Lafayette Federal Credit Union

What Lafayette Federal Credit Union does

Lafayette Federal Credit Union is a federally chartered, not-for-profit cooperative financial institution founded in 1935 and headquartered in Rockville, Maryland. The credit union serves over 57,000 members across the Washington D.C., Maryland, and Virginia metropolitan area through 11 full-service branch locations and a digital banking platform comprising an online banking portal and a BankJoy-powered mobile application for iOS and Android. Membership eligibility extends to all residents of D.C., MD, and VA (expanded in 2012 via the American Consumer Council), select employer groups, and qualifying organizations.

The credit union operates a full-service consumer and small business banking franchise spanning deposit products (checking, savings, money market, share certificates, IRAs), lending products (auto, mortgage, home equity, credit card, personal, commercial/SBA loans), insurance and protection products, and investment services offered through the Lafayette Private Wealth sub-brand in partnership with Raymond James. Underlying technology includes 128-bit SSL and 168-bit encryption for secure transactions, SavvyMoney credit monitoring integrated into digital channels, and BankJoy as the mobile platform provider. Commercial lending operations were modernized through a 2025 partnership with Lenders Cooperative.

Revenue is generated primarily through net interest income on a loan portfolio of $951M funded by a $1.87B share/deposit base, supplemented by transaction fees, insurance commissions, and referral fees from the Raymond James wealth management partnership. As of March 31, 2026, the institution reported $2.15B in total assets and $3.87M in net income. Go-to-market emphasizes community-led acquisition through local sports sponsorships (Washington Spirit, D.C. United), financial literacy workshops, SEG partnerships, and member referral programs.

Name

Lafayette Federal Credit Union

Legal name

Lafayette Federal Credit Union

Website

https://lfcu.org

Company type

Private

Founded year

1935

Operating status

Operating

Headcount range

101–250 employees

Short description

Lafayette Federal Credit Union is a not-for-profit, federally insured cooperative serving 57,000+ members across the D.C., Maryland, and Virginia metro through 11 branches and digital banking. It offers consumer and small business deposits, loans, and wealth management via a Raymond James partnership.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

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

Keywords

• Credit union services
• Retail banking
• Consumer lending
• Business banking
• Wealth management

Headquarters

HQ city

Rockville

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Interest Income from Lending: Primary revenue stream from interest charged on loans including auto loans, home mortgages, home equity loans, credit cards, personal loans, and commercial loans. Credit union returns excess funds to members as increased dividends and reduced loan interest.
2. Share Account Deposits: Members deposit savings into share accounts, share certificates, money market accounts, and IRAs. The credit union uses these deposits to fund loans and generates revenue from the spread between loan interest rates and dividend rates paid to members.
3. Fee Income: Various fees associated with account services, loan processing, and other banking services. Members saved $4.7 million in fees last year according to CUNA Membership Benefits Report.
4. Investment Services Referral: Partnership with Raymond James for investment services. Lafayette Federal receives referral fees when members are referred to Raymond James for investment advisory services, creating a conflict of interest disclosed on the website.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels8 records

Core offering

Lafayette Federal Credit Union is a not-for-profit, member-owned cooperative financial institution founded in 1935, headquartered in Rockville, Maryland, serving the Washington D.C. metropolitan area. It provides personal and business banking products including checking, savings, certificates, money market accounts, mortgages, home equity loans, credit cards, auto loans, personal loans, and commercial loans, alongside investment services offered through Lafayette Private Wealth in partnership with Raymond James. Membership is open to residents of D.C., Maryland, and Virginia, employees of select employer groups, and members of the American Consumer Council.

Product overview

Lafayette Federal Credit Union operates as a not-for-profit financial institution offering a comprehensive suite of banking and financial services. The core product portfolio spans personal and business banking segments including checking, savings, certificates, and money market accounts; mortgage and home equity products; credit cards; auto, personal, and commercial loans; and investment/wealth management services through its Lafayette Private Wealth sub-brand in partnership with Raymond James. Digital banking is delivered via Online Banking (web) and Mobile Banking (iOS/Android via BankJoy), with additional tools like SavvyMoney for credit monitoring. The credit union serves members across Washington D.C., Maryland, and Virginia through 11 branch locations, emphasizing community-focused banking with competitive rates, low fees, and member benefits programs.

Differentiator

Problem solved

Functional benefit

Brands

• Lafayette Private Wealth: Wealth management services provided through partnership with Raymond James for investment services, retirement planning, and financial advisory.

Products and services

• Checking Accounts Personal checking account services including share draft accounts with digital banking access.
• Savings Accounts Savings account products including high-yield savings options with competitive dividend rates, currently at 3.56% APY.
• Certificates (Share Certificates) Share certificate accounts offering guaranteed rates with various term lengths for savings growth, with rates up to 3.76% APY for 1-year terms.
• Money Market Accounts Money market savings accounts providing competitive rates with limited check-writing access.
• Home Buying & Loans (Mortgages) Mortgage lending services including conventional, FHA, and VA loans for home purchases with up to 100% financing options and 30-day close guarantee.
• Home Equity & Loans Home equity lines of credit and loans allowing members to borrow against their home's equity, with rates at 7.50%.
• Credit Cards Mastercard credit cards offering competitive rates with rates starting at 11.65% APR for excellent credit.
• Personal Loans Unsecured personal loans for various needs including debt consolidation and major purchases, with rates as low as 9.99% APR.
• Auto Loans & Car Buying Vehicle financing for new and used cars with competitive rates outperforming national averages, with loans up to $30,000 and 72-month terms at 5.50% APR.
• Classic Car & Restoration Loans Specialized financing for classic car purchases and restoration projects.
• Recreational Vehicle Loans Financing for RVs, boats, and other recreational vehicles.
• Online Banking Digital banking platform providing 24/7 account access, bill pay, fund transfers, and account management through web browser.
• Mobile Banking Mobile app banking for iOS and Android providing 24/7 access to accounts, mobile check deposit, and account alerts via BankJoy platform.
• Business Checking Accounts Business checking accounts with cash management features and relationship checking programs.
• Business Savings Accounts Savings products designed for business financial management.
• Business Credit Card Credit card products tailored for business spending and cash flow management.
• Commercial Loans Commercial lending including SBA loans and conventional business loans, modernized through Lenders Cooperative partnership.
• Business Services Additional business banking services and cash management solutions.
• Employee Banking Services Employee banking programs for Select Employer Groups (SEGs) to provide workplace financial services.
• Investment Services (Lafayette Private Wealth) Wealth management and investment advisory services through partnership with Raymond James, providing retirement planning and investment portfolio management.
• Individual Retirement Accounts (IRAs) Traditional and Roth IRA accounts with fixed and variable certificate options for retirement savings, with rates up to 3.76% APY.
• Education Savings Coverdell Education Savings Accounts for funding educational expenses with tax-advantaged savings.
• Trust Accounts Trust account services for estate planning and asset protection to help members protect their wealth.
• Custodial Accounts Custodial accounts for members with special legal responsibilities to manage funds for beneficiaries.
• Direct Deposit Electronic payroll deposit service for convenient and secure salary crediting.
• Identity Theft Protection Identity theft protection services to safeguard members from fraud and unauthorized account access.

Quantifiable outcome

• Members saved $35.2 million last year; $1,292 annual benefit per member household
• +4 more outcomes

Named customers9 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and minor.

• Washington SpiritcoreGTM or Marketing Partner · 8 April 2026Multi-year Official Credit Union partnership with professional women's soccer team. Includes front-of-training-top sponsorship, member discounts on match days and merchandise, exclusive contests, and 'Goal for a Cause' initiative donating to Children's National Hospital for each home goal scored. Both organizations are deeply tied to the Washington, D.C. metropolitan area.
• D.C. UnitedcoreGTM or Marketing PartnerOfficial Credit Union partnership with professional men's soccer team. Lafayette Federal designated as Official Credit Union of D.C. United.
• Lenders CooperativecoreTechnology or IntegrationPartnership to modernize and enhance commercial lending operations including SBA and conventional loans. Collaboration aims to improve efficiency, increase access to capital for small businesses, and ensure compliance through integrated technology and SBA lending expertise.
• Raymond JamescoreStrategic or Co-development PartnerInvestment services partnership providing Lafayette Private Wealth - an elevated wealth management experience. Raymond James provides industry-leading support, client-focused service, and financial planning resources. Lafayette Federal refers potential clients and receives referral fees, creating a disclosed conflict of interest.
• Children's National HospitalminorGTM or Marketing PartnerBeneficiary of Washington Spirit 'Goal for a Cause' initiative - donations made for each home goal scored by the team during partnership.
• FOX 5 DCminorGTM or Marketing PartnerTelevision partnership for weekly 'Hometown Hero' on-air segments through 2022, spotlighting courage of community activists across Maryland, D.C., and Virginia. Each hero received $100 gift card ($1,000 total gifted).
• American Consumer Council (ACC)coreChannel Partner/ Reseller/ DistributorField of membership expansion through ACC allowing all residents of Washington, D.C., Maryland and Virginia to become members of Lafayette Federal.

Scale indicators16 records

Recent moves10 records

Expansion highlights5 records

Direct peers

• NASA Federal Credit Union: Maryland-headquartered credit union serving NASA employees and the broader DC/MD/VA community after field-of-membership expansion. Directly comparable community credit union with similar deposit, lending, and digital-banking offerings.
• PenFed (Pentagon Federal Credit Union): Large national credit union serving military, government employees, and qualifying members. Operates in the DC metro area with overlapping personal-banking, mortgage, and investment products similar to Lafayette Federal.
• State Department Federal Credit Union: DC-area credit union serving State Department employees and related government affinity groups. Comparable credit-union model with member-base concentration in the DC region and overlapping personal-banking products.
• Congressional Federal Credit Union: DC-area credit union serving employees of Congress, the judiciary, and related organizations. Directly comparable community credit union serving a defined DC-metro membership with similar consumer-lending and deposit products.
• Navy Federal Credit Union: Largest US credit union with over $170B in assets, serving military members and their families across the DC/MD/VA region and nationally. Directly comparable credit-union model with similar deposit, lending, and member-service offerings, but at vastly greater scale.
• Apple Federal Credit Union: Virginia-headquartered credit union serving Northern Virginia and the broader DC metro area. Comparable community credit-union model with overlapping consumer lending, mortgage, and deposit products in the same regional market.
• Fairfax County Federal Credit Union (SkyOne Federal Credit Union): Northern Virginia credit union (formerly Fairfax County FCU) serving the DC metro area. Comparable credit-union model with similar personal and small-business banking products targeting overlapping DMV-area members.
• Northwest Federal Credit Union: Virginia-based credit union serving Northern Virginia/DC metro area members. Directly comparable community credit union with similar field-of-membership structure, deposit products, and consumer lending focus.

Broad incumbents

• Capital One: Major US bank headquartered in McLean, VA — Lafayette Federal's own backyard — with broad consumer and small-business banking across DC/MD/VA. Overlapping retail deposit, credit card, and lending products at much greater scale.

Regional players

• Eagle Bank: Maryland-based community bank serving the DC metro area with consumer and small-business banking. Comparable community-banking focus and regional footprint, but operates as a for-profit commercial bank rather than a credit union.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCtAVcgF8HSKA872b8xe_ahQ
• Facebookfacebook.com/LafayetteFederalCreditUnion
• LinkedInlinkedin.com/company/lafayette-federal-credit-union
• Instagraminstagram.com/lafayettefederal

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 record

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 Lafayette Federal Credit Union