Mercy Credit Union
Mercy Credit Union is a member-owned, non-profit credit union founded in 1975, serving Mercy Health System co-workers, volunteers, affiliates, and their families through 6 branches and a standard deposit, lending, and digital banking product suite.
- Company typePrivate
- Founded1975
- HeadquartersSpringfield, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Mercy Credit Union does
Mercy Credit Union, transitioning to Multi-States Credit Union, is a member-owned, non-profit financial cooperative founded in 1975 by the employees of St. John's hospital and headquartered in Springfield, United States. It serves Mercy Health System co-workers, volunteers, affiliates, and their families under a defined field-of-membership, operating 6 branch locations and channeling access through Co-op Credit Unions shared branch and ATM network. The institution is federally insured by the NCUA and holds Equal Housing Lender designation.
The product portfolio is a standard credit union suite: deposit products (checking, savings, certificates of deposit, KASASA Cash Back rewards checking), lending products (personal loans, auto loans, mortgages, home equity lines of credit, credit cards), and ancillary services (bill pay via Allied Payment, Cars for Sale marketplace with NADA Guides valuations, EZCard credit card management). Technology is built on commodity credit union infrastructure — an AMI MemberNet account portal, MNOLB online loan origination platform, and online/mobile banking — with no proprietary technology stack or AI/ML capabilities disclosed.
The revenue model is a transaction-fee and net-interest-margin credit union model: interest income from lending (personal, auto, mortgage, HELOC) funded by member deposits, supplemented by interchange and fee income. As a non-profit cooperative, all net earnings are redistributed to members through dividends, favorable loan rates, and reduced-cost services rather than returned to outside shareholders.
Mercy Credit Union firmographics
Firmographics- Name
- Mercy Credit Union
- Legal name
- Mercy Credit Union
- Website
- https://mymercycu.com
- Company type
- Private
- Founded year
- 1975
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Mercy Credit Union is a member-owned, non-profit credit union founded in 1975, serving Mercy Health System co-workers, volunteers, affiliates, and their families through 6 branches and a standard deposit, lending, and digital banking product suite.
- Ownership category
- akta.pro rank
Mercy Credit Union industry classification
Industry- Product category
- Retail Banking / Credit Union Services
- NAICS
- Credit Unions (52213)
- SIC
- Savings Institution, Federally Chartered (6035)
- akta.pro primary industry
- Employer/Occupational Credit Unions (FSABAEAB)
- akta.pro secondary industry
- Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)
Keywords
Where Mercy Credit Union is headquartered
LocationHeadquarters
- HQ city
- Springfield
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Mercy Credit Union business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Interest Income from Lending: The credit union generates revenue primarily through interest income on loans including personal loans, mortgages, home equity lines of credit, and auto loans. All net earnings are distributed back to members in the form of dividends, favorable loan rates, and low or no-cost services.
- Deposit Taking and Savings Products: Accepts member deposits including checking accounts, savings accounts, and certificates of deposit (CDs). These deposits fund the lending operations.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Monthly | KASASA Cash Back Checking |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels5 records
Mercy Credit Union product offering
Product offeringCore offering
Mercy Credit Union is a member-owned, nonprofit financial cooperative offering deposit products (checking, savings, certificates of deposit), lending products (personal loans, auto loans, mortgages, HELOCs), credit and debit cards, and digital banking services. Products are delivered to Mercy Health System co-workers, volunteers, affiliates, and their families through 6 branch locations, online and mobile banking, the Co-op shared branch and ATM network, and dedicated bill pay and loan origination platforms.
Product overview
Mercy Credit Union (transitioning to Multi-States Credit Union) offers a comprehensive suite of traditional banking products and services centered around its core credit union model. The product portfolio centers on deposit products (checking, savings, CDs), lending services (personal loans, auto loans, mortgages, HELOCs, credit cards), and digital banking capabilities. Key products include KASASA Cash Back checking rewards program, a dedicated Mortgage Center for home lending, and a Cars for Sale marketplace. All products are designed for Mercy Health System employees, volunteers, affiliates, and their families, with services delivered through 6 branch locations, shared branching networks, and online/mobile banking platforms.
Differentiator
Problem solved
Functional benefit
Products and services
- Checking Accounts Standard checking account services for members, accessible via online and mobile banking channels.
- KASASA Cash Back Checking Free rewards checking account offering cash back on debit card purchases through the KASASA program.
- Savings Accounts Savings accounts that pay member dividends and offer competitive rates.
- Certificates of Deposit (CDs) Term savings products with competitive interest rates for member deposits.
- Credit and Debit Cards Credit and debit card products for members, with account management via the EZCardInfo portal.
- Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity that provides flexible borrowing for members.
- Mortgages Mortgage lending services and home loan products delivered through a dedicated Mortgage Center portal.
- Personal and Auto Loans Personal loans, auto loans, and credit-building loans available to members via online application through the MNOLB loan origination platform.
- Online and Mobile Banking Digital banking platform providing account access, bill pay, and fund management for members.
Companies that use Mercy Credit Union
Customer profileNamed customers1 record
Segments1 record
Ideal customer profiles1 record
Mercy Credit Union technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration11 records
Mercy Credit Union partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered core and minor.
- Co-op Credit UnionscoreMulti-States Credit Union participates in the Co-op Credit Unions shared branch and ATM network, providing members with access to thousands of shared branches and surcharge-free ATMs nationwide. This partnership extends the credit union's physical service footprint significantly.
- TurboTax (Intuit)minorCredit union promotes TurboTax tax preparation software to members through advertising on the website, offering savings on tax preparation services.
Scale indicators2 records
Recent moves6 records
Expansion highlights5 records
Mercy Credit Union competitors and assessment
Company assessmentDirect peers
- BECU (Boeing Employees Credit Union): Originally founded for Boeing employees, BECU is the archetype of an employer/occupational credit union that has expanded community membership. Highly comparable in mission, structure, and product breadth.
- Alliant Credit Union: Open-membership credit union that grew from serving multiple employee groups. Comparable as a member-owned cooperative offering a similar consumer product suite including mortgages, auto loans, and credit cards.
- MIT Federal Credit Union: Employer/occupational credit union serving the MIT community. Directly comparable in field-of-membership structure, member-owned cooperative model, and consumer banking product mix.
- SchoolsFirst Federal Credit Union: Large employer/occupational credit union serving California school employees and their families. Closely comparable to Mercy Credit Union's employer-affinity member model, multi-branch footprint, and member-owned value proposition.
- Digital Federal Credit Union (DCU): Originally founded for employees of a single technology firm (DEC) and later expanded to a broad community field of membership. Comparable transition trajectory from single-employer to multi-state cooperative.
- First Tech Federal Credit Union: Serves employees of technology firms and their families — a textbook employer/occupational credit union. Comparable in field-of-membership structure, member benefits, and digital banking emphasis.
- Hanscom Federal Credit Union: Serves military and civilian employees of the Department of Defense at Hanscom AFB. Comparable employer-affinity credit union model with shared branching and a member-centric value proposition.
Broad incumbents
- Suncoast Credit Union: Florida-based credit union that historically served education employees and has expanded to a community charter. Comparable member-owned model, full-service retail banking, and employer-driven origin story.
- Bethpage Federal Credit Union: Long Island-based federal credit union offering full-service retail banking to a defined community/employee field of membership. Comparable scale, geographic concentration, and product breadth as Mercy Credit Union.
- VyStar Credit Union: Florida-based community credit union with strong mortgage and consumer lending franchises. Comparable full-service retail product suite, multi-branch distribution, and member-owned value proposition, though at materially larger scale.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Mercy Credit Union social profiles
Digital presenceMercy Credit Union compliance and trust
Trust signalCompliance2 records
Mercy Credit Union financial estimates
Financial estimateRevenue estimate
Valuation estimate
Mercy Credit Union leadership team
Management profileNumber of profiles
Mercy Credit Union funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Mercy Credit Union M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Mercy Credit Union
What does Mercy Credit Union do?
Mercy Credit Union is a member-owned, nonprofit financial cooperative offering deposit products (checking, savings, certificates of deposit), lending products (personal loans, auto loans, mortgages, HELOCs), credit and debit cards, and digital banking services. Products are delivered to Mercy Health System co-workers, volunteers, affiliates, and their families through 6 branch locations, online and mobile banking, the Co-op shared branch and ATM network, and dedicated bill pay and loan origination platforms.
Is Mercy Credit Union a public or private company?
Mercy Credit Union is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Mercy Credit Union founded?
Mercy Credit Union was founded in 1975. It employs 11 to 50 people.
Where is Mercy Credit Union based?
Mercy Credit Union is headquartered in Springfield, United States, in the North America region.
How does Mercy Credit Union make money?
Two revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Taking and Savings Products.
Who are Mercy Credit Union's main competitors?
Direct peers on record are BECU (Boeing Employees Credit Union), Alliant Credit Union, MIT Federal Credit Union, SchoolsFirst Federal Credit Union, Digital Federal Credit Union (DCU), First Tech Federal Credit Union and Hanscom Federal Credit Union. Broad incumbents are Suncoast Credit Union, Bethpage Federal Credit Union and VyStar Credit Union.
Does Mercy Credit Union have an API?
No public API is recorded for Mercy Credit Union.
What industry is Mercy Credit Union in?
Mercy Credit Union's product category is Retail Banking / Credit Union Services. Its primary akta.pro industry code is FSABAEAB, Employer/Occupational Credit Unions, with a secondary code of FSABAEAA, Community Credit Unions (Retail/Consumer Focus). Its NAICS code is 52213 and its SIC code is 6035.