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

Members Plus Credit Union is headquartered in Medford and is the 32nd largest credit union in the state of Massachusetts. It is also the 841st largest credit union in the nation. It was established in 1940 and as of December of 2013, it had grown to 36 employees and 9,922 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 Q4 2013

Institution Health

A+

Texas Ratio

GRADE:
A+

The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of December 31, 2013 Members Plus Credit Union had $1.14 million in non-current loans and owned real-estate with $29.73 million in equity and loan loss allowances on hand to cover it. This gives Members Plus Credit Union a Texas Ratio of 3.82% 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 7.06% as of December 31, 2012 to 3.82% as of December 31, 2013, resulting in a positive change of 45.86%.This indicates that the balance sheet and financial strength for Members Plus Credit Union has improved dramatically in recent periods.

Deposit Growth

GRADE:
B

In the past year, Members Plus Credit Union has increased its total deposits by $1.27 million, resulting in 0.7% 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 above 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 $224.89 million in assets with $29.73 million in equity, resulting in a capitalization level of 13.22%, which is excellent.

Institution Statistics

Overall
NCUA #66706
Year Chartered1940
Employees36
Primary Regulator
Assets and Liabilities
Assets$224.89 million
Loans$154.09 million
Deposits$181.47 million
Equity Capital$29.34 million
Loan Loss Allowance$389,000
Unbacked Noncurrent Loans$1.14 million
Real Estate Owned$0
Historic Data - December 2012
Assets$225.11 million
Equity Capital$30.78 million
Loan Loss Allowance$410,000
Unbacked Noncurrent Loans$1.14 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin3.43%
Return on Assets0.28%
Return on Equity2.17%
Interest Income$7.59 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 (Traditional,Roth,CESA)
1.31%$500-4 Year IRA (Traditional,Roth,CESA)
1.11%$500-3 Year IRA (Traditional,Roth,CESA)
0.90%$500-2 Year IRA (Traditional,Roth,CESA)
0.85%$500-2 Year Step-Up IRA (Traditional,Roth,CESA)
0.60%$500-18 Month IRA (Traditional,Roth,CESA)
0.55%$500-1 Year IRA (Traditional,Roth,CESA)
0.55%$500-13 Month IRA (Traditional,Roth,CESA)
0.55%$500-15 Month IRA (Traditional,Roth,CESA)
0.50%$500-11 Month IRA (Traditional,Roth,CESA)
0.45%$500-9 Month IRA (Traditional,Roth,CESA)
0.40%$500-6 Month IRA (Traditional,Roth,CESA)
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