Texas Plains Federal Credit Union

What Texas Plains Federal Credit Union does

Texas Plains Federal Credit Union is a federally chartered, member-owned cooperative financial institution founded in 1940 and headquartered in Amarillo, Texas. It operates six physical branches across the Texas Panhandle (Amarillo, Crosbyton, Floydada, Fritch, Tahoka, and Tulia) and serves consumers, small businesses, farmers, ranchers, and homebuyers across nine counties including Amarillo, Crosby, Dickens, Floyd, Garza, Hutchinson, Lynn, Swisher, and Terry, with additional membership pathways through select Telephone and Electrical Cooperative employees in Texas, New Mexico, and Arizona and The 100 Club of the Texas Panhandle.

The credit union's product portfolio spans checking (Share Draft Checking plus the Kasasa sub-brand family: Kasasa Cash Back, Kasasa Cash, Kasasa Saver, and Kasasa Protect), savings products (basic Savings, IRAs, HSAs), and lending products including secured and unsecured consumer loans, vehicle loans, mortgage loans through the Texas Plains Federal Mortgage Center, and specialized agricultural lending. The underlying technology is a digital banking platform comprising an iOS/Android mobile application (relaunched April 2025 on Blossom technology) and a web-based online banking portal, supplemented by e-statements, loan calculators, and data encryption for transaction security. Leadership consists of President & CEO Michael Knowles.

The revenue model is driven primarily by net interest income from the loan portfolio (vehicle, mortgage, ag, secured, unsecured), account-level fee income from checking, savings, debit cards, and overdraft coverage, subscription-style Kasasa rewards economics, and revenue-sharing joint marketing arrangements with credit card, debit card, and insurance partners. Go-to-market is community-led: acquisition through local branch presence, community sponsorships (24 Hours In The Canyon, Junior Achievement, Window On a Wider World), social media (Facebook and Instagram), a quarterly newsletter (The Quarterly Deposit), and selective promotional pricing on vehicle loans and refinances. Membership requires a $25 minimum Share Savings Account opening.

Name

Texas Plains Federal Credit Union

Legal name

Texas Plains Federal Credit Union

Website

https://texasplainsfederal.org

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

11–50 employees

Short description

Texas Plains Federal Credit Union is a member-owned cooperative financial institution founded in 1940, operating six branches across the Texas Panhandle and offering checking, savings, Kasasa rewards, vehicle, mortgage, and agricultural lending to consumers, farmers, ranchers, and small businesses in the region.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213)

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), Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Retail banking services
• Consumer lending
• Agricultural lending
• Mortgage lending
• Community banking

Headquarters

HQ city

Amarillo

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from various loan products including vehicle loans (with promotional rates such as 1% off for July 2026 vehicle purchases, up to 2% rate reduction with down payment), mortgage loans, secured and unsecured personal loans, agricultural loans, and refinances
2. Account Fees and Services: Fee income from share draft checking, savings accounts including Individual Retirement Accounts (IRAs) and Health Savings Accounts (HSAs), debit cards, overdraft coverage, and other account services
3. Kasasa Rewards Accounts: Fee-based rewards checking and savings accounts including Kasasa Cash Back, Kasasa Cash, Kasasa Saver, and Kasasa Protect products
4. Joint Marketing Partners: Revenue sharing arrangements with Credit Card Companies, Debit Card Companies and Insurance Companies through joint marketing partnerships

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Texas Plains Federal Credit Union provides retail banking products and consumer lending services to members in the Texas Panhandle. Its core offerings include checking accounts (Share Draft Checking and Kasasa rewards products), savings accounts (regular savings, IRAs, HSAs), and a range of loans including secured loans, unsecured loans, mortgage loans, vehicle loans, and agricultural loans. Members access services through six physical branch locations and a mobile/online banking platform.

Product overview

Texas Plains Federal Credit Union operates as a single-institution credit union offering a unified suite of financial products and services centered on its Online Banking & Mobile App digital platform. The product portfolio spans checking accounts (Share Draft Checking and the Kasasa sub-brand family including Kasasa Cash Back, Kasasa Cash, Kasasa Saver, and Kasasa Protect), savings products (basic Savings Accounts, Individual Retirement Accounts, and Health Savings Accounts), and lending solutions including Secured Loans, Unsecured Loans, Mortgage Loans through the High Plains Home Lending Mortgage Center, and Ag Loans for agricultural borrowers. Complementary services include e-Statements, a Loan Calculator, and The Quarterly Deposit newsletter. The credit union has served Texans since 1940 and maintains six branch locations across the Texas Panhandle.

Differentiator

Problem solved

Functional benefit

Brands

• Kasasa: A rewards program offering Kasasa Cash Back, Kasasa Cash, Kasasa Saver, and Kasasa Protect accounts.
• Texas Plains Federal Mortgage Center

Products and services

• Online Banking and Mobile App Digital banking platform that enables members to access accounts, view histories, transfer funds, submit loan applications, and manage accounts 24/7 via a web browser or iOS/Android mobile application.
• Kasasa Cash Back Rewards checking account that earns cash back on debit card purchases.
• Kasasa Cash Rewards checking account that earns high interest on balances.
• Kasasa Saver Savings account with automatic transfers from Kasasa Cash or Kasasa Cash Back accounts to help members save effortlessly.
• Kasasa Protect Identity protection and monitoring service offered as part of the Kasasa rewards program.
• Share Draft Checking Standard checking account with features including debit cards, mobile pay, overdraft coverage, surcharge-free ATM access, direct deposit, and check ordering.
• Savings Accounts Basic savings accounts including regular savings and specialized accounts.
• Individual Retirement Accounts (IRA) Tax-advantaged retirement savings accounts.
• Health Savings Accounts (HSA) Tax-advantaged accounts for individuals with high-deductible health plans to pay for medical expenses.
• Secured Loans Loans collateralized by assets such as vehicles or savings accounts.
• Unsecured Loans Loans granted without collateral based on creditworthiness.
• Mortgage Loans Home purchase and refinancing loans offered through the Texas Plains Federal Mortgage Center (High Plains Home Lending).
• Ag Loans Agricultural lending program designed for farmers, ranchers, and ag businesses, offering financing and refinancing for livestock and equipment with competitive rates and flexible terms.

Quantifiable outcome

• Vehicle loan rate discount of 1% for July purchases
• +3 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Four partnerships are on record, tiered core and minor.

• Texoma FCUcoreOthersCompleted merger with Texoma FCU, announced in Summer 2025 newsletter. This expansion strengthened Texas Plains Federal's presence in the region.
• Window On a Wider WorldminorStrategic or Co-development PartnerPartnered for the Emerging Entrepreneurs event at West Texas A&M University where President & CEO Michael Knowles spoke to 300+ fifth and sixth grade students about financial literacy
• Junior Achievement of the High PlainsminorGTM or Marketing PartnerSupports Junior Achievement of the High Plains as part of commitment to investing in the next generation of leaders and strengthening communities
• 24 Hours In The CanyonminorGTM or Marketing PartnerProud sponsor of 24 Hours In The Canyon cycling event, providing cramp relief station support for riders in the Juniper rest stop area

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Capital Farm Credit: Farm Credit System lender providing livestock, equipment, and operating loans throughout Texas including the Panhandle; competes directly with Texas Plains' Ag Loans product for the same farmer and rancher borrowers.
• Firstmark Credit Union: San Antonio-headquartered Texas credit union offering consumer loans, mortgages, and a full deposit suite with strong auto-lending promotions, mirroring Texas Plains' vehicle-loan pricing strategy in a larger Texas market.
• Greater Texas Credit Union: Texas-based community credit union serving consumers and select employer groups with deposits, consumer loans, mortgages, and a defined-membership structure similar to Texas Plains.
• Happy State Bank (a Division of First United Bank): Texas Panhandle-rooted community bank offering ag lending, deposits, and mortgages across the same region as Texas Plains; a directly comparable community-banking competitor with strong local brand recognition.
• FirstBank Southwest: Amarillo-based community bank with a strong ag-lending franchise in the Texas Panhandle; directly competitive with Texas Plains on agricultural loans, deposits, and mortgage origination in the same counties.
• Amarillo National Bank: Locally owned commercial bank headquartered in Amarillo, competing head-to-head with Texas Plains for Panhandle deposits, ag lending, mortgage, and small-business banking in the same six-county footprint.

Broad incumbents

• Randolph-Brooks Federal Credit Union: One of the largest credit unions in Texas with a defined-membership model similar to Texas Plains' cooperative-employee eligibility; directly comparable as a Texas FCU delivering deposits, consumer lending, mortgages and ag-adjacent vehicle/equipment financing across the state.
• Security Service Federal Credit Union: Large federally chartered Texas-headquartered credit union offering a full deposit and consumer/mortgage/auto loan suite across Texas and nationwide; comparable as the same community-FCU playbook scaled to a much larger member base Texas Plains aspires to grow into.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TexasPlainsFCU
• Instagraminstagram.com/texasplainsfcu
• LinkedInlinkedin.com/company/texas-plains-federal

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Texas Plains Federal Credit Union