MEA Financial Services
MEA Financial Services is a privately held, for-profit Michigan firm that provides insurance, retirement, and investment products exclusively to members of the Michigan Education Association and their families, operating through subsidiaries Paradigm Equities and Fairway Investment Group.
- Company typePrivate
- Founded1973
- HeadquartersEast Lansing, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What MEA Financial Services does
MEA Financial Services, Inc. is a private, for-profit financial services firm founded in 1973 and headquartered in East Lansing, Michigan. It operates as the wholly-owned financial services arm of the Michigan Education Association (MEA), the largest teachers union in the state, and serves MEA members, MEA retired members, and their families exclusively. The company delivers its offerings through two wholly-owned operating subsidiaries: Paradigm Equities, Inc. (a FINRA-registered broker-dealer, member FINRA/SIPC, incorporated 1993) for self-directed securities and retirement products, and Fairway Investment Group, LLC (a Michigan Registered Investment Advisor established 2008) for fee-based advisory and portfolio management under a fiduciary standard.
The product set spans personal lines P&C insurance (home, auto, motorcycle, watercraft, umbrella) brokered through carrier partners including Auto-Owners, Progressive, and Citizens; group and individual term life insurance underwritten by Sun Life; a long-term care insurance marketplace operated via LTCI Partners with 12+ carriers; commercial insurance; and MEA-branded Visa credit cards issued through Michigan State University Federal Credit Union. Investment products include 403(b) and 457(b) plans in both Traditional and Roth variants, 529 college savings plans, and Traditional and Roth IRAs. Underlying technology is conventional: a website-based quote-request system (meafs.com), DocuSign-integrated electronic application workflows, a school-district-based "Find My Investment Representative" directory covering 500+ Michigan educational institutions, and standard 128-bit encryption on member data forms.
MEA Financial Services earns revenue primarily through insurance commissions on P&C and life products (carrier-paid), securities commissions and trails through Paradigm Equities, fee-based investment advisory revenue through Fairway Investment Group, and affiliate/referral fees from the MSUFCU credit-card program and the LTCI Partners marketplace. Distribution is a hybrid field-sales model in which registered representatives are physically embedded at K–12 schools, intermediate school districts, colleges, and universities across Michigan, supported by a toll-free call center, email channels routed through mea.org domains, and the company website. The firm employs 11–50 people and is privately held, with no public listing, venture capital, or private equity ownership disclosed.
MEA Financial Services firmographics
Firmographics- Name
- MEA Financial Services
- Legal name
- MEA Financial Services, Inc.
- Website
- https://meafs.com
- Company type
- Private
- Founded year
- 1973
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- MEA Financial Services is a privately held, for-profit Michigan firm that provides insurance, retirement, and investment products exclusively to members of the Michigan Education Association and their families, operating through subsidiaries Paradigm Equities and Fairway Investment Group.
- Ownership category
- akta.pro rank
MEA Financial Services industry classification
Industry- Product category
- Insurance and Retirement Services
- NAICS
- Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Portfolio Management and Investment Advice (523940)
- SIC
- Insurance Agents, Brokers & Service (6411), Investment Advice (6282)
- akta.pro primary industry
- Insurance-Integrated Wealth Managers (RIA + Insurance Solutions) (FSAAACAI)
- akta.pro secondary industries
- Risk Management & Insurance Advisory for Families (FSAAADAK), Tax-Advantaged Investing & Wrappers (ISA, 529, Insurance Bonds, etc.) (FSAAAAAL)
Keywords
Where MEA Financial Services is headquartered
LocationHeadquarters
- HQ city
- East Lansing
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
MEA Financial Services business model
Business model- GTM type
- B2C
- Offering type
- Services
Revenue model
- Insurance Commissions: MEA Financial Services acts as an insurance agency earning commissions on insurance products sold to members, including home and auto insurance, group term life insurance, individual term life insurance, and long-term care insurance. The company also earns referral fees through its LTCI Partners marketplace.
- Securities Brokerage Commissions: Through subsidiary Paradigm Equities, Inc. (FINRA registered broker-dealer), the company earns commissions on investment products including 403(b) plans, 457(b) plans, 529 college savings plans, and IRAs.
- Investment Advisory Fees: Through subsidiary Fairway Investment Group, LLC (Michigan RIA), the company charges fee-based arrangement for investment advisory services including planning and portfolio management.
- Credit Card Referral: MEA Financial Services refers members to MSU Federal Credit Union for MEA Visa Credit Cards, earning referral fees from the credit union partnership.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Group Term Life Insurance - Member coverage up to $500,000 with medical underwriting |
| Other | Monthly | MEA Visa Signature Credit Card - Cash back rewards with no annual fee first year |
| Other | Monthly | MEA Platinum Plus Visa - No annual fees with cash back rewards |
| Other | Monthly | MEA Platinum Visa - Low rate credit card with 0% intro APR |
Go-to-market motion2 records
Distribution channels5 records
Marketing channels5 records
MEA Financial Services product offering
Product offeringCore offering
MEA Financial Services provides insurance and retirement/investment products exclusively to members of the Michigan Education Association (MEA) and their families, operating since 1973 as a for-profit wholly-owned subsidiary. Insurance offerings include homeowners, auto, group/individual term life, long-term care, and commercial insurance, while investment services include 403(b), 457(b), 529 college savings plans, Traditional and Roth IRAs, and fee-based advisory through subsidiaries Paradigm Equities, Inc. (FINRA-registered broker-dealer) and Fairway Investment Group, LLC (Michigan Registered Investment Advisor).
Product overview
MEA Financial Services provides a comprehensive financial services ecosystem for Michigan Education Association members, consisting of insurance products and investment services organized under two primary subsidiaries. Insurance offerings include home and auto insurance, group and individual term life insurance underwritten by Sun Life, long-term care insurance through the LTCI Partners marketplace, commercial insurance (bonds, BOP, commercial auto, umbrella, workers comp), and MEA Visa credit cards through MSUFCU. Investment services are delivered through Paradigm Equities, Inc. (FINRA-registered broker-dealer) for self-directed securities, and Fairway Investment Group, LLC (Michigan RIA) for fee-based advisory management. Retirement planning products include 403(b) and 457(b) plans (Traditional and Roth variants), 529 College Savings Plans, and Traditional and Roth IRAs.
Differentiator
Problem solved
Functional benefit
Products and services
- Homeowners Insurance
Quantifiable outcome
- Over 50 years serving Michigan education employees since 1973
- +1 more outcomes
Companies that use MEA Financial Services
Customer profileNamed customers3 records
Segments3 records
MEA Financial Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration1 record
Feature2 records
MEA Financial Services partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core and minor.
- Fairway Investment Group, LLCcoreFairway Investment Group, LLC is a wholly-owned subsidiary of MEA Financial Services. It is a Michigan Registered Investment Advisor (RIA) established in 2008. The company provides fee-based investment advisory services with fiduciary duty to clients, offering comprehensive financial planning and portfolio management.
- Paradigm Equities, Inc.coreParadigm Equities, Inc. is a wholly-owned subsidiary of MEA Financial Services. It is a FINRA registered broker-dealer, member FINRA/SIPC. Incorporated in 1993, it offers securities to clients and provides investment products including mutual funds, 403(b), 457(b), and other investment programs.
- Sun LifecoreSun Life is the underwriter for MEA Financial Services' Group Term Life Insurance (Group Policy #932162). Sun Life provides the insurance carrier infrastructure while MEAFS serves as the marketing and distribution partner reaching MEA members. The partnership enables guaranteed issue amounts during enrollment periods and medical underwriting for higher coverage amounts.
- LTCI PartnerscoreLTCI Partners operates as MEA's Long Term Care Insurance Marketplace, offering products from multiple carriers including Aetna, Mutual of Omaha, John Hancock, Nationwide, Lincoln, and others. Selected by the Michigan Education Association to help members with long-term care planning. LTCI Partners acts as an agent for select insurance companies.
- Michigan State University Federal Credit Union (MSUFCU)coreMSUFCU administers the MEA Visa Credit Card program on behalf of MEA Financial Services. The credit union provides the financial infrastructure and issues the cards while the MEA brand association drives member adoption. Offers include MEA Visa Signature, MEA Platinum Plus, and MEA Platinum cards with various reward structures.
- Auto-Owners InsurancecoreAuto-Owners Insurance is a primary insurance carrier partner for MEA Financial Services, providing home and auto insurance products to Michigan members. Claims can be reported through MEAFS at 800-292-1950 or directly to Auto-Owners after hours.
- Citizens InsuranceminorCitizens Insurance is an insurance carrier partner for home insurance products offered through MEA Financial Services.
- ProgressiveminorProgressive is an insurance carrier partner for auto insurance products offered through MEA Financial Services.
- Michigan Education Association (MEA)coreMEA is the parent organization and sole owner of MEA Financial Services. The Michigan Education Association is the largest teachers union in Michigan. MEAFS serves as a wholly-owned for-profit subsidiary providing financial services exclusively to MEA members and MEA retired members. MEAFS supports the aims of the MEA organization.
- Michigan Education Special Services Association (MESSA)coreMESSA provides health care benefits to MEA members and their dependents. MEA Financial Services works in close partnership with MESSA to provide an umbrella of security encompassing employment goals, health care, and financial needs for Michigan educational employees.
Scale indicators3 records
Recent moves6 records
Expansion highlights4 records
MEA Financial Services competitors and assessment
Company assessmentBroad incumbents
- Voya Financial: Large diversified financial services firm with a strong education-sector retirement plan business (403(b)/457(b)). Broad incumbent competitor to MEAFS in the education retirement market.
- Massachusetts Mutual Life Insurance (MassMutual): Large mutual insurer with a dedicated education-professionals distribution channel and retirement offerings competing for the same Michigan educator financial-services wallet.
- Lincoln Financial Group: Broad financial services firm offering annuities, life insurance, and retirement plans competing with MEAFS in group life and 403(b) markets.
- Fidelity Investments (Retirement segment): Dominant 403(b) recordkeeper and IRA provider; competing incumbent for the same Michigan educator retirement assets that flow through Paradigm Equities and Fairway Investment Group.
- AXA Equitable: Large insurance and asset management firm with retirement and group benefits offerings competing for the same educator and public-sector customers as MEAFS.
Direct peers
- WEA Member Benefits (Wisconsin Education Association): WEA's for-profit subsidiary providing insurance and financial products to Wisconsin educators. Near-clone of MEA Financial Services' structure for a different state teacher union — direct regional peer.
- TIAA: The dominant not-for-profit financial services provider focused exclusively on the academic, research, and education community. Direct peer in 403(b)/457(b) retirement plans and education-sector advisory.
- Forrest T. Jones & Company: Insurance brokerage and financial services firm specializing in products for educators, union members, and public-sector employees. Comparable business model of distributing insurance and investment products through union/educator channels.
- NEA Member Benefits: National Education Association's member benefits organization offering insurance and financial products to NEA members nationwide. Comparable captive-distribution model through a large teacher union.
- Horace Mann: Provides insurance and retirement products specifically to K-12 educators and their families through educators-focused agents. Closest direct competitor given the shared educator-vertical insurance-and-investment bundling model.
Market position
Strengths4 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
MEA Financial Services social profiles
Digital presenceMEA Financial Services compliance and trust
Trust signalCompliance7 records
MEA Financial Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
MEA Financial Services leadership team
Management profileNumber of profiles
MEA Financial Services subsidiaries and ownership
Company hierarchySubsidiaries2 records
MEA Financial Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
MEA Financial Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about MEA Financial Services
What does MEA Financial Services do?
MEA Financial Services provides insurance and retirement/investment products exclusively to members of the Michigan Education Association (MEA) and their families, operating since 1973 as a for-profit wholly-owned subsidiary. Insurance offerings include homeowners, auto, group/individual term life, long-term care, and commercial insurance, while investment services include 403(b), 457(b), 529 college savings plans, Traditional and Roth IRAs, and fee-based advisory through subsidiaries Paradigm Equities, Inc. (FINRA-registered broker-dealer) and Fairway Investment Group, LLC (Michigan Registered Investment Advisor).
Is MEA Financial Services a public or private company?
MEA Financial Services is a private company. It is currently operating.
When was MEA Financial Services founded?
MEA Financial Services was founded in 1973. It employs 11 to 50 people.
Where is MEA Financial Services based?
MEA Financial Services is headquartered in East Lansing, United States, in the North America region.
How does MEA Financial Services make money?
Four revenue lines are on record. Insurance Commissions are the primary driver. The others are securities Brokerage Commissions, investment Advisory Fees and credit Card Referral.
Who are MEA Financial Services's main competitors?
Broad incumbents on record are Voya Financial, Massachusetts Mutual Life Insurance (MassMutual), Lincoln Financial Group, Fidelity Investments (Retirement segment) and AXA Equitable. Direct peers are WEA Member Benefits (Wisconsin Education Association), TIAA, Forrest T. Jones & Company, NEA Member Benefits and Horace Mann.
Does MEA Financial Services have an API?
No public API is recorded for MEA Financial Services.
What industry is MEA Financial Services in?
MEA Financial Services's product category is Insurance and Retirement Services. Its primary akta.pro industry code is FSAAACAI, Insurance-Integrated Wealth Managers (RIA + Insurance Solutions), with a secondary code of FSAAADAK, Risk Management & Insurance Advisory for Families. Its NAICS code is 5242 and its SIC code is 6411.