Monterey Credit Union

Rated star_ratedstar_ratedstar_normalstar_normalstar_normal by Credit Guide
Review based on 12 criteria Rating: 2 out of 5

PO Box 3288, Monterey, CA 93942

Website

(831) 647-1000

Data Source: NCUA, December 31, 2016


Monterey Credit Union was founded in 1968. Headquartered in Monterey, California, Monterey Credit Union is a state chartered and not federally insured credit union, being chartered in California but not insured through the National Credit Union Share Insurance Fund (NCUSIF). Monterey 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, Monterey Credit Union services 18,615 members through its 7 offices and branches and 67 full-time and 2 part-time employees. It has $231,987,062 of total assets and $32,523,184 of net worth. Based on its asset size and net worth ratio, Monterey Credit Union is classified as a Well Capitalized medium large credit union.

Monterey 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. Monterey 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 Monterey 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 California and in the nation.

Major Deplitory Accounts and Interest Rates (%)

Interest Rate
Median of California
Median of USA
Checking
0.0000
0.0000
0.0000
Savings
0.0100
0.1000
0.1200
Money Market
0.0500
0.1900
0.2500
Certificate Deplit
0.1500
0.5500
0.5800
IRA
0.1500
0.4500
0.5000

Major Loan Accounts and Interest Rates (%)

Interest Rate
Median Rates of California
National Median Rates
Credit Cards
n/a
10.0400
9.9900
Unsecured Line of Credits
14.2500
10.9900
10.9500
Short-term Small Amount
n/a
28.0000
25.0000
Student Loans
n/a
5.7500
6.0200
New Car Loans
4.9500
3.0000
3.3300
Used Car Loans
5.1900
3.7400
4.5000
1st Mortgage Real Estates
3.7500
4.0300
4.2500
Other Real Estates
4.7500
4.7400
4.7000

Monterey 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 Monterey Credit Union.

Electronic Banking Service Offerings

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

As a community financial institution, Monterey Credit Union actively involves in local communities by prliding services such as financial literacy workshops.

Community and other Service Offerings

Financial Counselling
No
Bilingual Services
No
Free Bill Pay
Yes
Financial Education
No
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
Carmel Branch
26135 Carmel Rancho Blvd Ste B5
Carmel, CA 93923
Phone:831-647-1000

Edgewater Branch
915 Playa Ave Ste B
Sand City, CA 93955
Phone:831-647-1000

Franklin Office
Main Office

501 E Franklin St
Monterey, CA 93940
Phone:831-647-1000

Harden Branch
1566 N Main St
Salinas, CA 93906
Phone:831-442-3380

Hollister Branch
1760 Airline Hwy Ste H2
Hollister, CA 95023
Phone:831-636-3234

Monterey Credit Union
2600 Garden Rd Ste 115
Monterey, CA 93940-5321
Phone:831-647-1000

Pacific Grove Branch
161 Fountain Ave
Pacific Grove, CA 93950
Phone:831-647-1000

Soquel Branch
2750 41st Ave Ste F
Soquel, CA 95073
Phone:831-462-5080

(831) 647-1290

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  1. Credit Guide Staff
    Credit Guide Staff

    Last Updated on May 30, 2017

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