What Madison County Federal Credit Union does

Madison County Federal Credit Union (MCFCU) is a federally chartered, member-owned credit union founded in 1935 and headquartered in Anderson, Indiana, operating as a financial cooperative under NCUA Charter #306. Its field of membership covers Madison, Delaware, Hancock, and Henry Counties in Indiana, served through four branch locations (Main Office, South Anderson, Edgewood, and Elwood), shared-branch and ATM access across the CO-OP and Alliance One networks (over 30,000 surcharge-free ATMs), and a digital channel stack anchored by the It's Me 247 online banking platform and iOS/Android mobile apps.

The credit union's core operating system is a multi-channel banking platform combining first-party deposit and lending products with embedded third-party financial services. Deposit products include regular share accounts, share-draft checking with Smart Chip debit cards, certificates (6-60 month terms), and Launch youth savings accounts. The lending book spans new and used auto/motorcycle loans (rates as low as 4.45% APR), unsecured signature loans (as low as 9.9% APR), share-secured loans, VISA credit cards (9.9% fixed, 2% cash back), fixed home-equity loans, HELOCs, and first mortgages originated through the Member First Mortgage partnership. Adjacent services — InvestiFi self-directed investing (stocks, ETFs, crypto, $1 minimum), REPAY real-time cross-bank loan payments, Pocketnest AI financial-wellness coaching, TruStage auto/home/AD&D insurance, and Tickets at Work/Indianapolis Zoo/Holiday World/Kings Island discount perks — are integrated into the online and mobile experience. Biometric verification, SMS-based fraud alerts, and mobile wallet support (Apple Pay, Google Pay, Samsung Pay) complete the member-facing stack.

MCFCU's revenue mechanics are those of a community credit union: net interest income from lending, dividend expense on deposits, and ancillary fee/affiliate revenue from referral partnerships (mortgages via Member First Mortgage, student lending via ISL Education Lending, insurance via TruStage). Deposit and loan pricing are publicly disclosed on madcofcu.org with rates subject to creditworthiness. The institution holds equal-housing-lender status and NCUSIF-backed share insurance to $250,000, operates under community-based GTM anchored in local decision-making and personal service, and reports through NCUA Call Reports (specific financial figures not disclosed in the input data).

Name

Madison County Federal Credit Union

Legal name

Madison County Federal Credit Union

Website

https://madcofcu.org

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

1–10 employees

Short description

Madison County Federal Credit Union is a federally chartered, member-owned cooperative founded in 1935 in Anderson, Indiana, providing retail banking — deposits, consumer and mortgage lending, credit cards, investment, insurance, and financial wellness — to residents of four Indiana counties through four branches and integrated digital channels.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

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

Student & Youth Banking (FSABAAAH), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Digital banking
• Mortgage lending

Headquarters

HQ city

Anderson

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: The primary revenue source is interest income from various loan products including auto loans, mortgages, personal loans, credit cards, home equity loans, and HELOCs. Rates range from 4.45% APR for auto loans to 9.9% APR for signature loans.
2. Savings Account Dividends: Members earn dividends on savings accounts with rates of 0.1% APY on regular share accounts with minimum $50 balance. Certificate accounts earn rates from 1.71% to 2.79% APY depending on term length.
3. Insurance Services: Referral income from TruStage insurance products including auto, home, and AD&D insurance offered to members through partnership with TruStage Insurance Agency.
4. Student Loan Referrals: Referral compensation from ISL Education Lending for directing members to private student loans and refinance options.
5. Mortgage Origination Referrals: Revenue from partnership with Member First Mortgage, LLC for mortgage origination services referred to members.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

Madison County Federal Credit Union provides retail banking and consumer lending products to community members across Madison, Delaware, Hancock, and Henry Counties in Indiana, including share savings accounts, share draft checking, share certificates, auto and motorcycle loans, mortgages and HELOCs, personal/signature loans, share-secured loans, VISA credit cards, student loan referrals, and youth financial education through Launch Accounts. The credit union distributes these products through four branch locations, the It's Me 247 online banking platform, native iOS and Android mobile apps, and partner channels for mortgages (Member First Mortgage), insurance (TruStage), and student loans (ISL Education Lending). Members also access integrated tools such as Pocketnest financial wellness, InvestiFi investing, and REPAY real-time loan payments.

Product overview

Madison County Federal Credit Union operates a unified multi-channel banking platform centered on its core It's Me 247 online and mobile banking infrastructure. The product portfolio includes traditional deposit accounts (Share Accounts, Share Draft Checking with Smart Chip Debit Cards, Launch Youth Accounts, and Certificates), lending products (Auto/Motorcycle Loans including PaySaver financing, Personal Loans, Share Secured Loans, Mortgages, HELOCs, Student Loans, and VISA Credit Cards), and integrated financial services. Digital add-on modules include Pocketnest AI-powered financial wellness coaching, InvestiFi self-directed investment platform for stocks/ETFs/cryptocurrency, and REPAY real-time loan payment processing. Ancillary services encompass TruStage insurance, Financial Counseling, Overdraft Privilege, Round-Up Savings, Mobile Wallet (Apple Pay/Google Pay/Samsung Pay), Online Bill Pay, E-Statements, Fraud Alerts, and discount ticket partnerships. Members access over 30,000 surcharge-free ATMs through CO-OP and Alliance One networks.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Accounts (Savings) Savings (share) accounts paying monthly dividends on balances of $50 or more, available to MCFCU members living, working, attending school, worshipping, or volunteering in the four-county field of membership.
• Share Draft Checking Share draft (checking) account with Smart Chip contactless debit card access and relationship-pricing loan discounts for members in MCFCU's four-county Indiana field of membership.
• Share Certificates (CDs) Term-share certificates with terms from 6 to 60 months and APYs ranging from 1.71% to 2.79%, requiring a $500 minimum deposit ($100 minimum for Launch youth accounts); early withdrawal penalties apply.
• Smart Chip Contactless Debit Card EMV-enabled contactless debit card with enhanced fraud protection, global acceptance, tap-to-pay functionality, unlimited transactions, and a 1/4% relationship-pricing discount on auto loans for cardholders.
• MCFCU VISA Credit Card No-annual-fee fixed-rate VISA credit card offering 2% cash back on purchases (up to $100 per month), low fixed interest rates, and online statement access for individual consumer members.
• Auto and Motorcycle Loans Vehicle financing for new and used cars and motorcycles including the PaySaver loan program offering payments up to 40% lower than conventional financing with no money down, plus a limited-time refinancing promotion offering 1% cash back (up to $595) through August 31, 2026.
• Personal (Signature) Loans Unsecured personal signature loans for home repairs, debt consolidation, tuition, medical bills, weddings, vacations, moving expenses, and other personal needs at competitive rates.
• Share Secured Loans Secured loans using the member's MCFCU share (savings) account as collateral, offering lower interest rates than unsecured loans with terms up to 120 months and a minimum APR of 4%.
• Mortgages (First Mortgages) First mortgage solutions for home purchases and refinancing delivered through the Member First Mortgage, LLC partnership, with local mortgage specialists Dana Ricks and Kim Beasley serving MCFCU members.
• Home Equity Line of Credit (HELOC) Revolving home-equity credit line with a variable interest rate tied to prime, $10,000 minimum principal, a 10-year draw period with interest-only payments, and a 10-20 year repayment period.
• Student Loans (Private and Refinance) Private student loans and student loan refinancing offered through the ISL Education Lending nonprofit partnership, including access to multiple scholarship opportunities for MCFCU members and their families.
• Launch Youth Accounts Youth savings accounts for children ages 0-17 with hands-on financial education, $10 report card rewards, $5 birthday bonuses, $100 graduation gifts, $100-minimum CD opening, and annual $1,000 scholarship opportunities.
• TruStage Insurance (Auto, Home, AD&D) Insurance products for MCFCU members offered through TruStage Insurance Agency, including a discounted Auto & Home Insurance Program and no-cost $1,000 Accidental Death and Dismemberment Insurance, with optional additional AD&D coverage from $1-$1.50 per month per $10,000.
• Debt Consolidation Services One-on-one debt consolidation consultation and personal loan service that combines multiple debts into a single manageable monthly payment with potentially lower interest rates for MCFCU members.
• Financial Counseling Personalized financial guidance for MCFCU members covering budgeting, debt management, savings building, goal setting, and preparation for major life changes.
• Round-Up Savings Free automatic savings program that rounds debit card purchases to the next dollar and deposits the difference into a chosen MCFCU savings account for the member.
• Online Bill Pay Electronic bill payment service integrated with MCFCU online banking supporting one-time and recurring payments, e-bills, payment reminders, and saving members over $50/year in postage.
• E-Statements Electronic statement service accessible via MCFCU online banking, providing faster delivery, secure password-protected access, and historical statement archive for members.
• Mobile Wallet (Apple Pay, Google Pay, Samsung Pay) Contactless mobile payment tokenization supporting Apple Pay, Google Pay, and Samsung Pay for secure transactions using MCFCU credit and debit cards at tap-to-pay terminals.
• Fraud Alerts (SMS) SMS-based fraud alert service notifying MCFCU members of suspected identity or financial fraud incidents on their accounts, with HELP and STOP command support.
• Overdraft Privilege Checking account enhancement covering overdrafts up to established limits without returning items unpaid, available to MCFCU members after 60 days of account ownership with deposits and good standing.
• REPAY Real-Time Loan Payment Portal Real-time electronic loan payment portal enabling MCFCU members to pay MCFCU loans from any outside financial institution via debit card or ACH, with immediate posting and guest payment capability without logging into online banking.
• Pocketnest Financial Wellness Application AI-powered financial wellness application accessible within MCFCU's It's Me 247 online banking that coaches members through 10 themes of financial wellness, from budgeting to future planning, using generative AI for personalized guidance on phone in 3 minutes per week.
• InvestiFi Self-Directed Investment Platform Self-directed investment portal integrated into MCFCU online banking enabling members to invest in stocks, ETFs, and cryptocurrency with a $1 minimum, fractional investing, and no fee charges for purchases up to $5,000 per transaction; assets held via RQD Clearing LLC with crypto custody from SAFE Trust Company.
• Discount Entertainment Tickets Member-exclusive discount tickets to entertainment venues through Tickets at Work and direct partnerships, including Holiday World, Kings Island, Soak City, the Indianapolis Zoo, theme parks, hotels, rental cars, movie theaters, and restaurants.

Quantifiable outcome

• 1% cash back on auto loan refinancing up to $595 maximum payout
• +4 more outcomes

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

AI capability5 records

Feature6 records

Partnerships

Twelve partnerships are on record, tiered core and minor.

• Member First Mortgage, LLC (MFM)coreChannel Partner/ Reseller/ DistributorMCFCU partnered with Member First Mortgage, LLC to provide affordable mortgage solutions and excellent service to members. MFM offers easy online applications, wide range of loan offerings, competitive rates and closing costs, and expedited closings. Dana Ricks (NMLS #2234988) and Kim Beasley (NMLS #1804269) serve as local mortgage specialists for MCFCU members.
• TruStage Insurance AgencycoreChannel Partner/ Reseller/ DistributorPartnership with TruStage for Auto & Home Insurance Program offering discounted rates for credit union members, online services, and 24/7 claims service. Also provides no-cost $1,000 Accidental Death and Dismemberment Insurance to members. Local agent Peter Primason serves the Anderson area.
• InvestiFi (AdvisiFi, LLC)coreTechnology or IntegrationPartnership with InvestiFi brings a self-directed investment portal to MCFCU online banking, allowing members to invest in stocks, ETFs, and cryptocurrency starting at $1 minimum. Services include educational resources like Securities 101 and Crypto 101. Securities held with RQD Clearing LLC.
• REPAYcoreTechnology or IntegrationREPAY provides real-time electronic loan payment processing enabling members to pay MCFCU loans from outside financial institutions via debit card or ACH without logging into online banking. Payments post immediately with guest payment capability.
• ISL Education LendingminorChannel Partner/ Reseller/ DistributorPartnership with ISL Education Lending, a nonprofit organization, offers private student loans for college and refinancing options. MCFCU receives referral compensation for directing members to these services.
• CO-OP Shared Branch and ATM NetworkcoreTechnology or IntegrationAccess to CO-OP Shared Branch and ATM network provides over 30,000 surcharge-free ATMs including locations at major retailers like 7-Eleven, Circle K, Costco, and Publix. Enables nationwide branch access for members traveling outside the local area.
• Tickets at WorkminorGTM or Marketing PartnerPartnership provides members access to discounted tickets for entertainment including theme parks (Kings Island, Disney, Universal), hotels, rental cars, movie theaters, restaurants, and shopping through the Tickets at Work platform.
• Indianapolis ZoominorGTM or Marketing PartnerExclusive discount tickets for members to the Indianapolis Zoo available year-round through group sales portal with group code obtained via online banking or mobile app.
• Holiday World and Splashin' SafariminorGTM or Marketing PartnerPartnership provides members with discounted tickets to Holiday World Theme Park and Splashin' Safari Water Park, voted the cleanest park in the world. Members can purchase tickets online and print at home or display on mobile devices.
• Kings IslandminorGTM or Marketing PartnerPartnership provides members access to discount tickets for Kings Island amusement park and Soak City Water Park through Tickets at Work platform with company code 'KIMadiso'. Savings available on tickets, hotels, rental cars, and other entertainment.
• SAFE Trust CompanycoreTechnology or IntegrationCryptocurrency custody services provided by SAFE Trust Company, a Wyoming trust company, for the InvestiFi investment platform. Digital assets are held in wallets maintained by SAFE separate from the financial institution.
• RQD Clearing LLCcoreTechnology or IntegrationSEC-registered broker-dealer and member of FINRA/SIPC that serves as the executing broker and custodian of assets for InvestiFi Securities accounts. Handles trade execution and asset custody for member investment accounts.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Beacon Credit Union: Indiana-headquartered community credit union with a comparable multi-branch model serving retail consumers in central Indiana. Closely comparable in scale, community charter structure and product mix including auto loans, mortgages and digital banking.
• Inova Federal Credit Union: Indiana-headquartered community credit union offering consumer and mortgage lending, deposit products and digital banking to members in a defined community field. Closely comparable as a small, community-chartered Indiana credit union.
• Eli Lilly Federal Credit Union: Indiana-based federally chartered credit union with consumer deposit and loan products, digital banking and partnership-driven ancillary services. Comparable as a community-chartered Indiana institution of similar scale and product breadth.
• Heritage Federal Credit Union: Indiana-based community credit union offering consumer loans, mortgages and digital banking to a defined community field of membership. Operates a similar multi-channel model with branch and mobile/online banking focus.
• Members Choice Credit Union: Indiana-based community credit union serving a defined geographic field of membership with a similar mix of deposit accounts, consumer loans and digital banking channels. Comparable in community-led GTM and small-institution scale.

Broad incumbents

• Alliant Credit Union: National digital-first credit union offering high-yield savings, consumer loans, credit cards and investment products online. Represents the digital incumbent competing with MCFCU for digitally-engaged members in its field of membership.
• Connexus Credit Union: National credit union offering high-yield deposits, consumer and mortgage lending, and digital banking at scale. Comparable as a broader community/membership credit union whose online product set directly competes for MCFCU's digitally-active members.
• Teachers Credit Union: Large Indiana-headquartered credit union operating a statewide branch network with a broader product set, larger asset base and more advanced digital capabilities. Represents the scale-up incumbent MCFCU competes against for members in overlapping Indiana counties.
• Lake Michigan Credit Union: Large regional credit union with a broad product portfolio including consumer and mortgage lending, digital banking and investment services. Comparable as a larger community-banking alternative competing for the same consumer wallet share.

Others

• CO-OP Financial Services: Core infrastructure provider and shared branch/ATM network operator that MCFCU depends on for shared branching and 30,000+ surcharge-free ATM access. Relevant as a key enabling partner rather than a direct competitor.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/mcfcu
• Xx.com/madcofcu
• LinkedInlinkedin.com/company/madison-county-federal-cu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Madison County Federal Credit Union