Public Service Credit Union

What Public Service Credit Union does

Public Service Credit Union is a member-owned financial cooperative founded in 1931 in Fort Wayne, Indiana, operating as the city's oldest credit union. It provides consumer banking and lending products — including checking, savings, share certificates, IRAs, vehicle and personal loans, mortgages, credit-builder loans, credit cards, and student loans (partnered with ISL Education Lending) — to residents and workers of Allen and Huntington Counties and their immediate family members. The distribution footprint consists of three branches (Fort Wayne, Huntington, Waynedale) augmented by CO-OP Shared Branch and Alliance One ATM networks, plus a digital stack comprising Its Me 247 online banking, iOS/Android mobile apps, text banking, and video/chat with the 'Bubbles' AI chatbot.

Revenue is generated primarily through net interest income on the loan portfolio (auto APRs from 4.14%, personal loans up to 11.24%, credit cards 11.80%), supplemented by interchange fees on no-fee VISA cards, ACH Instant Deposit convenience fees ($5/transaction), loan insurance and protection products, and ancillary fee income. The cooperative returns profits to members via higher deposit rates (Super Smart Checking up to 4.00% APY), lower loan rates, no-fee credit cards, and member rewards including a $100 refer-a-friend program and Loyalty Points redeemable for rate discounts and gear.

The credit union operates a community-led go-to-market combining earned media coverage of the annual Project Giveback holiday initiative, a TikTok/youth-focused acquisition push, and partnership-driven ecosystem extensions (SavvyMoney, Zogo, Trustage). The 2023 merger with Huntington County FCU and a recent cadence of product launches — including Giveback Checking, pre-approved digital loan offers, and AI-augmented video banking — indicate ongoing modernization within a small (11–50 employees), geographically concentrated operating model.

Name

Public Service Credit Union

Legal name

Public Service Credit Union

Website

https://mypscu.com

Company type

Private

Founded year

1931

Operating status

Operating

Headcount range

11–50 employees

Short description

Public Service Credit Union is a member-owned financial cooperative founded in 1931 in Fort Wayne, Indiana, serving Allen and Huntington County residents with consumer banking, lending, and digital banking products across three branches and mobile/online platforms.

Ownership category

akta.pro rank

Product category

Retail Banking / Credit Union Services

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
• Auto loan financing
• Share certificate deposits
• Mobile banking platform
• Credit union membership

Headquarters

HQ city

Fort Wayne

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Net Interest Income (Loan Portfolio): PSCU earns interest revenue on its loan portfolio, including auto loans, personal loans, mortgages, credit cards, student loans, and credit builder loans. Vehicle loan APR as low as 4.14%, personal loans up to 11.24%, credit cards 11.80%. This is the primary revenue driver for the credit union.
2. Share Certificate and Savings Account Fees: Fees associated with share certificates, IRAs, and savings accounts contribute to revenue. ACH Instant Deposit carries a $5 convenience fee.
3. Credit Card Fees: VISA credit cards offered with NO annual fees, NO cash advance fees, and NO balance transfer fees. Revenue derived from interchange fees on card transactions.
4. Membership Fees: A minimum $5 opening deposit establishes membership. Loan insurance and loan protection products generate additional fee income.
5. Referral Incentive Cost Recovery: The $100 refer-a-friend bonus program incentivizes new member acquisition, with costs offset by long-term member lifetime value through loan and account relationships.

Pricing tiers

Go-to-market motion3 records

Distribution channels9 records

Marketing channels11 records

Core offering

Public Service Credit Union provides retail consumer banking products and lending services to its members in Allen and Huntington Counties, Indiana. Core offerings include rewards and standard checking accounts (Giveback Checking, Super Smart Checking, Smart Checking), savings and youth accounts, share certificates, IRAs, VISA credit cards, and a full loan portfolio covering auto/recreational, personal, mortgage, credit builder, and student loans. Members access services through three Indiana branches, the "It's Me 247" online banking platform, a mobile app with mobile check deposit, text banking, video/chat support, and shared branch and ATM networks.

Product overview

Public Service Credit Union offers a comprehensive suite of financial products and services organized around core banking functions: checking and savings accounts, loans (vehicle, personal, mortgage, student, credit builder), credit cards, and digital banking platforms. The credit union's digital banking ecosystem includes mobile banking app, online banking (It's Me 247), text banking, and video/chat customer service. Value-added services include credit score monitoring via Savvy Money, ACH Instant Deposit for early paycheck access, Payroll Certificates with automatic savings, Round Up Savings for passive saving, and the Zogo financial education app. The loyalty program (Loyalty Points) rewards members for product usage with redeemable perks. Recent additions include new checking accounts (Giveback Checking, Super Smart Checking), Video & Online Chat with AI chatbot support, and pre-approved loan offers. The credit union serves members in Allen and Huntington County, Indiana, and operates a community initiative called Project Giveback.

Differentiator

Problem solved

Functional benefit

Products and services

• Giveback Checking Rewards checking account that earns 3% cash back on purchases at local businesses in Huntington, Roanoke, and Fort Wayne, encouraging local commerce while providing checking functionality.
• Super Smart Checking High-yield rewards checking account that earns up to 4.00% APY on qualifying balances based on tiered rewards criteria.
• Smart Checking Interest-earning checking account available to members who meet three specified requirements, with standard features such as direct deposit and bill pay.
• Savings Accounts Basic savings accounts with competitive rates, serving as the foundation for credit union membership with a minimum $5 opening deposit.
• Youth Accounts Savings and checking accounts designed for minors and young members, opened with parental co-ownership, paired with the Report Card Rewards program that pays youth for uploaded grades.
• Share Certificates Certificate of deposit products with various term lengths and competitive rates, including special promotional CD offerings.
• IRAs Individual Retirement Accounts offering tax-advantaged retirement savings with traditional and Roth options.
• Payroll Certificate Savings certificate that automatically transfers funds from direct deposit on payday; terms range from 3 to 12 months with a $20 minimum to open.
• Round Up Savings Separate savings account that rounds up debit card purchases to the nearest dollar and deposits the difference, enabling passive savings.
• Vehicle/Auto Loans Financing for new and used vehicle purchases including pre-approval, specialty vehicle loans, and refinancing options, with APRs starting at 4.14%.
• Personal Loans Unsecured (and secured) loans for debt consolidation, home improvements, and other needs with competitive rates and flexible terms, with APRs up to 11.24%.
• Credit Builder Loan Loan product designed to help members establish or improve credit history through regular on-time payments reported to credit bureaus.
• Mortgages Home mortgage financing for purchasing or refinancing residential properties, with multiple term options and rate structures.
• VISA Credit Cards Credit card products with no annual fees, no cash advance fees, and no balance transfer fees, with APR of 11.80% and standard Visa features including fraud protection.
• Student Loans Private student loans and refinancing options offered through the partnership with ISL Education Lending, including loans for college students and parent borrowing.
• Mobile Banking App Full-featured mobile banking application for iOS and Android providing account access, mobile check deposit, biometric/PIN quick login, and card lock/unlock management.
• Online Banking (It's Me 247) Comprehensive 24/7 online banking platform providing account access, bill pay, fund transfers, e-statements, e-Alerts, and access to pre-approved loan offers.
• Text Banking SMS-based banking service allowing members to check balances, view transaction history, and transfer funds via short code IM247 (46247).
• ACH Instant Deposit Service that posts pending ACH transactions (paychecks and direct deposits) up to two days early, with a $5 convenience fee per transaction.
• Video & Online Chat Customer service channel combining the AI chatbot 'Bubbles' for basic questions with human escalation to chat messages or video banking during business hours.
• Mobile Check Deposit Remote deposit capture feature allowing members to deposit checks by photographing them with the mobile app, subject to defined limits.
• Pre-approved Loan Offers Personalized pre-approved loan offers available online to members via ePrescreen365, allowing members to view loan offers without a credit score impact.
• Loan Insurance Insurance products protecting loans by covering events such as death, disability, or involuntary unemployment, available to PSCU borrowers.
• Loan Protection Credit protection coverage for loan accounts providing payment assistance during difficult financial circumstances for borrowers.

Quantifiable outcome

• Members have saved over $4.9 million by refinancing loans from other financial institutions since 2013
• +4 more outcomes

Named customers9 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

Integration10 records

AI capability2 records

Feature10 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• ISL Education LendingminorStrategic or Co-development Partner · 1 November 2022PSCU partnered with ISL Education Lending, a nonprofit organization, to offer private student loans and student loan refinancing to members. ISL provides loans for college students and parents, with multiple refinance options. PSCU earns compensation for referrals. Free college planning tools and scholarships are also available through the partnership.
• ZogominorStrategic or Co-development PartnerPSCU partnered with Zogo, a financial education app, to help members build financial literacy. Members download Zogo using code MYPSCU and earn rewards while completing financial literacy modules. The partnership addresses the statistic that 73% of Americans stress about money.
• TrustageminorGTM or Marketing PartnerTrustage provides auto and home insurance products marketed to PSCU members through the credit union's website. Members receive insurance savings offers based on their credit union relationship.
• American Share InsurancecoreOthersAmerican Share Insurance provides excess share insurance coverage beyond the standard NCUA $250,000 coverage, offering members additional protection up to $1,000,000 per account. This is a credit union-owned guaranty corporation.
• Excess Share Insurance CorporationcoreOthersExcess Share Insurance Corporation provides additional insurance coverage up to $250,000 on member savings accounts as excess coverage beyond NCUA and American Share Insurance. A licensed insurance company providing supplementary protection.
• CO-OP Shared BranchcoreTechnology or IntegrationCO-OP Shared Branch network allows PSCU members to conduct branch transactions at hundreds of credit union locations nationwide. Network locator available at co-opcreditunions.org. IDCheck verification system required for out-of-state IDs from May 2025.
• Love My Credit Union RewardsminorGTM or Marketing PartnerLove My Credit Union Rewards program provides exclusive member discounts and offers through the credit union's Visa cards. PSCU members access special deals through the rewards portal.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Fort Financial Credit Union: Fort Wayne, Indiana-headquartered community credit union serving northeast Indiana. Directly comparable to PSCU in terms of geographic footprint (Allen County overlap), member base (consumer/SMB), and product mix (checking, auto loans, mortgages, credit cards).
• Beacon Credit Union: Indiana-based community credit union with branches across north-central Indiana including Fort Wayne. Competes head-to-head with PSCU for Allen County consumer and auto lending relationships, and operates a similar community-membership model.
• INOVA Federal Credit Union: Elkhart, Indiana-based community credit union with a north-Indiana branch network including Fort Wayne presence. Directly comparable consumer/member-owned credit union competing for the same regional member base and small-business relationships.
• Three Rivers Federal Credit Union: Fort Wayne-headquartered community credit union serving northeast Indiana. Closest geographic direct competitor to PSCU, with overlapping Allen County field of membership and similar consumer lending, checking, and digital banking offerings.

Regional players

• Centra Credit Union: Indiana-headquartered community credit union serving Columbus and other Indiana regions. Comparable member-owned cooperative model, similar consumer/SMB product suite, and analogous size/footprint, though operating in a different Indiana geography.
• Purdue Federal Credit Union: Indiana-headquartered community credit union with broader Indiana footprint including Fort Wayne-area presence. Comparable member-owned cooperative model and consumer/SMB product suite, though originally chartered around Purdue's employee/member base.
• Financial Center Federal Credit Union: Indianapolis-based Indiana credit union serving a broad Indiana membership. Similar community/consumer banking orientation with overlapping loan and deposit products; comparable mid-sized community credit union profile though operating primarily in central Indiana.

Broad incumbents

• Indiana Members Credit Union: One of Indiana's largest credit unions with broad statewide branch coverage including Fort Wayne. Larger established player operating in the same industry/space with overlapping capabilities (consumer lending, mortgages, checking, digital banking) as part of a wider portfolio.
• Teachers Credit Union (TCU): Indiana-headquartered credit union with statewide branch presence. Larger incumbent operating broadly in Indiana consumer banking with overlapping deposit, loan, and digital banking capabilities, though serving a different charter constituency.
• Elements Financial Credit Union: Indiana-based larger credit union headquartered in Indianapolis. Operates broadly in Indiana financial services with overlapping deposit, lending, and digital capabilities; serves as a broader-incumbent reference point for community-CU scaling trajectories.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCKbxxEXXW5dXHEYvR-m0kFg
• Facebookfacebook.com/mypscu
• LinkedInlinkedin.com/company/public-service-credit-union
• Instagraminstagram.com/mypscu
• TikToktiktok.com/@mypscu

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 Public Service Credit Union