through the Trust & Will platform, integrated as a member benefit resource.
• VisacoreTechnology or IntegrationVisa provides credit card infrastructure and debit card processing services for AgFed's Visa Platinum, Visa Classic, and Visa Secured credit cards as well as Visa Debit Card services.
• ZellecoreTechnology or IntegrationReal-time payment integration through Zelle allowing AgFed members to send and receive money quickly and securely directly between bank accounts.
• IdentityIQminorGTM or Marketing PartnerIdentity protection services partner offering AgFed members access to identity theft protection and credit monitoring services through the Love My Credit Union program.

Recent moves6 records

Expansion highlights5 records

Emerging players

• Alliant Credit Union: Digital-first, nationwide credit union open to a broad membership base with competitive deposit and lending rates. Comparable online/mobile banking stack to AgFed but competes on a national, community-charter basis rather than SEG-bound.
• SoFi Bank: Digital-first bank/fintech offering high-yield deposits, lending, and a broad financial product suite. Comparable digital banking offering to AgFed's online/mobile platform but competes nationally on rate and user experience rather than SEG affiliation.

Regional players

• First Farmers & Merchants Bank: Regional community bank serving agricultural and rural customers in the southeastern U.S. Comparable agricultural-segment focus to AgFed's USDA/agricultural-community orientation, but operates as a chartered bank rather than a credit union.

Broad incumbents

• Bank of America: National bank with a large federal-government employee banking program and extensive DC-area presence. Comparable overlap with AgFed in serving USDA and federal-agency employees, but at vastly greater scale and as a for-profit bank rather than cooperative.

Direct peers

• BECU (Boeing Employees Credit Union): Large community-chartered credit union historically anchored to Boeing employees but now community-based, offering full banking, lending, and digital services. Comparable single-employer-anchored credit union model that has since diversified, similar in trajectory to where AgFed could expand.
• USAA Federal Savings Bank: Member-owned financial services provider serving military members and their families, offering banking, credit cards, lending, and insurance. Comparable federally chartered, captive-membership model focused on government-affiliated segments like AgFed's USDA focus.
• Congressional Federal Credit Union: Credit union serving employees of Congress, federal agencies, and select employer groups in the Washington DC area. Closest geographic and SEG peer to AgFed, competing for the same USDA and federal-agency membership pool in the DC metro.
• Lake Michigan Credit Union: Large community-chartered credit union offering full banking, mortgage, and digital services. Comparable mid-sized credit-union operating model with diversified deposit and lending products and digital channel investment similar to AgFed's.
• PenFed (Pentagon Federal Credit Union): Federally chartered credit union serving military, DoD, and federal employees with checking, mortgages, auto loans, and credit cards. Comparable SEG model and product suite to AgFed, with similar reliance on a captive federal-employee membership base.
• Navy Federal Credit Union: World's largest credit union, serving U.S. military, DoD, and federal civilian employees. Directly comparable to AgFed as a federally chartered, SEG-based credit union offering full personal banking, lending, and digital services to a captive government-employee segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/Ag_Fed
• Facebookfacebook.com/AgFedCreditUnion
• LinkedInlinkedin.com/company/agriculture-federal-credit-union

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 Agriculture Federal Credit Union