People's Alliance Federal Credit Union

What People's Alliance Federal Credit Union does

People's Alliance Federal Credit Union (PAFCU) is a federally chartered, member-owned credit union founded in 1940 (originally as Pan American World Airways Credit Union) and headquartered at 125 Wireless Blvd, Hauppauge, NY. It serves approximately 36,000 members nationwide, primarily employees of more than 400 Select Employer Groups, family members (kinship accounts), and residents of select New York and Florida geographies, with alternative eligibility through the American Consumer Council and the New York Credit Union Foundation. The institution operates eight physical branches across New York and Florida and holds approximately $340 million in total assets, governed by a 7-member volunteer Board of Directors and led by President/CEO Carol A. Allen (20+ years).

The credit union delivers a full retail banking product set: savings (Prime Share, Money Market, Share Certificates, IRAs, Lucky Savers, Holiday/Vacation clubs), four checking tiers (BaZing with cell phone/identity protection, Freedom, VIP, Business), a Mastercard suite (Gold, Platinum, Teen, FastChek Debit), and a diversified loan book spanning new/used auto, mortgages, home equity, signature, credit builder, education, debt consolidation, boat/aircraft, and collectible car loans. Technology is delivered through a Fiserv-powered mobile app with Zelle, bill pay, and mobile check deposit; a CO-OP Financial Services ATM network providing 25,000+ surcharge-free ATMs; Vericheck loan payments; and an Investment & Retirement Center operated in partnership with LPL Financial. Insurance and auto-buying adjacencies are layered via Family Security Plan, TruStage, Liberty Mutual, GrooveCar, and Greenpath Debt Solutions.

The business model is a member-owned cooperative: revenue is generated primarily through net interest income on the loan and mortgage portfolio, supplemented by recurring checking account fees ($7-$10/month BaZing/Freedom/VIP), overdraft and wire fees, credit card fees, mortgage origination/modification fees, and referral-based non-interest income from insurance, wealth management, and auto-buying partners. Net earnings are returned to members through higher dividends, lower loan rates, and reduced fees rather than distributed to outside shareholders. Marketing is conducted via branch presence, an employer-group enrollment channel, website/mobile app, Facebook, email newsletters, and free financial seminars (Social Security/retirement with TruStage Annuities, defensive driving with Liberty Mutual). The credit union carries a BauerFinancial 5-Star rating and NMLS ID #780046.

Name

People's Alliance Federal Credit Union

Legal name

People's Alliance Federal Credit Union

Website

https://pafcu.org

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

51–100 employees

Short description

People's Alliance Federal Credit Union is a federally chartered, member-owned credit union serving ~36,000 members across 400+ employer groups via 8 branches in New York and Florida, offering deposits, Mastercard cards, consumer/mortgage loans, and wealth management through Fiserv, LPL Financial, and CO-OP partnerships.

Ownership category

akta.pro rank

Headquarters

HQ city

Hauppauge

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: PAFCU generates primary revenue from interest charged on loans including mortgages, auto loans, personal loans, credit cards, and home equity products. As a credit union, all net earnings are returned to members through better dividend rates and lower loan rates.
2. Checking Account Fees: Monthly maintenance fees for checking accounts (BaZing $7, Freedom $8, VIP $10), overdraft fees ($32), returned item fees, stop payment fees ($30), wire transfer fees.
3. ATM and Transaction Fees: ATM fees ($1.50), Bill Payer fees ($9.95 same day electronic, $14.95 overnight), ACH stop payment and returned item fees.
4. Credit Card Fees: Annual fees on Gold Mastercard ($20), arbitration ($35) and dispute fees, Mastercard gift cards ($3.95).
5. Lending Fees: Credit report fees ($6.50), mortgage modification ($400), subordination preparation ($300), late payment charges.
6. Other Service Fees: Money orders ($3.50 up to $1,000), research fees, subpoena fees ($75), wire transfers, official checks.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

People's Alliance Federal Credit Union (PAFCU) is a federally chartered, member-owned credit union providing retail banking products including savings accounts, checking accounts, Mastercard credit/debit cards, mortgages, auto loans, home equity loans, and personal loans. It also offers investment and retirement planning through a partnership with LPL Financial, insurance products through Family Security Plan, and digital banking through a Fiserv-powered mobile app, online banking, and a surcharge-free ATM network spanning over 25,000 locations.

Product overview

People's Alliance Federal Credit Union (PAFCU) is a federally chartered credit union offering a comprehensive suite of financial products and services to its members. The core offerings include multiple savings products (Prime Share Account, Money Market, Share Certificates, IRAs, Lucky Savers), four checking account types (BaZing Checking with cell phone protection and identity monitoring, Freedom Checking, VIP Checking with dividends, and Business Checking), and Mastercard credit/debit cards including Gold, Platinum, Teen, and FastChek Debit options. The loan portfolio encompasses auto loans, mortgages, home equity products, signature loans, credit builder loans, education loans, debt consolidation, boat/aircraft financing, and collectible car loans. Digital banking is delivered through mobile apps (powered by Fiserv), Home Banking/eServices, Bill Payer, eStatements, Text Message Banking, and Tel-Me Audio Response. Additional services include financial counseling, investment and retirement planning through a partnership with LPL Financial, insurance products via Family Security Plan, auto buying through GrooveCar, and scholarship programs. Members access accounts through 8 branch locations and a surcharge-free ATM network spanning 25,000+ credit union ATMs and 5,500+ 7-Eleven stores.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Members save approximately $8 billion annually industry-wide through better rates and reduced fees vs. banks (Credit Union National Association estimate)
• +1 more outcomes

Named customers8 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

Integration11 records

Feature4 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• The Family Security Plan®coreStrategic or Co-development PartnerOver 50-year partnership providing members with insurance products including whole life, term life, disability income, critical illness, accident, and hospital sickness insurance. Relationship Development Specialists conduct educational outreach calls from (631) 820-3621.
• LPL FinancialcoreStrategic or Co-development PartnerRegistered investment advisor and broker-dealer providing securities and advisory services through People's Alliance Investment and Retirement Center. Daniel Campanelli, CFS, CRPC, CFP serves members since 1998 with financial planning.
• CO-OP Financial ServicescoreTechnology or IntegrationATM network partner providing PAFCU members access to over 25,000 surcharge-free credit union ATMs nationwide and 5,500 ATMs in select 7-Eleven stores for convenient cash access.
• GrooveCarminorGTM or Marketing PartnerAuto buying resource center for members providing new vehicle research, used vehicles, dealer locator, and automotive content through pafcu.groovecar.com.
• TruStageminorStrategic or Co-development PartnerInsurance partner providing accidental death and dismemberment coverage and Annuities through TruStage Annuities for retirement seminars.
• Liberty Mutual/Comparion Insurance AgencyminorGTM or Marketing PartnerProvides in-person and online Defensive Driving courses for NY drivers. Members receive $35 discounted rate and may earn up to 10% insurance discount for three years and removal of up to four points from driving record.
• American Consumer Council (ACC)minorGTM or Marketing PartnerMembership eligibility pathway for individuals not in PAFCU's field of membership. ACC supports consumer education and financial literacy.
• New York Credit Union Foundation (NYCUF)minorGTM or Marketing PartnerMembership eligibility pathway supporting consumer education and financial literacy. PAFCU covers membership cost for applicants.
• Enterprise Rent-A-CarminorOthersCar rental partner for members, linked through PAFCU Resources page.
• Greenpath Debt SolutionsminorStrategic or Co-development PartnerFinancial counseling partner providing debt management and financial wellness services to members.
• FiservcoreTechnology or IntegrationTechnology provider powering PAFCU's Mobile Banking App with features including real-time balances, mobile check deposit, transfers, and card management.
• Hauppauge Industrial AssociationminorGTM or Marketing PartnerLocal business association partnership with HIA-LI for Hauppauge-based business community engagement.

Scale indicators8 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• First Tech Federal Credit Union: Federal credit union serving employees of technology and partner employers with a comparable SEG-led acquisition strategy, multi-state branch network, and full-service retail and lending product set.
• Alliant Credit Union: Federally chartered, online-led credit union with broad SEG-based membership eligibility; useful comparable for a credit union increasingly competing on digital experience rather than branch density.
• Bethpage Federal Credit Union: Long Island-based federal credit union with multi-branch presence and SEG-based field of membership; comparable in geography, charter type, and employer-group-led growth model to PAFCU but with substantially larger scale (~$10B+ assets).
• Municipal Credit Union (MCU): NYC-headquartered federal credit union serving municipal and corporate employer groups with a similar New York branch footprint; offers substantially the same suite (deposits, lending, cards, digital) to an analogous member base.
• Kinecta Federal Credit Union: Federal credit union originally serving an aerospace employer group (Hughes Aircraft) now extended to broad SEG membership and the general public; serves as a benchmark for how employer-rooted federal credit unions scale geographically.

Emerging players

• Connexus Credit Union: Federally chartered credit union with broad SEG-eligible membership and strong digital-banking focus; a useful benchmark for how mid-sized credit unions are competing with mobile-first banks.
• SchoolsFirst Federal Credit Union: Federal credit union serving a defined employee community (California school employees) with SEG-style membership, digital and branch delivery, and member-owned cooperative structure mirroring PAFCU's model.

Regional players

• Suncoast Credit Union: Florida-based credit union with comparable membership scale, employer-group field of membership, and full-service product mix — directly relevant as PAFCU's Miami branch peer in its second state.
• ESL Federal Credit Union: Rochester-based federal credit union with broad member eligibility, multi-branch New York footprint, and full-service banking (lending, deposits, wealth, insurance) comparable to PAFCU's product mix.
• Hudson Valley Federal Credit Union: Federal credit union operating throughout New York's Hudson Valley and surrounding metro areas; similar charter, products, and SEG-driven field of membership, serving an overlapping but distinct geography.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/PeoplesAllianceFCU
• LinkedInlinkedin.com/company/people-s-alliance-federal-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

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 People's Alliance Federal Credit Union