Midwest Coalition of Labor Credit Union

What Midwest Coalition of Labor Credit Union does

Midwest Coalition of Labor Credit Union (MCLCU), founded in 1974 and headquartered at 6240 Joliet Road in Countryside, Illinois, is a member-owned, not-for-profit financial cooperative chartered and insured under the U.S. National Credit Union Administration (NCUA). The institution serves a tightly defined field of membership comprising union members in good standing of the Midwest Coalition of Labor and Teamsters Local 731, the employees of MCL member unions, and their immediate family members. MCLCU does not serve the general public, and its go-to-market is community-led: member acquisition flows through formal partnerships with the affiliated unions and word-of-mouth within those labor networks, rather than through paid advertising or open-market channels.

MCLCU offers a standard retail-credit-union product set: a loan suite (auto loans for all vehicles, home equity loans, unsecured loans, mortgages, shared secure loans, and loan protection); checking and savings accounts with a $100 minimum opening savings requirement and free checking; a co-branded MCLCU VISA credit card with rates starting at 8.99% APR, plus a Credit Builder Package and Credit Boosting Services; and supporting digital channels including an online banking portal, iOS/Android mobile applications, a credit card self-service portal, and an in-network ATM locator. The underlying technology is described as standard credit union banking infrastructure — core banking platform, mobile apps, ATM network, and credit card processing — with no proprietary or AI-enabled components disclosed. The single physical branch in Countryside, IL operates as the only staffed location, complemented by digital access available 24/7.

The business model is transaction- and interest-based. Revenue is generated primarily through net interest income on the loan portfolio (auto, home equity, mortgage, unsecured, shared secure), interchange and interest income from VISA credit card operations, and ancillary banking fees and service charges on deposit accounts. As a 501(c)-equivalent cooperative, MCLCU is exempt from federal income tax and returns surplus to members in the form of higher deposit rates, lower loan rates, and periodic dividends — most recently a special dividend announced in December 2024. The institution reports 1-10 employees, has not disclosed membership count or financial results, and operates without a parent company, external investors, or any funding rounds.

Name

Midwest Coalition of Labor Credit Union

Legal name

Midwest Coalition of Labor Credit Union

Website

https://culcu.org

Company type

Private

Founded year

1974

Operating status

Operating

Headcount range

1–10 employees

Short description

Midwest Coalition of Labor Credit Union is a member-owned, NCUA-insured not-for-profit cooperative founded in 1974 in Countryside, Illinois. It provides loans, checking/savings accounts, and a VISA credit card exclusively to Midwest Coalition of Labor and Teamsters Local 731 members and their families.

Ownership category

akta.pro rank

Product category

Credit Union Services

NAICS

Credit Unions (522130), Credit Unions (52213)

SIC

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

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

Cooperative Banks (Member-Owned Commercial/Retail) (FSABAEAF)

Keywords

• Credit union services
• Consumer lending
• Member banking
• Union financial services
• Savings accounts

Headquarters

HQ city

Countryside

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: The credit union generates revenue primarily through interest on loans including auto loans, home equity, mortgages, unsecured loans, and shared secure loans offered to members.
2. Credit Card Operations: Revenue generated through VISA credit card transactions and interest charges, with rates starting at 8.99%.
3. Banking Fees and Service Charges: Revenue from banking services including checking and savings account management, with free checking available as a member benefit.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels2 records

Core offering

Midwest Coalition of Labor Credit Union (MCLCU) is a member-owned, not-for-profit financial cooperative that provides lending and retail banking services exclusively to union members in good standing with the Midwest Coalition of Labor and Teamsters Local 731, as well as their immediate family members. It offers a full range of consumer financial products including loans (auto, home equity, unsecured, mortgages, shared secure, and loan protection), checking and savings accounts, and a VISA credit card, supplemented by digital banking channels.

Product overview

Midwest Coalition of Labor Credit Union (MCLCU) is a member-owned, not-for-profit financial organization offering a unified portfolio of financial products and services specifically designed for union members. The core offering consists of loans (auto, home equity, unsecured, mortgages, shared secure, and protection), checking and savings accounts, and credit cards. These are complemented by digital banking services including online banking, a credit card online portal, mobile apps, and an ATM locator. Additional member-focused services include a Credit Builder Package and Credit Boosting Services. The products work together as an integrated financial services ecosystem, with the credit union's mission focused on providing favorable terms for its union members and their families.

Differentiator

Problem solved

Functional benefit

Products and services

• Loans A suite of consumer loan products offered to MCLCU members, including auto loans for all vehicles, home equity loans, unsecured loans, mortgages, shared secure loans, and loan protection services for union members.
• Checking & Savings Accounts
• MCLCU VISA Credit Card
• Credit Builder Package
• Credit Boosting Services

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators2 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• BECU (Boeing Employees Credit Union): One of the largest U.S. employer-affiliated credit unions, originally serving Boeing employees and now open to community membership. Directly comparable in operating model — member-owned cooperative, employer-anchored field of membership, full-service consumer banking.
• First Tech Federal Credit Union: Occupational/employer-affiliated credit union serving employees of technology companies. Comparable to MCLCU's employer/occupational membership model and full suite of consumer lending, deposits, and credit card products.
• Alliant Credit Union: A large U.S. credit union with origins serving labor-union employees (United Airlines) that has since expanded to a broad membership. Highly comparable to MCLCU as a union-anchored credit union offering full-service banking, loans, and credit cards nationwide.
• Michigan State University Federal Credit Union: Occupational credit union originally serving MSU employees and students, now open to broader community. Comparable membership-eligibility framework (occupational/affiliation-based) and full product set including mortgages and credit cards.
• Self-Help Federal Credit Union: Community-development credit union serving working families, with a credit-builder and small-dollar loan focus similar to MCLCU's Credit Builder Package. Mission-aligned and structurally similar in serving lower- and middle-income consumer members.
• UNIFY Financial Credit Union: Credit union formed through the merger of several labor-union-affiliated CUs, serving members of multiple unions across many states. Closely comparable to MCLCU in mission (serving union members), product set, and cooperative tax structure.

Broad incumbents

• Connexus Credit Union: Large national digital-first credit union offering a full suite of consumer lending, deposits, and credit card products. Comparable product mix to MCLCU but competes from a much larger scale and digital-only distribution model.
• Digital Federal Credit Union (DCU): Large technology-employer-anchored credit union with broad community membership, offering consumer loans, mortgages, and credit cards. Overlaps with MCLCU on member segment (working professionals) and product set, but operates at significantly greater scale.

Regional players

• UW Credit Union: Wisconsin-based credit union serving University of Wisconsin employees and broader community. Similar occupational-eligibility heritage and full-service consumer product mix to MCLCU, but operates in a different Midwestern geography.
• Bethpage Federal Credit Union: Long Island-based community credit union offering the same core product set (deposits, consumer loans, mortgages, credit cards) as MCLCU. Comparable in cooperative structure and product breadth, though it serves a different regional market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/MCLCreditUnion
• LinkedInlinkedin.com/company/coalition-of-union-labor-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 Midwest Coalition of Labor Credit Union