Chicago Municipal Employees Credit Union


Overview / Commentary
312-236-2326
18 S Michigan Ave Ste 1000
Chicago, IL 60603

Chicago Municipal Employees Credit Union is headquartered in Chicago and is the 73rd largest credit union in the state of Illinois. It is also the 2,373rd largest credit union in the nation. It was established in 1926 and as of September of 2022, it had grown to 16 employees and 11,746 members at 3 locations. Chicago Municipal Employees Credit Union has a B+ health rating.

Field of Membership Restrictions

Chicago Municipal Employees Credit Union is open to all employees of the City of Chicago and its sister agencies. Individuals who live or work in a part of Cook County also qualify for membership. (Northern boundary is Central Avenue; western boundary is Cook County/Will County/DuPage County intersection, then following Cook County border straight north intersecting with Central Road; eastern boundary is Lake Michigan; and southern boundary is Cook County border.
See current membership details

Reviews (1)

Customer Service Lacking

Not easy to deal here. Customer service reps not well trained or knowledgeable. In person service only 1 day per week at location in safe neighborhood, and you can't rely on someone being there. Need to call first. Phones don't get answered promptly. Calls do not get prompt response. Only reason to deal here is that at present they are 1 of only 2 institutions with decent rates. They have little knowledge of IRS regs re IRA accounts. When I asked for a Transfer form, they gave me a Rollover form and did not understand the difference.



Health
B+
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Chicago Municipal Employees Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #65932
Year Chartered1926
Employees16
Primary Regulator
Profit Margin
Return on Assets - YTD1.66%
Return on Equity - YTD16.03%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$58.4MM$60.5MM
LoansQ3 2022vs Q3 2021$32.7MM$30.0MM
DepositsQ3 2022vs Q3 2021$51.1MM$52.9MM
Equity CapitalQ3 2022vs Q3 2021$6.4MM$5.7MM
Loan Loss AllowanceQ3 2022vs Q3 2021$306.00K$282.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$209.00K$251.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0
Rates

Rates for Chicago Municipal Employees Credit Union are currently being reviewed.

Locations


Chicago Municipal Employees Credit Union Locations
Branch Office18 S Michigan Ave Ste 1000Chicago, IL 60603
Branch Office6612 W North AveChicago, IL 60707
Branch Office3510 S Michigan Ave Suite 119Chicago, IL 60653

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