Heritage Credit Union

What Heritage Credit Union does

Heritage Credit Union is a not-for-profit, member-owned financial cooperative that, per its firmographic record, was founded in 1934 and is headquartered in Madison, Wisconsin, operating as a private institution with 101–250 employees. The input data describes a broader operational footprint than the firmographic baseline: a 430,000+-member base served across all 50 states through shared branching partnerships, physical branches, telephone banking, and a digital banking platform with native iOS and Android applications. The product portfolio spans the full retail banking spectrum — deposit products (Xtraordinary Checking with up to 4.50% APY, savings, money market, 17-month special certificates up to 4.30% APY, IRAs, HSAs), consumer and business credit cards, vehicle financing (new/used auto from 4.44% APR, auto refinance, recreational vehicles from 6.59% APR), real estate lending (mortgages, refinance, VA home loans, home equity loans, HELOC), and personal/student loans. Ancillary services include insurance, investment advisory, financial wellness, wire transfers, and interactive calculators. Note: detailed product and operational data in the input references the Connexus Credit Union brand and 1935 founding date, which appears to be a data-aggregation inconsistency with the Heritage Credit Union firmographic record.

The credit union distributes through a hybrid digital-first model: a self-serve website, mobile applications, a nationwide shared branching network providing thousands of fee-free ATMs, and telephone banking. GTM is direct-to-consumer, with active promotional acquisition — $250 checking bonuses, $600 mortgage closing-cost credits, and auto rate discounts — supplemented by content marketing via a blog and a structured philanthropy program (the Connexus Cares giveback initiative documenting $12.5M+ in donations, 18,800+ volunteer hours, and 20M+ pounds of food donated to 300+ nonprofits). Revenue mechanics follow the standard depository-institution model: net interest income from the loan portfolio, deposit-account fees and overdraft charges, and credit card interchange and interest. Membership eligibility is open (anyone can join), positioning the institution as a fee-free alternative to large consumer banks, with surplus returned to members via better rates rather than distributed to shareholders.

Federally insured by the NCUA, the institution operates under a cooperative ownership structure where members are simultaneous depositors and partial owners, structurally differentiating it from for-profit banks. The investment thesis-relevant evidence supports a multi-state retail credit union with diversified product breadth, a capital-efficient shared-branching distribution model, and active member-acquisition spending — but the input lacks longitudinal growth metrics, headcount trends, financial disclosures, or AI capability signals needed to substantiate premium-multiple characteristics.

Name

Heritage Credit Union

Legal name

Connexus Credit Union

Website

https://heritagecu.org

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

101–250 employees

Short description

Heritage Credit Union is a not-for-profit, member-owned cooperative founded in 1934, offering consumer and small-business deposit products, vehicle and real estate loans, and digital banking services to a nationwide member base through shared branching and mobile channels.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Unions (522130), Credit Card Issuing (522210), Consumer Lending (522291)

akta.pro primary industry

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

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), General Purpose Credit Cards (FSAKABAA)

Keywords

• Retail banking services
• Consumer lending products
• Credit union deposits
• Mortgage and auto loans
• Digital banking services

Headquarters

HQ city

Madison

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, Others

Revenue model

1. Deposit Account Fees and Charges: Revenue generated from deposit account maintenance, overdraft fees, and other account-related charges
2. Loan Interest Income: Interest income from various loan products including auto loans, mortgages, personal loans, recreational vehicle loans, and home equity products
3. Credit Card Fees: Income from credit card transactions, annual fees, and interest charges on credit card balances

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Heritage Credit Union is a not-for-profit, member-owned credit union that delivers retail banking products and consumer lending to members across all 50 states. Core offerings comprise deposit accounts (checking, share certificates, savings, money market, IRA, HSA), credit cards for individuals and businesses, and a lending portfolio spanning auto, auto refinance, recreational vehicle, mortgage, mortgage refinance, VA home, home equity, HELOC, personal loans, personal lines of credit, and student loans, supported by digital banking, shared branching, insurance, investment, and financial wellness services.

Product overview

Heritage Credit Union operates as a not-for-profit, member-owned credit union offering a comprehensive suite of financial products and services. The portfolio consists of deposit products including checking (Xtraordinary Checking with up to 4.50% APY), savings accounts, share certificates (17-month Special Certificate at up to 4.30% APY), money market accounts, IRAs, and HSAs. Lending offerings span vehicle financing (new/used auto loans, auto refinance, recreational vehicle loans), real estate (mortgages, mortgage refinance, VA home loans, home equity loans, HELOCs), and personal lending (personal loans, personal lines of credit, student loans). Credit card products are available for both individuals and businesses. Service capabilities include Digital Banking (mobile app for iOS and Android), shared branching network, insurance services, investment services, financial wellness resources, telephone banking, wire transfers, and interactive calculators. The institution also operates Connexus Cares, a philanthropic program integrating volunteer time off and charitable donations. Founded in 1935, the credit union serves over 430,000 members across all 50 states through nationwide branch availability and digital banking channels.

Differentiator

Problem solved

Functional benefit

Brands

• Connexus Cares: The company's philanthropic giveback program supporting communities through donations and volunteer work.

Products and services

• Xtraordinary Checking Account High-yield checking account for credit union members offering up to 4.50% APY and a promotional bonus of up to $250 for new accounts opened with promo code XTRABONUS.
• 17-Month Special Share Certificate Term-share certificate offering up to 4.30% APY on a 17-month term for member deposit accumulation.
• Savings Accounts Standard savings account products with competitive dividend rates for member deposit accumulation.
• Money Market Account Investment-tier deposit account offering competitive yields on larger balances for members seeking higher-return savings.
• IRA (Individual Retirement Account) Individual Retirement Account products for tax-advantaged retirement savings by members.
• HSA (Health Savings Account) Health Savings Account for individuals with high-deductible health plans to save and pay for qualified medical expenses tax-free.
• Credit Cards For Individuals Personal credit card products for individual members with various rewards and interest-rate structures.
• Credit Cards For Businesses Credit card products designed for business spending and expense management by business members.
• New/Used Auto Loans Financing for new and pre-owned vehicles with promotional rates as low as 4.44% APR, including a rate discount offer for new or refinanced auto loans.
• Auto Refinance Loan Refinancing product to lower existing auto loan rates, with a promotional rate-lock offering a special rate discount.
• Recreational Vehicle Loans Financing for recreational vehicles including RVs, boats, and related assets, with rates as low as 6.59% APR.
• Mortgage Loans Home purchase mortgage loans with a promotional offer of up to $600 off closing costs using promo code SAVEONCLOSING.
• Mortgage Refinance Refinancing solutions for existing mortgages to potentially lower monthly payments or change loan terms.
• VA Home Loans Mortgage products for eligible veterans and their families, backed by the U.S. Department of Veterans Affairs.
• Home Equity Loan Home equity loan products allowing members to borrow against accumulated equity in their property.
• Home Equity Line of Credit (HELOC) Revolving home equity line of credit offering flexible borrowing with a low intro rate, allowing members to draw funds as needed.
• Personal Loans Unsecured personal loans for various member needs including debt consolidation, major purchases, or unexpected expenses.
• Personal Lines of Credit Revolving personal credit lines providing flexible access to funds up to a set limit for ongoing financial needs.
• Student Loans Education financing products for undergraduate and graduate students to cover tuition and related expenses.
• Digital Banking Service Free industry-leading digital banking service providing online and mobile access (iOS and Android) for account management, digital loan payments, and security tools such as debit card PIN management.
• Shared Branching Service Member access to a nationwide network of shared branches and thousands of fee-free ATMs for in-person banking transactions.
• Insurance Services Insurance products and services for members covering auto, home, life, and other personal insurance needs.
• Investment Services Professional investment advisory services helping members plan for retirement and other long-term financial goals.
• Telephone Banking 24/7 phone-based banking service enabling members to manage accounts and conduct transactions via telephone.
• Wire Transfer Service Domestic and international wire transfer services enabling members to move funds between accounts at different institutions.

Quantifiable outcome

• Members can earn up to $250 bonus on new checking accounts
• +3 more outcomes

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• CO-OP Shared Branching NetworkcoreChannel Partner/ Reseller/ DistributorPartnership with CO-OP Financial Services for shared branching network access, providing members with thousands of fee-free ATMs and shared branch locations across the nation.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• SoFi (Social Finance): Public digital-first financial institution offering high-yield checking/savings, loans, credit cards, and investment services. Not a credit union, but competes directly for the same digitally-native, nationwide member/customer segment with higher-rate deposits and modern UX.

Direct peers

• Golden 1 Credit Union: California-based, large not-for-profit credit union serving members across many states with deposits, loans, credit cards, and investment services. Comparable full-service cooperative model with multi-state member eligibility.
• Connexus Credit Union: Not-for-profit, member-owned credit union founded 1935 in Wausau, WI with 430,000+ members across all 50 states. Operates the same digital-first, nationwide-acceptance model with a comparable full product suite (deposits, auto/mortgage/personal loans, business cards, insurance, investment). The provided company data appears to substantially overlap with Connexus's public profile.
• Bellco Credit Union: Colorado-based not-for-profit credit union offering checking, savings, loans, mortgages, and investment services. Comparable full-service community credit union model with similar product breadth and member-owned cooperative structure.
• Digital Federal Credit Union (DCU): Digital-first credit union offering nationwide membership with a comprehensive product suite including high-yield deposits, lending, and digital banking. Strong direct competitor in the online, nationwide-acceptance credit union segment.
• Alliant Credit Union: Large digital-first credit union serving members nationwide with a similar full product suite (checking, savings, credit cards, auto, mortgage, investment). Comparable member base scale and nationwide digital acquisition model — direct competitor for online-joining, high-yield deposit, and digital banking customers.
• Boeing Employees Credit Union (BECU): Washington-state-based member-owned credit union offering the same comprehensive suite (checking, savings, loans, mortgages, credit cards, investment). Comparable community-cooperative model with multi-state membership eligibility and similar product breadth.
• America First Credit Union: Large member-owned credit union offering the same core suite of products (checking, savings, auto, mortgage, credit cards, investment) with a focus on high-yield deposits and competitive lending rates — comparable positioning and scale.

Broad incumbents

• Navy Federal Credit Union: Largest U.S. credit union by assets, serving military members and families with a comprehensive product suite (deposits, loans, credit cards, investment). Operates the same cooperative model at vastly larger scale, providing a benchmark for what scaled credit-union membership economics can look like.
• Ally Bank: Large digital bank offering high-yield savings, checking, CDs, auto loans, mortgages, and investment products. Direct competitor for the online, high-yield deposit and digital lending customer — operates at much larger scale and is publicly funded.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/connexuscu
• LinkedInlinkedin.com/company/connexus-credit-union
• Xx.com/heritagecu

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 Heritage Credit Union