Midland Teachers Credit Union

What Midland Teachers Credit Union does

Midland Teachers Credit Union (MTCU) is a not-for-profit, member-owned credit union founded in 1955 and headquartered at 1505 N. Midland Drive, Midland, Texas. It operates as a community-chartered credit union with a field of membership spanning 11 West Texas counties (Midland, Martin, Glasscock, Andrews, Crane, Ector, Howard, Winkler, Ward, Reagan, Upton) and delivers retail banking through three Midland branches, a Fiserv-powered digital platform branded E*Teller (iOS/Android mobile app plus online banking), MTCULive video/chat support, and the Permian Chapter ATM Alliance for surcharge-free ATM access. MTCU is federally insured by the NCUA and exempt from federal income tax under the Credit Union Membership Access Act.

MTCU's product set spans the standard consumer banking core: deposit products (Kasasa Cash, Kasasa Cash Back, Kasasa Saver, InControl Checking, Fresh Start Checking for credit rebuilders, Share Savings, Money Market, Certificates of Deposit, Traditional and Roth IRAs); lending products (Conventional and FHA mortgages, home equity loans up to 80% LTV with no appraisal under $400,000, new/used auto loans up to 84 months, boat and RV loans, MasterCard credit cards, unsecured Signature loans, LifeLine revolving lines of credit, debt consolidation loans, and Vacation loans); and ancillary services (wire transfers via Catalyst Corporate FCU and Western Union, Remote Deposit Capture, Bill Pay, Zelle P2P, Card Hub debit-card controls, and Credit Sense credit monitoring). Partner-distributed products include Sallie Mae student loans and TruStage insurance (auto, home, accident, life, plus credit life/disability, GAP, and Mechanical Breakdown Protection on loans). Sub-brands such as Spirit Debit Cards (with proceeds routed to MISD, Greenwood ISD, and Ector County ISD) and the ZOO BUCKS financial-literacy program for K-5 students anchor community engagement.

MTCU monetizes primarily through net interest income on loans and deposits, with secondary streams from Visa/MasterCard interchange, overdraft and service fees, wire/Safe Deposit Box charges, and referral commissions from TruStage insurance and Sallie Mae. Pricing is tiered and member-favorable: auto loans from 6.35% APR (new, 84-month), personal loans from 10.25% APR, MasterCard from 10.75-17.75% APR, Kasasa Cash checking up to 1.51% APY on balances under $10K with qualifications, Money Market up to 1.16% APY, and CD terms from 90 days to 60 months. The credit union reports no publicly disclosed financials, no subsidiaries, no parent company, no funding rounds, and no M&A activity; its operating model is structurally capped by its community charter, member-owned governance, and Permian Basin economic exposure.

Name

Midland Teachers Credit Union

Legal name

Midland Teachers Credit Union

Website

https://mtcu.org

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

11–50 employees

Short description

Midland Teachers Credit Union is a not-for-profit, member-owned community credit union founded in 1955, serving 11 West Texas counties from three Midland branches plus a Fiserv-powered mobile and online banking platform with deposits, consumer loans, mortgages, and credit cards.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Card Issuing (52221)

SIC

National Commercial Banks (6021), Personal Credit Institutions (6141)

akta.pro primary industry

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

akta.pro secondary industry

Student Credit Cards (FSAKABAG)

Keywords

• Retail banking services
• Consumer lending
• Mortgage lending
• Credit union services
• Deposit accounts

Headquarters

HQ city

Midland

HQ country

United States

HQ region

North America

Offices4 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: MTCU earns interest revenue from loan products including auto loans, mortgages, home equity loans, personal loans, and credit cards. As a not-for-profit credit union, excess earnings are returned to members through lower loan rates and higher savings dividends.
2. Savings/Investment Products: Dividend payments to members on savings accounts, money market accounts, IRAs, and certificates of deposit. Rates vary by account type and balance tier.
3. Fee-based Services: Various service fees including overdraft fees, wire transfer fees, ATM fees outside alliance network, safe deposit box rental, and other account service charges.
4. Card Interchange: Interchange fees from Visa debit and credit card transactions
5. Insurance Products: Commission revenue from TruStage insurance products including auto, home, accident, and life insurance offered to members

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Midland Teachers Credit Union is a not-for-profit, member-owned credit union that delivers consumer banking products and lending services to individuals and families in 11 West Texas counties. Its core offering includes deposit accounts (checking, savings, money market, CDs, IRAs), consumer loans (auto, boat/RV, personal, signature, debt consolidation, vacation, life line of credit, home equity), mortgages (conventional and FHA), MasterCard credit cards, Spirit debit cards, and digital banking (online, mobile, Zelle, MTCULive video/chat), supported by Fiserv-powered infrastructure.

Product overview

Midland Teachers Credit Union (MTCU) is a not-for-profit credit union offering a comprehensive suite of banking products and services primarily serving members in Midland, Texas and surrounding counties. The product portfolio centers on deposit products (checking accounts, savings accounts, Money Market, Certificates of Deposit, IRAs) and lending products (mortgages, home equity loans, auto loans, personal loans including Signature, LifeLine, Debt Consolidation, and Vacation loans, plus MasterCard credit cards). Digital banking is delivered through a Fiserv-powered platform (E*Teller) with mobile apps for iOS and Android. The credit union differentiates through rewards programs including Kasasa Cash, Kasasa Cash Back, and Kasasa Saver checking accounts, along with community-focused products like Spirit Debit Cards supporting local schools and ZOO BUCKS financial education for children. Core services include online and mobile banking with Zelle integration, bill pay, wire transfers, Remote Deposit Capture, and insurance products through TruStage partnerships.

Differentiator

Problem solved

Functional benefit

Brands

• ZOO BUCKS: A kids club program for elementary students in grades K-5th grade to learn money skills and receive a free savings account.
• Kasasa
• Spirit Cards
• LifeLine Loans
• Home Equity Loans

Products and services

• Kasasa Cash Checking Rewards checking account that earns dividends on balances when members meet monthly qualifications including 12 debit card transactions, one ACH deposit or withdrawal, and E-Statements enrollment. Includes nationwide ATM fee refunds up to $25 and is targeted at consumer members seeking high-yield everyday checking.
• Kasasa Cash Back Checking Rewards checking account that pays 3% cash back on monthly debit card purchases up to $250 and includes nationwide ATM fee refunds up to $25. Designed for consumer members who use debit cards frequently and want tangible cash-back rewards rather than dividend yield.
• Kasasa Saver Companion savings account to Kasasa Cash and Kasasa Cash Back checking accounts that earns a higher yield when linked-account qualifications are met, with no monthly maintenance fees or minimum balance requirements. Targets members who already hold a Kasasa checking product.
• InControl Checking Basic, no-frills checking account with a service fee waived when the member signs up for E-Statements or completes six debit card transactions per month. Targeted at members seeking a low-cost standard checking account without rewards requirements.
• Fresh Start Checking Second-chance checking account designed for members rebuilding credit, with a low monthly service fee, $100 minimum opening deposit, and a direct deposit requirement. After 12 months in good standing, members can upgrade to a free Kasasa rewards account.
• Share Savings Primary share savings account requiring a $25 opening deposit and $100 minimum balance to earn dividends. Membership in the credit union requires opening this account, making it the foundational savings product for all members.
• Money Market High-yield money market savings account with a $2,500 minimum opening deposit, daily dividend computation and monthly payment, and no fees when minimum balance is maintained. Tiered APY up to 1.16% on balances of $99K or more.
• Certificate of Deposit Time deposit product with terms ranging from 90 days to 5 years, a $1,000 minimum opening deposit, auto-renewal at maturity with a 10-day grace period, and rates that are updated weekly. Available to consumer members seeking higher guaranteed returns in exchange for term commitment.
• IRA Savings Individual Retirement Account offering Traditional and Roth options with tiered dividends up to 0.84% APY on balances of $99K or more, paid monthly. Traditional contributions may be tax-deductible and Roth withdrawals are tax-free.
• Special Savings Goal-based savings account allowing members to maintain multiple sub-accounts tied to specific financial targets and to set up automatic scheduled deposits from their checking account. Designed for members building targeted savings for specific purposes.
• ZOO BUCKS Kids Club Financial education program for elementary students in grades K-5, including a free savings account and interactive money-skills curriculum delivered through the MTCUZOOBUCKS.org website. Launches in May 2025 to introduce children to saving and financial literacy.
• MasterCard Credit Card MasterCard credit card with tiered APRs as low as 10.75% (Tier 1), 13.75% (Tier 2), and 17.75% (Tier 3). No annual maintenance fees, balance transfer fees, or cash advance fees. Includes extended warranties, purchase protection, and fraud protection services.
• Spirit Debit Card Visa debit card with Instant Issue availability. The Spirit Card program donates a portion of member purchases to local school districts (Midland ISD, Greenwood ISD, and Ector County ISD) for books, supplies, and student activities, and is managed through the Card Hub tool in the mobile app.
• Conventional and FHA Mortgage Home purchase and refinance mortgage loans underwritten and serviced locally, offering conventional and FHA financing with 10-, 15-, 20-, 25-, or 30-year terms and down payment options as low as 3.5%. Targeted at consumer members in the service area buying or refinancing a primary residence.
• Home Equity Loans Home equity loan product allowing members to borrow against the value of their home up to 80% of assessed value minus mortgage balance, with terms up to 30 years and no appraisal required on loans under $400,000. Targeted at homeowners seeking cash-out or home improvement financing.
• New and Used Car Loans Auto financing for new and pre-owned vehicles with terms from 24 to 84 months, APRs as low as 6.35% for new vehicles and 6.85% for used vehicles, and refinancing options for existing auto loans from other lenders.
• Boat and RV Loans Financing for recreational vehicles including RVs, campers, motor homes, boats, and jet skis. Pre-owned vehicles must be titled and less than seven years old, with flexible repayment terms available.
• Signature Loans Unsecured personal loan requiring no collateral, available in fixed and variable rate options with APRs as low as 10.25% and terms up to 60 months. Ideal for renters, non-homeowners, and members with good credit seeking flexible funds.
• LifeLine Loans Revolving line of credit that can be accessed repeatedly after a single initial approval, with no collateral required. Apply once and use the line repeatedly for emergencies or everyday expenses without needing additional loan officer approval.
• Debt Consolidation Loans Loan product that consolidates high-interest debt from credit cards and other sources into a single payment with competitive rates and flexible repayment plans to fit various budgets.
• Vacation Loans Personal loan earmarked for travel and vacation expenses, with flexible repayment plans for any budget to make travel destinations more affordable.
• Sallie Mae Student Loans Student loan product offered through a Sallie Mae partnership, featuring competitive interest rates, multiple loan options, no origination fees, and no prepayment penalties. Marketed to members and their families seeking education financing.
• Online Banking 24/7 internet banking platform (E*Teller) for account management, bill pay, fund transfers, loan payments, direct deposit monitoring, and E-Statement access, accessible from any web browser.
• Mobile Banking Mobile banking app for iOS and Android that provides account access, fund transfers, bill payments, Remote Deposit Capture, debit card management through Card Hub, Zelle person-to-person payments, and Credit Sense credit monitoring.
• Wire Transfers Domestic and international wire transfer service including incoming, outgoing, and Western Union options, processed through Catalyst Corporate FCU. Targeted at members needing same-day funds movement domestically or internationally.
• Bill Pay Online bill payment service through the E*Teller platform that offers one-time and recurring payments for individuals and businesses, with electronic or check payment options at no cost.
• Remote Deposit Capture Mobile check deposit service allowing members to photograph and submit checks through the MTCU mobile app, requiring enrollment in online banking and the mobile app. Targeted at members wanting to deposit checks without visiting a branch.
• Safe Deposit Box Secure storage box in the vault at the Midkiff Rd and Midland Dr branch locations, available in various sizes with annual automatic renewal for storing documents, pictures, and valuables.
• TruStage Insurance Third-party insurance products offered through a TruStage partnership, including auto, home, accident, and life insurance for credit union members. MTCU earns commission revenue on these referrals.

Quantifiable outcome

• Auto loan rates as low as 6.35% for new vehicles
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core, supporting and minor.

• ZellecoreTechnology or IntegrationMTCU partners with Zelle to offer fast, secure person-to-person money transfers. Members can send money directly from their MTCU account to enrolled recipients in minutes through online banking or mobile app.
• Sallie MaecoreChannel Partner/ Reseller/ DistributorMTCU offers Sallie Mae student loans to members with competitive interest rates, no origination fees, and no prepayment penalties. Sallie Mae is marketed as a partner product for education financing.
• TruStage InsurancesupportingGTM or Marketing PartnerTruStage Insurance offers auto, home, accident, and life insurance products to MTCU members. Members who receive TruStage correspondence can contact TruStage support at 855-728-5210.
• FiservcoreTechnology or IntegrationFiserv powers MTCU's mobile banking app and digital banking infrastructure. The partnership provides online banking, mobile banking, and technology platform services.
• Permian Chapter ATM AlliancesupportingChannel Partner/ Reseller/ DistributorATM alliance providing surcharge-free ATM access to MTCU members at participating credit unions and ATMs throughout the region.
• KasasacoreGTM or Marketing PartnerKasasa rewards checking and savings program offering cash back, high-yield savings, and ATM fee refunds when members meet qualification requirements.
• Credit SensesupportingTechnology or IntegrationCredit score monitoring and management tool available through MTCU online and mobile banking. Helps members track credit scores and manage payoff plans.
• Heritage USA FCUminorChannel Partner/ Reseller/ DistributorPart of the Permian Chapter ATM Alliance network, providing surcharge-free ATM access to MTCU members at their branch locations.

Scale indicators4 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• BCU (Baxter Credit Union): Mid-sized community-charter credit union offering checking, savings, consumer lending, mortgages, and digital banking on a not-for-profit basis. Closely comparable operating model and product mix to MTCU's member-focused structure.
• First Basin Credit Union: Community credit union headquartered in the Permian Basin (Odessa/Midland, Texas) serving the same West Texas counties as MTCU with deposits, consumer loans, and mortgages. Direct geographic and product overlap makes it the closest comparable for share-of-market analysis in the region.
• Heritage USA Federal Credit Union: Small West Texas credit union that is part of the same Permian Chapter ATM Alliance as MTCU. Comparable asset size, branch density, and regional focus, making it a useful peer for local market benchmarking.

Regional players

• Firstmark Credit Union: Texas-based community credit union serving San Antonio and surrounding areas with consumer and business banking products. Comparable community-charter model and product set, with operating overlap in shared Texas markets.
• TDECU (Texas Dow Employees Credit Union): Texas-headquartered community credit union offering deposits, consumer lending, mortgages, and digital banking to employer and community-chartered members. Comparable operating geography, member-based governance, and product set to MTCU.
• Security Service Federal Credit Union: Large Texas-based community credit union serving members across the state with a similar product mix (checking, savings, auto, mortgage, HELOC) and a comparable community-charter structure. Relevant for benchmarking scale, digital capabilities, and rate competitiveness within Texas.

Broad incumbents

• Alliant Credit Union: National community-chartered credit union offering consumer deposits, auto loans, mortgages, and credit cards across most U.S. states. Compares to MTCU in product breadth and member-owned model, but at materially larger scale and digital reach.
• Randolph-Brooks Federal Credit Union (RBFCU): One of the largest U.S. credit unions, Texas-based, with a broad community-charter expansion and a full suite of consumer and mortgage products. Larger scale incumbent operating under the same federal regulatory framework (NCUA) as MTCU.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/MTCUCreditUnion
• Instagraminstagram.com/mtcucares
• Xx.com/MTCUCreditUnion

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 Midland Teachers Credit Union