ufcw local 23 federal credit union

What ufcw local 23 federal credit union does

UFCW Local 23 Federal Credit Union is a private, not-for-profit federal credit union founded on March 19, 1975, and headquartered at 345 Southpointe Blvd., Suite 110, Canonsburg, Pennsylvania. It operates under a closed field-of-membership charter, serving members of UFCW Local 23 and UFCW Local 1776 Keystone State, legacy members of R.C.I.U. Erie Federal Credit Union acquired via a 1993 Purchase and Assumption, credit union employees, and immediate family members. Accounts are federally insured by the National Credit Union Administration (NCUA) up to $250,000 per depositor.

The credit union's product suite is centered on traditional consumer financial services: share (savings) accounts, a Christmas Club seasonal savings account, and a range of consumer loans including home equity (up to $75,000, terms to 20 years), new and used auto loans (up to $45,000), RV/travel trailer loans (up to $75,000), signature/unsecured loans (up to $3,500 at 15% APR), and share-secured loans. Digital delivery is built entirely on third-party vendor platforms: Financial-Net powers the online banking portal, Fiserv Touch Banking powers the iOS and Android mobile apps, and OMNICOMMANDER hosts the public-facing website. The credit union also offers loan calculators, ACH authorization, and payroll deduction as member-facing tools.

Revenue mechanics are typical of a small depository institution: primary income is net interest spread earned on the consumer loan portfolio, supplemented by ancillary fees (e.g., disability insurance on loans) and share-account economics. Pricing is unit-based with rates varying by loan type, term, and equity percentage, all subject to creditworthiness. Member acquisition is driven by union affiliation and family referral rather than open-market marketing, and a weekly loan committee (Wednesdays at 1 PM) handles underwriting decisions. Routing number 243083936 identifies the institution within the U.S. payments system.

Name

ufcw local 23 federal credit union

Legal name

UFCW Local 23 Federal Credit Union

Website

https://ufcw23fcu.org

Company type

Private

Founded year

1975

Operating status

Operating

Short description

UFCW Local 23 Federal Credit Union is a private, NCUA-insured not-for-profit credit union founded in 1975 in Canonsburg, Pennsylvania, serving UFCW Local 23 and Local 1776 KS union members and their families with savings accounts, consumer loans, and digital banking.

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)

akta.pro secondary industry

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

Keywords

• Credit union services
• Consumer savings accounts
• Auto lending
• Home equity loans
• Digital banking

Headquarters

HQ city

Canonsburg

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, Others

Revenue model

1. Interest Income from Lending: The primary revenue stream comes from interest earned on loans including home equity loans, auto loans, signature loans, and share secure loans. Interest rates vary by loan type, term length, and creditworthiness.
2. Fee-based Services: The credit union generates revenue from various financial services including share accounts (savings), Christmas Club accounts, and loan-related fees such as disability insurance for loans.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels3 records

Core offering

UFCW Local 23 Federal Credit Union is a private, member-owned credit union serving UFCW Local 23 and UFCW Local 1776 KS union members, their families, and credit union employees. It provides share (savings) accounts, Christmas Club savings, signature/unsecured loans, share-secured loans, auto loans (new and used), RV/travel trailer loans, and home equity loans, along with online and mobile banking services.

Product overview

UFCW Local 23 Federal Credit Union is a private credit union founded in 1975 serving UFCW Local 23 union members. The organization offers a unified portfolio of traditional financial products including share accounts (savings), Christmas Club savings, and various loan products (auto loans, home equity loans, signature loans, and share secure loans). Digital banking is provided through online banking (via financial-net.com platform) and mobile apps for iOS and Android. Financial planning tools include loan calculators available on their website. The product suite is rounded out by standard credit union services like ACH authorization and payroll deduction capabilities.

Differentiator

Problem solved

Functional benefit

Products and services

• Share Accounts Savings accounts providing members a federally insured (NCUA, up to $250,000) deposit and money-growth product at the credit union.
• Christmas Club Specialized seasonal savings account that lets members set aside funds throughout the year for holiday expenses.
• Auto Loans Financing for new (2024-2025) and used vehicle purchases, with new auto rates at 3.90% APR up to $45,000 over 6 years and used auto rates up to 15.00% depending on vehicle year.
• Signature Loans Unsecured personal loans based on creditworthiness, with a maximum limit of $3,500, terms up to 3 years, and a 15.00% APR; borrowers must keep 20% of loan balance in savings.
• Home Equity Loans Secured loans using home equity as collateral, up to $75,000 with terms up to 20 years and rates ranging from 1.9% (50% equity, 10-year) to 4.90% (20-year term).
• Share Secure Loans Secured loans collateralized by the member's share (savings) account, typically requiring the member to maintain 20% of the loan balance on deposit.
• RV/Travel Trailer Loans Financing for recreational vehicles and travel trailers up to $75,000 with terms from 5 to 15 years and rates from 3.90% to 5.90% based on loan term.
• Online Banking Web-based banking portal powered by Financial-Net that lets members view accounts, enroll, reset passwords, and self-service their banking online.
• Mobile Banking App Native iOS and Android mobile banking applications powered by Fiserv Touch Banking, distributed via the Apple App Store and Google Play Store for on-the-go account access.
• Loan and Savings Calculators Suite of online financial calculators (Simple Loan, Loan Afford, Bi-Weekly Mortgage, Mortgage Refinance, Simple Savings, and Multiple Deposit) to help members plan loans and savings.

Named customers3 records

Segments4 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• OMNICOMMANDERcoreTechnology or IntegrationOMNICOMMANDER provides the website platform technology for UFCW Local 23 Federal Credit Union. The website is powered by OMNICOMMANDER, indicating a core technology partnership for the credit union's digital presence.
• Financial-NetcoreTechnology or IntegrationFinancial-Net provides the online banking platform for UFCW Local 23 Federal Credit Union. Members access online banking through the Financial-Net system at ufcw23fcu-dn.financial-net.com, including enrollment, password recovery, and authentication services.
• FiservcoreTechnology or IntegrationFiserv provides the Touch Banking mobile banking application for UFCW Local 23 Federal Credit Union. The mobile app is available on Apple App Store and Google Play Store under the package name com.fiserv.touchbankingcom.ufcwlocal23fcu.mobile.
• Apple App StoreminorChannel Partner/ Reseller/ DistributorApple App Store distributes the UFCW Local 23 Federal Credit Union mobile banking app for iOS devices. App ID: id1664521753.
• Google Play StoreminorChannel Partner/ Reseller/ DistributorGoogle Play Store distributes the UFCW Local 23 Federal Credit Union mobile banking app for Android devices. Package: com.fiserv.touchbankingcom.ufcwlocal23fcu.mobile.

Scale indicators2 records

Recent moves3 records

Expansion highlights3 records

Broad incumbents

• Citadel Federal Credit Union: Pennsylvania-headquartered federal credit union offering a similar suite of consumer deposit and loan products, including auto and home equity lending. Larger scale and broader geographic footprint than UFCW Local 23 FCU but same regulatory and product positioning.
• PSECU (Pennsylvania State Employees Credit Union): Large Pennsylvania-based closed-charter credit union serving state employees and affiliated groups. Comparable membership-by-affiliation model, but materially larger scale and broader geographic reach than UFCW Local 23 FCU.

Regional players

• First Commonwealth Federal Credit Union: Pennsylvania-based community credit union serving members across western PA, including the greater Pittsburgh region where UFCW Local 23 FCU is headquartered. Comparable product suite (savings, auto, home equity) and similar closed-charter community focus, though with broader occupational sponsor groups.
• Belco Community Credit Union: Central Pennsylvania community credit union with comparable deposit and consumer loan offerings. Both institutions operate as community-focused closed-charter credit unions with similar member-acquisition approaches.
• Clearview Federal Credit Union: Western Pennsylvania community credit union headquartered in Moon Township, near Pittsburgh. Comparable deposit and consumer lending products, similar local-market focus, and overlapping member demographics with UFCW Local 23 FCU.
• Pittsburgh Central Federal Credit Union: Small Pittsburgh-area community credit union with comparable product mix (savings, consumer loans) and overlapping service geography in western Pennsylvania. Similar single-market focus and closed occupational charter structure.

Direct peers

• Service Credit Union: Credit union serving military-affiliated and union-affiliated members, including through occupational sponsor groups. Directly comparable closed-charter, affiliation-driven membership model and similar consumer lending focus.
• Members Choice Credit Union: Community credit union operating in the greater Pittsburgh region with comparable deposit and loan products and a similar small-scale, closed-charter operating model. Direct overlap with UFCW Local 23 FCU's western PA service area.
• UFCW Federal Credit Union (UFCW National FCU): Direct peer — UFCW-affiliated federal credit union serving members across multiple UFCW locals nationally. Same union ecosystem, same charter type, comparable deposit and consumer loan products, and similar member acquisition via union affiliation.
• Hawaii Regional Council of Carpenters Union Federal Credit Union: Union-affiliated federal credit union serving carpenters union members and families. Directly comparable closed-charter, union-sponsored model with the same deposit and consumer loan product structure as UFCW Local 23 FCU.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

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M&A

Investments

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