1st Street Credit Union

Name

1st Street Credit Union

Legal name

1st Street Credit Union

Website

https://1streetcu.com

Company type

Private

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

akta.pro secondary industries

Public Sector & Municipal Credit Unions (FSABAEAK), Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Retail banking services
• Consumer lending
• Share savings accounts
• Mortgage loan products
• Credit union services

Headquarters

HQ city

Sarasota

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Loans: Primary revenue source from interest charged on lending products including real estate loans, home equity loans, auto loans, credit cards, and personal loans. The credit union offers competitive rates with featured rates such as 4.25% APR for home equity loans and 4.50% APR for new auto loans.
2. Share Account Fees and Charges: Overdraft fees (NSF fees), service charges, and various account-related fees. The credit union offers many free services but charges for specific services such as $20 late payment fees and $20 over-the-credit-limit fees on credit cards.
3. Service Charge Income: Fees for various banking services including notary service, overdraft protection (Courtesy Pay), and other miscellaneous banking services as outlined in their service charge schedule.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels4 records

Core offering

1st Street Credit Union is a member-owned financial cooperative that provides retail banking and consumer lending products to government employees, tri-county residents, and their family members. Its core offerings include share (savings) accounts, share draft (checking) accounts, money market accounts, IRAs, share certificates, home equity loans, first mortgages, auto loans, Mastercard credit and debit cards, and identity protection. Members are served through a single Sarasota branch, an extended-hours call center, online and mobile banking, and shared branching access to 5,400+ nationwide locations.

Product overview

1st Street Credit Union offers a comprehensive suite of financial products and services organized around three core pillars: deposit accounts (share savings, checking, money markets, IRAs, and certificates), lending products (mortgages, home equity, auto loans, and credit cards), and digital banking services (online banking, mobile banking, and bill payment). The credit union enhances its offerings with value-added services including identity theft protection (IDSafeChoice), extended vehicle warranties, overdraft protection programs, and shared branching access through national networks. Educational support is provided through the Earl Parker Educational Assistance Grant program.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Accounts (Savings) Primary savings account that establishes credit union membership, paying higher dividends than most financial institutions with quarterly statements, available to qualifying members.
• Share Draft Accounts (Checking) Checking account with no monthly service fees, no minimum balance, no per-check charges, free online banking, and free bill pay.
• Money Market Accounts Savings account with tiered dividend rates that increase as balance grows, requiring $1,000 minimum deposit and $250 additional deposits.
• Individual Retirement Accounts (IRAs) Retirement savings accounts with tax-deductible contributions and tax-deferred earnings.
• Share Certificates Term deposit accounts with locked-in rates for terms ranging from 6 to 60 months, with minimum deposit of $1,000.
• Club Accounts Savings accounts designed for systematic savings toward specific goals, earning dividends.
• Home Equity Loans Fixed and adjustable rate home equity loans with credit lines from $10,000 to $250,000, with tax-deductible interest, as low as 4.25% APR.
• 1st Mortgages First mortgage and refinancing options to help members achieve homeownership or refinancing goals, launched in July 2024.
• Auto Loans Vehicle loans for new and used automobiles, with competitive rates as low as 4.50% APR for model years 2023-2025.
• Mastercard Credit Cards Low-interest Mastercard credit cards with rates from 9.74% to 17.99% APR, no annual fee, and 25-day grace period.
• Mastercard Debit Cards Free debit card accepted at any ATM or merchant displaying Mastercard, Shazam, CO-OP, or Cirrus logos worldwide.
• IDSafeChoice Identity Protection Identity theft protection service at $1.25/month covering the accountholder, spouse, children under 25, and parents, with fully-managed recovery services including credit monitoring and fraud alerts.
• Shared Branching Access Access to credit union accounts at over 5,400 shared branching locations nationwide through CO-OP and Xtend networks, allowing deposits, withdrawals, transfers, and loan payments.
• Courtesy Pay Overdraft Protection Courtesy Pay service covering inadvertent overdrafts with no fee for the privilege; charged only when an overdraft occurs.
• Direct Deposit and Payroll Deduction Direct deposit of payroll checks and automatic loan payment deduction from paychecks for convenient fund management.
• Extended Warranty (Route 66) Vehicle extended warranty protection available through Route 66 Extended Warranty, offered at financing or refinancing with auto loans.

Quantifiable outcome

• Home equity loans as low as 4.25% APR
• +3 more outcomes

Named customers4 records

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

Feature1 record

Partnerships

Four partnerships are on record, tiered core and minor.

• Co-Op Shared BranchingcoreTechnology or IntegrationCo-Op Shared Branching provides access to a national network of credit unions allowing 1st Street Credit Union members to perform deposits, withdrawals, transfers, and loan payments at over 5,400 locations nationwide. The partnership extends the credit union's physical footprint without requiring additional branch locations.
• Xtend Shared BranchingcoreTechnology or IntegrationXtend Shared Branching provides an additional shared branching network option for members, complementing the Co-Op network. Members can access their accounts at Xtend network locations using their account number and photo ID.
• Sarasota Chamber of CommerceminorStrategic or Co-development PartnerCommunity partnership providing visibility and credibility within the Sarasota business community. Listed as a partner organization on the credit union's website.
• Manatee Chamber of CommerceminorStrategic or Co-development PartnerCommunity partnership extending visibility to Manatee County area. Listed as a partner organization on the credit union's website.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Direct peers

• Grow Financial Federal Credit Union: Florida-headquartered credit union with multiple branches across the Tampa Bay/Sarasota corridor. Comparable product mix including mortgages, auto loans, credit cards, and shared branching access, serving similar consumer and government-employee segments.
• Achieva Credit Union: Florida-based credit union serving the Tampa Bay and Southwest Florida region. Comparable as a community credit union with a similar deposit and lending product set, focused on consumer and small-business members.
• MidFlorida Credit Union: Florida community credit union with branches across central Florida and the I-4 corridor. Directly comparable as a community-based cooperative offering checking, savings, mortgages, auto loans, and credit cards.
• Tropical Financial Credit Union: Florida-based credit union serving South and Central Florida members. Comparable in scale and product set, including deposits, mortgages, auto loans, and digital banking tools.
• Suncoast Credit Union: One of the largest credit unions in Florida with extensive branch coverage across the Tampa Bay and Sarasota region. Directly comparable as a Florida-based, member-owned cooperative offering deposits, mortgages, auto loans, and credit cards to consumers and government employees.
• SchoolsFirst Federal Credit Union: Large employer-based credit union originally serving school employees in California. Comparable in operating model — an occupational-based charter that has expanded into a broader community field — offering a similar suite of deposit and lending products.

Broad incumbents

• Alliant Credit Union: Large national digital-first credit union serving a broad member base across the U.S. Comparable as a member-owned cooperative offering competitive deposit and loan rates with a strong digital experience, but operating at significantly greater scale than 1st Street.
• PenFed (Pentagon Federal Credit Union): One of the largest U.S. credit unions, serving a broad member base with deposits, mortgages, auto loans, and credit cards. Comparable product set and member-owned structure, but at materially greater scale and geographic reach.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/people/1st-Street-Credit-Union/61560854305278
• LinkedInlinkedin.com/company/1st-street-credit-union

Compliance2 records

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 1st Street Credit Union