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Overview / Commentary
507-535-1460
130 23rd Ave SW
Rochester, MN 55902

Mayo Employees Federal Credit Union is headquartered in Rochester and is the 8th largest credit union in the state of Minnesota. It is also the 326th largest credit union in the nation. It was established in 1934 and as of March of 2018, it had grown to 101 employees and 58,883 members at 9 locations. Mayo Employees Federal Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership in Mayo Employees Federal Credit Union is open to current and retired Mayo employees, volunteers of all Mayo affiliated entities, students of Mayo Foundation, and employees of other Select Employer Groups and their family.
See current membership details

Reviews (5)

Stress Free Mortgage

I can not tell people enough how wonderful our experience with MEFCU has been through our mortgage process! We asked for a really tight closing date to give us some time to move and they worked magic to make it happen for us. I know it wasn't really magic, it was all thanks to their very hard work and preparation!

I have been a member for many years, but for our first house we decided to go with a different lender because...well, now I can't really remember why. What I do remember was that the process was time consuming with reams of paper and needing to take time off for this and that. At MEFCU they were happy to let me do things electronic. They sent me an email with exactly what they needed and didn't keep asking for this and that and the other. And they were more that happy to answer my questions with very timely responses.

I would recommend them to anyone looking for a mortgage!

Proud Member

Posted by: KaitlinB | Feb 4, 2015

I do all of my banking with the credit union online and I’ve never had any issues. I’ve been a member for over a year and even applying online was very quick and easy. There are so many products and services available to me and staff are more than willing to answer any questions I may have. I’ve banked at other establishments and have never received the quality of customer service I receive banking here.

Great Customer Service

Posted by: Megan | Feb 4, 2015

I have been a member for a few years and any time I am in the credit union I am greeted with a smile and a friendly face. While looking into various loan options all of my questions were answered and the application process was easy. I am proud to be a member and appreciate the many options available to me!

Happy Doing Buisness Here.

Posted by: Anonymous | Mar 26, 2011

Easiest bank in town to do business with. Getting a car loan took literally 5 minutes, and the loan officer followed up with me twice to ensure everything was going well. Since that experience, I have moved all of my accounts there and have been happier with MEFCU than was with my previous bank, who gave me "private banking." Nice iPhone App too!

Mostly good

I was a customer of the Mayo Clinic Credit Union for a few years. They were a good bank for the most part. The only thing I didn't enjoy was trying to go through them for a home loan. They didn't seem to have a clue what was going on and would lose paper work and blame me for it.
As for the bank itself. No unreasonable fees, the tellers are nice and the rates are very competitive. The online banking and mobile banking were garbage but I'm sure they've fixed those problems by now.



Health
A+

Health Grade Components

Overall
NCUA #24748
Year Chartered1934
Employees101
Primary Regulator
Profit Margin
Return on Assets - YTD1.39%
Return on Equity - YTD13.14%
Annual Interest Income$5.9MM
Assets and Liabilities
AssetsQ1 2018vs Q1 2017$927.2MM$870.7MM
LoansQ1 2018vs Q1 2017$432.7MM$383.2MM
DepositsQ1 2018vs Q1 2017$819.3MM$773.2MM
Equity CapitalQ1 2018vs Q1 2017$95.8MM$86.6MM
Loan Loss AllowanceQ1 2018vs Q1 2017$741.00K$647.00K
Unbacked Noncurrent LoansQ1 2018vs Q1 2017$113.00K$208.00K
Real Estate OwnedQ1 2018vs Q1 2017$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Mayo Employees Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Mayo Employees Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.50%$100$15kTeen Savings
4.50%$100$10kYouth Savings
0.40%--IRA Savings
0.40%--Health Savings Account
0.25%*$25k*-Savings Account
OTHER TIERS: 0.15% Up to $10k | 0.20% $10k - $25k
0.10%-$25kWINcentive Savings

Mayo Employees Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.45%*$100k*-Premium Money Market Savings
OTHER TIERS: 0.35% $20k - $25k | 0.40% $25k - $100k
0.40%*$100k*-Money Market Savings
OTHER TIERS: 0.25% $2,500 - $25k | 0.30% $25k - $100k

Mayo Employees Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$25-Checking Account

Mayo Employees Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$1k-5 Year CD
1.50%$1k-4 Year CD
1.30%*$100k*-3 Year CD
OTHER TIERS: 1.14% $1k - $10k | 1.20% $10k - $25k | 1.25% $25k - $100k
1.00%*$100k*-2 Year CD
OTHER TIERS: 0.85% $1k - $10k | 0.90% $10k - $25k | 0.95% $25k - $100k
0.80%*$100k*-1 Year CD
OTHER TIERS: 0.65% $1k - $10k | 0.70% $10k - $25k | 0.75% $25k - $100k
0.60%*$100k*-6 Month CD
OTHER TIERS: 0.45% $1k - $10k | 0.50% $10k - $25k | 0.55% $25k - $100k
0.45%*$100k*-3 Month CD
OTHER TIERS: 0.30% $1k - $10k | 0.35% $10k - $25k | 0.40% $25k - $100k

Mayo Employees Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.80%$1k-5 Year IRA
1.50%$1k-4 Year IRA
1.30%*$100k*-3 Year IRA
OTHER TIERS: 1.14% $1k - $10k | 1.20% $10k - $25k | 1.25% $25k - $100k
1.00%*$100k*-2 Year IRA
OTHER TIERS: 0.85% $1k - $10k | 0.90% $10k - $25k | 0.95% $25k - $100k
0.80%*$100k*-1 Year IRA
OTHER TIERS: 0.65% $1k - $10k | 0.70% $10k - $25k | 0.75% $25k - $100k
0.60%*$100k*-6 Month IRA
OTHER TIERS: 0.45% $1k - $10k | 0.50% $10k - $25k | 0.55% $25k - $100k
0.45%*$100k*-3 Month IRA
OTHER TIERS: 0.30% $1k - $10k | 0.35% $10k - $25k | 0.40% $25k - $100k
Locations


Mayo Employees Federal Credit Union Locations
Branch Office5777 E Mayo BlvdPhoenix, AZ 85054
Branch Office4500 San Pablo Rd SJacksonville, FL 32224-1865
Branch Office3990 41st St NWRochester, MN 55901
Branch Office130 23rd Ave SWRochester, MN 55902
Branch Office1216 2nd St SWRochester, MN 55902
Branch Office155 1st Ave SWRochester, MN 55902
Branch Office565 1st Ave SWRochester, MN 55902-3304
Branch Office4463 Canal Pl SERochester, MN 55904
Branch Office605 West Ave SLa Crosse, WI 54601

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