IHMVCU

What IHMVCU does

IH Mississippi Valley Credit Union (IHMVCU) is a not-for-profit, member-owned financial cooperative founded in 1934 and headquartered in Moline, Illinois. It provides a full suite of retail and small-business banking, lending, insurance, and investment products to consumers and SMBs across the Quad Cities region of Iowa and Illinois, supported by a physical network of 17+ branch and Interactive Video Teller Machine (ITM) locations with extended drive-up hours, a 24/7 phone branch, online account opening, and a digital banking platform with mobile app, mobile remote deposit capture, and mobile wallet compatibility (Apple Pay, Google Pay, Samsung Wallet).

The product portfolio spans core deposit products (Free Checking, Checking Plus, CashBooster Checking offering 4.00% APY on balances up to $15,000, regular and youth savings including the Balance Builder Junior Savers at 3% APY, and CDs), lending products (auto, mortgage, home equity, personal, student, and business loans), Visa credit cards with 1% cash back, and retirement/health accounts (Traditional/Roth IRAs, HSAs). Insurance is delivered through IHMVCU Insurance Services, a wholly-owned subsidiary acting as an independent agency distributing auto, home, life, and commercial coverage across multiple carriers including Progressive, Travelers, Nationwide, Safeco, Encova, Foremost, National General, ASI, and the National Flood Insurance Program. Investment and financial planning services are delivered through a partnership with Broker Dealer Financial Services Corp., and debt counseling is delivered through GreenPath Debt Solutions. Member financial education is anchored by the Compass™ Financial Tools platform and the Money Smarts Blog.

IHMVCU's revenue model is structured as a credit union cooperative: primary revenue from net interest income on the loan portfolio (interest income on loans offset by interest paid on member deposits), supplemented by account service and transaction fees (overdraft, wires), insurance commissions from IHMVCU Insurance Services, and referral-based economics on investment services. As a not-for-profit, surplus is returned to members through competitive deposit rates, lower loan rates, and reduced fees rather than distributed to shareholders. The institution is federally insured by the NCUA, is not publicly traded, and operates under a member-owned governance structure that functionally eliminates traditional equity-investor ownership.

Name

IHMVCU

Legal name

IH Mississippi Valley Credit Union

Website

https://ihmvcu.org

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

101–250 employees

Short description

IHMVCU is a not-for-profit, member-owned credit union founded in 1934 serving the Quad Cities region of Iowa and Illinois. It provides consumer and small-business banking, lending, insurance, and investment products through 17+ branches and a digital banking platform.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Retail banking services
• Consumer lending products
• Credit union membership
• Business banking services
• Insurance and investments

Headquarters

HQ city

Moline

HQ country

United States

HQ region

North America

Offices17 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: Primary revenue stream from interest charged on various loan products including auto loans, mortgages, home equity, personal loans, and credit cards
2. Deposit Interest Expense Savings: Credit union model allows offering competitive rates on deposits as savings are passed back to members rather than distributed to shareholders
3. Service Fees and Charges: Various account service fees, overdraft fees, wire transfer fees, and other transactional charges
4. Insurance Services Commission: Revenue from wholly-owned subsidiary IHMVCU Insurance Services offering auto, home, life, and commercial insurance through multiple carrier partnerships
5. Investment Services: Financial planning, IRA, and investment services offered through partnership with Broker Dealer Financial Services Corp.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels7 records

Core offering

IHMVCU is a member-owned, not-for-profit credit union that provides retail and business banking products, consumer and commercial loans, credit cards, certificates of deposit, IRAs, health savings accounts, insurance (auto, home, life, commercial), and investment advisory services to members in the Quad Cities region of Iowa and Illinois. Distribution spans physical branch and Video Teller (ITM) locations, 24/7 digital banking, mobile wallet integration, and employer partnerships.

Product overview

IH Mississippi Valley Credit Union (IHMVCU) operates as a full-service financial institution offering a comprehensive suite of banking, lending, investment, and insurance products. The core banking platform includes Digital Banking (online and mobile), Checking Accounts (Free Checking, Checking Plus, and CashBooster Checking with 4.00% APY), Savings Accounts (including Balance Builder Junior Savers at 3% APY for youth), and CDs. Lending products span Auto Loans, Mortgage Loans, Home Equity Loans, Personal Loans, Student Loans, and Business Loans. Investment services include IRAs (Traditional and Roth), Health Savings Accounts, and IHMVCU Investment Services for financial planning. Insurance offerings are provided through IHMVCU Insurance Services (wholly-owned subsidiary) including Auto, Home, Life, and Commercial insurance products. Additional services include Video Teller Machines (ITMs) for extended-hours banking, Compass™ Financial Tools for financial wellness, Debt Coaching via GreenPath partnership, and Member Advantages discount program.

Differentiator

Problem solved

Functional benefit

Brands

• Compass™ Financial Tools: Financial education and wellness platform offering saving strategies, debt management, and budgeting tools
• IHMVCU Insurance Services
• Video Teller / ITM
• Balance Builder Junior Savers
• CashBooster Checking

Products and services

• Digital Banking Online and mobile banking platform enabling members to access accounts 24/7, transfer funds, pay loans, deposit checks remotely via mobile deposit capture, and manage finances through web and mobile applications.
• Checking Accounts Personal checking account options including Free Checking (no minimum balance, no monthly fees) and Checking Plus (requirements to earn dividends at qualifying rate, with no penalty for non-qualification), supported by online banking, mobile app, and on-the-spot debit card printing at branches.
• CashBooster Checking High-yield spending account offering 4.00% APY on balances up to $15,000 (0.15% APY on amounts above), with eStatements enrollment, no minimum balance to earn dividends, no monthly fee, free debit card, and up to $25 in monthly ATM rebates.
• Savings Accounts Personal savings account options including regular savings and holiday savings accounts that allow year-round deposits with automatic balance transfers for holiday shopping.
• Balance Builder Junior Savers Youth savings account earning 3% APY with a $50 bonus for building smart saving habits, designed for children and teens to develop financial literacy, with financial education resources and savings challenges.
• Certificates of Deposit (CDs) Term deposit accounts with fixed rates for members seeking guaranteed returns on saved funds over specific periods.
• Credit Cards Visa credit cards offering 1% cash back on all purchases with no categories to activate or limits to track, including card controls and fraud protection.
• Auto Loans Financing options for purchasing new or used vehicles, with competitive rates and flexible terms for qualified buyers.
• Mortgage Loans Home mortgage financing options for purchasing residential properties, including conventional and specialized mortgage products.
• Home Equity Loans Loans secured by the equity in a member's home, providing funds for major expenses while leveraging property value.
• Personal Loans Unsecured loans for various personal needs including debt consolidation, major purchases, or unexpected expenses.
• Student Loans Education financing options for members pursuing higher education or refinancing existing student loan debt.
• Business Checking Commercial checking accounts designed for business owners to manage business finances, with features for cash flow management and transaction tracking.
• Business Savings Savings accounts tailored for business owners to set aside funds for business emergencies, growth, or planned expenses.
• Business Loans Commercial lending products including term loans and lines of credit to support business growth, equipment purchases, and operational needs.
• IRAs Individual Retirement Accounts including Traditional and Roth IRA options with tax-advantaged savings for retirement.
• Health Savings Account (HSA) Tax-advantaged savings account for individuals with high-deductible health plans, allowing pre-tax contributions for qualified medical expenses.
• IHMVCU Investment Services Financial planning and investment advisory services including wealth accumulation strategies, retirement planning, IRA management, and 401(k) rollovers, offered through partnership with Broker Dealer Financial Services Corp.
• IHMVCU Insurance Services Insurance products offered through wholly-owned subsidiary including auto, home, life, and commercial insurance, working with multiple regional and national carriers (Encova, Foremost, National General, Nationwide, Progressive, Safeco, Travelers) and delivering average member savings of $600 yearly with multi-policy bundling.
• Auto Insurance Vehicle insurance coverage through IHMVCU Insurance Services, with average member savings of $550 on auto insurance policies.
• Home Insurance Homeowners insurance coverage through IHMVCU Insurance Services, with average member savings of $350 on home insurance policies.
• Life Insurance Life insurance products to protect families financially in the event of death, offered through IHMVCU Insurance Services.
• Commercial Vehicle Insurance Insurance coverage for commercial vehicles and fleets, designed for business owners to protect company assets.
• Rental Property Insurance Insurance coverage for landlords and property owners to protect rental properties and liability exposure.
• Video Teller Machines (ITM) Interactive Teller Machines allowing members to deposit checks, get cash back, make loan payments, and receive account assistance through live video tellers, available at multiple branch locations with extended drive-up hours.
• Compass™ Financial Tools Financial wellness platform providing saving strategies, debt management tools, and resources to help members stay on track with their financial journey.

Quantifiable outcome

• Members saved $323,000 in 2023 through Member Advantages program
• +4 more outcomes

Named customers2 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature4 records

Partnerships

Two partnerships are on record, tiered core.

• GreenPath Debt SolutionscoreStrategic or Co-development PartnerPartnership with GreenPath for debt counseling and financial wellness services. GreenPath has helped individuals tackle debts for over 50 years, offering customized budgets and action plans to help members get out of debt.
• Broker Dealer Financial Services Corp.coreStrategic or Co-development PartnerSecurities broker-dealer partnership for investment and financial planning services. Securities offered through this FINRA member firm. Bob Blaze, CFP provides wealth accumulation strategies, IRAs, and retirement plan rollovers.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• GreenState Credit Union: Iowa-based credit union with comparable community focus, deposit products, and lending services; one of the largest credit unions in the Midwest and a natural comp for IHMVCU's geographic area.
• Ascent Credit Union: Regional not-for-profit credit union offering a similar full suite of consumer banking, lending, and member-focused services; directly comparable in cooperative structure and product breadth.

Others

• GreenPath Financial Wellness: Nonprofit credit counseling and financial wellness partner that IHMVCU distributes through its Debt Coaching offering; relevant ecosystem partner and indirect competitor in member financial health services.

Broad incumbents

• BECU: Large community-focused credit union in the Pacific Northwest with a comparable cooperative model, full banking/lending/insurance product suite, and strong digital and branch delivery.
• Connexus Credit Union: Large multi-state credit union with competitive high-yield checking and savings products; overlaps with IHMVCU on rate-led acquisition strategy and digital-first member experience.
• Alliant Credit Union: Large national credit union offering online-forward banking and high-yield deposit products that compete directly with IHMVCU's CashBooster Checking; broader scale but similar member-owned structure.

Regional players

• Veridian Credit Union: Midwestern credit union offering banking, lending, and investment services with similar cooperative member-owned model and full-service community orientation.
• SchoolsFirst Federal Credit Union: Large membership-based credit union offering the full suite of consumer banking, lending, and investment products; similar not-for-profit cooperative structure and member-oriented value proposition.
• Lake Michigan Credit Union: Michigan-based regional credit union with comparable size, branch network, full-service product mix, and community credit-union value proposition.
• Great Western Credit Union: Another regional credit union with comparable member-owned model, deposit and lending products, and community-focused positioning, though serving a different metro footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/ihmvcu
• YouTubeyoutube.com/user/myihmvcu
• Facebookfacebook.com/myihmvcu
• LinkedInlinkedin.com/company/ihmvcu
• Instagraminstagram.com/ihmvcu

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 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 IHMVCU