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Overview / Commentary
781-905-1500
29 High St
Medford, MA 02155-3801

Members Plus Credit Union is headquartered in Medford and is the 33rd largest credit union in the state of Massachusetts. It is also the 847th largest credit union in the nation. It was established in 1940 and as of March of 2014, it had grown to 35 employees and 9,919 members. Members Plus Credit Union has a A health rating.

Field of Membership Restrictions

Must live, work or worship in Middlesex, Norfolk, Plymouth or Suffolk County. - See Details

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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Members Plus Credit Union had $989,000 in non-current loans and owned real-estate with $30.24 million in equity and loan loss allowances on hand to cover it. This gives Members Plus Credit Union a Texas Ratio of 3.27% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
A+

The Texas Ratio for Members Plus Credit Union decreased dramatically from 7.90% as of March 31, 2013 to 3.27% as of March 31, 2014, resulting in a positive change of 58.61%.This indicates that the balance sheet and financial strength for Members Plus Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
C

In the past year, Members Plus Credit Union has decreased its total deposits by -$2.13 million, resulting in -1.13% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Members Plus Credit Union has shown is average.

Capitalization

GRADE:
A+

Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Members Plus Credit Union has $230.12 million in assets with $30.24 million in equity, resulting in a capitalization level of 13.14%, which is excellent.

Institution Statistics

Overall
NCUA #66706
Year Chartered1940
Employees35
Primary Regulator
Assets and Liabilities
Assets$230.12 million
Loans$153.45 million
Deposits$186.01 million
Equity Capital$29.86 million
Loan Loss Allowance$383,000
Unbacked Noncurrent Loans$989,000
Real Estate Owned$0
Historic Data - March 2013
Assets$231.16 million
Equity Capital$31.05 million
Loan Loss Allowance$375,000
Unbacked Noncurrent Loans$989,000
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin0.88%
Return on Assets0.42%
Return on Equity3.22%
Interest Income$1.90 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Members Plus Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Members Plus Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.40%$25k-WIIN CLUB
0.25%$25-Savings (Share) Account
0.25%--IRA Share Account
0.25%--Holiday Club
0.25%--Vacation Club
0.25%$25-CESA Share Account
0.25%--Roth IRA Share Account

Members Plus Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.40%$25k-Money Market Account
0.40%$25k-Members Money Market

Members Plus Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.10%--Members Plus Checking Account

Members Plus Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.56%$500-5 Year CD
1.31%$500-4 Year CD
1.11%$500-3 Year CD
0.90%$500-2 Year CD
0.85%$500-2 Year Step-Up CD
0.60%$500-18 Month CD
0.55%$500-1 Year CD
0.55%$500-13 Month CD
0.55%$500-15 Month CD
0.50%$500-11 Month CD
0.45%$500-9 Month CD
0.40%$500-6 Month CD

Members Plus Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.56%$500-5 Year IRA
1.31%$500-4 Year IRA
1.11%$500-3 Year IRA
0.90%$500-2 Year IRA
0.85%$500-2 Year Step-Up IRA
0.60%$500-18 Month IRA
0.55%$500-1 Year IRA
0.55%$500-13 Month IRA
0.55%$500-15 Month IRA
0.50%$500-11 Month IRA
0.45%$500-9 Month IRA
0.40%$500-6 Month IRA
Locations


Members Plus Credit Union Locations
Branch Office1165 Massachusetts AveDorchester, MA 02125
Branch Office494 Gallivan BlvdDorchester, MA 02124
Branch Office600 Rocky Hill RdPlymouth, MA 02360
Branch Office111 LENOX ST STE 111NORWOOD, MA 02062
Branch Office29 High StMedford, MA 02155-3801