Mercy Federal Credit Union

What Mercy Federal Credit Union does

Mercy Federal Credit Union (MFCU) is a federally chartered, member-owned credit union headquartered at 11705 Mercy Blvd, Savannah, Georgia. It was chartered on April 12, 1976 with fourteen employees of St. Joseph Hospital as the founding members and has operated continuously since under the supervision of the National Credit Union Administration (NCUA), with member deposits insured up to $250,000. Membership eligibility is restricted to employees of the St. Joseph's/Candler Hospital system, defining a narrow, single-employer field of membership. The institution operates two physical locations — the Main Office on Mercy Blvd and a satellite office located inside the Candler Hospital hallway near the cafeteria — placing branch access directly on the employer's premises.

The credit union's product set is a standard consumer retail banking suite: dividend-bearing share (savings) accounts including Christmas Club and Vacation Account variants; free checking accounts with no maintenance fees and a free first check order; certificates of deposit; and a loan portfolio anchored by auto loans (rates as low as 4.9% APR; standard 5.99% APR for qualifying borrowers), personal loans, credit builder loans, and mortgages originated via a referral partnership with OurMortgageTeam.org. Ancillary services include GAP insurance, extended warranties with $0 deductibles for covered members, wire transfers, notary services, direct deposit, and an after-hours lost/stolen card line. The technology stack is largely outsourced: digital banking is powered by HomeCU, which also delivers the secure loan application portal at my.homecu.net; the CULiance network provides ATM locator functionality; and mobile apps are published on iOS (App Store ID 1461500276) and Android (com.homecu.mercy). The credit union also partners with CreditUnionSvc.com for vehicle buying services tied to auto loan origination.

Revenue mechanics are typical for a small cooperative depository institution: net interest income on the loan portfolio, primarily auto and unsecured personal, supplemented by fee income from a $20 loan application fee, $8 penalties on share account withdrawals exceeding four per quarter, and interchange from the VISA Check Card. Marketing and member acquisition rely on a community-led model — word-of-mouth within the St. Joseph's/Candler employee base, a $20 bilateral referral program, a Facebook presence, and proximity of branches to hospital facilities. Mortgage and auto-buying services are not delivered in-house but through referral partners. Revenue is not publicly disclosed and no funding, M&A, expansion, or hiring activity is recorded in the available data.

Name

Mercy Federal Credit Union

Legal name

Mercy Federal Credit Union

Website

https://www.mercyfcu.org

Company type

Private

Founded year

1976

Operating status

Operating

Short description

Mercy Federal Credit Union is a federally chartered, member-owned credit union in Savannah, Georgia serving employees of the St. Joseph's/Candler Hospital system with savings, checking, CDs, auto and personal loans, and digital banking.

Ownership category

akta.pro rank

Product category

Credit Union Consumer Banking

NAICS

Credit Unions (52213), Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Employer/Occupational Credit Unions (FSABAEAB)

Keywords

• Credit union services
• Consumer savings accounts
• Consumer loan products
• Mobile banking services
• Member-owned banking

Headquarters

HQ city

Savannah

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Loan Products: Interest income from auto loans, mortgages, personal loans, and credit builder products. Auto loans offered at rates as low as 4.9% APR for qualifying borrowers, and 5.99% for other qualifying borrowers. Mortgages and personal loans also offered.
2. Deposit Account Fees and Penalties: Fees collected from account services including $8.00 penalty per withdrawal for share accounts exceeding 4 withdrawals per quarter limit. Also includes Visa Check Card services and $20 application fee for loans.
3. Checking Account Services: Provides checking accounts with no maintenance fees or per check charges. First order of checks free. Cash withdrawals up to $1,000. These are non-dividend bearing accounts.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels4 records

Core offering

Mercy Federal Credit Union is a member-owned, not-for-profit financial cooperative chartered in 1976 that provides consumer banking products to employees of the St. Joseph's/Candler Hospital system. It offers share savings accounts, checking accounts, certificates of deposit, and consumer loan products (auto loans, mortgages, personal loans, and credit builder loans), delivered through two on-site branches in Savannah, Georgia, plus mobile and online banking channels.

Product overview

Mercy Federal Credit Union operates as a single-institution credit union offering a unified suite of financial products and services. The core portfolio includes share savings accounts (Share Accounts, Christmas Club, Vacation Club), checking accounts, CD rates, and loan products (Auto Loans, Mortgages, Personal Loans, Credit Builder). Supporting services include Mobile Banking, Online Bill Pay, Direct Deposit, Wire Transfers, ATM Locator, and Financial Calculators. Additional member services encompass GAP Insurance, Extended Warranties, VISA Check Card, Notary Public, and a Member Referral Program. The credit union also provides a Secure Loan Application platform for digital loan submissions. All products are delivered through the credit union's main office and branch locations, with mobile and online banking channels for remote access.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Savings Account Member savings account automatically opened upon joining the credit union, earning competitive dividends on the average daily balance, with a quarterly limit of 4 withdrawals and an $8 penalty per excess withdrawal.
• Christmas Club Account Special-purpose holiday savings account for members, with withdrawals restricted to the November 1 to December 31 window each year.
• Vacation Account Goal-based personal savings account with no withdrawal restrictions, allowing members to withdraw at any time.
• Free Checking Account Non-dividend-bearing checking account with no maintenance fees or per-check charges, free first order of checks, cash withdrawals up to $1,000, and an optional Visa Check Card.
• Certificates of Deposit Term-deposit (CD) savings products with competitive rates, with full rate terms disclosed on the credit union's rates page.
• Auto Loans Vehicle financing for new and used cars at APRs as low as 4.9% for qualifying borrowers (5.99% standard), with optional GAP insurance and extended warranty add-ons.
• Mortgages Home mortgage loans delivered in partnership with a trusted mortgage company (OurMortgageTeam.org) to help members reach their homeownership goals.
• Personal Loans General-purpose unsecured personal loans for members to meet a variety of financial needs, applied for online or in branch.
• Credit Builder Loan Loan product designed to help members establish or improve their personal credit history.
• Mobile Banking Native iOS and Android applications (Mercy Federal Mobile) enabling members to securely view accounts, transfer funds, pay bills, deposit checks, and locate ATMs.
• Online Bill Pay Electronic bill payment service accessed through online and mobile banking.
• Direct Deposit Electronic deposit service for accounts and loans, enabling automatic income deposits and loan payment processing.
• Wire Transfers Electronic money transfer service for sending funds to other financial institutions.
• VISA Check Card Debit card linked to the member's checking account for purchases and cash withdrawals, with 24/7 lost/stolen reporting via 1-800-472-3272.
• GAP Insurance Guaranteed Asset Protection insurance offered on loans to cover the gap between the vehicle's value and the outstanding loan balance.
• Extended Warranties Extended warranty service attached to loans featuring $0 deductibles for covered members.
• Notary Public Service Free notary public service available to credit union members.

Named customers1 record

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

Four partnerships are on record, tiered core and minor.

• St. Joseph's/Candler Hospital SystemcoreStrategic or Co-development Partner · 12 April 1976The credit union was originally chartered with hospital employees as charter members and continues to serve exclusively as the primary membership base. The hospital system is the founding and ongoing partner, with branches located on hospital premises. Sister M. Cornile, RSM from the hospital assisted with obtaining the charter.
• HomeCUcoreTechnology or IntegrationHomeCU provides the online banking platform powering mercyfcu.org and member account access. They also provide the secure loan application system at my.homecu.net. The credit union website states it is Powered By HomeCU.
• OurMortgageTeam.orgminorChannel Partner/ Reseller/ DistributorReferral partnership for mortgage services. The credit union website states 'Partnering with our trusted mortgage company to help credit union members reach their personal homeownership goals.' Members are directed to the partner site to get started on mortgage applications.
• CreditUnionSvc.comminorChannel Partner/ Reseller/ DistributorVehicle buying service partner providing auto loan financing and vehicle search tools for credit union members seeking car purchases.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Broad incumbents

• Alliant Credit Union: A large digital credit union with an open, affinity-based membership charter. Comparable consumer deposit and loan products, and a potential alternative destination for Mercy members seeking broader digital capabilities.
• Bellco Credit Union: A Colorado-based community credit union with a full consumer banking suite. Comparable product breadth (deposits, auto loans, mortgages, credit cards) and member-owned cooperative structure.
• Lake Michigan Credit Union: A large community-charter credit union offering consumer deposits, mortgages, and consumer loans. Comparable core product set; serves as a benchmark for what a scaled, digitally enabled credit union can offer Mercy's target member.
• SchoolsFirst Federal Credit Union: One of the largest employer-based credit unions in the U.S., serving California school employees. Comparable employer/occupational charter model with similar mission of returning earnings to members, but at materially greater scale and broader product set.
• Service Credit Union: A large credit union with an occupational/affinity charter serving military, civilian, and affinity groups. Comparable community/employer-led GTM and full suite of consumer banking products, but operates at significantly larger scale.
• Connexus Credit Union: A digital-first credit union offering consumer deposits, consumer loans, and mortgage products nationwide. Comparable core product mix, but competes with Mercy for member share-of-wallet through superior digital experience and broader charter.
• America First Credit Union: One of the largest U.S. credit unions with a broad community charter. Competes with Mercy for consumer banking share in the broader region through a much larger branch and digital footprint.

Others

• CUNA Mutual Group (TruStage): A financial services provider to the credit union industry offering lending, insurance, and investment products. Comparable as an ecosystem enabler that credit unions like Mercy partner with or are benchmarked against, rather than a direct competitor.

Direct peers

• ORNL Federal Credit Union: An employer-based credit union originally chartered for Oak Ridge National Laboratory employees. Comparable closed-membership, employer-anchored model with similar product suite of deposits, consumer loans, and digital banking.
• Healthcare Workers Federal Credit Union: A federally chartered credit union serving healthcare workers in the New York metro area. Directly comparable as an employer/occupational credit union built around a specific healthcare workforce with similar deposit and consumer loan products.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Facebookfacebook.com/pages/Mercy-Federal-Credit-Union/76620422769

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Mercy Federal Credit Union