FirstEnergy Choice Federal Credit Union

What FirstEnergy Choice Federal Credit Union does

FirstEnergy Choice Federal Credit Union is a federally chartered, member-owned not-for-profit credit cooperative founded in 1935 and headquartered in Greensburg, Pennsylvania. The institution serves a defined field of membership consisting of current and former employees of FirstEnergy Corp. and Allegheny Energy, Inc., along with their immediate family members (spouse, child, parent, sibling, stepchild, stepparent, grandchild, grandparent). Operating from a single physical branch at 161 Old Route 30, Suite 2, the credit union delivers a full suite of retail banking products: share savings, share draft (checking), share certificates (3-60 month terms), traditional and Roth IRAs, Christmas Club, vehicle loans (cars, trucks, motorcycles, ATVs, UTVs), home equity loans and HELOCs, personal/signature loans, share-secured loans, and a Visa credit card paired with a Visa debit card.

The technology stack is built on standard credit union infrastructure rather than proprietary platforms. Core systems include the It'sMe247 online banking platform running on Financial-Net infrastructure, Loanliner for digital loan origination, and ezCardInfo for Visa credit card servicing. The proprietary-branded FE CHOICE FCU mobile application (available on iOS and Android) supports mobile check deposit up to $2,500 per check with same-evening fund availability for deposits made before 2 PM EST, fund transfers, balance viewing, and eStatement access. Member access is augmented nationally by over 55,000 surcharge-free ATMs via the Allpoint, MoneyPass, and Credit Union Surcharge-Free networks, supplemented by retail partner ATMs at GetGo, Sheetz, Royal Farms, Rutter's, and Wawa convenience stores.

Revenue is generated through net interest spread on the lending portfolio (vehicle loans as low as 4.24% APR, home equity 5.49% APR, personal loans 9.24% APR, share-secured 3.74% APR, Visa 8.90% APR), dividend spread on deposits (0.20% APY share savings up to 2.27% APY on 60-month certificates), transaction and service fees (overdraft transfer $15, NSF $20, wire transfers $10, certified checks $5, stop payment $6), and affiliate referral income from TruStage insurance products and Sallie Mae Smart Option Student Loans. The credit union is governed by a volunteer Board of Directors under Chairperson Yvonne Phillips with day-to-day operations led by President/CEO Diane Momeyer, supported by COO Terry Ryan and CFO Brenda Dils, and regulated federally by the NCUA.

Name

FirstEnergy Choice Federal Credit Union

Legal name

FirstEnergy Choice Federal Credit Union

Website

https://fechoice.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

11–50 employees

Short description

FirstEnergy Choice Federal Credit Union is a federally chartered, not-for-profit member-owned credit cooperative founded in 1935 in Greensburg, Pennsylvania, serving FirstEnergy Corp. and Allegheny Energy employees, retirees, and their immediate family members with deposit accounts, consumer loans, and digital banking services.

Ownership category

akta.pro rank

Product category

Retail Banking / Credit Union Services

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)

Keywords

• Credit union services
• Consumer banking products
• Vehicle loan financing
• Share savings accounts
• Personal lending

Headquarters

HQ city

Greensburg

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 earned on vehicle loans (as low as 4.24% APR), home equity loans (5.49% APR), personal loans (9.24% APR), share secured loans (3.74% APR), and Visa credit cards (8.90% APR)
2. Deposit Interest Spread: Credit union pays dividends on savings (0.20% APY), Christmas Club (0.20% APY), IRA savings (0.40% APY), and certificates (0.20%-2.27% APY depending on term), earning spread on lending activities
3. Fee-based Services: Overdraft transfer fees ($15), NSF fees ($20), certified checks ($5), stop payments ($6), wire transfers ($10 incoming, varying outgoing), ATM overnight delivery ($35), research fees ($25/hour), and various account service fees
4. Insurance Products (Referral): Referral fees from TruStage Insurance Agency for auto, home, life, and AD&D insurance products offered to members
5. Student Loan Referral: Referral compensation from Sallie Mae for Smart Option Student Loan products originated through the credit union

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels5 records

Core offering

FirstEnergy Choice Federal Credit Union is a federally chartered, member-owned not-for-profit credit union that provides savings accounts, checking, IRAs, share certificates, vehicle loans, home equity loans, personal loans, share secured loans, Visa credit and debit cards, insurance referrals, and student loan referrals to employees, retirees, and family members of FirstEnergy Corp. and Allegheny Energy, Inc. Members are served through one Greensburg, PA branch, online and mobile banking, and more than 55,000 surcharge-free ATMs.

Product overview

FirstEnergy Choice Federal Credit Union offers a comprehensive suite of financial products and services centered around traditional banking. The core offerings include Share Savings and Share Draft (Checking) accounts, Share Certificates (CDs), IRA accounts, and specialized savings accounts like Christmas Club. The loan portfolio encompasses Vehicle Loans (cars, trucks, motorcycles, ATVs, UTVs, recreational vehicles), Home Equity Loans (closed-end fixed rate and lines of credit), Personal/Signature Loans, Share Secured Loans for credit building, and a Smart Option Student Loan referral through Sallie Mae. Credit card services include a Visa Credit Card with ScoreCard Rewards and a Visa Debit Card with surcharge-free ATM access. Additional offerings include Debt Protection with Life Plus, insurance products through TruStage, GAP Plus vehicle protection, and full mobile/online banking capabilities with mobile deposit functionality.

Differentiator

Problem solved

Functional benefit

Products and services

• Share (Savings) Account Primary savings account with $25 minimum deposit required for membership and ownership, paying 0.20% APY, with unlimited account access through online banking and dividend rates subject to change.
• Share Draft (Checking) Account with Visa Debit Card Checking account with no minimum balance, no monthly fees, unlimited check writing, free first 40 checks, and a Visa Debit Card with access to over 55,000 surcharge-free ATMs and daily limits of $1,000 signature-based and $510 PIN-based transactions.
• Christmas Club Account Savings account for holiday expenses with $5 minimum opening deposit, 0.20% APY, quarterly dividend crediting, automatic balance transfer to share savings in October, and a $5 fee for early withdrawal before October 1st.
• IRA (Traditional & Roth) Savings & Certificates Individual Retirement Accounts offered in Traditional or Roth versions as savings (0.40% APY) or share certificates, with NCUA insurance up to $250,000 and competitive dividends.
• Share Certificates (CDs) Certificate of deposit products with terms from 3 months to 60 months, interest rates from 0.20% to 2.27% APY compounded monthly, and a $500 minimum deposit.
• Visa Credit Card Credit card with 8.90% APR on purchases, cash advances, and balance transfers, no annual fee, no balance transfer fee, 25-day grace period, credit limit up to $10,000, and ScoreCard Rewards points on every purchase.
• Vehicle Loans Vehicle financing for cars, trucks, motorcycles, ATVs, UTVs, and recreational vehicles with rates as low as 4.24% APR (6.74% APR for motorcycles/ATVs/UTVs), terms based on vehicle age, and 0.50% APR direct deposit discount; includes purchase, refinance, and Swap & Rate Drop options.
• Home Equity Loans and Lines of Credit Closed-end fixed rate home equity loans (starting at 5.49% APR) and variable/fixed rate home equity lines of credit (starting at 6.60% APR with direct deposit) for borrowing against home equity, with terms up to 15 years and minimum loan of $5,000.
• Personal/Signature Loans Unsecured personal loans for vacations, weddings, home improvements, and debt consolidation with rates as low as 9.24% APR and terms up to 5 years.
• Share Secured Loans Loans secured by the member's savings account balance for credit building, with rates as low as 3.74% APR, terms up to 5 years, and savings remaining intact during the loan term.
• Smart Option Student Loan (Sallie Mae referral) Student loan referral program through Sallie Mae for members attending degree-granting institutions, featuring multiple repayment options, no origination fees, and competitive fixed and variable rates.
• Insurance Products (TruStage referral) Insurance products referred through TruStage Insurance Agency, including Auto, Home, Life, and Accidental Death & Dismemberment coverage offered at competitive rates.
• Mobile/Online Banking Digital banking platform providing iOS and Android mobile app access, mobile check deposits up to $2,500 per check, online account management, fund transfers, stop payments, and electronic statements via the It'sMe247 platform.

Quantifiable outcome

• Vehicle loan rates as low as 4.24% APR
• +4 more outcomes

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature3 records

Partnerships

Six partnerships are on record, tiered core.

• TruStage Insurance Agency, LLCcoreStrategic or Co-development PartnerTruStage provides insurance products including auto, home, life, and AD&D insurance to FirstEnergy Choice FCU members. The partnership offers competitive rates and quality products trusted by the credit union. Life and AD&D: 1-855-612-7909, Auto & Home: 1-888-380-9287.
• Sallie MaecoreGTM or Marketing PartnerSallie Mae's Smart Option Student Loan is offered through FirstEnergy Choice FCU for members attending degree-granting institutions. The loan features multiple repayment options, no origination fees, and competitive fixed/variable rates. FirstEnergy Choice FCU receives referral compensation for student loan customers.
• AllpointcoreTechnology or IntegrationAllpoint network provides surcharge-free ATM access for FirstEnergy Choice FCU members. Members can withdraw cash at Allpoint ATMs nationwide with no fees from the credit union.
• Credit Union Surcharge-Free Network (CU$)coreTechnology or IntegrationCU$ network provides surcharge-free ATM access including both withdrawals and deposits for FirstEnergy Choice FCU members.
• MoneyPasscoreTechnology or IntegrationMoneyPass network provides surcharge-free ATM access including both withdrawals and deposits for FirstEnergy Choice FCU members.
• ScoreCard RewardscoreTechnology or IntegrationScoreCard Rewards program allows Visa credit card holders to earn bonus points on every purchase. Members earn 1 point per $1 spent, redeemable for merchandise, travel, and other rewards at www.scorecardrewards.com.

Scale indicators3 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Ameren Credit Union: Occupational federal credit union serving Ameren Corporation employees and their families in Missouri and Illinois, with a product set analogous to FirstEnergy Choice FCU's savings, lending, and digital banking offerings.
• Duke Energy Credit Union: Occupational federal credit union serving Duke Energy employees and family members, providing deposit accounts, consumer loans, and digital banking — a near-mirror of FirstEnergy Choice FCU's employer-based structure.
• Consumers Energy Credit Union: Occupational credit union serving Consumers Energy employees and family members in Michigan, offering savings, vehicle loans, and mortgage products on a similar member-owned cooperative model.
• Dominion Energy Credit Union: Occupational credit union serving Dominion Energy employees, retirees, and families across multiple states, with a comparable mix of deposit, vehicle, and home equity lending products.
• DTE Energy Community Credit Union: Occupational federal credit union serving DTE Energy employees, retirees, and families with deposit, lending, and digital banking products. Highly comparable employer-tied utility credit union model.

Broad incumbents

• Alliant Credit Union: Large national occupational and digital credit union serving employees of many sponsoring organizations plus their families. Useful comparable for digital product roadmap and member acquisition mechanics, though materially larger in scale.

Others

• Connexus Credit Union: Large multi-SEG credit union offering a full digital banking and consumer lending suite. Comparable as a benchmark for digital product depth, pricing, and ATM/online member experience, even though it operates with a broader field of membership.

Regional players

• Clearview Federal Credit Union: Western Pennsylvania-based community credit union serving a broader geographic membership around Pittsburgh. Comparable regional footprint and digital banking approach, but with an open community rather than employer-defined field of membership.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/squarespace
• Instagraminstagram.com/squarespace
• LinkedInlinkedin.com/company/firstenergy-choice-federal-credit-union

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 FirstEnergy Choice Federal Credit Union