Erie Federal Credit Union

What Erie Federal Credit Union does

Erie Federal Credit Union is a federally chartered, member-owned financial cooperative founded in 1936 (originally as Erie School Employees Federal Credit Union) and headquartered at 3503 Peach Street, Erie, Pennsylvania. It operates as a full-service community credit union serving anyone who lives, works, worships, or attends school in Erie and Crawford Counties, PA, through a network of 9 branch locations, proprietary deposit-taking ATMs, and the CO-OP Shared Branching and ATM networks. With approximately 79,000 members and over $820 million in assets as of June 2025, it is the largest credit union in Northwest Pennsylvania and holds Community Development Financial Institution (CDFI) certification from the U.S. Treasury Department (May 2023).

The product portfolio spans consumer checking and savings accounts (including Dividend+Plus Checking at 2.02% APY and Sidekick Savings at 2.53% APY), share certificates and money market accounts, a full lending suite (mortgages, home equity, auto at APRs starting at 4.44%, personal, RV/boat, and credit cards), and a small/medium business banking vertical covering commercial mortgages, SBA loans, business lines of credit, equipment financing, and merchant services through a Newtek partnership. Investment and retirement services are delivered through Erie Advisors and the Retirement Central platform, and insurance products are offered via a TruStage partnership. Digital delivery runs on the EZ Access electronic services suite — EZ Money Manager (online banking), EZ Mobile (iOS/Android app with mobile deposit), EZ Bill Pay, EZ e-Statements, EZ Phone, and the Card Manager app — supplemented by an AI-powered virtual assistant (MAE) launched in December 2025 for 24/7 member support.

Erie FCU earns revenue primarily through net interest income on its loan portfolio (auto, mortgage, personal, commercial, and credit card) and secondarily through transaction-based fees (overdraft, NSF, stop payment, card replacement, wire transfer, account research) and dividend/interest expense on member share accounts. GTM is direct-to-consumer and direct-to-SMB, distributed through physical branches, the EZ digital channel suite, the ErieFCU@Work employer partnership program, community sponsorships (Erie Zoo, Waldameer, SeaWolves, Playhouse), and a Pass It On referral program that pays $25 to both referrer and new member. The institution is governed as a cooperative with no external equity holders, is federally insured by the NCUA, holds NMLS #414454, and is an Equal Housing Lender.

Name

Erie Federal Credit Union

Legal name

Erie Federal Credit Union

Website

https://eriefcu.org

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

101–250 employees

Short description

Erie Federal Credit Union is a federally chartered, member-owned credit union serving Erie and Crawford Counties, PA. With ~79,000 members, $820M+ in assets, and 9 branches, it offers consumer and small-business banking, lending, and wealth services under CDFI certification.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Depository Credit Intermediation (5221)

SIC

National Commercial Banks (6021)

akta.pro primary industry

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

akta.pro secondary industries

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Consumer banking services
• Mortgage lending
• Auto loans
• Credit union services
• Business lending

Headquarters

HQ city

Erie

HQ country

United States

HQ region

North America

Offices9 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: As a credit union, Erie FCU generates revenue primarily through interest earned on loans including mortgages, auto loans, personal loans, business loans, and credit cards. Interest rates vary by product type and creditworthiness, with APRs ranging from 4.44% for auto loans to 11.50% for certain boat/RV loans.
2. Fee Income: Various service fees including overdraft fees ($30), NSF fees ($30), stop payment fees ($30), account research fees ($20/hour), card replacement fees ($10), ATM fees, wire transfer fees, and loan payment convenience fees. These fees apply across checking, savings, and loan products.
3. Interest on Deposits/Share Accounts: Dividend/interest payments to members on deposit accounts including savings, checking, money market, and share certificates. Rates are tiered and vary by account type and balance.
4. Investment Income: Returns on credit union's investment portfolio from member deposits not loaned out. Supporting products include IRAs, US Savings Bonds, and share certificates.

Pricing tiers

Go-to-market motion1 record

Distribution channels9 records

Marketing channels9 records

Core offering

Erie Federal Credit Union is a member-owned, federally chartered credit union providing personal and business banking, consumer and commercial lending (mortgages, auto, personal, business), credit cards, savings and investment products, and digital banking services. It operates 9 branches across Erie and Crawford Counties, PA, serving nearly 79,000 members with more than $820 million in assets.

Product overview

Erie Federal Credit Union operates as a full-service financial institution offering a comprehensive suite of banking, lending, and investment products. The core banking platform centers on the EZ Access electronic services suite (EZ Money Manager, EZ Mobile, EZ Bill Pay, EZ e-Statements), supplemented by the Card Manager application for credit and debit card controls. The product portfolio spans personal and business checking/savings accounts with tiered dividend options, share certificates, and money market accounts; consumer lending including mortgages, auto loans, personal loans, and credit cards; business services encompassing commercial lending, SBA loans, and business checking; investment products through Erie Advisors and Retirement Central; and insurance offerings via TruStage partnership. A 24/7 AI virtual assistant (MAE) provides member support through text-based chat and phone interactions. All services are integrated with payment networks (Mastercard, Visa, CO-OP ATM) for nationwide accessibility.

Differentiator

Problem solved

Functional benefit

Brands

• EZ MOBILE™: 24/7 online account access
• EZ MONEY MANAGER™
• EZ BILL PAY™
• EZ ACCESS™
• EZ e-Statements™
• EZ PHONE™
• Card Manager

Products and services

• Checking Accounts Personal checking account offerings for individuals including Free Checking, Premium Checking with monthly service fee and tiered dividends, and Dividend+Plus Checking with relationship-rate APY of up to 2.02% on balances $500-$25,000 when requirements are met.
• Savings & Share Certificates Personal savings offerings including Regular Share Savings, Holiday/Special Share Clubs, EZ Saver, Sidekick Savings (2.53% APY), and Share Certificates with multiple terms. APYs range from 0.10% to 2.53% depending on account type and balance.
• Money Market Accounts Tiered money market savings accounts requiring a $5,000 minimum balance, with APY ranging from 0.60% to 1.40% depending on balance tier, with monthly dividend payments.
• Business Checking Business checking accounts including Business Checking (non-dividend), Business Plus Checking with tiered interest (0.10%-0.40% APY) and bonus rate eligibility up to 0.25% additional when $2,500 in monthly debit card transactions post, and Community Checking for non-profits.
• Mastercard Credit Cards Personal and business Mastercard credit cards including eco-friendly options made from reclaimed ocean plastics, with features such as contactless tap-to-pay, no annual fee, no balance transfer fees, Card Manager app control, and Mastercard Zero Liability protection.
• Mortgage Center Residential mortgage lending for purchase, refinance, and home equity options with rates as low as 5.750% APR, including First Front Door grant program offering up to $15,000 in down payment and closing cost assistance for qualifying first-time homebuyers.
• Auto Center Auto loan financing for new vehicles (2024+) and used vehicles (2020-2023), with APRs starting at 4.44% for new autos, boat/RV financing from 8.25%-11.50% APR, auto refinance with up to 2% rate reduction, and access to CUDL AutoSmart vehicle shopping tools.
• Business Lending Commercial lending services for businesses in Erie and Crawford Counties including commercial mortgages, commercial vehicle loans, business lines of credit, equipment financing, SBA loans, and merchant loans.
• Erie Advisors Investment and retirement planning services including IRAs, financial planning, investment management, and rollover options, delivered through licensed Erie Advisors representatives.
• Personal Loans Personal loans including Share Secured Loans (6.00% APR up to 60 months) and EZ Personal Loans (unsecured, 6.49%-9.49% APR depending on term, maximum $15,000), plus Skip-a-Pay program allowing up to 2 deferrals per year at $30 per use.
• EZ Money Manager Online Banking 24/7 online banking platform that provides members account access, bill pay, e-statements, fund transfers, and loan management through a web interface and is part of the EZ Access suite of electronic services.
• Mobile Banking App (EZ Mobile)

Quantifiable outcome

• Dividend+Plus Checking delivers up to 2.02% APY for balances $500-$25,000 when requirements are met
• +5 more outcomes

Named customers4 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

AI capability2 records

Feature11 records

Partnerships

18 partnerships are on record, tiered core and minor.

• CU Strategic PlanningcoreImplementation/ SI/ Consulting Partner · 22 May 2023CU Strategic Planning, the largest credit union consultancy focused on CDFI certification and grant fund applications, assisted Erie FCU in obtaining its CDFI certification from the U.S. Treasury Department. The firm specializes in CDFI certification, strategic planning, financial empowerment, and Diversity, Equity & Inclusion initiatives. They have procured $800 million in funding for CDFI credit unions over 15 years.
• PENNVEST (Pennsylvania Infrastructure Investment Authority)coreStrategic or Co-development PartnerErie FCU is partnered with PENNVEST as a participating lender for the PENNVEST Homeowner Sewage Program, offering low-cost financing for septic system repair/replacement or sewer connection. Administered by the Pennsylvania Housing Finance Agency (PHFA) and Pennsylvania Department of Environmental Protection (DEP).
• Pennsylvania Housing Finance Agency (PHFA)coreStrategic or Co-development PartnerPHFA co-administers the PENNVEST Homeowner Sewage Program with PENNVEST and DEP, providing low-cost financing options for eligible Pennsylvania homeowners.
• Pennsylvania Department of Environmental Protection (DEP)coreStrategic or Co-development PartnerDEP co-administers the PENNVEST Homeowner Sewage Program, addressing environmental and public health through funding for on-lot sewage system repairs and sewer connections.
• Newtek (Small Business Authority)coreTechnology or IntegrationErie FCU partners with Newtek to offer business members access to a suite of business support services including merchant processing, payroll and benefits, eCommerce, insurance, managed technology, and web design.
• TruStage Financial GroupcoreTechnology or IntegrationTruStage provides Erie FCU members with access to auto insurance, home insurance (underwritten by Liberty Mutual), and life insurance products, as well as accidental death and dismemberment coverage ($1,000 no-cost coverage fully paid for by Erie FCU).
• CO-OP Shared BranchingcoreChannel Partner/ Reseller/ DistributorErie FCU participates in the CO-OP Shared Branching network, allowing members to conduct transactions at over 5,000 shared branch locations nationwide. Network provides surcharge-free ATM access.
• CO-OP ATM NetworkcoreChannel Partner/ Reseller/ DistributorCO-OP ATM Network provides Erie FCU members surcharge-free ATM access at network ATMs across the country.
• CUDL (CU Direct)minorChannel Partner/ Reseller/ DistributorCUDL AutoSmart partnership provides Erie FCU members with online auto buying tools and vehicle pricing information.
• United Way of Erie CountycoreStrategic or Co-development PartnerErie FCU joined a Corporate Partner Coalition with United Way of Erie County to support Lincoln Elementary School as a United Way Community School. Coalition includes PNC Bank, ERIEBANK, Marquette Savings Bank, and Northwest Bank. Supports the Community School Model which addresses educational outcomes, social services, health resources, and basic needs.
• PNC Bank, ERIEBANK, Marquette Savings Bank, Northwest BankminorStrategic or Co-development PartnerFour other financial institutions joined with Erie FCU to form the Lincoln Elementary School Corporate Partner Coalition under United Way of Erie County's Community School initiative.
• Waldameer Park & Water WorldminorGTM or Marketing PartnerErie FCU offers members discounted combo passes to Waldameer Theme Park and Water World for the 2026 season. Members receive $7 off adult combo passes and $6 off children's passes using a member discount code.
• Erie PlayhouseminorGTM or Marketing PartnerErie FCU is a proud sponsor of the Erie Playhouse's 2026 season. Offers members exclusive BOGO (buy one, get one free) nights for performances including '1776' and 'Rudolph the Red Nosed Reindeer'.
• Erie SeaWolves (Minor League Baseball)minorGTM or Marketing PartnerErie FCU partners with the Erie SeaWolves for Sunday Family Fun Days at UPMC Park. Members receive a free hot dog and fountain drink with purchase of a regularly priced Sunday ticket when presenting their Erie FCU Mastercard, debit card, or member ID.
• Erie ZoominorGTM or Marketing PartnerErie FCU members receive $2 off general admission tickets (up to 4 per visit) and $5 off new or renewed memberships at the Erie Zoo. Demonstrates community support for local attractions.
• Second Harvest Food Bank of Northwest PAminorGTM or Marketing PartnerOne of 10 local organizations receiving $2,000 through Erie FCU's annual 'Give Hope – Feed the Need' campaign for food assistance. Campaign running for 5 consecutive years with $20,000 distributed annually.
• Meals on Wheels, Erie Salvation Army, Emmaus Soup Kitchen, Community of Caring, St. Martin Center, Home House of Erie Food Pantry, Bethany Outreach Center, Edinboro Food PantryminorGTM or Marketing PartnerNine additional local hunger relief organizations receiving $2,000 each through Erie FCU's annual 'Give Hope – Feed the Need' campaign supporting food-insecure families in Erie County.
• BALANCE (Financial Education)minorStrategic or Co-development PartnerErie FCU partners with BALANCE to provide members with free access to financial education resources and confidential financial counseling services to help with budgeting, managing spending, and debt.

Scale indicators7 records

Recent moves7 records

Expansion highlights6 records

Regional players

• Northwest Bank: Regional commercial bank serving Northwest PA, including Erie. Direct competitor for consumer and business deposits and loans in the same geographic footprint, and Erie FCU's partner in the United Way Community School Coalition.
• TruMark Financial Credit Union: PA-based credit union serving the Greater Philadelphia region; comparable cooperative structure with consumer/business banking products, though geographically distinct from Erie.

Broad incumbents

• PSECU (Pennsylvania State Employees Credit Union): Pennsylvania's largest credit union, also serving PA residents with a full range of consumer and business banking products. Larger asset base with similar member-owned cooperative model.
• PNC Bank: Large national bank with significant presence in Pennsylvania and a major employer of Erie-area residents. Competes for consumer and business banking, mortgages, and lending; Erie FCU's VP of Business Lending previously worked at PNC.

Emerging players

• Corning Credit Union: Growing PA-adjacent credit union offering full banking services including mortgages, consumer loans, and business banking to community members — comparable product breadth and mission to Erie FCU.

Direct peers

• Marquette Savings Bank: Community-focused savings bank based in Northwest PA, directly competing with Erie FCU for deposits, mortgages, and consumer lending in the same Erie-area market. Coalition partner in United Way Community School initiative.
• Cooperative Bank of America (CDFI cooperative peers): Other federally-chartered CDFI-certified credit unions serving defined communities with similar consumer lending, mortgage, and deposit products — direct cooperative peers in mission and product mix.
• ERIEBANK: Community bank headquartered in Erie, PA, directly competing for consumer and small business deposits and loans in Erie and Crawford Counties. United Way Coalition partner.
• Community Savings Bank (PA): Pennsylvania-based community savings institution offering similar consumer and business banking products to regional members, with comparable geographic and demographic focus.

Others

• BallyShannon Financial Services (TruStage): Insurance and financial services partner providing Erie FCU members with auto, home, and life insurance products. Adjacent ecosystem participant rather than direct competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/eriefcu
• Facebookfacebook.com/eriefcu

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 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 Erie Federal Credit Union