Policemen's Federal Credit Union

What Policemen's Federal Credit Union does

Policemen's Federal Credit Union (PFCU) is a federally chartered, member-owned credit union founded in 1967 and headquartered at 1130 S Main St, South Bend, Indiana. It serves two principal membership segments: (1) sworn and civilian law enforcement employees, retirees, and F.O.P.A. members affiliated with specific lodges in St. Joseph County, and (2) any individual who lives, works, worships, or attends school in St. Joseph County, including employees of designated partner organizations such as Mishawaka Municipal Utilities, AEP, and South Bend Lathe. PFCU is NCUA-insured and operates as a not-for-profit financial cooperative.

The institution operates a single physical branch combined with a digital banking platform. Core loan products include auto loans (APR 4.25%-7.25% by vehicle age and term), recreational vehicle loans, equipment and signature/personal loans, home equity loans/HELOCs, and Visa credit cards (Classic 11.90%, Gold 8.90%, Platinum 9.90% APR, all no annual fee). Mortgage origination is delivered via channel partnership with Member First Mortgage, LLC. Deposit products encompass Premier Checking, Membership Share Savings, Share Certificates (up to 4.10% APY at short terms), Money Market Accounts (up to 2.25% APY), IRAs, and targeted savings clubs. Digital service infrastructure includes an iOS/Android mobile banking app with mobile deposit and wallet support (Apple Pay, Google Pay, Samsung Pay), online banking via itsme247, text banking, bill pay through CheckFree, e-statements, CU Talk voice banking, and Visa Alerts fraud notifications. Distribution is extended nationally through Alliance One, CO-OP Shared Branch, and CULIANCE shared branching networks.

Revenue is generated primarily through net interest income on the loan portfolio (predominantly consumer auto, RV, and personal), supplemented by overdraft and ATM surcharges, credit card interest and fees, and ancillary product fees. Membership acquisition occurs through the FOPA affiliation pathway ($20 one-time fee, waived for law enforcement and certain employer groups), employer-group partnerships, and a refer-a-friend program offering $50 per successful referral. Pricing includes direct-deposit-driven APR reductions on consumer loans. The institution does not publicly disclose revenue or asset figures.

Name

Policemen's Federal Credit Union

Legal name

Policemen's Federal Credit Union

Website

https://policemensfcu.org

Company type

Private

Founded year

1967

Operating status

Operating

Headcount range

11–50 employees

Short description

Policemen's Federal Credit Union is a federally chartered, member-owned credit union founded in 1967 in South Bend, Indiana, serving law enforcement personnel and St. Joseph County residents with consumer loans, deposit accounts, Visa cards, and digital banking via a single branch and shared-network partnerships.

Ownership category

akta.pro rank

Product category

Retail Banking (Credit Union)

NAICS

Credit Unions (52213)

SIC

Federal & Federally-Sponsored Credit Agencies (6111)

akta.pro industry

PRIMARYFSABAEAA

Community Credit Unions (Retail/Consumer Focus)

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Community & Cooperative Banking (Credit Unions, Mutuals)

SECONDARYFSABAEAB

Employer/Occupational Credit Unions

Financial & Insurance/Banking (Commerical, Retail & Consumer)/Community & Cooperative Banking (Credit Unions, Mutuals)

Keywords

• Credit union banking
• Consumer lending
• Mortgage financing
• Deposit accounts
• Digital banking services

Headquarters

HQ city

South Bend

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Interest Income: Interest income from auto loans, mortgage loans, personal loans, recreational vehicle loans, and other credit products. Competitive rates offered to members with potential discounts for direct deposit members.
2. Savings and Certificate Account Fees: Fees on savings accounts, certificates, and money market accounts as permitted under truth-in-savings regulations
3. Overdraft and Transaction Fees: Fees charged for overdrafts, ATM surcharges at non-network ATMs, cross-border transactions, and foreign currency conversion
4. Membership Dues: One-time $20 membership fee for Fraternal Order of Police Associates (FOPA) membership, waived for certain eligible groups
5. Credit Card Fees: Interest and fees from Visa credit card products including Classic, Gold, and Platinum cards

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels5 records

Core offering

Policemen's Federal Credit Union is a federally chartered, member-owned credit union that delivers consumer banking products and services to the law enforcement community and St. Joseph County, Indiana residents. Its core offerings include deposit accounts (checking, savings, share certificates, money market, IRAs), consumer loans (auto, mortgage, home equity, HELOC, personal, recreational vehicle, equipment, share-secured), Visa credit and debit cards, and digital banking channels (online banking, mobile app with mobile deposit, bill pay, mobile wallets, text banking).

Product overview

Policemen's Federal Credit Union offers a comprehensive suite of financial products and services through a community-focused credit union model. The core offerings include loan products (auto loans, mortgage loans via Member First Mortgage partnership, home equity loans/HELOCs, personal/signature loans, recreational vehicle loans for RVs/boats/motorcycles/ATVs, equipment loans, and share-secured loans) and deposit products (Premier Checking, Membership Share Savings, Share Certificates, Money Market Accounts, IRAs, and Targeted Share Savings). Credit card services include Visa Classic, Gold, and Platinum cards with no annual fees, plus Visa Debit Cards. Digital banking services encompass online banking, mobile banking app with mobile deposit, bill pay, text banking/alerts, e-statements, mobile wallet support (Apple Pay, Google Pay, Samsung Pay), CU Talk 24/7 voice banking, and access to Alliance One ATM and CO-OP/CULIANCE shared branching networks. Additional services include loan protection plans (GAP, Mechanical Repair Coverage, Payment Protection), overdraft protection, identity theft protection resources, financial calculators, and a financial resource center. The institution positions itself as a full-service financial partner serving law enforcement and the broader community in South Bend and Northern Indiana.

Differentiator

Problem solved

Functional benefit

Products and services

• Auto Loans Financing for new and used automobiles with competitive APRs (4.25% for new 2020+ vehicles, up to 7.25% for 2011 and older) and flexible repayment terms up to 84 months, available for purchase, pre-approval, and refinancing; available to PFCU members in St. Joseph County, IN.
• Mortgage Loans Home purchase financing including fixed-rate and adjustable-rate mortgage options, first-time homebuyer programs, and low down payment solutions, provided through partnership with Member First Mortgage, LLC for members purchasing homes.
• Home Equity Loans One-time lump sum loans using home equity as collateral with structured monthly payments, typically used by homeowners for major renovations, debt consolidation, or large planned expenses.
• HELOC (Home Equity Line of Credit) Revolving credit line allowing homeowners to access funds as needed over time, providing flexibility for ongoing renovations or emergency expenses; subject to the direct-deposit APR discount exclusion list.
• Mortgage Refinancing Replacement of an existing home mortgage with a new loan to potentially secure lower interest rates, reduce monthly payments, or access home equity; available to PFCU members through the Member First Mortgage partnership.
• Personal Loans (Signature Loans) Unsecured signature loans for debt consolidation or major expenses with flexible repayment options and competitive interest rates, available to PFCU members.
• Recreational Vehicle Loans Financing for RVs, campers, travel trailers, boats, motorcycles, ATVs, and jet skis with flexible terms and competitive rates; available to PFCU members.
• Equipment Loans Financing for small business equipment, machinery, office equipment, tractors, and utility trailers with affordable rates; available to PFCU members.
• Share-Secured Loans Share-secured personal loans using member savings or certificates as collateral, offering lower payments and flexible terms for credit building; available to PFCU members.
• Visa Credit Cards Credit card products including Classic, Gold, and Platinum tiers with varying APR rates, all with no annual fee, supporting online/mobile access and Visa Alerts; available to PFCU members.
• Visa Debit Cards Debit cards accessing funds in designated accounts for purchases, ATM withdrawals, and balance inquiries, with daily transaction limits, mobile wallet support (Apple Pay, Google Pay, Samsung Pay), and Visa Alerts; available to PFCU checking account holders.
• Premier Checking Account Checking account with tiered dividend rates and APY based on balance levels, offering direct deposit discounts on eligible loans; available to PFCU members.
• Membership Share Savings Primary savings account with tiered dividend rates based on balance, required for PFCU credit union membership; balance tiers include 0.05% APY up to $10,000, 0.10% APY at $10,001-$25,000, and rate variations above $50,000.
• Share Certificates Term deposit accounts requiring minimum $500 opening balance with guaranteed dividend rates and APY for terms ranging from 6 months to 48 months; available to PFCU members.
• Money Market Accounts Savings accounts with competitive tiered rates up to 2.25% APY requiring minimum $10,000 balance; available to PFCU members.
• Individual Retirement Accounts (IRAs) Retirement savings accounts with dividend rates based on balance levels, providing tax-advantaged savings options; NCUA-insured up to $250,000; available to PFCU members.
• Targeted Share Savings (Christmas/Vacation) Specialized savings accounts for specific purposes including Christmas clubs and vacation accounts with competitive rates; available to PFCU members.
• Online Banking 24/7 web-based platform enabling members to access accounts, transfer funds, pay bills, view e-statements, monitor transactions in real time, and apply for loans; available to PFCU members.
• Mobile Banking App Smartphone application available on iOS and Android enabling members to access accounts, transfer funds, pay bills, deposit checks via mobile camera, and use mobile wallet functionality (Apple Pay, Google Pay, Samsung Pay).
• CU Talk (Voice Banking) 24/7 automated phone system (CU Talk) for balance inquiries, fund transfers, and transaction history review; available to PFCU members.
• Loan Protection Plans Protection products including GAP coverage, Mechanical Repair Coverage, Payment Protection, and disability protection for loan collateral, available to PFCU members with eligible loans.
• Overdraft Protection Account protection transferring funds from other accounts to cover overdrafts, with APR of 15.50% to 18.00%; available to PFCU checking account holders.

Quantifiable outcome

• Lower loan rates and fees compared to traditional banks due to member-owned structure

Named customers3 records

Segments5 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration15 records

Feature7 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• Member First Mortgage, LLC (MFM)coreChannel Partner/ Reseller/ DistributorStrategic mortgage partnership bringing comprehensive home loan programs including FHA, USDA/Rural Development, VA loans, conventional fixed and adjustable rate programs, construction financing, and jumbo loans. MFM is a Credit Union-owned mortgage lender providing competitive rates and excellent service to PFCU members.
• Alliance OnecoreTechnology or IntegrationNationwide ATM network providing surcharge-free cash access to PFCU members across thousands of locations. Partnership eliminates out-of-network ATM fees for members traveling outside the South Bend area.
• CULIANCEcoreChannel Partner/ Reseller/ DistributorCredit union alliance network connecting PFCU members with access to partner credit unions for account transactions, deposits, withdrawals, and branch services nationwide, extending service reach beyond local branch footprint.
• CO-OP Shared BranchcoreChannel Partner/ Reseller/ DistributorCO-OP Shared Branch & ATM network providing access to thousands of partner credit unions and ATM locations nationwide. Members can conduct in-person transactions, deposits, withdrawals, and receive full branch support just like at their home branch.
• VisacoreTechnology or IntegrationVisa debit and credit card services including Visa Alerts for real-time fraud notifications, mobile wallet integration with Apple Pay, Google Pay, and Samsung Pay, and cross-border transaction processing with currency conversion.
• Enliven Collective MarketingminorImplementation/ SI/ Consulting PartnerWebsite development and digital marketing partnership responsible for the credit union's website design and maintenance.
• Fraternal Order of Police Associates (FOPA)coreStrategic or Co-development PartnerFOPA membership qualifies individuals for PFCU credit union membership. The organization serves sworn or civilian employees and pensioners of law enforcement agencies in St. Joseph County. One-time $20 membership fee applies for FOPA affiliation, waived for law enforcement personnel.
• NCUA (National Credit Union Administration)coreOthersFederal regulatory agency providing federal insurance for credit union deposits up to at least $250,000. Federally chartered credit union subject to NCUA regulations and oversight.

Scale indicators2 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Financial Center First Credit Union: Indiana-headquartered community credit union serving employer groups and the broader community with a similar member-owned banking model and lending/deposit product set.
• Security Service Federal Credit Union: Federally chartered community credit union serving defined occupational groups and the broader public, with full-service loan and deposit products — directly comparable federal-charter model.
• Teachers Credit Union (TCU): Large Indiana community credit union with a similar full-service product suite (auto, mortgage, deposit, cards) and broad branch network — comparable in product breadth but materially larger scale.
• Police & Fire Federal Credit Union: Federal credit union serving law enforcement and other defined memberships — directly analogous mission/occupational eligibility structure to PFCU and a close conceptual peer.
• Notre Dame Federal Credit Union: Community credit union headquartered in South Bend, IN, serving a similar Indiana geography with comparable deposit, loan, and digital banking products — directly comparable peer in the same local market.
• Indiana Members Credit Union: Indiana-headquartered community credit union offering auto loans, mortgages, checking/savings, and digital banking to a multi-county Indiana membership — closely comparable product set and geography.

Regional players

• Elements Financial Federal Credit Union: Indiana-based federal credit union serving employer groups and the central Indiana market with similar member-owned banking products and digital services.

Broad incumbents

• 1st Source Bank: South Bend-headquartered community bank with overlapping consumer/commercial banking and loan products, representing direct local banking competition beyond the credit-union sector.
• Lake Michigan Credit Union: Large regional credit union operating across Michigan and adjacent states with comparable consumer lending, deposit, and digital banking offerings; represents scaled-up credit union competition.

Others

• PSCU (Public Service Credit Union): Large credit union service organization providing core processing, digital channels, and card services to credit unions like PFCU — adjacent infrastructure provider to the credit-union ecosystem.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

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 Policemen's Federal Credit Union