Municipal Credit Union

Overview of Municipal Credit Union

The Municipal Credit Union (MCU) is a financial cooperative that has been serving the needs of municipal employees in New York City for over 80 years. Established in 1931, MCU has grown to become one of the largest credit unions in the United States, with over 80 branches and 400,000 members.

History and Mission

MCU was founded to provide affordable financial services to municipal employees, who were often underserved by traditional banks. The credit union's mission is to provide a safe and secure place for members to manage their finances, while also promoting financial education and community involvement. Today, MCU remains committed to serving the financial needs of its members, offering a range of products and services, including savings accounts, loans, mortgages, and credit cards.

Services and Products

MCU offers a wide range of financial products and services to its members, including:

Savings accounts, including regular savings, high-yield savings, and youth savings accounts
Checking accounts, including interest-bearing checking and student checking accounts
Loans, including personal loans, mortgages, and home equity loans
Credit cards, including low-rate credit cards and rewards credit cards
Financial education and counseling services
Membership Benefits

Membership in MCU comes with a range of benefits, including:

Competitive rates on loans and deposits
Low fees on financial products and services
Personalized service from experienced financial professionals
Access to a network of over 80 branches and ATMs throughout New York City
Financial education and counseling services to help members achieve their financial goals
Community Involvement

MCU is committed to giving back to the community it serves. The credit union supports a range of community organizations and initiatives, including financial education programs, scholarships, and community development projects. By supporting local organizations and initiatives, MCU aims to make a positive impact on the lives of its members and the broader community.

Financial Performance

MCU has a strong track record of financial performance, with over $4 billion in assets and a net worth of over $400 million[1]. The credit union's financial performance is a testament to its commitment to responsible financial management and its dedication to serving the needs of its members.

Conclusion

The Municipal Credit Union is a trusted financial cooperative that has been serving the needs of municipal employees in New York City for over 80 years. With its commitment to affordable financial services, financial education, and community involvement, MCU remains a leading provider of financial products and services in the region.

AUTHORITATIVE SOURCES
MCU's financial performance data↩
National Credit Union Administration↩
Credit Union National Association↩