FirstEnergy Family Credit Union

Name

FirstEnergy Family Credit Union

Legal name

FirstEnergy Family Credit Union, Inc.

Website

https://fefcu.com

Company type

Private

Founded year

1936

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Consumer Banking (Credit Union)

NAICS

Credit Unions (52213), Savings Institutions and Other Depository Credit Intermediation (522180)

SIC

Personal Credit Institutions (6141), Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

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

Keywords

• Consumer banking services
• Credit union lending
• Savings accounts
• Vehicle loan financing
• Home equity loans

Headquarters

HQ city

Akron

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, Others

Revenue model

1. Interest Income on Loans: As a not-for-profit credit union, revenue is generated primarily through interest earned on loans to members including vehicle loans, home equity loans, and personal loans. Earnings are returned to members in the form of higher dividend rates and lower loan rates.
2. Share Account Fees: Fees assessed for specific services including nonsufficient funds ($20), ACH returns ($20), and other account services as outlined in Schedule of Fees and Charges
3. Vehicle Financing: Auto loans offered to members at competitive rates, with option for members to obtain financing at credit union rather than through dealerships

Pricing tiers

Go-to-market motion1 record

Core offering

FirstEnergy Family Credit Union is a member-owned, not-for-profit financial cooperative that provides consumer banking products and lending services to FirstEnergy Corp employees, retirees, and their family members. The credit union offers share savings accounts, share certificates, club accounts, vehicle loans, home equity loans, personal loans, and digital banking services through its Akron, Ohio branch and online/mobile platforms.

Product overview

FirstEnergy Family Credit Union operates as a member-owned financial cooperative offering a comprehensive suite of banking products and services. The core portfolio centers on savings products (Share Account, Share Certificates, Club Accounts including Christmas Club, Plan It Save 4 It, and Kids Club), lending products (Vehicle Loans, Home Equity Loans, and Personal Loans), and digital banking services (Online Banking and Mobile Banking). The credit union also provides complementary services including Secure File Upload, Payroll Deduction, and access to GreenPath Financial Wellness counseling through strategic partnerships. All products are designed primarily for FirstEnergy Corp. employees and their family members, with the institution returning earnings to members through favorable rates and low fees.

Differentiator

Problem solved

Functional benefit

Brands

• Kids Club: A fun, educational savings program for children ages 5-12 that teaches money management and credit union familiarity. Includes birthday cards and youth newsletters.
• Christmas Club
• Plan It, Save 4 It Account

Products and services

• Share Account
• Share Certificates
• Club Accounts
• Christmas Club
• Plan It Save 4 It Account
• Kids Club Account
• Vehicle Loans
• Home Equity Loans
• Personal Loans
• Online Banking
• Mobile Banking
• GreenPath Financial Counseling

Named customers1 record

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature3 records

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Broad incumbents

• Connexus Credit Union: Member-owned credit union offering a comprehensive suite of consumer banking products (deposits, auto loans, home equity, digital banking) and operating nationally through digital channels. Comparable product set and cooperative structure with broader geographic reach than FEFCU.
• Alliant Credit Union: Large digital-first credit union offering a broad suite of consumer banking products to a nationwide membership. Comparable as a cooperative competitor pursuing similar share/loan products but with much larger scale and broader geographic reach than FEFCU.
• Digital Federal Credit Union (DCU): Member-owned cooperative credit union offering consumer deposits, vehicle loans, home equity and digital banking to a wide membership base. Overlapping product mix with FEFCU but materially larger asset base and broader membership criteria.

Regional players

• Vystar Credit Union: Florida/North Florida-based credit union providing similar share, vehicle loan and home equity products with digital banking. Comparable in scale and product mix, but focused on a different southeastern geography.
• Suncoast Credit Union: Florida-based community credit union with a similar mix of savings, vehicle loans and home equity products, plus digital banking. Comparable scale tier and product set to FEFCU but serves a different regional market.
• Lake Michigan Credit Union (LMCU): Michigan-based community credit union offering a comparable suite of savings, auto and home equity loans with strong digital banking. Similar asset-scale tier and product overlap, but geographically distinct from FEFCU.
• Affinity Plus Federal Credit Union: Minnesota-based cooperative credit union offering member-owned banking, deposits and consumer loans. Comparable cooperative model and mid-size scale tier, though operating in a different regional market.

Direct peers

• SchoolsFirst Federal Credit Union: Employer-affiliated credit union serving California school employees and their families, with an extended family eligibility rule mirroring FEFCU's multi-generational membership model. Same employer-based cooperative structure with consumer lending and deposit focus.
• First Tech Federal Credit Union: Employer/industry-affiliated credit union serving technology and other member companies with similar product set (savings, auto, home equity, digital banking). Same cooperative ownership and closed/semi-closed field-of-membership structure.
• Boeing Employees Credit Union (BECU): Large employer-affiliated credit union serving Boeing employees and their families with a similar closed field-of-membership model, offering deposits, consumer loans, and digital banking. Closest functional analog to FEFCU's employer-based membership structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/firstenergy-family-credit-union

Compliance3 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 FirstEnergy Family Credit Union