SMW 104 Federal Credit Union

What SMW 104 Federal Credit Union does

SMW 104 Federal Credit Union (legally Sheet Metal Workers Local 104 Federal Credit Union) is a not-for-profit, federally chartered financial cooperative founded in 1962 and headquartered at 3156 Constitution Drive, Livermore, California. Its field of membership is legally restricted to members of Sheet Metal Workers Union Local 104, apprentices, their immediate family and household members, and employees of union signatory employers, spanning 49 Northern California counties from Ventura County to the Oregon border. All deposits are federally insured up to $250,000 by the National Credit Union Administration (NCUA), and the institution holds a Community Development Financial Institution (CDFI) certification from the U.S. Department of the Treasury, reflecting its mission to serve economically disadvantaged members within underserved communities. The credit union operates with 1-10 employees and is governed by an elected volunteer Board of Directors and Supervisory Committee.

The institution operates as a full-service consumer bank offering three product pillars. Deposits include checking, savings, money market, high-yield money market, share certificates (3-60 month terms), a 12-month liquid CD at 3.00% APY, IRAs (Traditional and Roth), and youth/teen accounts. Lending spans auto loans (starting at 5.74% APR with terms up to 84 months), home mortgages (FHA, VA, jumbo, first-time buyer programs), HELOCs and home equity fixed-rate loans, personal loans, and Visa credit cards (Classic at 10.5% APR; Platinum at 7.90% APR fixed for life). Digital services include 24/7 online banking, a mobile app rated 4.9/5 on Apple App Store with mobile deposit, bill pay, and CO-OP ATM/branch locators, plus 24/7 telephone banking. Supplementary offerings include TransUnion-powered credit monitoring, GreenPath financial wellness counseling, and embedded insurance/protection products (TruStage home insurance, GAP, MBP, debt protection) underwritten through Liberty Mutual. Digital wallet support covers Apple Pay, Google Pay, and Samsung Pay, and physical access is extended through the CO-OP shared branch and ATM networks (30,000+ surcharge-free ATMs nationwide).

The business model generates revenue primarily through net interest income on the loan portfolio, with secondary income from account fees (with most checking accounts fee-free), early withdrawal penalties on share certificates, and referral commissions on insurance and credit protection products. Pricing is publicly disclosed across all major products and tiers. Distribution is direct-to-member through the single Livermore branch, the company website (smw104fcu.org), the mobile app, 24/7 telephone banking, and the CO-OP shared branch/ATM infrastructure; member acquisition is driven primarily through union affiliation networks and signatory employer rosters rather than paid marketing. The technology stack is described as a standard credit union core platform with no disclosed proprietary systems, APIs, or AI/ML capabilities.

Name

SMW 104 Federal Credit Union

Legal name

Sheet Metal Workers Local 104 Federal Credit Union

Website

https://smw104fcu.org

Company type

Private

Founded year

1962

Operating status

Operating

Headcount range

1–10 employees

Short description

SMW 104 Federal Credit Union is a not-for-profit, federally chartered financial cooperative founded in 1962 that exclusively serves Sheet Metal Workers Union Local 104 members, apprentices, their families, and signatory employer employees across 49 Northern California counties, offering full-service consumer banking from a single Livermore branch.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130), Credit Card Issuing (522210)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

Faith-Based & Affinity Credit Unions (FSABAEAH)

Keywords

• Consumer banking services
• Credit union lending
• Share certificates
• Mortgage financing
• Digital banking

Headquarters

HQ city

San Leandro

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

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including auto loans, home loans, credit cards, and personal loans. Interest rates vary by product type and term length.
2. Fee Income: Various banking fees including potential overdraft fees, early withdrawal penalties on certificates, and other standard credit union service charges. Most checking accounts have no monthly fees.
3. Insurance Products: Referral/embedded insurance products including TruStage home insurance, Mechanical Breakdown Protection (MBP), Guaranteed Asset Protection (GAP), and Debt Protection offered through partner Liberty Mutual.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

SMW 104 Federal Credit Union is a not-for-profit, member-owned financial cooperative that provides consumer banking and financial services exclusively to Sheet Metal Workers Local Union 104 members, apprentices, their families, and employees of union signatory employers across 49 Northern California counties. Its core offerings span deposit accounts, consumer loans, credit cards, mortgages, digital banking channels, and embedded insurance/protection products.

Product overview

SMW 104 Federal Credit Union is a not-for-profit financial cooperative offering a comprehensive suite of consumer banking products and services designed specifically for sheet metal workers and their families. The product portfolio spans three core areas: deposit products (checking, savings, money market, share certificates, IRAs, and liquid CDs), lending products (auto loans, home mortgages, HELOCs, home equity loans, personal loans, and Visa credit cards), and digital banking services (online banking, mobile app, and mobile deposit). Supplementary offerings include credit monitoring, financial wellness counseling through GreenPath, and insurance products (TruStage home insurance, GAP, MBP, and debt protection). All products are NCUA insured and the credit union leverages digital wallet integrations with Apple Pay, Google Pay, and Samsung Pay alongside the CO-OP ATM and Shared Branch networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Checking Accounts

Quantifiable outcome

• Visa Platinum rates as low as 7.90% APR fixed for life
• +2 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Partnerships

Four partnerships are on record, tiered core and minor.

• CO-OP Credit Union NetworkcoreTechnology or IntegrationPartnership providing access to 30,000+ surcharge-free ATMs and hundreds of shared branch locations. Enables members to bank nationwide without surcharge fees. ATM locator available via text message (91989) or phone (888-748-3266).
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerNon-profit partnership providing free financial counseling services, debt management plans, housing services, credit report review, and student loan counseling. GreenPath has been assisting individuals for more than 50 years.
• TruStage (Liberty Mutual)minorGTM or Marketing PartnerInsurance partnership providing TruStage home insurance underwritten by Liberty Mutual. Offers coverage that fits member budgets with confidence in policy reliability.
• NCUAcoreOthersNational Credit Union Administration provides federal insurance on all deposits up to $250,000. All share accounts are federally insured through NCUA.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• BECU (Boeing Employees Credit Union): One of the largest U.S. occupational credit unions, originally chartered for Boeing employees; comparable employer-affiliated field of membership and full-service consumer banking model.
• Self-Help Federal Credit Union: CDFI-certified, member-focused credit union serving low-income and underserved communities; directly comparable mission-driven, CDFI charter with consumer banking and community development focus.
• SchoolsFirst Federal Credit Union: California-based occupational credit union serving a defined employee membership (school employees); directly comparable field-of-membership model with full-service deposits, lending, and digital banking.
• First Tech Federal Credit Union: Occupational credit union serving technology-industry employees and their families; directly comparable employer/occupational charter with comprehensive consumer banking and digital-first experience.
• UNIFY Financial Credit Union: Large U.S. credit union originally founded for union members with a similar occupational-union heritage; comparable business model of serving organized-labor membership with full-service consumer banking.

Regional players

• Patelco Credit Union: Long-standing Northern California credit union offering consumer deposits, lending, and digital banking; overlapping geographic market and comparable product breadth to SMW 104.
• Star One Credit Union: Silicon Valley-based credit union with overlapping Northern California geography and a broad consumer banking menu; comparable retail deposit and auto-loan products to SMW 104.
• Travis Credit Union: Northern California-headquartered community credit union operating in many of the same 49 counties as SMW 104; directly comparable regional footprint and full-service consumer product set.

Broad incumbents

• Alliant Credit Union: Large digital credit union with a broad affinity-based field of membership and high-yield deposits; comparable mission-driven, digitally native positioning that competes for SMW 104's members.
• Digital Federal Credit Union (DCU): Large, digitally led credit union with a broad membership charter and competitive deposit/loan rates; comparable digital-first strategy that pressures SMW 104 on member experience and reach.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 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 SMW 104 Federal Credit Union