Library of Congress FCU

What Library of Congress FCU does

Library of Congress Federal Credit Union (LCFCU) is a not-for-profit, member-owned financial cooperative founded in 1935 to serve employees of the Library of Congress and the broader U.S. library community. Its field of membership extends to American Library Association members and employees, staff at 50+ strategic partner organizations (primarily library associations, education nonprofits, and related institutions), and immediate and extended family of eligible members. Headquartered in Hyattsville, Maryland with administrative operations there, LCFCU operates four physical branches located inside Library of Congress buildings in Washington DC (Madison, Jefferson, Adams) and at the Packard Campus in Culpeper, Virginia. The institution is regulated and federally insured by the NCUA.

The credit union offers a full-service retail banking product set including free checking with no balance minimums, Share Savings, Money Market, Share Certificates, IRAs (Traditional, Roth, Coverdell, IRA Certificates), and youth/Young Adult accounts. Lending products span new and used auto loans with 100% financing and terms up to 144 months, RV/boat/motorcycle loans, mortgages and refinancing, home equity loans and HELOCs, unsecured personal loans up to $50,000, personal lines of credit, FHA home improvement loans, and a Visa credit card portfolio (9.75% APR purchases / 8.75% balance transfers, no annual fees). Distribution runs through the four in-building branches, a 24/7 telephone banking system branded ELSIE with iTalk voice recognition in English and Spanish, online and mobile banking apps (iOS/Android, IFS-based platform), 80,000+ surcharge-free ATMs via Allpoint and MoneyPass, and access to 5,000+ CO-OP Shared Branches. Insurance (auto, home, life, AD&D, GAP, mechanical repair) is delivered through TruStage, wealth management via Osaic Wealth, mortgage origination via SWBC, vehicle sourcing via TRUECar, and financial education through Balance Financial Wellness.

LCFCU's business model is the standard credit union net-interest-margin model: revenue is generated primarily from interest income on the consumer loan portfolio (auto, mortgage, home equity, personal, credit card) funded by member deposits in savings and certificate accounts, supplemented by transactional fee income (overdraft $28/item, stop payment $28, wire fees, and other service charges). As a cooperative, surplus earnings are returned to members through lower loan rates and higher deposit yields rather than distributed to shareholders; tiered rate discounts (up to 0.50% APR) are offered for members with LCFCU Visa credit cards, automatic transfers, and free checking with direct deposit. Premium members qualify for the Monticello Society Elite program (55+ with combined balances or direct deposit), and the credit union layers scholarships, youth accounts, and community events (Cherry Blossom Run, Walk to End Alzheimer's) on top of standard financial services to deepen member engagement.

Name

Library of Congress FCU

Legal name

Library of Congress Federal Credit Union

Website

https://lcfcu.org

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

11–50 employees

Short description

Library of Congress Federal Credit Union is a not-for-profit, NCUA-insured member-owned cooperative founded in 1935 that provides full retail banking — checking, savings, loans, mortgages, and credit cards — to Library of Congress employees, American Library Association members, and affiliates of 50+ partner organizations across four Washington DC-area branches.

Ownership category

akta.pro rank

Product category

Retail Banking / Credit Union Services

NAICS

Credit Unions (52213), Credit Card Issuing (522210)

SIC

Savings Institution, Federally Chartered (6035), Personal Credit Institutions (6141), Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro primary industry

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

akta.pro secondary industries

Public Sector & Municipal Credit Unions (FSABAEAK), Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL), General Purpose Credit Cards (FSAKABAA)

Keywords

• Retail banking services
• Credit union lending
• Consumer deposit accounts
• Mortgage and home equity
• Digital banking platforms

Headquarters

HQ city

Hyattsville

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Interest Income from Lending: The credit union generates revenue primarily through interest earned on loans including auto loans, personal loans, mortgages, home equity loans/lines of credit, and credit cards. As a credit union, excess earnings are returned to members through lower loan rates and higher savings rates.
2. Share Savings and Certificate Accounts: Members deposit funds in various savings vehicles including Share Savings, Money Market, IRAs, and Share Certificates. The credit union pays dividends on these accounts while using deposits to fund loans.
3. Fee Income: Various service fees including overdraft fees ($28), ATM fees, wire transfer fees, stop payment fees ($28), and other transactional fees. Fee schedule effective June 1, 2026.
4. Credit Card Operations: Visa credit card operations generating interchange revenue and interest income on outstanding balances. Fixed-rate credit cards with 9.75% APR purchases and 8.75% balance transfer rate.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels7 records

Core offering

Library of Congress FCU is a member-owned, not-for-profit federal credit union that provides retail banking and consumer lending products — including checking, savings, money market, IRA, and certificate deposit accounts; auto, personal, mortgage, home equity, HELOC, and Visa credit card loans — to employees of the Library of Congress, American Library Association members, employees of partner library organizations, and their family members. The credit union distributes through four D.C./Virginia branches, online and mobile banking, ELSIE telephone banking, and the CO-OP shared branch and surcharge-free ATM network, and complements core banking with partner-distributed insurance (TruStage), mortgage (SWBC), and wealth management (Osaic) services.

Product overview

Library of Congress FCU is a credit union serving America's library community since 1935, offering a comprehensive suite of financial products and services. The core offerings include checking and savings accounts (Share Savings, Money Market, Share Certificates, IRAs), consumer lending (auto loans, mortgages, home equity products, personal loans, credit cards), and digital banking platforms (Online Banking, Mobile Banking, ELSIE Telephone Banking). The credit union also provides insurance products through TruStage partnerships, wealth management services via Osaic Wealth, financial education through BALANCE Financial Wellness, and scholarship programs for members. Premium account tiers include Monticello Society Elite for members 55+, and youth accounts for members from birth through age 21. The product portfolio is accessed through branch locations, ATM networks (80,000+ surcharge-free ATMs, 5,000 shared branches), and digital channels including web and mobile applications.

Differentiator

Problem solved

Functional benefit

Brands

• Monticello Society Elite: Exclusive membership program for members aged 55+ with benefits including free services, loan discounts, and priority service.
• Stretch Pay
• LCFCU Wealth Management

Products and services

• Checking Account Free checking account for LCFCU members, with Visa Debit Card, no monthly balance requirements, unlimited check writing, surcharge-free access to 80,000+ ATMs worldwide, and online/mobile banking.
• Share Savings Account Primary membership savings account with $5 minimum deposit, earns dividends at 0.15% APY with no monthly fees; foundational account establishing LCFCU membership.
• Money Market Account Tiered money market account with up to 1.56% APY at $75,000+ tier, $2,500 minimum balance to open and earn dividends, up to six withdrawals per month, and free credit union checks.
• IRA Share Accounts (Traditional & Roth) Individual Retirement Accounts including Traditional IRA (tax-deferred earnings) and Roth IRA (tax-free earnings and qualified withdrawals) for members' retirement savings.
• Share Certificate Certificate of deposit with terms from 3 months to 5 years, $500 minimum deposit, and APYs from 2.10% to 3.91%, compounded quarterly for terms 6 months or longer.
• Monticello Society Elite (Membership Tier for 55+) Premium membership tier for members aged 55+ with LCFCU checking, debit card, and either direct deposit or $50,000+ combined savings. Benefits include free services, $500 credit on real estate loans, priority service, and 25% discounts on gift cards, domestic wires, and stop payments.
• Youth & Young Adult Accounts Custodial and savings accounts for ages 0-12 (Share Savings, special savings, Custodial Accounts under DC Uniform Transfer to Minors Act) and checking/savings for ages 13-21 (Visa Debit Card from age 16, access to personal/auto loans and fixed-rate Visa Credit Card).
• Auto Loan (New, Used, and Refinance) Auto loan and refinancing product with 100% financing, terms up to 144 months, competitor rate matching, rate discount up to 0.50%, free CARFAX Vehicle History Report, and dedicated first-time buyer program up to $30,000.
• RV, Boat & Motorcycle Loan Recreational vehicle financing for boats, RVs, trailers, and motorcycles with 100% financing and flexible terms for LCFCU members.
• Mortgage & Refinancing Home purchase and refinance mortgage loans including conventional, jumbo, and adjustable-rate (ARM) options in 15- or 30-year terms, available up to 95% LTV with PMI, delivered through SWBC Mortgage partnership.
• Home Equity Loan & Line of Credit (HELOC) Fixed-rate home equity loan borrowing up to 90% of appraised value minus mortgage, terms up to 15 years; HELOC revolving line up to 80-100% of value (depending on limit), 6-month intro rate 3.50% APR, 10-year draw period.
• Visa Credit Card (Fixed-Rate & Secured) Fixed-rate Visa credit card with 9.75% APR on purchases, 8.75% on balance transfers/cash advances, no annual fees, no cash advance fees, no balance transfer fees, no over-limit fees, 25-day grace period; Secure Visa option backs credit-building with Share Savings pledge.
• Personal Loan (incl. Stretch Pay) Unsecured personal loan up to $50,000 for any purpose, terms up to 84 months, 9.25%-17.90% APR; Stretch Pay payday alternative offers up to $500 at 18% APR / 30-day term for members current on LCFCU loans 120+ days.
• Personal Line of Credit & Other Personal Loans Revolving personal line of credit up to $10,000 with simple interest and no annual fees for purchasing power or overdraft protection; Share/Certificate-secured loan at dividend+3.00%, terms up to 60 months; FHA home improvement loan up to $7,500, terms 36-60 months.
• Online Banking Platform 24/7 web-based online banking for account management, bill pay, transfers, loan payments, and eStatements, with integration into money management programs.
• Mobile Banking App (iOS & Android) Native iOS and Android mobile banking app providing 24/7 account access, mobile check deposit via smartphone camera, transfers, notifications, and full account management.
• ELSIE Telephone Banking 24/7 automated telephone banking with iTalk voice recognition in English and Spanish, enabling account access, balance inquiries, and transfers via phone at 202-707-1476 / 800-933-5743.
• TruStage Insurance Products (Auto & Home, Life, AD&D) Member-discounted insurance products through TruStage partnership: Auto & Home (24/7 claims), Life Insurance for family protection, and Accidental Death & Dismemberment (AD&D) with $1,000 no-cost base coverage plus up to $300,000 additional coverage.
• Vehicle Protection Products (GAP & Mechanical Repair Coverage) GAP (Guaranteed Asset Protection) covers remaining auto loan balance in total-loss scenarios where insurance valuation is less than owed; Mechanical Repair Coverage by Member's Choice includes rental car reimbursement, 24-hour roadside assistance, and an authorized repair facility network.
• Wealth Management & Financial Planning Investment advisory services delivered through Osaic Wealth, Inc., offering retirement planning, college funding, mutual funds, IRAs, fixed and variable annuities, and wealth transfer planning for LCFCU members, plus monthly free webinars on investment topics.
• BALANCE Financial Wellness Program Free financial education platform and webinars on budgeting, debt reduction, credit score improvement, mindful budgeting, financial decision-making, and wealth management planning, delivered through the Balance Financial Wellness partnership.
• Scholarship Programs (Undergraduate, Masters', Professional Certification) Member scholarships: two $2,000 undergraduate awards for graduating high-school seniors; two $2,000 Masters' scholarships in Library Science; four $500 Professional Certification scholarships. Applications processed via SmarterSelect.

Named customers6 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Partnerships

Seven partnerships are on record, tiered core.

• TRUECarcoreChannel Partner/ Reseller/ DistributorTRUECar partnership enables members to shop for vehicles through hundreds of dealerships with LCFCU pre-approved financing. TRUECar handles dealership negotiations while members get competitive pricing and LCFCU handles financing, simplifying the car buying experience.
• SWBC MortgagecoreChannel Partner/ Reseller/ DistributorSWBC Mortgage partnership provides mortgage and refinancing products for LCFCU members including conventional, jumbo, and adjustable rate mortgages with home purchase and refinance options.
• Balance Financial WellnesscoreStrategic or Co-development PartnerPartnership provides free financial education resources including budgeting tools, debt reduction strategies, credit score improvement guidance, and free webinars to help members improve their financial wellness.
• TruStage InsurancecoreChannel Partner/ Reseller/ DistributorTruStage partnership offers LCFCU members access to auto, home, life, and accidental death & dismemberment insurance products at discounted rates through TruStage Insurance Agency.
• Osaic Wealth (USAdvisors Wealth Management)coreStrategic or Co-development PartnerWealth management partnership providing investment advisor services through Mikael Hallstrom, offering retirement planning, college funding, mutual funds, IRAs, fixed and variable annuities, and wealth transfer planning. Monthly free webinars on investment topics.
• CO-OP Shared BranchescoreChannel Partner/ Reseller/ DistributorCO-OP Financial Services network provides 5,000+ shared branch locations where LCFCU members can conduct basic transactions including deposits, withdrawals, transfers, loan payments, and account inquiries nationwide.
• TrustagecoreChannel Partner/ Reseller/ DistributorTrustage partnership provides mechanical repair coverage and GAP (Guaranteed Asset Protection) auto loan protection products for vehicle owners, including reimbursement for rental cars, roadside assistance, and coverage transferability.

Scale indicators4 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• First Technology Federal Credit Union: Oregon-based credit union serving technology and affiliated industry employees. Comparable affinity membership model, comprehensive product suite, and digital banking capabilities.
• Digital Federal Credit Union (DCU): Massachusetts-based digital-first credit union serving a defined employer/association field of membership. Comparable cooperative structure and broad product suite, with similar partner-based mortgage and insurance offerings.
• NASA Federal Credit Union: Federal credit union serving NASA employees, contractors, and affiliated space and science community members. Direct comparison as a federal-agency affinity-based credit union with similar member base characteristics.
• Alliant Credit Union: Illinois-based digital credit union with open membership via partner organization affiliation. Comparable broad product menu (checking, savings, lending, credit cards) and digital-first distribution model, with similar partner-affinity acquisition strategy.
• Congressional Federal Credit Union: Federal credit union serving U.S. Congress employees, government workers, and affiliated organizations in the Washington DC area. Highly comparable to LCFCU in target market (federal government employees), charter structure, and product offering.
• Securityplus Federal Credit Union: Maryland-based federal credit union serving government employees and select employer groups, with full deposit and lending product suites. Comparable affinity-based membership model and Mid-Atlantic geographic focus.
• State Employees Credit Union (SECU) of Maryland: Maryland state-chartered credit union serving state employees and affiliated organizations, with broad deposit and lending products. Closely comparable in serving public-sector employee groups with a defined field of membership.

Broad incumbents

• PenFed (Pentagon Federal Credit Union): Large federal credit union serving military, government employees, and affiliated groups nationwide. Comparable in targeting federal-affiliated members with a broader product portfolio and significantly larger scale.
• Navy Federal Credit Union: Largest U.S. credit union serving military, Department of Defense, and veteran communities with a full suite of deposit, lending, credit card, and wealth products. Comparable in serving a defined federal-affiliated membership, though at dramatically larger scale.

Peers

• Affinity Federal Credit Union:

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks7 records

Key highlights6 records

Customer concentration

• Xx.com/LibCongressFCU
• YouTubeyoutube.com/channel/UCw3FXfDUZ_LtxIBiZ15kMjw
• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/15412540
• Instagraminstagram.com/libcongressfcu

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Library of Congress FCU