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Mutual Security Credit Union

OVERALL
INSTITUTION HEALTH
B
Based on 1 review
OVERVIEW /
COMMENTARY
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RATES
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Overview / Commentary
www.mscu.net
(203) 402-7400
P.O. Box 2489
Shelton, CT 06484

Mutual Security Credit Union is headquartered in SHELTON and is the 7th largest credit union in the state of Connecticut. It is also the 800th largest credit union in the nation. It was established in 1982 and as of September of 2013, it had grown to 64 employees and 36,324 members. Mutual Security Credit Union's savings rates are 44% higher than the national average, and it has a B health rating.

Field of Membership Restrictions

Eligible members are those who live, work, worship or attend school in Fairfield, Litchfield or New Haven County Connecticut. Employees and people retired as pensioners or annuitants of approved Select Employer Groups as well as Organizations from such companies are also eligible for membership. Additionally, family members of current Credit Union members are also qualified to join Mutual Security Credit Union. Membership requires a minimum balance of $5 in the savings account. - See Details

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Reviews (1)

ATM Card Access Fees.

POSTED ON MONDAY JUNE 13, 2011 by Anonymous

Don't understand why they charge seventy five cents per month if you want your ATM card to access CO-OP network.

1


Health

Data for Q3 2013

Institution Health

B

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 September 30, 2013 Mutual Security Credit Union had $1.87 million in non-current loans and owned real-estate with $19.08 million in equity and loan loss allowances on hand to cover it. This gives Mutual Security Credit Union a Texas Ratio of 9.82% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
C+

The Texas Ratio for Mutual Security Credit Union held steady from 9.49% as of September 30, 2012 to 9.82% as of September 30, 2013, resulting in a negative change of 3.42%. This indicates that the balance sheet and financial strength for Mutual Security Credit Union has held steady in recent periods.

Deposit Growth

GRADE:
B

In the past year, Mutual Security Credit Union has increased its total deposits by $1.64 million, resulting in 0.75% 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 Mutual Security Credit Union has shown is above average.

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. Mutual Security Credit Union has $243.02 million in assets with $19.08 million in equity, resulting in a capitalization level of 7.85%, which is below average.

Institution Statistics

Overall
NCUA #68479
Year Chartered1982
Employees64
Primary Regulator
Assets and Liabilities
Assets$243.02 million
Loans$215.39 million
Deposits$221.03 million
Equity Capital$18.48 million
Loan Loss Allowance$598,000
Unbacked Noncurrent Loans$1.87 million
Real Estate Owned$0
Historic Data - September 2012
Assets$242.28 million
Equity Capital$18.39 million
Loan Loss Allowance$906,000
Unbacked Noncurrent Loans$1.87 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin2.61%
Return on Assets0.01%
Return on Equity0.1%
Interest Income$6.62 million
Rates
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Mutual Security Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
0.75%$25-Health Savings Account
0.03%$100-Regular Savings
0.03%$100-Holiday Club
0.03%$100-Vacation Club

Mutual Security Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.25%$100k-Money Market
0.25%$100k-Individual Retirement MMA
0.25%$100k-Roth IRA MMA
0.25%$100k-CESA MMA

Mutual Security Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
1.50%-$15kUltimate Checking
0.03%$100-Advantage Checking
0.00%--Ultimate Checking

Mutual Security Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.25%$500-60 Month CD
1.00%--18 Month Starter CD
0.85%$10k-17 Month Member Appreciation CD Special
0.75%$500-48 Month CD
0.60%$500-36 Month CD
0.38%$500-24 Month Variable Rate CD
0.38%--24 Month Youth CD
0.35%$500-24 Month CD
0.30%$500-18 Month CD
0.25%$500-12 Month CD
0.20%$500-9-11 Month CD
0.15%$500-3 Month CD
0.15%$500-6-8 Month CD

Mutual Security Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.25%$500-60 Month IRA
1.25%$500-60 Month Roth IRA
1.25%$500-60 Month CESA
0.85%$10k-17 Month Member Appreciation CESA Special
0.85%$10k-17 Month Member Appreciation IRA Special
0.85%$10k-17 Month Member Appreciation Roth IRA Special
0.75%$500-48 Month IRA
0.75%$500-48 Month Roth IRA
0.75%$500-48 Month CESA
0.60%$500-36 Month IRA
0.60%$500-36 Month Roth IRA
0.60%$500-36 Month CESA
0.38%$500-24 Month Variable Rate IRA
0.38%$500-24 Month Variable Rate Roth IRA
0.38%$500-24 Month Variable Rate CESA
0.35%$500-24 Month IRA
0.35%$500-24 Month Roth IRA
0.35%$500-24 Month CESA
0.30%$500-18 Month IRA
0.30%$500-18 Month Roth IRA
0.30%$500-18 Month CESA
0.25%$500-12 Month IRA
0.25%$500-12 Month Roth IRA
0.25%$500-12 Month CESA
0.20%$500-9-11 Month IRA
0.20%$500-9-11 Month Roth IRA
0.20%$500-9-11 Month CESA
0.15%$500-3 Month IRA
0.15%$500-6-8 Month IRA
0.15%$500-3 Month Roth IRA
0.15%$500-6-8 Month Roth IRA
0.15%$500-3 Month CESA
0.15%$500-6-8 Month CESA
Locations

Mutual Security Credit Union has 15 locations. Click to view all Mutual Security Credit Union locations.