Catholic United Financial Credit Union

What Catholic United Financial Credit Union does

Catholic United Financial Credit Union was a Minnesota-chartered, not-for-profit financial cooperative that served Catholic individuals, families, small businesses, and nonprofit organizations, primarily across the Upper Midwest. Its core banking stack spanned personal checking (Free, Ultimate, and Student tiers), savings and share certificates, mortgages and home equity lines of credit, vehicle loans, credit cards, IRAs, and youth accounts; on the business and nonprofit side it offered business checking and savings, merchant services, treasury management, commercial loans, and the differentiated Ultimate Non-Profit Checking account. Distribution combined two physical Minnesota branches (St. Paul and St. Cloud) with a digital platform including mobile app, online banking, Interactive Teller Machines (ITMs), and mobile wallet, supplemented by access to 4,000+ shared branches and 32,000+ fee-free ATMs nationwide through the credit union shared-branching network.

The credit union's revenue model rested on net interest income from its loan portfolio (mortgages, auto, home equity, commercial, and credit card receivables), fee-based services (account fees, merchant processing, treasury management, and interchange), and partnership-sourced investment and insurance revenue via Mission Investment Services and Mission Insurance Solutions. As a member-owned cooperative, surplus was returned to members through competitive deposit rates, lower loan pricing, fee-free checking, and community giveback rather than paid out as dividends to shareholders. Customer acquisition was community-led: parish and parish-adjacent word-of-mouth, Catholic nonprofit referrals (particularly via the ELEVATE fundraising program), faith-aligned content marketing, and physical branch presence within diocesan geographies.

Effective April 1, 2026, Catholic United Financial Credit Union merged into Notre Dame Federal Credit Union following member approval on March 18, 2026 and conditional National Credit Union Administration clearance announced February 2, 2026. The combined entity, operating under the Notre Dame FCU brand, manages approximately $1.4 billion in total assets, serves approximately 70,000 members across Indiana and Minnesota, and is led by President/CEO Thomas Gryp with Andrea Kuhl serving as Senior Vice President and Upper Midwest Market President.

Name

Catholic United Financial Credit Union

Legal name

Catholic United Financial Credit Union

Website

https://catholicunitedcu.org

Company type

Private

Founded year

2001

Operating status

Acquired

Headcount range

1–10 employees

Short description

Catholic United Financial Credit Union was a not-for-profit, member-owned credit union serving Catholic individuals, families, small businesses, and nonprofits in the Upper Midwest. It merged into Notre Dame FCU effective April 1, 2026, creating a combined institution with approximately 70,000 members and approximately $1.4 billion in total assets.

Ownership category

akta.pro rank

Product category

Community 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 industry

Faith-Based & Affinity Credit Unions (FSABAEAH)

Keywords

• Community credit union
• Personal banking services
• Commercial lending
• Nonprofit banking
• Mortgage lending

Headquarters

HQ city

Saint Paul

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income: Primary revenue from interest earned on loans including mortgages, auto loans, home equity, credit cards, and commercial loans. Credit union returns profits to members through better rates on loans and savings products.
2. Fee-Based Services: Revenue generated from account fees, merchant services, business services, treasury management, and credit card interchange fees.
3. Investment Services: Revenue from Mission Investment Services partnership offering IRAs, investment services, and insurance solutions through Mission Insurance Solutions.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Catholic United Financial Credit Union is a not-for-profit, member-owned financial cooperative serving Catholic communities in the Upper Midwest. It provides personal banking (checking, savings, mortgages, auto loans, credit cards, IRAs), business banking (checking, savings, merchant services, treasury management, commercial loans), and nonprofit banking services including the ELEVATE Fundraising Program. The credit union operates branches in St. Paul and St. Cloud, Minnesota, with access to 4,000+ shared branches and 32,000+ fee-free ATMs nationwide.

Product overview

Notre Dame FCU (the merged entity of Catholic United Financial Credit Union and Notre Dame Federal Credit Union) operates as a full-service financial cooperative offering a unified platform of banking products. The portfolio spans personal banking (checking, savings, certificates, mortgages, home equity, vehicle loans, credit cards), business banking (checking, savings, merchant services, treasury management, commercial loans), nonprofit banking (Ultimate Non-Profit Checking, ELEVATE Fundraising program with Elevate Debit and Credit Cards), and supplementary services (investment services, IRAs, insurance solutions, mobile/online banking). The ELEVATE Fundraising program enables nonprofit organizations to earn from supporter transactions, while the core credit card offers 1.5% cashback. The institution emphasizes access through 4,000+ shared branches and 32,000+ fee-free ATMs nationwide.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Free Checking, Ultimate Checking, and Student Checking accounts offering fee-free banking with direct deposit bonus incentives for individual members.
• Personal Savings Share savings, HSA, Christmas Club, and Education savings accounts for personal financial growth and tax-advantaged saving.
• Term Share Certificates Certificate accounts with competitive rates for fixed-term savings investments.
• Mortgages Home loan products including Fixed-rate, Adjustable-rate, FHA and VA home loans, and Construction-permanent loans.
• Home Equity (HELOC) Home Equity Line of Credit for debt consolidation and other financial needs.
• Vehicle Loans Loans for driving, riding, boating, and travel vehicles with competitive rates.
• Credit Cards Credit card earning 1.5% cashback on every purchase with 0% introductory APR on balance transfers and a $150 bonus.
• IRAs (Traditional, Roth, and Education) Individual Retirement Accounts including Traditional, Roth, and Education IRAs for retirement and education savings.
• Investment Services Professional investment services provided through Mission Investment Services for retirement and future planning.
• Mission Insurance Solutions Insurance products and solutions for asset protection and financial security.
• Business Checking Ultimate Business Checking Account with competitive earnings on deposits for small business members.
• Business Savings Business savings accounts to help businesses grow and reach future goals.
• Merchant Services Credit card processing services with reduced fees for business members.
• Treasury Management Financial services to help move business operations forward.
• Commercial Loans Commercial lending solutions for business growth and operational needs.
• Non-Profit Checking (Ultimate Non-Profit Checking) Checking account designed for nonprofit organizations with competitive earnings on deposits.
• ELEVATE Fundraising Program Nonprofit fundraising solution allowing organizations to earn 1% from supporter credit card transactions, having contributed over $400,000 in the previous year.
• Youth Accounts (LevelUp Checking & Boost Savings) Banking accounts designed for members aged 0-24 years, including LevelUp Checking and Boost Savings.
• Mobile Wallet Mobile payment solution enabling phone-based payments in stores, online, and peer-to-peer money transfers.

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

Feature3 records

Partnerships

One partnership is on record.

• Notre Dame Federal Credit UnioncoreStrategic or Co-development Partner · 1 April 2026Strategic merger combining two mission-driven credit unions serving Catholic communities. The merger, effective April 1, 2026, created a combined organization serving approximately 70,000 members with $1.4 billion in total assets. Catholic United Financial CU merged into Notre Dame FCU, with Catholic United Financial operating offices in St. Paul and St. Cloud, Minnesota becoming part of the expanded Notre Dame FCU footprint. Thomas Gryp continues as President/CEO of merged entity with Andrea Kuhl serving as Upper Midwest Market President.

Scale indicators4 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Self-Help Federal Credit Union: Community development credit union with mission-driven focus on underserved and values-aligned communities; comparable as a CDFI/community credit union leveraging cooperative structure and mission alignment to serve defined member populations.
• Wings Financial Credit Union: Affinity credit union serving the aviation community and broader membership; comparable as a community/affinity cooperative with a defined-field membership model, full-service banking platform, and similar emphasis on shared-branch access.
• BECU (Boeing Employees Credit Union): One of the largest U.S. credit unions with an employee/affinity-based membership field that has since expanded community eligibility; comparable as a large-scale affinity cooperative with full-service consumer and business banking.
• Alliant Credit Union: Community-chartered credit union with a broad national digital footprint and association-based membership eligibility; comparable as a large cooperative competing on rate, low-fee, and digital-banking value propositions similar to those of the merged Catholic United/Notre Dame entity.
• Lake Michigan Credit Union: Large Michigan-headquartered community credit union with comparable product breadth (consumer, mortgage, business, wealth) and a member-owned cooperative value proposition targeting a regional Upper Midwest customer base.
• SchoolsFirst Federal Credit Union: Large community/affinity credit union serving California school employees and their families; directly comparable as a mission-driven affinity cooperative with similar field-of-membership structure and full-service banking platform.
• Notre Dame Federal Credit Union: Direct merger partner and now the surviving entity into which Catholic United Financial CU was absorbed; the most direct comparable given identical Catholic-community affinity, NCUA-regulated credit union structure, and overlapping Indiana/Minnesota footprint.
• Christian Community Credit Union: Faith-based credit union serving Christian churches, ministries, and individuals; directly comparable as an affinity/community credit union with a values-aligned mission and similar member-owned cooperative structure.
• Catholic Financial Life: Fraternal benefit society and Catholic-affiliated financial services organization serving similar Catholic-community members with life insurance, annuities, and member benefits — a direct faith-based affinity peer competing for the same Catholic family wallet.
• Connexus Credit Union: Wisconsin-headquartered community credit union with significant Upper Midwest presence; directly comparable as a community-chartered cooperative offering consumer, mortgage, and business banking to a regional membership base.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/cufcu

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 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 Catholic United Financial Credit Union