Pipefitters Steamfitters Credit Union

What Pipefitters Steamfitters Credit Union does

Pipefitters Steamfitters Credit Union is a not-for-profit, member-owned cooperative chartered in Minnesota on March 20, 1957, to serve members of the St. Paul U.A. Local #455 Pipefitters Steamfitters union and their families. The credit union operates two branches in the Twin Cities metro area — a headquarters in Woodbury and a branch in St. Paul located in the Local 455 Building — and supplements its physical footprint with the CO-OP Shared Branch network (5,400+ locations), the Allpoint ATM network (~30,000 surcharge-free ATMs), and a digital banking platform branded Pipeline Banking with online, mobile, and 24/7 telephone banking (Audio Response Teller) channels. Mobile features include remote deposit capture, bill pay, and credit-score access, with Apple Pay, Samsung Pay, and Google Wallet support on EMV chip-enabled Mastercard debit cards.

The product portfolio covers standard consumer banking: share savings (0.15% APY), special savings, checking, certificates (up to 3.042% APY at 60 months), and Traditional and Roth IRAs on the deposit side, and consumer vehicle loans (4.99%-7.25% APR), RV/boat/motorcycle loans, personal unsecured loans, home equity loans (5.99%-6.75% APR), student loans (added 2022), and a Visa credit card (as low as 8.75% APR) on the lending side. First mortgage services are delivered through a referral partnership with MN Mortgage, and financial counseling is provided via LSS Financial Services (up to six free sessions per year per member or family member). Technology is built on standard third-party vendors — Allied Payment for loan payments, Portal Pay for external payments, and shared-branching infrastructure via CO-OP — with no proprietary AI or machine-learning capabilities disclosed.

Economically, the credit union operates as a not-for-profit cooperative, distributing profits back to members through lower fees, lower loan rates, and higher dividend rates rather than to external shareholders. Revenue is generated from net interest margin on the loan portfolio (vehicle, RV, unsecured, real estate, Visa), dividend expense offsets on share deposits, and ancillary fee income. The institution is federally insured by the NCUA (routing #296076165), registered with NMLS (#811823), and governed by a member-elected Board of Directors led by Chairman Adam Hoen, with separate credit and supervisory committees. No revenue figures, external ownership, M&A activity, or funding rounds are disclosed.

Name

Pipefitters Steamfitters Credit Union

Legal name

Pipefitters Steamfitters Credit Union

Website

https://pipefitterscu.org

Company type

Private

Founded year

1957

Operating status

Operating

Headcount range

1–10 employees

Short description

Pipefitters Steamfitters Credit Union is a member-owned, not-for-profit credit union serving U.A. Local #455 Pipefitters Steamfitters union members and their families in Minnesota with deposit, consumer lending, and digital banking services through two branches.

Ownership category

akta.pro rank

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from consumer loans including vehicle loans, recreational vehicle loans, personal unsecured loans, real estate loans, home equity loans, and Visa credit cards
2. Share Savings Deposits: Member deposits in share savings, special savings, checking accounts, and certificates generating dividend payouts
3. IRA Accounts: Traditional and Roth IRA savings and certificate accounts
4. Fee Income: Various credit union fees including loan-related fees, ATM fees, and other service charges

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

Pipefitters Steamfitters Credit Union is a member-owned, not-for-profit cooperative that provides consumer banking and lending products to members of U.A. Local #455 Pipefitters Steamfitters Union and their families. It offers deposit accounts (share savings, special savings, checking, certificates, IRAs), consumer loans (new/used vehicle, RV, boat, motorcycle, personal unsecured, student), a Visa credit card, real estate/home equity loans, a MasterCard EMV debit card, and the Pipeline Banking online and mobile platform, supported by CO-OP Shared Branch and Allpoint ATM access.

Product overview

Pipefitters Steamfitters Credit Union operates as a not-for-profit financial cooperative offering a comprehensive suite of banking products and services primarily focused on consumer financial services. The core product is Pipeline Banking, their digital banking platform that serves as the umbrella for online and mobile banking functionality. The product portfolio centers on deposit products (Share Savings, Special Savings, Checking, Certificates, IRAs) and lending products (Consumer Loans including vehicle and recreational loans, Student Loans, VISA Credit Card, Real Estate/Home Equity Loans). Additional services include MasterCard Debit Card with extensive ATM network access (CO-OP and Allpoint), Mobile Banking app, Bill Pay, Remote Deposit Capture, Audio Response Teller telephone banking, and CO-OP Shared Branch network access. The credit union returns profits to members through lower fees, lower loan rates, and higher dividend rates rather than profit maximization.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Savings Basic membership share savings account for members of Pipefitters Steamfitters Credit Union, with 0.15% APR/APY and a $5.00 minimum opening balance. Serves as the foundational savings product and membership share account.
• Special Savings Higher-yield savings account offering 0.25% APR/APY with a $25.00 minimum balance, available to credit union members seeking greater returns than the basic Share Savings account.
• Share Draft Checking Share draft (checking) account for everyday transactions with 0.05% APR/APY and no minimum balance requirement, providing members with primary transactional banking functionality.
• Certificates of Deposit Term deposit accounts with terms from 6 to 60 months, APYs ranging from 2.529% to 3.042%, and minimum deposits between $500 and $10,000, offering members higher dividend rates for locking in funds over a fixed term.
• Individual Retirement Accounts (IRAs) Traditional and Roth IRA savings and certificate accounts with terms of 12-24 months, APYs of 2.631%-3.042%, and a $500 minimum balance, supporting members' retirement savings goals.
• Consumer Loans (Vehicle, RV, Boat, Motorcycle, Personal Unsecured, Share-Secured) Installment consumer lending covering new and used vehicle loans (4.99%-7.25% APR over 36-84 months), recreational vehicle, boat, and motorcycle loans (6.75%-7.99% APR for new; up to 9.75% APR for used), personal unsecured signature loans (6.75%-7.75% APR over 24-48 months), and share-secured loans for individual credit union members.
• Student Loans Education financing product for college expenses and refinancing of existing student loans, offered to credit union members and their families subject to credit approval, launched in 2022.
• Visa Credit Card Credit card product with rates as low as 8.75% APR and no annual fee, offering enhanced fraud security and travel features for credit union members.
• Real Estate Loans (Home Equity and First Mortgage) Home equity loans up to 80% LTV with rates from 5.99% to 6.75% APR over 120-180 month terms, plus first mortgage refinancing and home sale services delivered through the MN Mortgage partnership for credit union members.
• MasterCard Debit Card EMV chip-enabled MasterCard debit card with fraud-fighting capabilities, contactless payments, mobile wallet integration (Apple Pay, Samsung Pay, Google Wallet), CardNav app controls, and access to nearly 30,000 surcharge-free ATMs through the CO-OP and Allpoint networks.
• Pipeline Banking (Online and Mobile Banking) Online and mobile banking platform branded Pipeline Banking, available via web at pipefitterscu.org and via iOS/Android apps, allowing members to view statements, pay bills, transfer funds, access credit scores, deposit checks remotely, and manage accounts anytime.
• Audio Response Teller (Phone Banking) Touch-tone telephone banking service (Audio Response Teller) reachable at (651) 209-1116, providing 24/7 access to account information, loan details, and basic transactions for credit union members.
• CO-OP Shared Branch Access Network-based banking access for credit union members through over 5,400 CO-OP Shared Branch locations and hundreds of self-service locations across all 50 states, where members can conduct deposits, transfers, account inquiries, and receive person-to-person assistance with their credit union account number and government ID.
• Financial Counseling (via LSS Financial Services Partnership) Free financial counseling service offering members and their immediate family members up to six sessions per year, delivered through the LSS Financial Services partnership to provide personal financial guidance beyond standard banking products.

Quantifiable outcome

• New vehicle loans as low as 4.99% APR
• +3 more outcomes

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core and minor.

• CO-OP Shared BranchcoreChannel Partner/ Reseller/ DistributorPipefitters Steamfitters Credit Union participates in the CO-OP Shared Branch network, providing members access to over 5,400 shared branch locations and hundreds of self-service locations covering all 50 states. Members can conduct transactions just like at their home branch with just their credit union name, account number, and government ID.
• LSS Financial ServicescoreStrategic or Co-development PartnerMembers and their family members are eligible for up to six free financial counseling sessions per year through LSS Financial Services partnership. This provides additional member value beyond standard banking products.
• MN MortgageminorChannel Partner/ Reseller/ DistributorFirst mortgage services for refinancing and home sales are provided through an external partnership with MN Mortgage, allowing members to access mortgage products through the credit union.
• MastercardcoreTechnology or IntegrationCredit union issues Mastercard-branded debit cards with EMV chip technology, contactless payment capability (Mastercard contactless), and integration with Apple Pay, Samsung Pay, and Google Wallet.
• Allpoint ATM NetworkcoreChannel Partner/ Reseller/ DistributorDebit card holders have access to nearly 30,000 surcharge-free ATMs through the Allpoint network, with deposits available at nearly 9,000 CO-OP ATM locations.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Service Credit Union: Much larger credit union with a broad membership base, full retail banking and lending products, and a deep digital channel set; demonstrates the operating scale Pipefitters Steamfitters CU cannot match and represents the upper bound of its peer cohort.
• Self-Help Credit Union: Community-development credit union serving defined populations with deposits, lending, and financial counseling; comparable in its mission-driven, member-cooperative model and its inclusion of financial counseling as a member benefit.
• Bellco Credit Union: Established community credit union offering a comprehensive consumer banking, lending, and digital product suite to a broad membership — a useful benchmark for what scaled community credit union operations look like.

Direct peers

• Connexus Credit Union: Upper Midwestern credit union with multiple branches and a defined employer/group membership model, offering deposits, consumer lending, mortgages, and digital banking — closely comparable in product mix and member-cooperative structure.
• TopLine Federal Credit Union: Twin Cities-based community credit union of comparable scale serving a defined membership base; offers a similar mix of consumer deposits, vehicle and home equity loans, and digital banking — making it the closest geographic and operational peer.
• TwinStar Credit Union: Community-charter credit union offering consumer banking, vehicle and mortgage lending, and digital channels; comparable in scope and in operating as a member-owned cooperative serving a defined community.

Regional players

• Great Lakes Credit Union: Regional community credit union operating across the upper Midwest with a defined membership field and consumer banking/lending focus — a comparable operating model in a neighboring geography.

Emerging players

• Alliant Credit Union: Digital-first national credit union competing on member-friendly rates and a streamlined online/mobile experience; the leading example of the kind of UX benchmark that could attract younger union members away from small brick-and-mortar cooperatives.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/pipefitterssteamfitterscu
• LinkedInlinkedin.com/company/pipefitters-steamfitters-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 Pipefitters Steamfitters Credit Union