Achieve Financial Credit Union

What Achieve Financial Credit Union does

Achieve Financial Credit Union is a member-owned, federally chartered credit union founded in 1934 and headquartered in Berlin, Connecticut, serving individual consumers in Hartford and New Haven County. It operates three physical branches (Berlin, New Britain, Meriden) and distributes a full-service retail banking product set spanning deposit products (Prime Share Savings, Special Savings, Money Market, Share Certificates, Traditional and Roth IRAs, Premium Checking, Young Adult Smart Checking), consumer loans (auto, boat, motorcycle, RV, personal, credit builder, share secured, student loan refinancing), home lending (home equity loans, HELOCs, and mortgages originated through a partnership with Allanach Mortgage Services), and a Platinum Rewards Visa credit card with balance transfer capability. The credit union is federally insured by the NCUA and supplements its balance sheet with insurance distribution through TruStage/Liberty Mutual.

The institution's technology stack centers on a unified Digital Banking platform accessible via web and native iOS/Android mobile apps, layered with Card Guard (integrated card controls for on/off, alerts, digital wallet provisioning, and PIN management), Call24 automated telephone banking, and eTeller hybrid ATM/teller machines. A digital assistant chatbot ("Ace") provides text-based answers to common banking questions, and a free credit score monitoring tool plus financial wellness module (budgets, savings goals, Financial Health Score) round out the digital experience. Members also access 30,000+ surcharge-free ATMs through the Co-op ATM network.

Monetization is driven by net interest margin on consumer and mortgage lending, fee income (overdraft, ATM, wire, loan application/recording/release fees), and commission/royalty income from insurance products underwritten by CMFG Life Insurance Company. GTM is direct-to-consumer and community-focused, emphasizing relationship-based service, financial education, in-person and virtual appointments, and a multi-channel marketing mix (Facebook, Instagram, X, YouTube, email newsletter, and an online Financial Education Center). Geographic concentration is a deliberate constraint: home equity loans, HELOCs, and property-based lending are restricted to Connecticut properties.

Name

Achieve Financial Credit Union

Legal name

Achieve Financial Credit Union

Website

https://achievefinancialcu.com

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

1–10 employees

Short description

Achieve Financial Credit Union is a member-owned, federally chartered credit union founded in 1934 in Connecticut, serving individual consumers in Hartford and New Haven County with deposit products, consumer and home loans, credit cards, and a digital banking platform.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Card Issuing (522210), Depository Credit Intermediation (5221)

SIC

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

akta.pro primary industry

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

akta.pro secondary industries

Credit Cards & Revolving Credit (FSABAAAC), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), Credit Score Monitoring & Credit Building (FSAGADAE)

Keywords

• Consumer banking services
• Personal lending products
• Deposit accounts
• Home equity lending
• Vehicle financing

Headquarters

HQ city

New Britain

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income - Consumer Loans: Primary revenue from interest charged on auto loans, home equity loans, personal loans, credit cards, and mortgages. Competitive rates targeting Connecticut residents.
2. Interest Income - Mortgage Loans: Origination and servicing of mortgage loans through partnership with Allanach Mortgage, generating interest income and origination fees.
3. Fee Income: Various account and transaction fees including overdraft fees, ATM fees, wire transfer fees, and loan-related fees (application, recording, release fees).
4. Insurance Products: Commission income from TruStage auto/home insurance program and credit life/disability insurance underwritten by CMFG Life Insurance Company.
5. Deposit Interest Expense Savings: Net interest margin from paying lower interest on deposits (savings, checking, money market, CDs) while lending at higher rates. Share certificates and IRA rates generate investment income.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels7 records

Core offering

Achieve Financial Credit Union is a member-owned cooperative financial institution that provides consumer banking products including checking and savings accounts, share certificates, IRAs, vehicle loans, personal loans, home equity loans, HELOCs, mortgages, and a Platinum Rewards Visa credit card. Services are delivered through physical branches in Connecticut, a digital banking platform (web and mobile), the Ace chatbot, Call24 telephone banking, eTeller hybrid machines, and 30,000+ surcharge-free ATMs.

Product overview

Achieve Financial Credit Union operates as a member-owned financial institution founded in 1934, serving Hartford and New Haven County, Connecticut with a full-service branch network and digital banking platform. Its product portfolio centers on a unified Digital Banking platform that serves as the primary access layer for all account and service management. Built on top of this platform are specialized card management tools (Card Guard), a credit score monitoring feature, and financial wellness tools including budgeting and savings goal tracking. The credit union also offers a traditional deposit and lending product suite including Savings Accounts (Prime Share, Money Market, Certificates, IRAs), Checking Accounts (Premium Checking, Young Adult Smart Checking), a full range of Vehicle Loans (Auto, Boat, Motorcycle, RV) with associated protection products (GAP Coverage, Route 66 Extended Warranty, Credit Life & Disability Insurance), Personal Loans (including Credit Builder and Share Secured variants), Student Loan Refinancing, Platinum Rewards Visa Credit Cards with balance transfer capability, and Home Loan products (Mortgages, Home Equity Loans, HELOCs). Supporting services include Ace Digital Assistant (chatbot), Call24 Telephone Banking, eTeller Machines, Financial Education Center, Financial Hardship Center, Foreign Currency Exchange, and insurance products through TruStage. The credit union recently announced a major Visa debit and credit card reissue (June 2026) featuring tap-to-pay, higher purchase limits, and transition from Mastercard to Visa on debit.

Differentiator

Problem solved

Functional benefit

Brands

• Card Guard: Enhanced card control feature integrated within digital banking, replacing the separate Card Control app. Allows users to turn cards on/off, set alerts, manage digital wallets, and control spending.
• Ace

Products and services

• Premium Checking Free consumer checking account with no monthly fee, no minimum balance, Early Pay direct deposit up to 2 days early, access to 30,000+ surcharge-free ATMs, overdraft protection options, and advanced card controls via Card Guard. Designed for Connecticut residents and members.
• Young Adult Smart Checking Checking account tailored for young adult members with digital-first features and money management tools.
• Prime Share Savings Primary share savings account with 0.05% APY; $5 minimum opening deposit; serves as the foundation membership account for credit union members.
• Money Market Account Tiered savings account with APY from 0.15% to 2.02% based on balance; $2,500 minimum deposit; tiers at $2,500-$9,999, $10,000-$24,999, $25,000-$49,999, and $50,000+.
• Share Certificates Term deposit accounts with fixed APYs ranging from 0.10% to 3.56% depending on term; $1,000 minimum for standard certificates and $500 minimum for IRA and Smart Start certificates; early withdrawal penalties apply.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings accounts available in Traditional and Roth variants; also includes IRA Money Market with tiered APY.
• Auto Loans Vehicle financing for new and used cars; terms up to 84 months; rates as low as 5.50% APR; financing available up to 100% of purchase price including tax, tag, title, and extended warranty.
• Auto Loan Refinancing

Quantifiable outcome

• Auto loan rates as low as 5.50% APR
• +3 more outcomes

Named customers4 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability2 records

Feature5 records

Partnerships

Four partnerships are on record, tiered core.

• TruStage (Liberty Mutual Insurance)coreChannel Partner/ Reseller/ DistributorTruStage Auto Insurance Program offers members discounted auto insurance through Liberty Mutual Insurance Company. Part of CMFG Life Insurance Company ecosystem. Members may qualify for savings with nationally recognized insurance providers, 24/7 service, and mobile app for claims.
• Allanach MortgagecoreTechnology or IntegrationMortgage lending partnership providing Achieve members access to mortgage products. Members are directed to Allanach Mortgage for current mortgage rates and applications.
• CMFG Life Insurance CompanycoreTechnology or IntegrationUnderwriter for Credit Life and Credit Disability Insurance products offered by Achieve Financial. Rated 'A' (Excellent) by A.M. Best as of December 2022.
• Co-op ATM NetworkcoreTechnology or IntegrationSurcharge-free ATM network providing members access to 30,000+ ATMs nationwide.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Emerging players

• Alliant Credit Union: Digital-first, nationally chartered credit union offering competitive deposit and loan rates with no physical branches. Emerging competitor threatening community credit unions like Achieve by targeting younger members nationwide with modern digital UX.
• SoFi Bank: Digital-first bank and lending platform offering consumer loans, deposit accounts, credit cards, and wealth products nationwide. Emerging fintech-style competitor with strong digital UX targeting the same consumer demographics as Achieve's digital modernization efforts.
• Connexus Credit Union: Nationally chartered credit union offering high-yield digital deposit products, consumer loans, and HELOCs online. Emerging competitor using digital channels to poach members from community credit unions like Achieve with comparable or better rates.

Broad incumbents

• Bethpage Federal Credit Union: Large federally chartered credit union offering consumer deposits, lending, mortgages, and digital banking nationally. Broader incumbent in the credit union space demonstrating the scale and product breadth a small institution like Achieve could aspire to via partnerships.
• Liberty Bank: Connecticut-based mutual savings bank offering a comprehensive suite of consumer and business banking products across the state. Larger and broader incumbent competing for the same CT consumer deposit and lending relationships.
• M&T Bank: Large regional bank with significant Connecticut branch presence following acquisitions, offering full consumer and commercial banking. Broader incumbent operating across the same Hartford/New Haven geography with wider scale and product set.

Direct peers

• Connex Credit Union: Connecticut-headquartered community credit union serving multiple counties in CT with a similar product mix of deposits, consumer loans, mortgages, and digital banking. Direct geographic and product overlap with Achieve Financial in the Hartford/New Haven region.
• Dutch Point Credit Union: Community credit union based in Wethersfield, CT serving Hartford County and surrounding areas. Comparable as a similarly sized Connecticut credit union offering consumer lending, mortgages, and digital banking to overlapping members.
• Sikorsky Financial Credit Union: Connecticut credit union serving employees, residents, and businesses in the greater CT area with deposits, consumer loans, and digital services. Directly comparable community-credit-union model serving overlapping Connecticut geography.
• Nutmeg State Financial Credit Union: Connecticut community credit union offering checking, savings, loans, and digital banking to members across the state. Directly comparable as a similarly sized CT-based member-owned cooperative competing for the same Hartford/New Haven member base.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key highlights7 records

Customer concentration

• Xx.com/achievecu
• YouTubeyoutube.com/channel/UCGCGw91TlQ7yvQbo537r8DA
• Facebookfacebook.com/achievefinancialcu
• Instagraminstagram.com/achievefinancialcu
• LinkedInlinkedin.com/company/achieve-financial-credit-union-inc-

Compliance1 record

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 Achieve Financial Credit Union