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Mutual Security Credit Union

OVERALL
INSTITUTION HEALTH
B+
Based on 1 review
OVERVIEW /
COMMENTARY
REVIEWS
HEALTH RATING
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 806th largest credit union in the nation. It was established in 1982 and as of December of 2013, it had grown to 66 employees and 36,402 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 Q4 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 December 31, 2013 Mutual Security Credit Union had $1.92 million in non-current loans and owned real-estate with $19.4 million in equity and loan loss allowances on hand to cover it. This gives Mutual Security Credit Union a Texas Ratio of 9.88% 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 9.59% as of December 31, 2012 to 9.88% as of December 31, 2013, resulting in a negative change of 2.95%. 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 $808,000, resulting in 0.37% 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 $239.44 million in assets with $19.4 million in equity, resulting in a capitalization level of 8.10%, which is average.

Institution Statistics

Overall
NCUA #68479
Year Chartered1982
Employees66
Primary Regulator
Assets and Liabilities
Assets$239.44 million
Loans$220.31 million
Deposits$217.97 million
Equity Capital$18.76 million
Loan Loss Allowance$637,000
Unbacked Noncurrent Loans$1.92 million
Real Estate Owned$0
Historic Data - December 2012
Assets$247.15 million
Equity Capital$18.47 million
Loan Loss Allowance$796,000
Unbacked Noncurrent Loans$1.92 million
Real Estate Owned$329,000
Profit Margin - Quarterly
Net Interest Margin3.45%
Return on Assets0.12%
Return on Equity1.58%
Interest Income$8.87 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
1.60%$500$100k61 Month Step-Up CD Anniversary Special
1.25%$500-60 Month CD
1.06%$500-46 Month CD Special
1.00%--18 Month Starter CD
0.85%$500-17 Month Member Appreciation CD Special
0.75%$500-48 Month CD
0.60%$500-36 Month CD
0.35%$500-24 Month CD
0.35%$500-24 Month Variable Rate CD
0.35%--24 Month Youth 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 (Traditional,Roth,CESA)
1.06%$500-46 Month IRA Special (Traditional,Roth,CESA)
0.85%$500-17 Month Member Appreciation IRA Special (Traditional,Roth,CESA)
0.75%$500-48 Month IRA (Traditional,Roth,CESA)
0.60%$500-36 Month IRA (Traditional,Roth,CESA)
0.35%$500-24 Month IRA (Traditional,Roth,CESA)
0.35%$500-24 Month Variable Rate IRA (Traditional,Roth,CESA)
0.30%$500-18 Month IRA (Traditional,Roth,CESA)
0.25%$500-12 Month IRA (Traditional,Roth,CESA)
0.20%$500-9-11 Month IRA (Traditional,Roth,CESA)
0.15%$500-3 Month IRA (Traditional,Roth,CESA)
0.15%$500-6-8 Month IRA (Traditional,Roth,CESA)
Locations

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