MembersFirst CT Federal Credit Union

Overview / Commentary
285 Broad St
Meriden, CT 06450

MembersFirst CT Federal Credit Union is headquartered in Meriden and is the 23rd largest credit union in the state of Connecticut. It is also the 1,823rd largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 13 employees and 6,197 members at 5 locations. MembersFirst CT Federal Credit Union has an A+ health rating.

Field of Membership Restrictions

Membership in MembersFirst CT Federal Credit Union is open to those who live or work in the towns of Cheshire, Hamden, Meriden, North Branford, North Haven, and Wallingford, Connecticut. Membership is also open to employees of Magnakleen, Meriden Manufacturing and over 50 area Select Employer Groups.
See current membership details

Reviews (3)

An okay credit union

This credit union is pretty average. The advantages are nice. There aren't many fees; before I switched, I was with a larger bank that would charge me if my balance was too low, if I used my debit card too much or too little, and they also had an overdraft fee. It's nice not having to worry about that, besides the over draft fee. It's also close to my house, so it doesn't take too much effort if I have to make a trip there for some reason. I do think their customer service isn't as good as it could be though. I don't expect everyone to always be warm and welcoming, sometimes you just have a bad day, but every teller I've ever interacted with has seemed irritable, like they just can't be bothered with me, which doesn't feel very good as a someone who is using their services. It's rare that I actually go into the bank though, so it is what it is. Another issue is overdrafting. I've called multiple times to ask them if they could just set my account so that I can't overdraft since their online banking service takes quite a bit of time to update sometimes, but it's never worked and I still get $30 fees every so often for it. Overall it's an okay bank, but I've recently started thinking about switching.

An Okay Credit Union

Posted by: |

Members First is an okay credit union, but I have been thinking about switching. Even though it's a minor part because most things are digital today, their customer service is absolutely horrible. I've encountered about four different tellers, and each one came off as rude and judgmental, like they couldn't be bothered to do their job, which makes me feel like I'm not welcome there at all. Other than the customer service, they are pretty average. I have over-drafted a few times and the fee is $30; I've seen higher. Their website is easy to use, as well as the online and mobile banking features. They even have a link on the website that tells you where you can find ATMs without a surcharge. Overall, Members First isn't terrible, but I'd feel a lot more comfortable with giving them my money if the people I dealt with when I was there were friendlier.

Okay option.

Posted by: |

This credit union is nice because it's very close to me, and has decent hours, and is rarely very busy. On the other hand, the workers are generally unfriendly, and occasionally even rude, which is a really big turn off, especially for a credit union. Their online banking takes a pretty long time to update as well. I could buy something with my debit card, and it can take up to 6 days to go through to my account. While it's my responsibility to manage my finances and spending, I make mistakes on occasion and have had my account overdrawn because purchases took multiple days to show up on my account, which costs me another $30. Overall, this is just an okay credit union to work with.


Health Grade Components

NCUA #1049
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD1.05%
Return on Equity - YTD10.56%
Annual Interest Income$1.5MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$100.9MM$95.5MM
LoansQ3 2022vs Q3 2021$34.8MM$30.8MM
DepositsQ3 2022vs Q3 2021$90.6MM$86.1MM
Equity CapitalQ3 2022vs Q3 2021$10.1MM$9.2MM
Loan Loss AllowanceQ3 2022vs Q3 2021$271.00K$268.00K
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$14.00K$37.00K
Real Estate OwnedQ3 2022vs Q3 2021$0$0

Rates for MembersFirst CT Federal Credit Union are currently being reviewed.


MembersFirst CT Federal Credit Union Locations
Branch Office220 Coe AveMeriden, CT 06451
Branch Office285 Broad StMeriden, CT 06450-5847
Branch Office121 Gravel StMeriden, CT 06450-4611
Branch Office163 Washington StWallingford, CT 06492-2323
Branch Office163 Washington StWallingford, CT 06492-2323

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