Everence Federal Credit Union

Name

Everence Federal Credit Union

Legal name

Everence Federal Credit Union

Website

https://everence.com

Company type

Private

Founded year

1950

Operating status

Operating

Headcount range

251–500 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Faith-Based & Affinity Credit Unions (FSABAEAH)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Faith-based finance
• Credit union lending
• Investment management
• Insurance products

Headquarters

HQ city

Goshen

HQ country

United States

HQ region

North America

Offices27 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Credit Union Banking Services: Everence Federal Credit Union generates revenue through interest income on loans (personal loans, mortgages, auto loans, student loans, business loans, church loans), fees from checking and savings accounts, and credit card services.
2. Investment Management: Praxis Investment Management, a subsidiary of Everence, manages faith-based investments through mutual funds and ETFs, generating management fees.
3. Insurance Products: Offers Medicare supplement insurance, annuities, life insurance, dental and vision insurance for ages 60-plus, disability insurance, long-term care insurance, and Medicare Part D plans.
4. Financial Planning and Advisory: Provides financial planning services including retirement planning, estate planning, trust administration, and charitable giving advisory services.
5. Charitable Giving Services: Donor advised fund, planned giving, charitable trusts, and charitable gift annuities with associated fees.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels6 records

Core offering

Everence Federal Credit Union is a faith-based federal credit union operating as a ministry of Mennonite Church USA, providing personal and business banking, loans, insurance, investment management (through its subsidiary Praxis Investment Management), retirement planning, and charitable giving services. It serves approximately 100,000 members across 26+ offices in 14 states with bilingual English/Spanish support and values-aligned stewardship guidance.

Product overview

Everence Federal Credit Union is a faith-based financial services organization offering a comprehensive suite of banking, insurance, investment, and charitable giving products through a federated credit union structure. The core banking platform includes personal, business, and church banking services with accounts, loans, mortgages, and credit cards. Digital access is provided through My Everence (secure portal for insurance, investment, trust, and retirement accounts) and Online Banking via itsme247. Related financial services include Financial Planning, Insurance Products (Medicare supplement, annuities, life, disability, long-term care), and Asset Management with Praxis Investment Management (faith-based ETFs and mutual funds). Charitable services encompass donor advised funds, planned giving, and the Everence Sharing Fund (matched grants). Additional member benefits include budget/debt counseling via LSS Financial Counseling partnership, college scholarships, and the quarterly Toolkit e-newsletter.

Differentiator

Problem solved

Functional benefit

Brands

• Praxis Investment Management: Faith-based investment management company offering values-based investing strategies and ETFs
• My Everence

Products and services

• Personal Checking Accounts Personal checking accounts designed for individual members, available in multiple tiers including premium rewards and membership-tier options. Free checking and rewards checking are available to qualifying members.
• Personal Savings and Money Market Accounts
• Youth and Student Banking
• Share Term Certificates (CDs)
• Personal Loans
• Auto Loans
• Mortgages
• Home Equity Loans and Lines of Credit
• Business Banking
• Church and Nonprofit Banking
• Business Loans
• Insurance Products
• Investment Management (Praxis)
• Financial Planning and Stewardship Advice
• Charitable Giving Services
• Employer Retirement Plans
• Pastoral Wellness Program
• Online and Mobile Banking Platform

Quantifiable outcome

• $128.6 million in charitable gifts distributed to 4,300 nonprofit organizations on behalf of members
• +3 more outcomes

Named customers3 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core.

• LSS Financial CounselingcoreStrategic or Co-development PartnerEverence partners with LSS Financial Counseling, a service of Lutheran Social Service of Minnesota, to provide confidential budget and debt counseling services with certified counselors. Members receive up to six free counseling sessions, and members enrolled in LSS Debt Management Program have reduced debt by $1.8 million since the partnership began.
• Calvert ImpactcoreStrategic or Co-development PartnerPraxis Investment Management, an Everence company, partners with Calvert Impact for community development investing. In 2025, invested more than $25.8 million through this partnership for community development investing.
• Capital Impact PartnerscoreStrategic or Co-development PartnerPraxis Investment Management, an Everence company, partners with Capital Impact Partners for community development investing. In 2025, invested more than $25.8 million through this partnership for community development investing.
• Praxis Investment ManagementcoreOthersPraxis Investment Management is a subsidiary company of Everence, providing faith-based investment management through mutual funds and ETFs. Launched its first two ETFs in 2025 and manages impact investing strategies.
• Mennonite Church USAcoreOthersEverence is a ministry of Mennonite Church USA, a denomination with roots in Anabaptist tradition. Everence works to integrate faith and values with financial decisions for individuals, organizations, and congregations.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Digital Federal Credit Union (DCU): Large, federally chartered digital-first credit union serving an affinity community with full banking, lending, and investment products nationwide. Comparable in federal charter, integrated platform, and technology-enabled distribution footprint.
• Alliant Credit Union: Online-led national credit union serving a national affinity membership with full deposit, lending, and wealth products. Comparable to Everence as a digital-first federal credit union targeting a defined membership community.
• Connexus Credit Union: Mid-to-large digital-forward credit union with national membership and full suite of banking, lending, and investment products. Comparable to Everence as a similarly-sized federal credit union with diversified member services and modern digital channels.
• VyStar Credit Union: Multi-state regional credit union with extensive branch network and a full digital/mobile platform. Comparable to Everence's multi-state distribution, NCUA-regulated federal-style structure, and integrated banking, mortgage, and investment offerings.
• SchoolsFirst Federal Credit Union: Large affinity-based (California educators) federal credit union offering full banking, lending, investment, and retirement products. Comparable in product breadth, federal charter, and affinity membership model, though larger and without religious orientation.
• Knights of Columbus: Large Catholic-affinity fraternal insurer offering life insurance, annuities, and member benefits to a faith-based community. Comparable to Everence's insurance product line and affinity-membership operating model at much larger scale.

Direct peers

• Catholic Financial Life: Catholic-affinity fraternal financial services provider combining insurance, annuities, and savings products for faith-aligned members. Directly comparable to Everence's whole-life-faith financial services playbook despite different denomination.
• Christian Community Credit Union: Faith-based federal credit union serving Christian church workers, pastors, missionaries, and members across the U.S. Direct peer to Everence's church-and-faith-banking franchise with analogous lending and deposit products.
• Ministers and Missionaries Benefit Board (MMBB): Anabaptist-aligned retirement and insurance organization serving Mennonite, Brethren in Christ, and similar communities. Strong peer to Everence's Mennonite Retirement Trust and pastoral financial wellness offering for the same affinity base.
• Thrivent Financial: Faith-based (Lutheran) member-owned financial services organization offering banking, insurance, investments, and advice to an affinity community. Closest direct comparable to Everence: same fraternal/faith structure, integrated product suite, and stewardship-style advisor model.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/everence
• YouTubeyoutube.com/user/EverenceInc
• Facebookfacebook.com/everence
• LinkedInlinkedin.com/company/everence-financial-services
• Instagraminstagram.com/everencefinancial

Compliance4 records

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 Everence Federal Credit Union