Name

Serve Credit Union

Legal name

Serve Credit Union

Website

https://servecu.org

Company type

Private

Founded year

1931

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130), Credit Card Issuing (522210)

SIC

National Commercial Banks (6021), Personal Credit Institutions (6141)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industries

Public Sector & Municipal Credit Unions (FSABAEAK), Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Retail banking services
• Consumer lending products
• Credit union services
• Deposit account products
• Home mortgage lending

Headquarters

HQ city

Des Moines

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income on Loans: Primary revenue stream from interest charged on loan products including vehicle loans, credit cards, mortgages, home equity, personal loans, and recreational vehicle loans. Rates vary by product type and creditworthiness.
2. Fee Income: Various fees including overdraft/NSF fees ($25), wire transfer fees ($10-40), safe deposit box rental ($36-72 annually), debit/credit card replacement ($7), stop payment fees ($25), and account research fees ($30/hour).
3. Service Charges: Fees for account services including counter checks ($2/sheet), statement copies ($5), research ($30/hour), inactive account fees ($5/month after 2 years), and shared branch withdrawals ($1.50 after 6 free/month).
4. Credit Card Transaction Fees: Foreign transaction fees (1% of foreign currency transactions), cash advance fees ($5 each), late payment fees (up to $10), and returned payment fees (up to $20).

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels8 records

Core offering

Serve Credit Union is a not-for-profit, member-owned financial cooperative founded in 1931 by Des Moines Police Officers. It provides deposit products (checking, savings, money market, CDs, IRAs), lending products (vehicle, RV, mortgage, home equity, personal, student, and credit card loans), digital banking services, and financial wellness programs to eligible Iowa residents in public safety, government, education, and healthcare occupations.

Product overview

Serve Credit Union operates as a closed field-of-membership credit union serving Iowa residents who meet eligibility requirements (public safety employees, government workers, educators, healthcare workers, and their families). The organization offers a unified banking platform combining core deposit products (checking, savings, money market, CDs, IRAs) with comprehensive lending services (credit cards, vehicle loans, recreational vehicle loans, mortgages, home equity, personal loans, student loans). Digital banking is delivered through an integrated platform consisting of Online Banking, Mobile App, and Cards App providing 24/7 account access, bill pay, remote deposit capture, and card management. Additional services include investment and trust management via First Community Trust partnership, insurance products through TruStage and FCT Insurance, and youth financial literacy programs including the Blue Shoe Box subscription box and Membership Academy. The credit union also provides shared branching network access, wire transfers, safe deposit boxes, notary services, and coin counting.

Differentiator

Problem solved

Functional benefit

Brands

• Blue Shoe Box: Free annual Financial Literacy subscription boxes for youth members ages 0-17, inspired by the credit union's founding story of being run out of a shoe box.
• Membership Academy
• BSB Financial Coach Program
• Youth Mini CDs
• Imagine Loans

Products and services

• Checking Account (Share Draft) No-fee checking account with no monthly fees, no per-check fees, no per-transaction fees, and no minimum balance requirement. Includes contactless debit card, overdraft protection options, direct deposit, and bill pay capabilities for Serve Credit Union members.
• Primary Share Savings Basic savings account opened with $25 initial deposit representing member ownership in the credit union. Required for membership and available throughout the life of membership.
• Secondary Savings Additional savings sub-accounts for customizing, organizing, and budgeting. No minimum balance required, unlimited accounts per membership, with customizable nicknames.
• Money Market Account Higher-yield savings account with $2,500 minimum deposit requirement, no time limit for funds to earn dividends, and $500 minimum withdrawal via check, cash, or online membership.
• Holiday Club Account Secured savings sub-account designed for holiday saving. Funds remain locked throughout the year and transfer to the designated account around October 15th for holiday shopping.
• Certificate of Deposit Investment CDs with competitive rates and terms ranging from 6 to 60 months. $1,000 minimum balance required. Funds must remain untouched for chosen term to avoid early withdrawal penalty.
• Individual Retirement Account (IRA) Retirement savings accounts including Traditional IRA, Roth IRA, and Coverdell/Education Savings Accounts (ESAs) for members.
• Youth Mini Certificate of Deposit Certificate of Deposit designed for youth members ages 17 and under, with $250 minimum balance for 12 or 24 month terms.
• Mastercard Classic Credit Card Credit card with no annual fees and competitive rates. Includes quarterly FICO credit score access, mobile card management, and digital wallet compatibility.
• Cash-Back Rewards Mastercard Rewards credit card earning 1.5% cash back in the form of statement credit. No annual or balance transfer fees with competitive rates and full card management features.
• Vehicle Loans Auto loans for new and used vehicles including motorcycles, with terms up to 84 months. Includes optional GAP coverage, Debt Protection, and Mechanical Breakdown Protection add-ons.
• Recreational Vehicle Loans Loans for recreational vehicles including boats, RVs, campers, motor homes, travel trailers, ATVs, 4-wheelers, and side-by-side vehicles. Terms range from 36 to 180 months.
• Personal Equipment Loans Loans for personal equipment such as lawnmowers and skid loaders. Rates and terms follow recreational vehicle loan pricing.
• Mortgages First mortgage loans including purchase and refinance options: FHA (gift funds allowed), Conventional, VA (no down payment), Manufactured homes, USDA 100% financing, first-time homebuyer programs, and jumbo financing. Escrow services included.
• Home Equity Loans Fixed-term home equity loans up to 100% loan-to-value in first lien position, terms 60 to 240 months. Includes Home Equity Plus Line of Credit with variable rates tied to WSJ Prime Rate (up to 90% LTV, 4% minimum floor, 18% maximum).
• Imagine Loans Personal unsecured signature loans for any purpose with maximum loan amount of $25,000. Terms range from 12 to 60 months with fixed rates.
• Student Loans Line-of-credit student loans offered through Student Choice partnership to fill funding gaps after exhausting lower-cost aid and scholarships. Also includes student refinance options for consolidating private and federal student loans.
• Online Banking Comprehensive digital banking platform providing 24/7 account access, transfers between Serve CU and external accounts, balance monitoring, transaction history, eStatement access, and first-time enrollment with multi-factor authentication support.
• Serve Credit Union Mobile App Mobile banking application providing 24/7 account access, push notifications, secure messaging, account transfers, and full integration with all digital banking features.
• Serve CU Cards App Dedicated card control application for debit and credit cards featuring lock/unlock functionality, transaction notifications, travel notification setup, lost/stolen reporting, and digital card issuance for immediate wallet loading.
• Bill Pay Online bill payment service allowing one-time or recurring payments up to one year in advance. Includes e-Alerts for bill due dates and daily limits of $6,000 for business payees and $2,500 for personal payees.
• Remote Deposit Capture (RDC)

Quantifiable outcome

• Auto loan rates as low as 4.04% APR
• +3 more outcomes

Named customers11 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration9 records

Feature5 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• First Community Trust (FCT)coreStrategic or Co-development PartnerServe Credit Union partners with First Community Trust to provide wealth management, trust services, and investment products to members. Services include investment management, 401k and IRA rollovers, living/revocable trusts, retirement and estate planning consultations, and estate administration. Kristin Evans serves as Wealth Advisor and Trust Officer.
• FCT InsurancecoreStrategic or Co-development PartnerFCT Insurance partnership provides members with insurance and protection solutions including Medicare, life and disability insurance, annuities, and long-term care coverage. Works in conjunction with FCT wealth advisors to ensure integrated financial planning.
• TruStage InsurancecoreChannel Partner/ Reseller/ DistributorExclusive insurance benefits for Serve CU members including complimentary $2,000 AD&D coverage for members. Discounted rates on life, auto, and property insurance through TruStage. Serves as channel for distributing insurance products to credit union members.
• CO-OP Shared BranchcoreChannel Partner/ Reseller/ DistributorPartnership provides Serve CU members access to 5,100+ credit union branches nationwide for deposits, withdrawals, loan payments, and balance inquiries. Members can use any CO-OP Shared Branch location with valid government photo ID and member number.
• Student ChoiceminorChannel Partner/ Reseller/ DistributorStudent Choice offers unique line-of-credit student loans to help members fill funding gaps for college. Also provides student loan refinance options to consolidate private and federal student loans into one manageable payment.
• Premier Lending Alliance (Jason Beard)coreChannel Partner/ Reseller/ DistributorServe CU partners with Premier Lending Alliance mortgage specialist Jason Beard (NMLS #8509) for mortgage origination services including FHA, conventional, VA, USDA, manufactured homes, and first-time homebuyer programs. [email protected] or (515) 867-2710.
• AdventurelandminorGTM or Marketing PartnerServe CU members receive discounted Adventureland Park tickets ($37.99 vs. regular pricing) and Gold Season Passes ($149.99). Marketing partnership provides member benefit while supporting Credit Union Political Action Committee (CUPAC).

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• GreenState Credit Union: Iowa-headquartered credit union with broad community field-of-membership and similar consumer banking, mortgage, and wealth offerings. Most directly comparable Iowa-based competitor for member share-of-wallet.
• University of Iowa Community Credit Union (UICCU): Iowa-based community credit union offering similar deposit, lending, and digital banking products. Competes for overlapping Iowa consumer and educator/government employee segments.
• SchoolsFirst Federal Credit Union: Occupational credit union serving educators and school employees with closed field-of-membership structure analogous to Serve's education segment, providing a benchmark for occupation-based CU economics and product design.
• Veridian Credit Union: Iowa-based credit union offering comparable checking, savings, lending, and digital banking services. Closely matched in field-of-membership breadth and product set.
• Community Choice Credit Union: Iowa credit union serving consumer and select employer groups with a comparable product mix including vehicle loans, mortgages, and digital banking.

Broad incumbents

• Wells Fargo: National bank with significant Iowa branch presence competing for the same government, educator, and healthcare employee households with broader product portfolios and rate scale.
• Alliant Credit Union: Large national digital-first credit union serving broad consumer/employer/association groups. Competes for share-of-wallet even though outside Iowa geography.

Regional players

• Ascentra Credit Union: Iowa and Quad Cities-based credit union with similar consumer lending, mortgages, and shared branching. Geographic overlap in eastern Iowa.
• Bankers Trust: Iowa-based commercial bank with consumer banking and lending operations. Competes for Iowa consumer deposits and loans though structured as a bank rather than credit union cooperative.

Emerging players

• Polk County Sheriff's Office Credit Union: Smaller occupational credit union historically serving similar public-safety cohorts in the Des Moines/Polk County area, representing direct overlap in the law-enforcement membership segment.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ServeCU
• Xx.com/Serve_CU

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Serve Credit Union