IH Credit Union

What IH Credit Union does

IH Credit Union is a state-chartered, member-owned not-for-profit credit union headquartered in Springfield, Ohio, founded in 1934 (originally the International Harvester Employee Credit Union). It serves individuals and small businesses across eight Ohio counties, with membership eligibility extended to Michigan, Illinois, and West Virginia through the American Consumer Council. The product set spans consumer lending (auto, RV, mortgage, HELOC, student), credit cards (Rewards Visa, Classic, Business Classic), deposits (free and interest-bearing checking, savings, money market, IRAs), and small business banking including treasury services and business check capture.

The technology stack is a standard community credit union platform: an online banking portal and a mobile app branded IH Credit Union Mobile, a separate card management app branded IH Access, and a cxplain.ai-powered web chatbot for customer service inquiries. Distribution combines five physical branches, the CO-OP shared branching network, and over 200 Select Employer Group partner companies, with digital channels layering on top.

Revenue is generated primarily through net interest income on the loan portfolio (interest income from lending minus interest expense on deposits), interchange fees on credit and debit card transactions, and service fees on deposit accounts and business banking products. As a not-for-profit cooperative, surplus is returned to members via competitive pricing rather than distributed to shareholders. Pricing on lending varies by member creditworthiness, and growth areas in 2025-2026 include subprime credit forgiveness programs, BNPL vehicle loans, equipment financing, and home equity origination via a digital Home Equity Advantage Tool.

Name

IH Credit Union

Legal name

IH Credit Union, Inc.

Website

https://ihcreditunion.com

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

11–50 employees

Short description

IH Credit Union is a state-chartered, member-owned not-for-profit credit union founded in 1934 in Springfield, Ohio, serving individuals and small businesses across Ohio (8 counties) and select ACC-eligible states with consumer loans, deposits, credit cards, and small business banking.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Deposit accounts
• Mortgage loans
• Credit union services

Headquarters

HQ city

Springfield

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: The primary revenue driver is interest income from the loan portfolio including vehicle loans, mortgages, home equity lines of credit, personal/signature loans, student loans, and business loans. Rates vary by product type and creditworthiness, with competitive rates positioned as a key differentiator versus traditional banks.
2. Service Fees and Charges: Fee-based income from various account services including overdraft fees (up to $30 per overdraft), skip-a-payment fees ($35 per skipped payment), wire transfer fees ($20 per wire), convenience payment processing ($15 per REPAY transaction), business account maintenance fees, and ATM/debit card related services.
3. Credit Card Interchange: Revenue from IH Rewards Visa, IH Classic Visa, and IH Business Classic Credit Card programs. Card rates range from 12.24% to 14.24% APR based on creditworthiness and are variable based on WSJ Prime Rate.

Pricing tiers

Go-to-market motion1 record

Distribution channels8 records

Marketing channels7 records

Core offering

IH Credit Union is a state-chartered, member-owned cooperative financial institution that provides consumer and small business banking services including deposit accounts (checking, savings, money market, IRAs, share certificates), lending products (auto/RV, mortgage, HELOC, personal/signature, student, and business loans), credit cards, merchant services, and digital banking channels to members in Ohio and select adjacent states.

Product overview

IH Credit Union (formerly International Harvester Employee Credit Union, founded 1934) operates as a state-chartered, member-owned not-for-profit credit union serving Ohio residents across eight counties (Clark, Champaign, Greene, Logan, Madison, Miami, Montgomery, Union) and expanded membership through the American Consumer Council. Its product portfolio is organized around five core pillars: Loans (auto/RV, signature/personal, mortgage, HELOC, student, business, equipment, and specialized products like Credit Forgiveness and Buy Now Pay Later promotions), Accounts (checking across multiple tiers including free, interest-bearing, Benefits, and business checking variants; savings including regular, minor, Christmas Club, money market, and IRA products), Credit Cards (IH Rewards Visa, Classic Visa, and Business Classic with a shared credit card management platform via IH Access), Insurance and Business Services (AD&D, TruStage, CyberScout identity protection, employer retirement planning through Cambridge Investment Research, and merchant services via Clover), and Digital Banking (online and mobile banking, remote deposit capture, digital wallet support for Apple Pay and Google Pay, ACH/direct deposit, text banking, and fraud alerts). The credit union also offers convenience services such as Skip-a-Payment, Convenience Payments via REPAY, notary services, and a free Home Equity Advantage property valuation tool. All accounts are insured by American Share Insurance (ASI) with Excess Share Insurance Corporation (ESI) providing additional coverage up to $500,000 total.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto and RV Loans Vehicle financing for new (2023+) and used (2022 and older) cars plus secured loans for motorcycles, boats, campers, and motor homes. Rates start at 5.49% APR for terms up to 84 months. Targeted at individual members purchasing or refinancing vehicles.
• Signature and Personal Loans Unsecured personal loans for debt consolidation, repairs, or other expenses. Rate as low as 10.49% APR for terms up to 36 months. Available to individual members.
• Mortgage Loans Home purchase and refinance loans including fixed-rate mortgages, adjustable-rate mortgages, cash-out refinances, and limited-time promotions. Available to individual members in qualifying geographies.
• Home Equity Line of Credit (HELOC) Reusable line of credit secured by home equity with variable rates, interest-only draw period options, and local underwriting. Introductory rates as low as 4.99% APR. Available to individual members.
• Student Loans Private student loans offered through Credit Union Student Choice to fill funding gaps left by federal aid. Features lower rates, zero origination fees, and flexible repayment. Serviced by University Accounting Service. Available to student members and families.
• Business Lending Commercial lending covering real estate, commercial vehicles, business credit cards (up to $25,000), business lines of credit, and equipment loans. Targeted at small business members.
• Equipment Loans Business loans for equipment purchases with fixed rates of 6.25%-6.50% APR for 5-year terms. Available to small business members.
• Business Lines of Credit Revolving credit lines for businesses; secured based on collateral or unsecured up to $50,000. Rate starting at prime +2%. Available to small business members.
• IH Rewards Visa Credit Card Rewards credit card earning 1 point per $1 spent with double points in first 90 days, redeemable for cash, travel, merchandise, or gift cards. Variable rate as low as 14.24% APR. Available to individual members.
• IH Classic Visa Credit Card Standard Visa credit card with rate as low as 12.24% APR, variable based on WSJ Prime Rate. Lower-cost option than the Rewards card.
• IH Business Classic Credit Card Business Visa credit card with rates as low as 12.24% APR and credit limits up to $25,000. Available to small business members.
• Step Up Free Checking Free checking account with no minimum balance or monthly service fees, free eStatements, and free bill pay. Available to individual members.
• Benefits Checking Premium checking account at $6.95/month bundling cell phone protection, CyberScout identity theft resolution, roadside assistance, $10,000 AD&D insurance, and shopping/travel discounts. Individual members.
• Step Up Free Business Checking Business checking with no monthly service charge and $25 minimum opening deposit. Includes free VISA Business Debit Card, online/mobile banking, bill pay, and eStatements. Targeted at small business members.
• Step Up Business Plus Checking Business checking for members maintaining $5,000+ balance. Includes 1,000 free monthly transaction items, competitive yield, $10 monthly fee, and up to $10,000 free currency deposits per month.
• Regular Share Savings Account Basic membership savings account requiring $5 minimum deposit. Compounded daily, paid monthly dividends. Required for credit union membership.
• Share Certificate Accounts Fixed-rate certificate accounts with terms of 6 to 60 months. Insured by American Share Insurance. Available to individual members with special promotional rates including 7-month at 3.49% APY and 11-month at 3.59% APY.
• Money Market Account Higher-yield savings with $1,000 minimum deposit and tiered rates from 0.60% to 2.79% APY based on balance. Insured by American Share Insurance. Available to individual members.
• Individual Retirement Accounts (IRAs) Traditional, Roth, and Rollover IRAs plus IRA certificates offering tax-advantaged retirement savings with competitive rates. Available to individual members.
• Accidental Death and Dismemberment Insurance AD&D insurance through Minnesota Life Insurance Company. $1,000 complimentary coverage for members age 18+; additional coverage up to $300,000 available at group rates without medical exam.
• Clover Merchant Services All-in-one merchant services platform through Fiserv for restaurant, retail, and service businesses. Includes POS, payment processing, and business management tools integrated with business checking.
• Online and Mobile Banking Web and mobile banking platform (my.ihcreditunion.com, IH Credit Union Mobile app for iOS and Android) enabling account overviews, fund transfers, loan payments, bill pay, remote deposit capture, instant balance, and financial wellness tools available 24/7.
• Home Equity Advantage Tool Digital banking-integrated property valuation and home equity insight tool enabling members to track home value, view available equity, and receive personalized HELOC and refinance offers.
• Employer Retirement Planning Business retirement and group benefits services including 401(k), 403(b), group medical/dental/vision/life/disability, IRAs, defined benefits, profit sharing, and succession planning. Offered through Campbell Financial and Cambridge Investment Research.
• Skip-a-Payment Loan payment deferral service allowing members to skip one monthly payment for a $35 fee. Available twice per year for auto, RV, boat, ATV, and signature loans.
• Credit Forgiveness Program Subprime lending program for members with credit scores of 640 or below. After 12 consecutive on-time payments, members can lower rate by 2% APR or have credit score re-pulled for a new rate.
• Convenience Payments Online payment service via REPAY platform enabling one-time or recurring loan payments by credit card, debit card, or ACH for a $15 service fee. Free ACH recurring option available directly through IHCU.
• Automated Fraud Alerts SMS, phone, and email fraud monitoring for credit and debit cards. Free service for eligible members with no registration required, enabling Y/N response to verify suspicious transactions.
• Digital Wallet (Apple Pay / Google Pay) Mobile contactless payment integration enabling members to add IH Credit Union Visa credit or debit cards to Apple Pay or Google Pay for secure, touchless purchases.
• Direct Deposit Direct deposit service enabling paycheck and government check deposits into checking accounts via employer authorization form.
• Free Notary Service Complimentary notary service available to members at any IH Credit Union branch during regular business hours without appointment.

Quantifiable outcome

• Share savings accounts protected up to $500,000
• +4 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration14 records

AI capability2 records

Partnerships

20 partnerships are on record, tiered core and minor.

• Credit Union Student ChoicecoreStrategic or Co-development PartnerPartnership to offer student loans to help fill funding gaps left by federal aid. Provides members with lower-cost financing options for higher education, zero origination fees, and more flexible repayment options. Loan applications processed through their platform at ihcreditunion.studentchoice.org.
• University Accounting Service (UAS)coreTechnology or IntegrationStudent loan servicer providing 24/7 account access at studentchoiceconnect.com. Handles payment processing and account management for student loans. Payments address: PO Box 5879, Carol Stream, IL 60197-5879.
• REPAYcoreTechnology or IntegrationThird-party payment processing platform for loan payments. Enables one-time and recurring payments via credit card, debit card, or ACH. IHCU members can checkout as guest, enroll, or sign in to manage payments.
• Co-Op Shared BranchescoreChannel Partner/ Reseller/ DistributorShared branching network enabling IHCU members to conduct transactions at other credit union locations nationwide. Provides extended access beyond IHCU's 5 physical locations.
• CULIANCEcoreTechnology or IntegrationATM network locator service for IHCU members to find nearby ATMs. Access through culiance.com/atmlocator with charter number 97104.
• MoneyPass, Alliance One, CU Here, CU24, Cirrus, VISA, Plus SystemcoreTechnology or IntegrationATM network partnerships allowing IHCU cardholders to access funds at thousands of ATMs worldwide. Alliance One specifically accessible at allianceone.coop.
• TruStage InsuranceminorGTM or Marketing PartnerInsurance products offered through TruStage, including AD&D insurance and various coverage options. Link provided at lnkmgr.trustage.com.
• Minnesota Life Insurance CompanyminorGTM or Marketing PartnerUnderwriter for Accidental Death and Dismemberment (AD&D) Insurance offered to IHCU members. Provides $1,000 complimentary coverage for members age 18+, with additional coverage available at group rates up to $300,000.
• CyberScoutcoreTechnology or IntegrationIdentity theft resolution services included with Benefits Checking account. Provides personal advocacy, credit bureau notifications, weekly credit monitoring (TrueCredit/TransUnion), and myFICO Identity Theft Security fraud monitoring.
• American Consumer Council (ACC)coreChannel Partner/ Reseller/ DistributorEnables membership eligibility for Ohio, Michigan, Illinois, or West Virginia residents who don't live/work/worship/go to school in the eight qualifying Ohio counties. Members join ACC to access IHCU services.
• American Consumer Council (ACC)coreChannel Partner/ Reseller/ DistributorDownloadable membership authorization form available for consumers outside the eight-county service area to join IHCU through ACC membership.
• American Consumer Council (ACC)coreChannel Partner/ Reseller/ DistributorACH processing partner for recurring payments from other financial institutions. Free recurring payment option from external accounts.
• Laird's Tax & AccountingminorGTM or Marketing PartnerTax and accounting services partner offering IHCU members $20 off tax preparation. Also offers 50% discount for new clients switching from other firms. Multiple locations including Springfield, Urbana, Piqua, Dayton, and Upper Arlington.
• Clover (Fiserv)coreTechnology or IntegrationAll-in-one merchant services partner through Fiserv offering payment processing tailored to restaurant, retail, and service businesses. Contact through Debra Bowser at IHCU.
• Calland & Campbell InsuranceminorGTM or Marketing PartnerInsurance services partner offering 401(k), 403(b), group benefits (medical, dental, vision, life, disability), IRAs, defined benefits plans, profit sharing, exit/succession planning. Contact: [email protected].
• Cambridge Investment ResearchminorGTM or Marketing PartnerRegistered Investment Adviser providing investment advisory services for retirement planning products offered through IHCU. Securities offered through registered representatives.
• MoneyEDminorGTM or Marketing PartnerPersonal finance education program partner offering members access to financial literacy resources at moneyedcu.org/ihe.
• Trinity Debt ManagementminorGTM or Marketing PartnerDebt management services partner for members seeking credit counseling and debt repayment assistance.
• International Truck and Engine CorporationcoreStrategic or Co-development PartnerOriginal employer of founding members. IHCU originally served employees and retirees of what is now International Truck and Engine Corporation. Access still limited at 6125 Urbana Road location for International Truck employees.
• International Truck and Engine CorporationcoreStrategic or Co-development PartnerCurrent employer affiliation for some IHCU members. ATM access at 6125 Urbana Road limited to International Truck and Engine employees.

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Direct peers

• Kemba Financial Credit Union: Ohio-headquartered credit union with a similar community/employer-eligibility structure and comprehensive consumer and business banking products. Operates in overlapping regional markets and competes directly for IHCU members seeking alternatives.
• Affinity Federal Credit Union: Large community credit union operating a similar hybrid physical-and-digital model with comprehensive consumer and business banking. Comparable member-cooperative governance and deposit insurance structure make it an appropriate structural analogue to IHCU at greater scale.
• Universal 1 Credit Union: Dayton, Ohio-based community credit union with employer-group and community membership, comparable lending and deposit products, and shared-branching participation. Direct overlap with IHCU's southwestern Ohio geography and target customer base.
• Connexus Credit Union: Digital-forward community credit union serving members nationwide through employer groups and community charters, with strong HELOC and consumer lending products. Comparable product breadth and online/mobile-first member experience to IHCU's evolving digital stack.
• Wright-Patt Credit Union: Ohio-based community credit union headquartered in Beavercreek/Dayton, directly overlapping IHCU's Springfield-area footprint and employer-based membership model. Competes for the same consumer and small-business lending and deposit relationships across the Miami Valley region.
• Vantage Financial Credit Union: Ohio-domiciled credit union serving employees of multiple sponsoring companies with a comparable multi-channel product suite (consumer lending, mortgages, business services). Direct competitor in the Dayton/Springfield corridor for both employer-group members and community depositors.

Emerging players

• BCU (Baxter Credit Union): Employer-affiliated credit union with origins similar to IHCU (single-sponsor heritage) that expanded to multi-employer community eligibility. Comparable member-owned cooperative and credit-union-as-employer-benefit positioning, though at significantly larger scale.
• SoFi Technologies: Direct-to-consumer digital bank offering high-yield savings, personal loans, student loan refinancing, and HELOCs — product categories that overlap with IHCU's core offerings. Represents the fintech challenge to credit unions' traditional deposit and personal-loan franchises.

Broad incumbents

• Huntington Bancshares: Large Ohio-headquartered regional bank that competes with IHCU across consumer deposits, mortgages, and small-business banking across the Columbus-Dayton-Cleveland corridor. Represents the primary incumbent threat in IHCU's core market.
• Fifth Third Bank: Major Ohio-based regional bank with comprehensive consumer, mortgage, and small-business banking offerings across the same Ohio counties IHCU serves. Sets the competitive benchmark for loan pricing and digital capabilities in IHCU's territory.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/IH-Credit-Union-1837245746507303

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 IH Credit Union