Picatinny Federal Credit Union

What Picatinny Federal Credit Union does

Picatinny Federal Credit Union (PFCU) is a member-owned, not-for-profit financial cooperative headquartered in Dover, New Jersey, serving approximately 19,000 members across Morris, Essex, Somerset, and Union counties in New Jersey through five branch locations. Founded in 1939 as the Picatinny Arsenal Employees Federal Credit Union and renamed in 1977, the institution operates under a federally chartered credit union structure with NCUA-insured deposits up to $250,000, governed by a volunteer board of directors and a supervisory committee.

The credit union's product portfolio spans deposit products (basic checking, Break Through Checking for ages 16–25, savings, money market, share certificates, IRAs, youth/teen accounts) and a full lending suite including new and used auto loans, fixed-rate mortgages, a $999 Flat Fee Mortgage Program, a 100% First Mortgage Program, HELOCs, personal loans, debt consolidation loans, share-secured loans, short-term loans, unsecured lines of credit, and a Premium Rewards Visa credit card. The technology stack is built on a Fiserv-powered mobile banking platform with iOS and Android apps, integrated Zelle payments, Yodlee-powered Personal Finance Management, Quicken/QuickBooks integration, Credit Sense credit monitoring, mobile check deposit, and upgraded Cards/PFCU Protect card controls. A major digital platform upgrade is scheduled for July–August 2026.

Revenue is generated primarily through net interest income on the lending portfolio (spreads on deposits funded loans), supplemented by transaction and service fees (ATM, wire, overdraft), and partnership referral revenue from Allpoint ATMs, Cetera/Lifelong Investments, HomeAdvantage real estate services, and TruStage/Franklin Madison/Family Security Plan insurance products. Distribution combines a five-branch physical network in Morris County with full-service online and mobile self-service channels, a relationship-based Relationship Rewards loyalty program, and a refer-a-friend program paying $75 to referrers and $250 to new checking members.

Name

Picatinny Federal Credit Union

Legal name

Picatinny Federal Credit Union

Website

https://picacreditunion.com

Company type

Private

Founded year

1939

Operating status

Operating

Headcount range

101–250 employees

Short description

Picatinny Federal Credit Union is a member-owned, not-for-profit credit union serving 19,000+ members across four New Jersey counties through five branches, offering checking, savings, auto loans, mortgages, HELOCs, and credit cards with NCUA-insured deposits.

Ownership category

akta.pro rank

Product category

Credit Union / Retail Banking

NAICS

Credit Unions (52213), Depository Credit Intermediation (5221)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

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

Keywords

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

Headquarters

HQ city

Dover

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, Others

Revenue model

1. Interest Income from Lending: As a not-for-profit credit union, the primary revenue stream comes from interest earned on loan products including mortgages, auto loans, personal loans, HELOCs, and credit cards. Interest rates are passed along to members in the form of lower rates compared to traditional banks.
2. Fee-based Services: Various service fees including ATM fees (for non-network transactions), wire transfer fees, overdraft fees, account maintenance fees, and loan-related fees such as subordination requests and mortgage discharge fees.
3. Deposit Account Services: Share accounts, money market accounts, and share certificates where members deposit funds. The credit union uses these deposits to fund loans and generates spread income.
4. Insurance Products: Partnership-based insurance offerings through TruStage, Franklin Madison, and The Family Security Plan including accidental death coverage, hospital accident plans, recuperative care, auto/home insurance, life insurance, debt protection, GAP, and mechanical breakdown protection.
5. Financial Planning Services: Partnership with Lifelong Investments and Cetera Investment Advisers LLC provides financial planning and investment management services to members, generating referral/partnership revenue.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

Picatinny Federal Credit Union is a member-owned, not-for-profit financial cooperative that provides consumer banking products and services including deposit accounts (checking, savings, money market, share certificates, IRAs), consumer loans (auto, personal, debt consolidation, share-secured, short-term), residential mortgages, HELOCs, and a Visa rewards credit card. Complementary offerings include youth/teen accounts, financial planning through a Cetera-affiliated partner, insurance products via third-party providers, and the HomeAdvantage real estate program. Members access these products through five New Jersey branches, a mobile app, online banking, and a 55,000+ ATM network.

Product overview

Picatinny Federal Credit Union is a not-for-profit, member-owned financial institution offering a comprehensive suite of banking products and services. The core product portfolio centers on deposit accounts (Checking, Savings, Money Market, Share Certificates, IRAs) and lending products (Auto Loans, Mortgages, HELOCs, Personal Loans, Credit Cards). Supporting offerings include Mobile Banking App, Youth/Teen Accounts, Financial Planning through Cetera, and Insurance products through multiple providers. The institution differentiates through relationship-based pricing via its Relationship Rewards program, the Flat Fee Mortgage Program, and HomeAdvantage for real estate services. Members also access CarMatch for vehicle shopping and benefit from Allpoint Network ATM access. The credit union serves individuals in Morris, Somerset, Union, and Essex counties in New Jersey through five branch locations.

Differentiator

Problem solved

Functional benefit

Products and services

• PFCU Mobile Banking App Downloadable mobile banking application for iOS and Android providing members with on-the-go account access, mobile check deposit (up to $5,000 per check / per day), transfers, bill pay, credit monitoring via Credit Sense, and card management tools.
• Basic Checking Account Free consumer checking account with no minimum balance, no hidden fees, $250 cash reward for setting up direct deposit, Visa Zero Liability protection, Zelle P2P payments, and nationwide ATM access.
• Break Through Checking Checking account designed for ages 16-25 offering up to $50 in matching funds, 10 free out-of-network ATM transactions per month, and two annual overdraft fee waivers (up to $70 in savings).
• Savings Account (Share Account) Basic savings account functioning as the member's share in the credit union, with a $5 minimum opening deposit and competitive APY rate.
• Money Market Account Interest-earning account with higher rates than basic savings and flexibility to withdraw funds when needed; $1,000 minimum balance with tiered APY up to 0.35%.
• Share Certificates Term-deposit certificates with flexible terms from 6 to 60 months, $500 minimum balance, and APY rates from 3.50% (6-month) to 3.66% (18-month).
• IRA Accounts (Traditional, Roth, Educational) Individual retirement accounts including Traditional IRA, Roth IRA, and Educational IRA for tax-advantaged retirement and education savings.
• Youth Savings Account Savings account designed for children ages 0-13, offering up to $50 cash reward for first deposit with required parental or guardian co-ownership.
• Teen Savings and Checking Accounts Banking accounts for teenagers ages 14-18, including teen savings with ATM-only debit card option and joint savings or checking accounts for ages 16-18.
• Premium Rewards Visa Credit Card Visa-branded consumer credit card with competitive rates, uChoose Rewards points (20,000 bonus points after $1,000 spend in first 60 days, double points on every purchase), 0% APR on purchases and balance transfers for the first 12 months, no annual fee, Visa Zero Liability, and Verified by Visa protections.
• Auto Loans Vehicle financing for new and used cars, motorcycles, boats, and RVs, with rates as low as 4.99% APR, terms up to 96 months, and up to 100% financing of purchase price including sales tax.
• Mortgages Residential home loans including Fixed Rate and Adjustable Rate Mortgages, with loan amounts from $50,000 to $1,209,750, terms up to 30 years, and the Flat Fee Mortgage Program priced at $999 covering application, credit report, flood certification, and appraisal.
• Home Equity Line of Credit (HELOC) Revolving credit line secured by home equity, used for debt consolidation, tuition, or home remodeling; introductory rate of 3.99% APR for first 6 months, borrowing range $20,000-$350,000, 15-year draw period, up to 80% LTV/CLTV.
• Personal Loans Unsecured personal loans up to $25,000 for consolidating debt, large purchases, or unexpected expenses with terms up to 72 months and APRs starting at 8.99%.
• Debt Consolidation Loan Unsecured loan for consolidating high-interest credit card or unsecured debt into one manageable payment, up to $40,000 with terms up to 120 months.
• Financial Planning and Investments Personalized financial planning and customized investment management services delivered through a partnership with Lifelong Investments and Cetera Investment Advisers LLC, offered to all PFCU members with a complimentary consultation call.
• Insurance Products Insurance offerings distributed through partnerships with TruStage Insurance, Franklin Madison, and The Family Security Plan, including accidental death coverage, hospital accident plans, recuperative care, life insurance, auto/home insurance, debt protection, GAP, and mechanical breakdown protection.

Quantifiable outcome

• Average $1,900 in cash rewards at closing through HomeAdvantage program
• +3 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration7 records

Feature8 records

Partnerships

Eleven partnerships are on record, tiered minor and core.

• Interfaith Food PantryminorStrategic or Co-development Partner · 1 January 1939PFCU supports the Interfaith Food Pantry in Morris Plains through donations and employee volunteerism. The partnership helps provide food options and nutritional education to Morris County residents in need. PFCU coordinates fundraising events and contributes to the organization's mission of improving health and well-being of community members struggling with hunger and food insecurity.
• Eleventh Hour RescueminorStrategic or Co-development Partner · 1 January 1939Eleventh Hour Rescue is an all-volunteer organization that saves animals through transportation from shelters across the country to housing and medical care. PFCU employees have demonstrated passion for animal welfare, with many having rescued pets from EHR. The partnership provides support through donations and spreading awareness of animal welfare efforts.
• Warrior StrongminorStrategic or Co-development Partner · 1 January 1939Warrior Strong is a local 501(c)(3) nonprofit that offers free fitness classes to veterans, veteran family members, and first responders including yoga, boot camp, and breath work. PFCU is proud to support the military community through donations and spreading awareness. The partnership reflects PFCU's commitment to the veteran community connected to Picatinny Arsenal.
• Lifelong Investments / Cetera Investment Advisers LLCcoreStrategic or Co-development PartnerPFCU has collaborated with Lifelong Investments to provide financial planning services through Cetera Investment Advisers LLC. Services include personalized financial planning to help grow, protect, and distribute wealth, as well as customized investment management strategies. The Lifelong Investments financial planning package is offered to all PFCU members with a complimentary call to discuss financial planning and investment journey. Securities offered through Cetera Advisors LLC, Member FINRA/SIPC.
• HomeAdvantagecoreTechnology or IntegrationPFCU has partnered with HomeAdvantage to offer members online tools for home buying. Members can search for homes, research neighborhoods, find local expert real estate agents, and earn cash rewards at closing (average $1,900). The program simplifies the home buying journey through picacreditunion.myhomeadvantage.com platform.
• Allpoint NetworkcoreTechnology or IntegrationPFCU partners with Allpoint Network to provide members access to more than 55,000 surcharge-free ATMs worldwide. Members can find Allpoint ATMs at select locations of major retailers including Target, Costco, Walgreens, CVS, and Shop-Rite. The Allpoint mobile app helps members locate nearby ATMs.
• TruStage InsuranceminorChannel Partner/ Reseller/ DistributorTruStage Insurance offers budget-friendly insurance options including life insurance, AD&D, auto insurance, and home insurance. Available through TruStage Insurance Agency, LLC. Products include life and AD&D insurance issued by CMFG Life Insurance Company, and auto/home insurance through leading insurance companies.
• Franklin MadisonminorChannel Partner/ Reseller/ DistributorFranklin Madison provides insurance products including Accidental Death coverage (with $1,000 paid for members age 18+ and up to $300,000 optional coverage), Hospital Accident Plan, and Recuperative Care with cash benefits for covered accidents or sickness including pre-existing conditions.
• The Family Security PlanminorChannel Partner/ Reseller/ DistributorThe Family Security Plan offers PFCU members affordable, flexible life insurance options. The program provides members with exclusive benefits and coverage to protect families from unexpected events like accidents, injuries, illness, and other disruptions.
• VisacoreTechnology or IntegrationPFCU issues Visa-branded debit and credit cards including the Premium Rewards Visa Credit Card. Cards include Visa's Zero Liability Policy protecting members from fraudulent charges, and Verified by Visa providing extra layer of protection for online purchases at participating merchants.
• FiservcoreTechnology or IntegrationPFCU Mobile Banking App is powered by Fiserv. The platform enables real-time balances, money management, transaction viewing, transfers, bill pay, check deposits, alerts, and card management through the mobile application.

Scale indicators6 records

Recent moves13 records

Expansion highlights5 records

Direct peers

• Affinity Federal Credit Union: New Jersey-based community credit union serving consumer and small-business members across multiple counties with a similar full-suite deposit and lending model; direct in-market competitor for PFCU's four-county footprint.
• Bethpage Federal Credit Union: Long-standing community credit union with military/labor-union heritage similar to PFCU's Picatinny Arsenal origins; comparable full-service consumer banking model with a member-owned, not-for-profit structure.
• Garden Savings Federal Credit Union: Newark-headquartered community credit union serving northern New Jersey with similar consumer deposit and loan products; direct competitor for members living or working in PFCU's service counties.
• North Jersey Federal Credit Union: Community-chartered credit union serving northern New Jersey with comparable checking, savings, lending, and digital banking products; overlaps with PFCU's Morris/Essex county field of membership.
• First Atlantic Federal Credit Union: Community credit union operating in northern/central New Jersey offering consumer deposit accounts and a comparable range of mortgage, auto, and personal loan products to overlapping membership geographies.

Broad incumbents

• Pentagon Federal Credit Union (PenFed): Large federally chartered credit union with military-affiliated field of membership; while much larger and national in scope, its military-community DNA parallels PFCU's Picatinny Arsenal heritage, and it competes for defense-community members.
• Digital Federal Credit Union (DCU): Large digital-forward credit union offering consumer banking, lending, and digital tools comparable to PFCU's suite; representative large-institution benchmark for technology investment and product breadth.
• Connexus Credit Union: Large national credit union with strong digital banking and consumer lending franchise; comparable product suite (checking, mortgages, auto, HELOC, rewards cards) but at materially larger scale than PFCU.
• Alliant Credit Union: Large digital-first credit union with national membership including New Jersey; competes with PFCU on online deposits, lending rates, and digital experience while operating at vastly greater scale.
• America First Credit Union: Large community-focused credit union with full consumer banking and lending product set, comparable member-owned structure, and a track record of growth through branch expansion and digital investment.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/picacreditunion
• LinkedInlinkedin.com/company/picatinny-federal-credit-union
• Instagraminstagram.com/picacreditunion
• Xx.com/picacreditunion

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Picatinny Federal Credit Union