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800-843-1867
22 Cortlandt St
New York, NY 10007

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 80th largest credit union in the nation. It was established in 1917 and as of December of 2013, it had grown to 631 employees and 361,510 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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Health

Data for Q4 2013

Institution Health

B

Texas Ratio

GRADE:
B+

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 Municipal Credit Union had $21.54 million in non-current loans and owned real-estate with $146.45 million in equity and loan loss allowances on hand to cover it. This gives Municipal Credit Union a Texas Ratio of 14.71% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Municipal Credit Union experienced no significant changes from 13.90% as of December 31, 2012 to 14.71% as of December 31, 2013, resulting in a negative change of 5.83%. This indicates that the balance sheet and financial strength for Municipal Credit Union has had no significant changes in recent periods.

Deposit Growth

GRADE:
A+

In the past year, Municipal Credit Union has increased its total deposits by $158.11 million, resulting in 9.73% 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.

Capitalization

GRADE:
C-

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 $1.95 billion in assets with $146.45 million in equity, resulting in a capitalization level of 7.49%, which is below average.

Institution Statistics

Overall
NCUA #60153
Year Chartered1917
Employees631
Primary Regulator
Assets and Liabilities
Assets$1.95 billion
Loans$1.28 billion
Deposits$1.78 billion
Equity Capital$129.38 million
Loan Loss Allowance$17.07 million
Unbacked Noncurrent Loans$21.20 million
Real Estate Owned$334,000
Historic Data - December 2012
Assets$1.79 billion
Equity Capital$127.90 million
Loan Loss Allowance$19.75 million
Unbacked Noncurrent Loans$21.20 million
Real Estate Owned$549,000
Profit Margin - Quarterly
Net Interest Margin6.06%
Return on Assets0.16%
Return on Equity2.35%
Interest Income$82.52 million
Rates
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Municipal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
0.40%$50k-Money Market Account

Municipal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
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

DetailsAPYMINMAXPRODUCT
0.95%$500-36 Month IRA Certificate (Traditional,Roth)
0.85%$500-30 Month IRA Certificate (Traditional,Roth)
0.75%$500-24 Month IRA Certificate (Traditional,Roth)
0.50%$100-18 Month IRA Certificate (Traditional,Roth)
0.45%$500-12 Month IRA Certificate (Traditional,Roth)
0.40%$500-9 Month IRA Certificate (Traditional,Roth)
0.30%$500-6 Month IRA Certificate (Traditional,Roth)
0.20%$500-3 Month IRA Certificate (Traditional,Roth)
Locations

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