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38 Maple Street
Waynesville, NC 28786

Mountain Credit Union is headquartered in Waynesville and is the 16st largest credit union in the state of North Carolina. It is also the 1,091st largest credit union in the nation. It was established in 1963 and as of December of 2013, it had grown to 52 employees and 19,953 members. Mountain Credit Union's savings rates are 2X the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Anyone who lives, works, worships or attends school in Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison and Swain Counties of North Carolina is eligible to join Mountain Credit Union. Also qualified for membership are all federal employees located in the 20 western counties of North Carolina (Avery, Buncombe, Burke, Cherokee, Caldwell, Clay, Cleveland, Graham, Haywood, Henderson, Jackson, McDowell, Macon, Madison, Mitchell, Polk, Rutherford, Swain, Transylvania, and Yancey). This includes field personnel who are paid from a headquarters office located in the above counties. Additionally, anyone who works or lives on the Cherokee Indian Reservation, and family members of anyone eligible for membership also qualify Mountain Credit Union membership. - See Details

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Changes To Account

Just recieved a letter from MCU about the change in rate from 4.15 to 3.15 and change in applied max amount from $25,000 to $15,000.


Data for Q4 2013

Institution Health


Texas Ratio


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 Mountain Credit Union had $659,000 in non-current loans and owned real-estate with $16.76 million in equity and loan loss allowances on hand to cover it. This gives Mountain Credit Union a Texas Ratio of 3.93% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Mountain Credit Union decreased dramatically from 6.19% as of December 31, 2012 to 3.93% as of December 31, 2013, resulting in a positive change of 36.42%.This indicates that the balance sheet and financial strength for Mountain Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Mountain Credit Union has increased its total deposits by $10.38 million, resulting in 7.99% 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 Mountain Credit Union has shown is excellent.



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. Mountain Credit Union has $156.66 million in assets with $16.76 million in equity, resulting in a capitalization level of 10.70%, which is above average.

Institution Statistics

NCUA #68531
Year Chartered1963
Primary Regulator
Assets and Liabilities
Assets$156.67 million
Loans$88.85 million
Deposits$140.36 million
Equity Capital$16.23 million
Loan Loss Allowance$529,000
Unbacked Noncurrent Loans$630,000
Real Estate Owned$29,000
Historic Data - December 2012
Assets$146.56 million
Equity Capital$15.16 million
Loan Loss Allowance$600,000
Unbacked Noncurrent Loans$630,000
Real Estate Owned$170,000
Profit Margin - Quarterly
Net Interest Margin5.26%
Return on Assets0.68%
Return on Equity6.56%
Interest Income$5.77 million

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

Mountain Credit Union Savings Account Rates

1.15%--Traditional IRA Account
1.15%--Roth IRA Account
1.15%--Education IRA Account
1.15%--Health Savings Account
0.20%$125-Regular Savings
0.20%--Christmas Club
0.20%--Special Savings
0.20%--Youth Savings

Mountain Credit Union Money Market Rates

0.40%$25k-Money Maket Account

Mountain Credit Union Checking Account Rates

1.75%-$15kRewards Checking
0.10%$125-Regular Checking
0.10%--Student Checking
0.10%$1,500-Business Checking
0.10%$100-Non-Profit Checking
0.05%--Rewards Checking

Mountain Credit Union CD Rates

0.50%$2,500-12 Month CD
0.45%$2,500-6 Month CD

Mountain Credit Union Locations
Branch Office38 Maple StWaynesville, NC 28786-5764
Branch Office219 Haywood StAsheville, NC 28801-2618
Branch Office721 N Main StWaynesville, NC 28786-3821
Branch Office375 Sequoyah TrailCherokee, NC 28719
Branch Office5010 Hendersonville RdFletcher, NC 28732-6606
Branch Office746 E Main StFranklin, NC 28734-2674
Branch Office1453 Sand Hill RdCandler, NC 28715
Branch Office30 Highway 107Sylva, NC 28779