VATAT Credit Union

What VATAT Credit Union does

VATAT Credit Union is a Texas state-chartered, member-owned cooperative financial institution founded in 1961 to serve the Ag Science Teachers Association of Texas. In December 1999, membership eligibility was expanded to include Texas Industrial Vocational Teachers (TIVA) and Family Consumer Science Teachers of Texas (FCSTAT), along with immediate family members of all eligible educators. The credit union operates from a single physical branch at 614 E 12th Street, Austin, TX, and serves members throughout Texas.

The credit union's core offerings include share (savings) accounts, share draft (checking) accounts, Christmas Club savings, and share certificates of deposit (6-24 month terms at 3.00%-3.80% APY). Lending products span new and used auto loans (6.39%-15.14% APR), tractor and farm equipment financing, recreational vehicle loans (boats, ATVs, motorcycles), signature personal loans, and share-secured loans. Add-on protections include GAP insurance, Mechanical Breakdown Protection via Route 66 Warranty, and Credit Life & Disability Insurance. A channel partnership with Sallie Mae extends private student loan access to members. Technology infrastructure consists of the It's Me 247 online banking platform (upgraded December 2024), a new iOS/Android mobile app with mobile check deposit (launching Winter 2024), Audio Teller phone banking, and shared branching access (Spring 2024). All deposits are NCUA-insured to $250,000.

The business model is a traditional credit-union net-interest-margin operation: interest income on consumer and equipment loans is the primary revenue stream, supplemented by transaction fees (NSF $28, outgoing wire $15, overdraft $4, skip-a-payment $25, stop payment $25, dormant accounts $5, etc.). Distribution is community-led through association partnerships and direct-to-consumer through the Austin branch and digital channels. The institution employs 1-10 staff, is led by CEO Meredith Hartmann with a member-elected Board of Directors chaired by Steve Forsythe, and is privately held with no parent company or external equity ownership.

Name

VATAT Credit Union

Legal name

VATAT Credit Union

Website

https://vatatcu.org

Company type

Private

Founded year

1961

Operating status

Operating

Headcount range

1–10 employees

Short description

VATAT Credit Union is a Texas state-chartered, member-owned credit union founded in 1961, serving Ag Science, Industrial Vocational, and Family Consumer Science teachers (and their families) across Texas through a single Austin branch and digital banking channels.

Ownership category

akta.pro rank

NAICS

Credit Unions (52213)

SIC

State Commercial Banks (6022)

akta.pro industry

PRIMARYFSABAEAB

Employer/Occupational Credit Unions

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Community & Cooperative Banking (Credit Unions, Mutuals)

SECONDARYFSABAEAA

Community Credit Unions (Retail/Consumer Focus)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Community & Cooperative Banking (Credit Unions, Mutuals)

SECONDARYFSAKAAAL

Bank & Credit Union Personal Loans (Unsecured Installment)

Financial & Insurance/Lending & Consumer Finance/Personal Loans (Unsecured Installment)

Keywords

• Credit union services
• Consumer lending
• Retail banking
• Savings accounts
• Auto loan financing

Headquarters

HQ city

Austin

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 on Loans: Primary revenue stream from interest charged on various loan products including auto loans, recreational vehicle loans, boat/motor/trailer loans, tractor/farm equipment loans, signature loans, and share/certificate secured loans. Rates vary based on creditworthiness and loan term.
2. Fee Income: Various service fees including monthly paper statements ($3.00), check copies ($8.00/item), wire transfers ($15.00 outgoing), skip-a-payment ($25.00/loan), overdraft/courtesy pay ($4.00/item), NSF fees ($28.00/item), stop payments ($25.00/request), dormant accounts ($5.00), and early Christmas Club withdrawal ($25.00).
3. Share Account Services: Share draft (checking) accounts with $500 minimum balance requirement to avoid $5.00 monthly service charge. Share savings accounts require $25 minimum deposit and $100 minimum balance to earn dividends.
4. Insurance Products: GAP (Guaranteed Asset Protection) insurance for auto loans covering the financial gap between vehicle value and loan payoff, plus additional products like Credit Life & Disability Insurance and Mechanical Breakdown Protection (extended warranty) offered through Route 66 Warranty.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels4 records

Core offering

VATAT Credit Union is a member-owned, not-for-profit cooperative financial institution that provides traditional retail banking and consumer lending products — including share (savings), share draft (checking), Christmas Club, and certificate accounts, plus a full suite of consumer loans (auto, boat/motor/trailer, recreational vehicles, motorcycles, tractor/farm equipment, signature personal loans, and share-secured loans) — to vocational agriculture teachers, Texas Industrial Vocational Teachers, Family Consumer Science Teachers of Texas, and their immediate family members in Texas.

Product overview

VATAT Credit Union offers a comprehensive suite of traditional banking products centered around its digital banking platform, It's Me 247 Online Banking, supported by mobile apps for iOS and Android. The core product portfolio includes Share Accounts (savings), Share Draft Accounts (checking), Christmas Club savings, and Certificate of Deposit accounts. Lending products span auto loans, recreational vehicle loans (boats, motorcycles, tractors), and signature/personal loans. The credit union also provides loan protection add-ons including GAP insurance, Mechanical Breakdown Protection (extended warranty), and Credit Life & Disability Insurance. A partnership with Sallie Mae extends private student loan options to members. Ancillary services include loan calculators, Audio Teller phone banking, wire transfers, direct deposit, ACH services, and overdraft protection from savings.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Accounts federally insured by NCUA to at least $250,000
• +1 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered supporting and core.

• Sallie MaesupportingChannel Partner/ Reseller/ DistributorSallie Mae private student loans offered through VATAT Credit Union as an additional lending product for members. The credit union redirects members needing private student loans to Sallie Mae's lending services.
• Route 66 WarrantysupportingChannel Partner/ Reseller/ DistributorRoute 66 Warranty provides Mechanical Breakdown Protection (extended warranty) products offered to members financing vehicles through the credit union. Members can also purchase extended warranties even without financing through VATATCU.
• It's Me 247 (Online Banking Platform Provider)coreTechnology or IntegrationCore software platform provider for online banking services. VATAT Credit Union upgraded to this platform in December to provide new online banking features including balance alerts, check imaging, and mobile-responsive design.
• JD Power (NADA Guides)supportingTechnology or IntegrationNADA Guides (JD Power Values) used for determining vehicle values on used auto loans and recreational vehicles. Referenced for pricing 'Avg Rtl JD Power' and 'Used Rtl JD Power' values.
• Liberty Site (Check Reordering)supportingTechnology or IntegrationThird-party check reordering service linked from the loan calculator page for members to order replacement checks.

Scale indicators3 records

Recent moves8 records

Expansion highlights6 records

Others

• Cornerstone Credit Union League: Regional credit union trade association serving Texas credit unions; not a competitor but provides industry support, regulatory compliance resources, and shared infrastructure relevant to VATATCU's operations.

Direct peers

• Firstmark Credit Union: San Antonio-based credit union originally founded by Texas Classroom Teachers Association; directly comparable occupational/educator credit union model serving Texas teachers with deposit and consumer loan products.
• EECU (Educational Employees Credit Union): Texas credit union serving public school employees across multiple districts; comparable occupational-charter model with similar member-finance focus on teachers, auto loans, and deposit accounts.
• Schools Financial Credit Union: California credit union serving school employees and educators; operates under a comparable occupational membership model with traditional deposit and consumer loan products.
• United Educators Credit Union: Minnesota credit union serving K-12 educators under an occupational charter (now part of TopLine Financial Credit Union); directly comparable occupational credit union focused on teachers and education professionals.

Regional players

• Amplify Credit Union: Austin, Texas-based community credit union with overlapping geographic footprint to VATATCU; offers similar deposit, lending, and digital banking products to a broader community membership base.
• Texas Trust Credit Union: Mid-size Texas credit union serving a community charter in North Texas; overlaps with VATATCU on consumer auto loans, deposit accounts, and digital banking expectations in the same statewide market.
• Austin Telco Federal Credit Union: Austin-headquartered community credit union with strong Texas overlap; competes for the same geographic deposit and consumer lending market as VATATCU with a broader membership charter.

Broad incumbents

• TDECU (Texas Dow Employees Credit Union): Large Texas-based credit union historically serving industrial employees and now operating with community charter; comparable deposit and consumer lending product set at much greater scale.
• RBFCU (Randolph-Brooks Federal Credit Union: One of the largest credit unions in Texas serving a broad community charter; competes for Texas consumer deposits, auto loans, and member relationships but at materially larger scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/vatatcu

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 VATAT Credit Union