Memphis Municipal Employees Federal Credit Union

Rated star_ratedstar_ratedstar_rated_halfstar_normalstar_normal by Credit Guide
Review based on 12 criteria Rating: 2.5 out of 5

577 Dr Ml King Jr Ave, Memphis, TN 38126-1942

Website

(901) 528-2816

Data Source: NCUA, December 31, 2016


Memphis Municipal Employees Federal Credit Union was founded in 1963. Headquartered in Memphis, Tennessee, Memphis Municipal Employees Federal Credit Union is a federally chartered and federally insured credit union, operating within the regulation of the National Credit Union Association (NCUA) and being insured through the National Credit Union Share Insurance Fund (NCUSIF). Memphis Municipal Employees Federal Credit Union is also a member of the Federal Home Loan Bank (FHLB), 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, Memphis Municipal Employees Federal Credit Union services 2,707 members through its 6 full-time and 1 part-time employees. It has $13,924,766 of total assets and $4,258,949 of net worth. Based on its asset size and net worth ratio, Memphis Municipal Employees Federal Credit Union is classified as a Well Capitalized medium small credit union.

Memphis Municipal Employees Federal 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. Memphis Municipal Employees Federal Credit Union also provides an array of services to its members and local communities. To find out more, please go to the Services page.

The following two tables list the deplitory and loan interest rates of Memphis Municipal Employees Federal 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 Tennessee and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of Tennessee
Median of USA
Checking
0.0500
0.0050
0.0000
Savings
0.0500
0.1000
0.1200
Money Market
0.1500
0.2000
0.2500
Certificate Deplit
0.0600
0.5000
0.5800
IRA
0.0600
0.5500
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of Tennessee
National Median Rates
Credit Cards
9.9900
9.9950
9.9900
Unsecured Line of Credits
18.0000
10.6000
10.9500
Short-term Small Amount
28.0000
21.0000
25.0000
Student Loans
n/a
6.0000
6.0200
New Car Loans
5.0000
3.0000
3.3300
Used Car Loans
11.5000
4.4900
4.5000
1st Mortgage Real Estates
8.5000
4.2500
4.2500
Other Real Estates
n/a
5.0000
4.7000

Memphis Municipal Employees Federal 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, and ATMs. The table below lists the electronic banking services prlided by Memphis Municipal Employees Federal Credit Union.

Electronic Banking Service Offerings

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

As a community financial institution, Memphis Municipal Employees Federal Credit Union actively involves in local communities by prliding services such as financial counseling, financial education, financial literacy workshops.

Community and other Service Offerings

Financial Counselling
Yes
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
No
Insurance/Investment Sales
Yes
First Time Homebuyer Program
No
Memphis Municipal Efcu
Main Office

577 Dr Ml King Jr Ave
Memphis, TN 38126-1942
Phone:901-528-2816

(901) 528-2826

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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