Consumers Federal Credit Union

What Consumers Federal Credit Union does

Consumers Federal Credit Union is a federally chartered, member-owned financial cooperative serving consumers and small businesses primarily in the New York metropolitan area, with origins in the Warbasse Consumers Cooperative Society dating to 1965. The credit union operates two owned branches — in Coney Island (Brooklyn) and Massapequa, New York — and extends its service footprint through participation in shared branching networks, including access points in Long Island City and Manhattan. Its member base is anchored in the legacy of the cooperative society, supplemented by community members across Brooklyn and Long Island.

The credit union's core offerings span consumer lending — vehicle loans at 5.53% APR, mortgages at 5.70% APR, and unsecured personal loans up to $50,000 at 9.99% APR — alongside deposit products including checking accounts, savings accounts, and certificates of deposit with advertised rates up to 3.85% APY. Business accounts are also offered, representing a modest vertical extension into small business banking. Technology infrastructure centers on the It's Me 247 online banking platform (provided through the Xtend CUSO), iOS and Android mobile applications, CU*Talk telephone banking, and ShareFile for secure file transfer. No API, SDK, or proprietary technology layer is disclosed; the institution relies on standard cooperative-sector vendor relationships for digital capabilities.

Revenue is generated primarily through net interest margin on the lending book and deposit gathering, supplemented by fee income typical of community credit unions (membership fees, loan origination, ATM/debit interchange). Member acquisition is relationship-driven and geographic, with no evidence of paid acquisition channels. Operational partnerships with TruStage (insurance), CO-OP Financial Services (shared branching and payments), and Xtend (core processing and digital banking) allow Consumers FCU to extend service breadth without proportionate cost burden. Leadership is stable under long-tenured CEO Stephen Jacoby (since 1992), with recent operational reinforcement through the October 2025 appointment of Steven Kawa as COO.

Name

Consumers Federal Credit Union

Legal name

Consumers Federal Credit Union

Website

https://consumersfcu.org

Company type

Private

Founded year

1965

Operating status

Operating

Headcount range

11–50 employees

Short description

Consumers Federal Credit Union is a federally chartered, member-owned cooperative credit union founded in 1965, serving consumers and small businesses in the New York metro area via branches in Brooklyn and Massapequa and shared-branch access points.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Consumer Lending (522291)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Credit union services
• Consumer lending
• Residential mortgages
• Share savings accounts
• Digital member banking

Headquarters

HQ city

Brooklyn

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: The credit union generates revenue primarily through interest collected on various loan products including vehicle loans, mortgages, unsecured loans, and business loans. Interest rates are displayed prominently on the website (e.g., Vehicle Loans at 5.53% APR, Mortgages starting at 5.70% APR, Unsecured Loans up to $50,000 at 9.99% APR).
2. Deposit Account Fees and Charges: Revenue generated from various account-related fees, including potential charges for official check withdrawals or money orders at shared branches. Fee schedule is available on the website.
3. Certificate of Deposit Interest: The credit union offers CDs with competitive rates (up to 3.85% APY as advertised), generating revenue through the spread between borrowing and lending rates.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

Consumers Federal Credit Union is a federally chartered, member-owned cooperative credit union that accepts deposits and extends credit to its members, offering share-draft checking, share savings (including IRAs and club accounts), certificates of deposit, vehicle loans, residential mortgages, unsecured personal loans, Mitchell Lama/home equity loans, and business loans. Members access these services through owned branches, the Co-Op Shared Branching Network, online banking, mobile applications, and a 24/7 telephone banking channel.

Product overview

Consumers Federal Credit Union operates as a single credit union offering a comprehensive suite of financial products organized around three pillars: deposit products (Checking, Savings, Business Accounts, and Certificates of Deposit with rates up to 3.85% APY), lending products (Vehicle Loans from 5.53% APR, Mortgages from 5.70% APR, Unsecured Loans up to $50,000 at 9.99% APR, and Business Loans), and digital banking channels (It's Me 247 Online Banking, Mobile App for iOS/Android, and CU*Talk Telephone Banking). The credit union extends member access through the Co-Op Shared Branching Network (5,000+ branches and 30,000+ ATMs) and offers complementary products including TruStage insurance and a Cooperative Society membership benefit. The product portfolio is unified under the Consumers FCU brand with no modular platform architecture.

Differentiator

Problem solved

Functional benefit

Products and services

• Vehicle Loans Auto financing for new and used vehicles with rates starting at 5.53% APR, available to credit union members.
• Mortgages Residential mortgage financing with rates starting at 5.70% APR, including fixed-rate, adjustable-rate, Mitchell Lama, and home equity loan options, offered to credit union members.
• Unsecured Personal Loans Unsecured personal loans up to $50,000 with rates starting at 9.99% APR, available to credit union members who need funds without collateral.
• Certificate of Deposit Savings certificate offering yields up to 3.85% APY, including a large-deposit CD with a Match Rate Program that matches competitor rates above a defined balance threshold.
• Checking Accounts Share draft checking accounts (suffix 101-102) providing credit union members with everyday transaction banking services and check writing access.
• Savings Accounts Share savings accounts (suffix 000-000), club accounts (suffix 080-080), traditional IRA shares (suffix 030-031), and Roth IRA shares (suffix 035-035), opened with a $50 minimum initial deposit.
• Business Accounts Business checking and savings accounts tailored for business members, including business loan products at advertised business loan rates.
• It's Me 247 Online Banking Web-based online banking platform providing 24/7 account access, balance inquiries, transaction history, fund transfers, bill payment, loan applications, and security features including custom username login for credit union members.
• Mobile Banking App Native mobile banking application available on iOS via the Apple App Store and Android via Google Play, enabling credit union members to manage accounts from their smartphones.
• CU*Talk Telephone Banking Automated 24/7 telephone banking system at (616) 285-5720 / 1-800-860-5704 providing balance inquiries, transaction verification, fund transfers, loan payments, and rate access via touch-tone phone.
• Shared Branching and ATM Access Access to over 5,000 shared branch locations and 30,000 surcharge-free ATMs through the Co-Op Shared Branching and Xtend Shared Branching Networks, allowing members nationwide to perform basic teller transactions such as deposits, withdrawals, loan payments, transfers, and statement requests.
• Business Loans Business loan products offered to business members of the credit union, with rates published on the dedicated business loan rates page.
• Mitchell Lama / Home Equity Loans Mitchell Lama and home equity loan products offered to credit union members as part of the residential lending portfolio.
• TruStage Life and Disability Insurance Life and disability insurance products offered to credit union members through a partnership with TruStage, providing family coverage options at credit-union-tailored terms.

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration5 records

Feature3 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Co-Op Shared Branching NetworkcoreChannel Partner/ Reseller/ DistributorConsumers FCU participates in the Co-Op Shared Branching Network, providing members access to over 5,000 branches and 30,000 surcharge-free ATMs across the country. Members can perform basic teller transactions, deposits, withdrawals, loan payments, and account inquiries at any participating credit union within the network.
• Xtend Shared Branching NetworkcoreChannel Partner/ Reseller/ DistributorPartners with Xtend Shared Branching Network to extend branch and ATM access for members nationwide.
• TruStagecoreGTM or Marketing PartnerConsumers FCU partners with TruStage to provide Life and Disability Insurance products for members. TruStage offers insurance services tailored for credit union members.
• CUNA Mutual InsuranceminorGTM or Marketing PartnerCUNA Mutual Insurance is listed as a joint marketing partner in the Privacy Policy. Joint marketing involves formal agreements between nonaffiliated financial companies to market financial products or services together.
• Warbasse Consumers Cooperative SocietycoreStrategic or Co-development PartnerEstablished in 1965 as a not-for-profit corporation for sponsoring educational seminars and activities. The Society assists members in acquiring supplies and professional services including medical, construction, and banking services. Members receive access to discounts at community establishments and full financial services from Consumers FCU.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Alliant Credit Union: Large national digital-first credit union with broad field of membership; comparable core deposit and personal loan products but at significantly greater scale and with stronger digital capabilities.
• PenFed (Pentagon Federal Credit Union): Large federally chartered credit union offering deposits, mortgages, auto loans, and personal loans nationwide — directly comparable federally chartered structure with deeper product breadth and digital scale.
• Digital Federal Credit Union (DCU): Massachusetts-based digital-forward credit union offering checking, savings, vehicle loans, mortgages, and personal loans nationwide — directly comparable product mix with stronger digital and self-service capabilities.
• First Tech Federal Credit Union: National federally chartered credit union offering consumer deposit and lending products; comparable charter type and product suite with a much larger member base and broader geographic reach.
• PSECU (Pennsylvania State Employees Credit Union): Mid-sized state-focused federally insured credit union offering a similar consumer deposit, auto loan, mortgage, and personal loan product set — useful peer for benchmarking small/mid-scale credit union economics.

Regional players

• ConEdison Federal Credit Union: NYC-based federal credit union serving utility employees and their families; comparable community credit-union model, deposit/loan product mix, and NYC operating geography.

Others

• TruStage: Insurance and financial products partner that already works with Consumers FCU — adjacent ecosystem participant enabling cross-sell of life and disability insurance to credit union members.
• Co-Op Solutions (Cooperative Network): Network operator for shared branching and ATM access used by Consumers FCU — adjacent infrastructure provider enabling the credit union's national service footprint at low capital cost.

Direct peers

• Municipal Credit Union: NYC-headquartered federal credit union serving municipal employees and broader NYC communities; comparable deposit/loan product mix and member-focused cooperative structure in the same operating geography.
• Bethpage Federal Credit Union: Long Island-based federal credit union serving the NY metro area with a comparable mix of deposit accounts, vehicle loans, mortgages, and shared branching — directly comparable in geography, product set, and member-owned structure.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ConsumersFcu
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/consumers-federal-credit-union
• Instagraminstagram.com/consumers_fcu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

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 Consumers Federal Credit Union