Railway Employees Credit Union

Name

Railway Employees Credit Union

Legal name

Railway Employees Credit Union

Website

https://railwaycreditunion.com

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Community Credit Union Banking

NAICS

Credit Unions (52213)

SIC

Personal Credit Institutions (6141)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

akta.pro secondary industry

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

Keywords

• Retail banking services
• Consumer lending
• Savings accounts
• Credit union services
• Member-owned banking

Headquarters

HQ city

Muscle Shoals

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Others

Revenue model

1. Interest Income - Auto Loans: The credit union generates revenue primarily through interest charged on auto loans. Rates range from 6.00% APR for new vehicles to 8.50% APR for older used vehicles (2016-2017). Loan terms vary from 24-72 months depending on vehicle age.
2. Interest Income - Home Loans: Revenue from mortgage and home equity lending including fixed-rate 15 and 20-year mortgages and variable-rate home equity loans (15-year term).
3. Interest Income - Recreational Loans: Loans for tractors (up to 60 months at 4.99% APR), lawn mowers (up to 48 months at 4.99% APR), motorcycles (up to 60 months at 4.99% APR new, 13.4% APR used), ATVs (up to 48 months at 4.99% APR new, 12.4% APR used), boats, and RVs (up to 10 years at 6.75% APR new, 7 years at 8.50% APR used).
4. Interest Income - Stock and Secured Loans: Norfolk Southern Stock Loan at 6.50% APR for 96 months (75% of stock value), Share Secured Loans at 5.00% APR for 60 months, CD Secured Loans at 5.00% APR for 60 months, and unsecured loans up to 36 months at 18% APR.
5. Fee Income: Fees charged for checking account services including NSF ($45.00), stop payments ($45.00), check copies ($2.00), wire transfers ($30.00), and safe deposit boxes ($45.00-$110.00 annually depending on size).
6. Dividend/Savings Interest Expense: The credit union pays dividends on savings including: 30 Month IRA at 0.25% APY, Six Month CD at 1.00% APY ($2,500 minimum), One Year CD at 2.25% APY ($10,000 minimum), Daily Action at 0.10% APY, and Shares at 0.10% APY. This represents interest expense rather than income.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Railway Employees Credit Union is a member-owned cooperative credit union that provides traditional personal banking products and consumer loans to Norfolk Southern Railway employees, former employees, and their immediate families. Its core offerings include free share draft checking, savings products (Shares, Daily Action, IRAs, CDs), a Christmas Club account, and a wide range of consumer loans including auto loans, fixed-rate mortgages, home equity loans, recreational vehicle loans, share/CD-secured loans, unsecured loans, and a specialized Norfolk Southern Stock Loan. The credit union is federally insured through the NCUA and operates a single physical branch in Muscle Shoals, Alabama, supplemented by online and phone banking.

Product overview

Railway Employees Credit Union offers a comprehensive suite of traditional financial products and services centered around member banking needs. The core offerings include Share Draft Checking (free checking with no minimums and free ATM access), Savings Accounts including IRAs and CDs, and a full range of loan products spanning auto loans, home mortgages, home equity loans, and recreational vehicle loans (tractors, ATVs, boats, RVs, motorcycles). The credit union also provides specialized stock loans for Norfolk Southern Railway employees. Additional services include Christmas Club savings accounts, Safe Deposit Boxes, and an extensive suite of online financial calculators for planning. The institution integrates technology through its online banking platform with 24-hour web and phone access, serving members since 1935 with approximately 1,550 members and $14 million in assets.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Draft Checking Free checking account for members with no minimum balances and no monthly maintenance fees, providing free ATM access and 24-hour web and phone banking for personal banking needs.
• Christmas Club Account Seasonal savings account where funds are automatically disbursed by check on November 15th each year to help members cover holiday expenses.
• Savings Accounts Suite of savings products including Daily Action accounts (0.10% APY), Shares accounts (0.10% APY), IRAs (30 Month IRA at 0.25% APY), and Certificates of Deposit (Six Month CD at 1.00% APY with $2,500 minimum; One Year CD at 2.25% APY with $10,000 minimum).
• Auto Loans Vehicle financing for members purchasing new (current year) automobiles at rates as low as 6.00% APR and used vehicles (2016-2023) at rates ranging from 7.00% to 8.50% APR, with terms of 24-72 months.
• Home Loans Fixed-rate residential mortgage products for members, with 15-year and 20-year fixed-rate terms available at rates disclosed upon request.
• Home Equity Loans Variable-rate home equity loans for existing homeowners, structured with a 15-year term and rate available upon request.
• Recreational Vehicle Loans Financing for tractors (up to 60 months at 4.99% APR), lawn mowers (up to 48 months at 4.99% APR), motorcycles (up to 60 months at 4.99% APR new, up to 36 months at 13.4% APR used), ATVs (up to 48 months at 4.99% APR new, up to 36 months at 12.4% APR used), boats, and RVs (up to 10 years at 6.75% APR new, up to 7 years at 8.50% APR used).
• Secured Loans Share Secured Loans and CD Secured Loans at 5.00% APR for up to 60 months, plus unsecured loans up to 36 months at 18% APR, available to members.
• Norfolk Southern Stock Loan Specialized secured loan product offered at 6.50% APR for 96 months, up to 75% of Norfolk Southern stock value, available exclusively to Norfolk Southern Railway employees.
• Safe Deposit Boxes Secure on-premises storage boxes available in four sizes (3x5, 5x10, 8x10, 10x10) with annual rental fees ranging from $45 to $110 per year depending on size.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Norfolk Southern RailwaycoreOthersNorfolk Southern Railway is the employer whose current and former employees and their families are eligible for Railway Employees Credit Union membership. This is a membership eligibility relationship rather than a formal business partnership. The credit union was established in 1935 specifically to serve railroad employees.

Scale indicators2 records

Recent moves2 records

Broad incumbents

• Georgia's Own Credit Union: Georgia-headquartered credit union originally founded as a workplace credit union and now operating under a broader community charter. Comparable employer-origin DNA, similar product suite, and overlapping southeastern US operating geography.
• Allegacy Federal Credit Union: North Carolina-based employer-affiliated credit union that has expanded into community charter, offering full retail banking including auto, home, and recreational lending. Comparable community/employer cooperative model with similar product suite, but at larger scale.
• Coastal Federal Credit Union: Mid-Atlantic credit union serving employer and community fields of membership with a comparable retail product mix of checking, savings, auto, mortgage, and recreational loans. Comparable model though meaningfully larger in assets and members.
• Truliant Federal Credit Union: Large employer-based credit union originally serving employees of several specific companies, now broadly serving members in multiple states. Comparable employer-model DNA but operates at significantly greater scale with broader branch and digital footprint, representing an aspirational peer.

Direct peers

• Patriot Federal Credit Union: Employer-affiliated credit union serving employees of railroad, transportation, and government-related organizations. Comparable due to occupational field of membership, similar small-to-mid scale, and member-owned cooperative structure offering checking, savings, and consumer lending.
• Local Government Federal Credit Union: North Carolina credit union chartered around a defined occupational field of membership (local government employees). Highly comparable single-occupancy employer-based model with similar deposit and consumer loan products.
• Railroad Workers Credit Union (or similarly named employer rail CUs): Smaller occupational credit unions serving employees of freight and passenger rail operators offer the closest analog to RECU given identical target customer, NCUA oversight, and product mix. They are direct functional peers in the rail-employer credit union niche.
• Railroad & Industrial Federal Credit Union: Federal credit union serving employees of the railroad and transportation industry across multiple rail and industrial employers. Highly comparable to Railway Employees Credit Union given the shared employer-based field of membership, rail worker focus, and similar suite of personal lending and deposit products.

Regional players

• AllSouth Federal Credit Union: South Carolina credit union operating from a southeastern US footprint with the same mix of consumer lending and deposit products as RECU. Comparable retail-banking charter though broader community-based membership.
• Family Trust Federal Credit Union: South Carolina-based community credit union offering a similar full suite of retail banking products (auto, mortgage, recreational, savings, CDs, free checking). Comparable consumer products though wider geographic footprint and different membership basis.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/railway-employees-credit-union

Revenue estimate

Valuation estimate

Number of profiles

Profiles14 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 Railway Employees Credit Union