GESB Sheet Metal Workers FCU

What GESB Sheet Metal Workers FCU does

GESB Sheet Metal Workers Federal Credit Union is a federally chartered, NCUA-insured, member-owned cooperative founded in 1960 and headquartered at 6450 Ameriplex Dr., Portage, Indiana. It operates as a single-branch credit union serving a narrow Select Employee Group (SEG) consisting of sheet metal industry workers at qualifying employers in the greater Portage area, together with their immediate and extended family members and household members maintaining a single economic unit; this family-of-members extension is a central acquisition pillar. The product set is conventional for a community credit union: share (savings) and draft (checking) accounts, club accounts (Christmas, Vacation, Fund Manager), certificates of deposit (3-36 months), and a consumer loan book spanning new and used vehicle, recreational vehicle, personal, share-secured, and home-equity loans, priced on a risk-based, credit-score-tiered basis. Lending is supported by a low-cost funding base (savings APY at 0.25% on balances of $100+; certificates to 3.00% APY at 36 months), automated overdraft protection, and online/mobile banking via Member.Net with E-Statements.

The credit union extends its product reach without internal build-out through two strategic channel partnerships: Member First Mortgage, which originates conventional, FHA, USDA/RD, VA, fixed-rate, ARM, construction, and jumbo mortgages up to 97% LTV; and Sallie Mae, which provides Smart Option Student Loans for undergraduate, graduate, and career-training borrowers. Surcharge-free ATM access via a nationwide network of more than 28,000 machines and FedNow instant-funds transfers support member convenience. Revenue is generated primarily through net interest spread on consumer loans (4.00% to 14.50% APR on title-secured vehicle loans, 9.00% to 18.00% APY on unsecured loans), the 1.50% spread on share-secured loans, deposit-account service fees (wire transfers, cashier's checks, money orders), optional credit-life, disability, gap, and mechanical-breakdown insurance premiums, and referral fees from Sallie Mae and Member First Mortgage. The credit union is privately held, member-owned, and has 11-50 employees; revenue and financial statements are not publicly disclosed.

Name

GESB Sheet Metal Workers FCU

Legal name

GESB Sheet Metal Workers Federal Credit Union

Website

https://gesbfcu.org

Company type

Private

Founded year

1960

Operating status

Operating

Headcount range

11–50 employees

Short description

GESB Sheet Metal Workers Federal Credit Union is a federally chartered, NCUA-insured, member-owned cooperative founded in 1960 in Portage, Indiana, serving sheet metal industry workers, their families, and household members with savings, checking, certificate, and consumer loan products, supplemented by mortgage and student loan referral partnerships.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

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

Keywords

• Retail banking services
• Consumer lending
• Credit union membership
• Deposit accounts
• Savings and certificates

Headquarters

HQ city

Portage

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest: The credit union generates revenue primarily through interest charged on consumer loans including vehicles, motorcycles, boats, personal loans, home equity, and mortgages.
2. Savings and Certificate Account Interest: The credit union pays dividends on savings accounts and certificates, with interest rate spreads generating revenue from share secured loans at rates above the dividend rate.
3. Service Fees: The credit union generates fee revenue from services including wire transfers, cashier's checks, money orders, and optional insurance products such as Credit Life and Disability Insurance, Gap Insurance, and Mechanical Breakdown Protection.
4. Third-Party Lending Referral Fees: GESB receives compensation from Sallie Mae for referrals of student loan customers, and partners with Member First Mortgage for mortgage origination services.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

GESB Sheet Metal Workers Federal Credit Union is a member-owned cooperative credit union offering deposit products (share savings, draft checking, certificates, club accounts) and consumer loans (vehicles, recreational vehicles, personal, share-secured, home equity), supplemented by mortgages and student loans through partner institutions Member First Mortgage and Sallie Mae.

Product overview

GESB Sheet Metal Workers Federal Credit Union operates as a traditional credit union offering a comprehensive suite of financial products and services to its members. The core offering consists of share (savings) accounts, draft (checking) accounts, and certificate accounts as the primary deposit products. Loan offerings span consumer lending including vehicle loans, recreational vehicle loans, personal loans, share secured loans, and home equity loans. Through strategic partnerships, the credit union extends its product portfolio to include mortgages via Member First Mortgage and student loans via Sallie Mae. Digital banking is facilitated through Member.Net Home Banking, with access to over 28,000 surcharge-free ATMs through the CO-OP network and instant fund transfers via FedNow. The institution also provides supplementary services such as financial calculators, notary services, wire transfers, and direct deposit capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Share (Savings) Accounts Basic savings accounts requiring a minimum $5 opening deposit, with no service charges for active accounts and quarterly dividend payments. Available to credit union members.
• Draft (Checking) Accounts Free checking accounts with no minimum balance requirement, featuring automatic overdraft protection and EZ Bill Pay for monthly bill payments.
• Certificate Accounts Certificate of deposit accounts with terms ranging from 3 to 36 months and a $1,000 minimum deposit, offering competitive dividend rates that can be compounded monthly, quarterly, or at maturity.
• Club Accounts (Christmas Club, Fund Manager, Vacation Club) Specialized purpose-based savings accounts including Christmas Club (checks issued in November), Fund Manager for flexible savings goals, and Vacation Club for travel planning.
• Vehicle Loans Consumer loans for new and previously owned vehicles including cars, trucks, and SUVs, offered at competitive risk-based rates by credit score tier.
• Recreational Vehicle Loans Loans financing motorcycles, boats, campers, RVs, personal watercraft, snowmobiles, and ATVs/off-road vehicles for member consumers.
• Personal Loans Unsecured personal loans used for various consumer purposes including home improvement, vacations, and other personal financial needs, with rates ranging from 9.00% to 18.00% APY.
• Share Secured Loans Loans secured against the borrower's existing share (savings) account balance, priced 1.50% above the dividend rate of the underlying shares.
• Home Equity Loans Loans secured by home equity used for home improvement and other member financial needs.
• Mortgages (via Member First Mortgage partnership) Mortgage loan programs delivered through Member First Mortgage including conventional, FHA, USDA/RD, and VA loans for purchase (up to 97% LTV) and refinance (over 80% LTV), offering fixed-rate, adjustable-rate, construction financing, and jumbo loan options.
• Student Loans (via Sallie Mae partnership) Student loan products delivered through Sallie Mae Bank including Smart Option Student Loans for undergraduate, graduate, and career training students, featuring competitive rates, multiple repayment options, no origination fees, and no prepayment penalties.

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Member First Mortgage (MFM)coreChannel Partner/ Reseller/ DistributorGESB partners with Member First Mortgage to provide a wide range of mortgage programs to members including conventional and government loans (FHA, USDA/RD, VA), fixed and adjustable rate mortgages, construction financing, and jumbo loans. MFM offers purchase loans up to 97% LTV and refinance options over 80% LTV.
• Sallie MaecoreChannel Partner/ Reseller/ DistributorGESB partners with Sallie Mae to offer student loans for undergraduate, graduate, and career training students. Products include Smart Option Student Loan with competitive rates, multiple repayment options, no origination fees, and no prepayment penalties. GESB receives compensation for referrals of loan customers.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Regional players

• Indiana Members Credit Union (IMCU): Indiana-headquartered community credit union offering a comparable consumer banking and lending product suite to Indiana residents, providing a regional benchmark for deposit/loan pricing and member services.
• Consumers Credit Union: Wisconsin-based credit union with similar scale to GESB and a comparable consumer deposit, vehicle loan, and mortgage product set, useful as a Midwest small/mid-sized credit union comparable.

Direct peers

• Connexus Credit Union: Wisconsin-headquartered credit union serving SEGs, associations and communities with deposits, consumer lending, mortgages and digital banking — overlapping SEG-based credit union model.
• Alliant Credit Union: National SEG-based credit union serving employees of sponsoring organizations and their families with deposit accounts, consumer loans, mortgages and student lending — directly comparable occupational credit union business model.
• Navy Federal Credit Union: Largest occupational credit union in the U.S., serving military and veteran SEGs with a near-identical member-ownership, deposit-and-loan, NCUA-insured operating model — illustrates the scaled potential of the SEG-credit-union archetype GESB operates within.
• Digital Federal Credit Union (DCU): Massachusetts-based federally chartered credit union serving multiple SEGs and associations with a comparable suite of consumer loans, deposits, and member-ownership structure.
• BECU (Boeing Employees Credit Union): One of the largest U.S. occupational/SEG-based credit unions, originally serving Boeing employees and now a community-chartered institution offering the same deposit, consumer loan and mortgage product set as GESB.
• First Tech Federal Credit Union: Oregon-based credit union serving technology and other industry SEGs with consumer loans, mortgages and member-only deposit products — direct analog of an occupational credit union with full-service banking.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/gesb-sheet-metal-workers-federal-credit-union

Revenue estimate

Valuation estimate

Number of profiles

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 GESB Sheet Metal Workers FCU