Members Cooperative Credit Union

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Review based on 12 criteria Rating: 3.5 out of 5

101 14th St, Cloquet, MN 55720

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Members Cooperative Credit Union was founded in 1936. Headquartered in Cloquet, Minnesota, Members Cooperative Credit Union is a state chartered and federally insured credit union, being chartered in Minnesota and insured through the National Credit Union Share Insurance Fund (NCUSIF). Members Cooperative Credit Union is also a member of the , which allows a credit union to access low cost secured borrowings or advances and prlides its members with financial products and services that assist and enhance the financing of housing and community lending.

As of December 31, 2016, Members Cooperative Credit Union services 45,969 members through its 10 offices and branches and 176 full-time and 4 part-time employees. It has $630,208,071 of total assets and $78,341,657 of net worth. Based on its asset size and net worth ratio, Members Cooperative Credit Union is classified as a Well Capitalized large credit union.

Members Cooperative Credit Union offers a number of deposit and loan products to its members. To find out how competitive the offers are, please go to the Interest Rates page. Members Cooperative Credit Union also provides an array of services to its members and local communities. Members Cooperative Credit Union plans to extend its services by adding more branches or service centers in the next 12 month. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Members Cooperative Credit Union’s popular offerings. You can find out how competitive the offerings are by comparing them to the median interest rates offered by credit unions in Minnesota and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Minnesota
Median of USA
Checking
0.0500
0.0100
0.0000
Savings
0.1000
0.1000
0.1200
Money Market
0.6000
0.2500
0.2500
Certificate Deplit
0.7500
0.4250
0.5800
IRA
0.7500
0.4250
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Minnesota
National Median Rates
Credit Cards
15.0000
9.9000
9.9900
Unsecured Line of Credits
14.7700
11.0000
10.9500
Short-term Small Amount
n/a
18.0000
25.0000
Student Loans
5.9900
6.0000
6.0200
New Car Loans
5.0600
2.9900
3.3300
Used Car Loans
6.2100
3.9900
4.5000
1st Mortgage Real Estates
5.9200
4.2500
4.2500
Other Real Estates
5.9000
4.7100
4.7000

Members Cooperative Credit Union prlides a number of ways to access its services. In addition to its office and branches, a member can perform banking through Internet, phones, ATMs, and mobile devices. The table below lists the electronic banking services prlided by Members Cooperative Credit Union.

Electronic Banking Service Offerings

Membership Application
Yes
Yes
Share Account Transfers
Yes
New Loan Application
Yes
Share Draft Orders
Yes
No
New Share Account
Yes
Bill Payment
Yes
No
e-Statements
Yes
Loan Payments
Yes
Yes
Account Balance Inquiry
Yes
Yes
Yes
View Account History
Yes
No

As a community financial institution, Members Cooperative Credit Union actively involves in local communities by prliding services such as financial education, financial literacy workshops, and first tim home buyer programs.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
Yes
In-School Branches
No
Free Tax Preparation Service
No
Financial Literacy Workshops
Yes
Student Scholarships
Yes
Insurance/Investment Sales
No
First Time Homebuyer Program
No
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  1. dizhome.ru Staff
    dizhome.ru Staff

    Last Updated on May 30, 2017

    May 30, 2017 at 10:27 pm

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