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Overview / Commentary
22 Cortlandt St
New York, NY 10007-3107

Municipal Credit Union is headquartered in New York and is the 9th largest credit union in the state of New York. It is also the 76th largest credit union in the nation. It was established in 1917 and as of March of 2014, it had grown to 643 employees and 366,518 members. Municipal Credit Union has a B health rating.

Field of Membership Restrictions

Must be an employee of the City of New York, City of Yonkers or Mount Vernon or be an employee of a hospital, nursing home, health facility or their affiliate located in New York State. - See Details

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Reviews (1)


MCU is fast, reliable, easy, and quick. I love their service so much. I never have to wait i long lines and I never have problems that dont get resolved. The associates are fast and friendly anyone can tell that they are trained well. The atmosphere of this credit union is very family oriented. I love that i can take my brothers or sisters here and they wont be a burden to the workers because the workers are so friendly


Data for Q1 2014

Institution Health


Texas Ratio


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 Municipal Credit Union had $19.68 million in non-current loans and owned real-estate with $146.29 million in equity and loan loss allowances on hand to cover it. This gives Municipal Credit Union a Texas Ratio of 13.45% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Municipal Credit Union experienced no significant changes from 12.56% as of March 31, 2013 to 13.45% as of March 31, 2014, resulting in a negative change of 7.13%. This indicates that the balance sheet and financial strength for Municipal Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Municipal Credit Union has increased its total deposits by $108.13 million, resulting in 6.05% 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 Municipal 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. Municipal Credit Union has $2.07 billion in assets with $146.29 million in equity, resulting in a capitalization level of 7.07%, which is below average.

Institution Statistics

NCUA #60153
Year Chartered1917
Primary Regulator
Assets and Liabilities
Assets$2.07 billion
Loans$1.27 billion
Deposits$1.90 billion
Equity Capital$129.73 million
Loan Loss Allowance$16.56 million
Unbacked Noncurrent Loans$19.46 million
Real Estate Owned$220,000
Historic Data - March 2013
Assets$1.98 billion
Equity Capital$128.71 million
Loan Loss Allowance$19.25 million
Unbacked Noncurrent Loans$19.46 million
Real Estate Owned$589,000
Profit Margin - Quarterly
Return on Assets0.07%
Return on Equity1.09%
Interest Income$20.54 million
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Municipal Credit Union Savings Account Rates

0.40%$50k-Share Account
0.30%--Smart Apple Savers Club
0.30%--Future Investors Club
0.20%--Holiday Club
0.20%--Vacation Club

Municipal Credit Union Money Market Rates

0.40%$50k-Money Market Account

Municipal Credit Union CD Rates

0.95%$500-36 Month Share Certificate
0.85%$500-30 Month Share Certificate
0.75%$500-24 Month Share Certificate
0.50%$250-18 Month Deposit Plus Share Certificate
0.50%$300-18 Month Secured Visa Share Certificate
0.45%$500-12 Month Share Certificate
0.40%$500-9 Month Share Certificate
0.30%$500-6 Month Share Certificate
0.20%$500-3 Month Share Certificate

Municipal Credit Union IRA Rates

0.95%$500-36 Month IRA Certificate
0.85%$500-30 Month IRA Certificate
0.75%$500-24 Month IRA Certificate
0.50%$100-18 Month IRA Certificate
0.45%$500-12 Month IRA Certificate
0.40%$500-9 Month IRA Certificate
0.30%$500-6 Month IRA Certificate
0.20%$500-3 Month IRA Certificate

Municipal Credit Union has 21 locations. Click to view all Municipal Credit Union locations.