Fargo Public Schools Federal Credit Union

What Fargo Public Schools Federal Credit Union does

Fargo Public Schools Federal Credit Union (FPSFCU) is a federally chartered, not-for-profit, member-owned financial cooperative founded on November 10, 1934 by 10 educators who deposited an initial $10,000 — the first credit union in North Dakota and the 47th in the United States. Its field of membership is restricted to current and retired employees of Fargo Public Schools, school board members, and their immediate family members, giving it a tightly defined, vertical customer base of approximately 2,349 members as of 2026. The institution operates two full-service branches in Fargo, ND (North Branch on Broadway N and South Branch on 32nd Ave S), supplemented by digital channels (a Malauzai-powered iOS/Android mobile app and cbzsecure.com online banking with bill pay, mobile deposit, and eStatements) and the MoneyPass ATM network for surcharge-free nationwide access (8 free withdrawals per month).

Its product suite spans share-draft checking with no monthly fees, Primary Shares savings ($50 minimum), Money Market savings ($500 minimum, tiered APY up to 1.00%), Club Savings, Share Certificates (3 to 36 months, APY up to 3.70%), IRAs (Traditional, Roth, Coverdell), consumer loans (auto, RV, signature, share-secured), home-equity products, mortgages (via internal underwriting plus a First Class Mortgage partnership for conventional loans), Visa Debit, and a three-tier Visa ScoreCard credit card program. Non-lending revenue streams include domestic and international wire transfers (Bank of North Dakota as correspondent), safe-deposit-box rentals, money orders ($1), and ancillary services such as notary, night deposit, financial calculators, and Visa Purchase Alerts.

FPSFCU earns revenue primarily through net interest income on its deposit and loan book, with fee income from wires, safe-deposit boxes, money orders, and interchange on debit and credit cards. As a not-for-profit cooperative, surplus is returned to members via reduced loan rates, higher savings APYs, and waived monthly fees. Distribution is exclusively domestic within the Fargo, ND labor-shed, with no external funding, no parent company, and no subsidiaries. The credit union is federally insured by the NCUA up to $250,000 per account, governed by a volunteer member-elected Board of Directors, and operates with a single-digit-employee leadership team headed by President Brandy.

Name

Fargo Public Schools Federal Credit Union

Legal name

Fargo Public Schools Federal Credit Union

Website

https://fpsfcu.com

Company type

Private

Founded year

1934

Operating status

Operating

Headcount range

1–10 employees

Short description

Fargo Public Schools Federal Credit Union is a not-for-profit, member-owned federal credit union founded in 1934, serving approximately 2,349 members comprised of Fargo Public Schools employees, retirees, board members, and their immediate families through two Fargo, ND branches and mobile banking.

Ownership category

akta.pro rank

Product category

Community Credit Union Banking

NAICS

Credit Unions (522130), Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industry

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

Keywords

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

Headquarters

HQ city

Fargo

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from auto loans, home loans, personal loans, credit cards, and share-secured loans. The not-for-profit structure returns earnings to members in the form of reduced fees, higher savings rates, and lower loan rates.
2. Deposit Account Fees: Fees from various account services including wire transfers ($15 domestic, $50 international), money orders ($1 fee), and potential overdraft protection fees
3. Safe Deposit Box Rental: Annual rental fees for safe deposit boxes at both branch locations
4. Share Certificate Penalties: Term deposit accounts (share certificates) with penalties for early withdrawal generating stable interest-bearing deposits

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Core offering

Fargo Public Schools Federal Credit Union (FPSFCU) is a not-for-profit, member-owned financial cooperative that provides retail banking products to its members, including checking accounts, savings and money market accounts, share certificates, IRAs, auto/RV loans, mortgages, home equity loans, signature/share-secured loans, Visa debit and credit cards, and ancillary services such as wire transfers, safe deposit boxes, money orders, notary, and online/mobile banking. Membership is restricted to current and retired Fargo Public Schools employees, board members, and their immediate family members.

Product overview

Fargo Public Schools Federal Credit Union (FPSFCU) operates as a not-for-profit, member-owned financial cooperative offering a comprehensive suite of banking products organized into five core areas: Checking (Share Draft checking with Visa Debit Card and optional Overdraft Protection), Savings (Primary Shares, Money Market, Club Savings, Peewee Penguin Club children's program, Share Certificates including Saving Up Certificates for minors, and IRAs), Loans (Auto/RV loans, Mortgage and Home Equity products, Signature loans, and Share Secured loans), Cards (Visa Debit Card, VISA ScoreCard Credit Card), and supplementary Services (Online/Mobile Banking, Safe Deposit Box, Wire Transfer, Money Orders, Night Deposit, Notary Public, Financial Calculators, and card management services). The portfolio is anchored by Primary Shares (membership ownership) and the checking/savings account infrastructure, with loans and cards as revenue-driving products. All products are NCUA-insured and targeted exclusively at Fargo Public Schools employees and their family members.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Draft Checking No-minimum-balance checking account with no monthly maintenance fees. Includes access to MoneyPass ATMs, mobile app, online banking, bill pay, and overdraft protection options. Designed for FPSFCU members.
• Primary Shares Savings Required ownership share account for credit union members with $50 minimum balance. Functions as a regular savings account earning dividends on balances above the minimum with no monthly service fees. Establishes member ownership.
• Money Market Savings Higher dividend-earning savings account requiring $500 minimum to open with no fees. Balance tiers determine dividend rate from 0.50% to 1.00% APY based on balance.
• Club Savings Accounts Separate savings accounts for Vacation, Holiday, and Hunting goals that earn higher dividends with no minimum balances. Funds auto-transfer to the member's account on a set date with earned dividends.
• Peewee Penguin Club Children's savings program teaching money management and regular saving habits to kids. Includes a dedicated website (peeweepenguin.com) and is available at both branches.
• Share Certificates Term deposit accounts with higher dividend rates in exchange for committing funds for a set period. Available in terms from 3 to 36 months with various balance tiers. Includes a Saving Up Certificate for members under 18 with $100 minimum and contribution flexibility.
• Individual Retirement Accounts (IRAs) Tax-advantaged retirement savings including Traditional IRA (tax-deferred growth via 401k rollovers), Roth IRA (tax-free withdrawals after 59½), and Coverdell Education Savings Account (tax-free education withdrawals).
• Auto Loans

Quantifiable outcome

• Member deposits insured by NCUA up to $250,000
• +2 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

Integration8 records

Feature3 records

Partnerships

One partnership is on record.

• First Class MortgageminorStrategic or Co-development PartnerFPSFCU has partnered with First Class Mortgage to offer conventional mortgage loans to members. The partnership allows the credit union to better serve members seeking conventional mortgage financing by leveraging First Class Mortgage's expertise and platform.

Scale indicators4 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• Bellco Credit Union: Colorado-based member-owned credit union offering full-service retail banking, lending, and wealth products; comparable as a community-focused cooperative with multi-channel distribution and similar product breadth.
• Michigan State University Federal Credit Union: Credit union affiliated with the Michigan State University community (employees, students, alumni, family); directly comparable as an institution built around a defined institutional membership base offering full retail banking and lending services.
• University of Iowa Community Credit Union: Iowa-based credit union serving the University of Iowa community and broader public-sector/employer groups; highly comparable membership-group charter model and product set, including mortgage and auto lending.
• State Employees Credit Union (SECU): North Carolina's largest credit union, serving state employees and their families; shares the public-sector employee membership model, not-for-profit cooperative structure, and comprehensive banking/lending product set.
• Schools Financial Credit Union: California-based credit union originally chartered for school employees that has expanded eligibility; comparable in mission, member structure, and comprehensive retail/lending product offering.
• First Tech Federal Credit Union: Credit union serving employees of technology and related companies; shares the employer-group-based field of membership model and offers a full suite of consumer banking, lending, and card products.
• SchoolsFirst Federal Credit Union: The largest credit union serving school employees and their families in California; directly comparable in mission (educator-focused cooperative) and product mix (checking, savings, mortgages, auto loans, credit cards), though at vastly greater scale.
• Teachers Federal Credit Union: Long Island-based credit union founded to serve educators and now open to broader community membership; shares the employee/membership-group charter model and offers an analogous full-service banking, lending, and credit card product suite.

Regional players

• Town & Country Credit Union: North Dakota-based credit union with broader community and employer-based membership; comparable in product set and not-for-profit cooperative model, with overlapping geographic footprint in the Fargo region.
• Capital Credit Union: North Dakota-headquartered member-owned credit union serving select employer groups and broader community; provides a regional benchmark for credit unions operating in the same North Dakota market with a similar product mix.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/FPSFCU
• Facebookfacebook.com/FPSFCU
• LinkedInlinkedin.com/company/fpsfcu-fargo
• Instagraminstagram.com/fpsfcu

Compliance1 record

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 Fargo Public Schools Federal Credit Union