MidWest America Federal Credit Union
MidWest America Federal Credit Union is headquartered in Fort Wayne and is the 17th largest credit union in the state of Indiana. It is also the 517th largest credit union in the nation. It was established in 1936 and as of December of 2022, it had grown to 178 employees and 52,064 members at 17 locations. MidWest America Federal Credit Union has an A health rating.
Field of Membership Restrictions
Membership is open to those who live, work, worship or attend school within the Allen County Investment Area in Fort Wayne, Indiana or businesses in the area, or to those who live or work in Vermilion or Coles Counties in Illinois, or in the underserved area consisting of Allen, Barren, Christian, Monroe, and Trigg Counties, Kentucky.
See current membership details
Related Posts
6/1 - Midwest America FCU Reward Checking Down To 2.11% (From 2.31%)
3/31/09 - High-Yield Reward Checking Account at an IN/KY/IL Credit Union (MidWest America)
3/9/09 - 3.05% 18-Month CD at MidWest America Federal Credit Union in IN, KY & IL
10/1/08 - Update on MidWest America FCU's 7.01% Reward Checking Account
Friendly, simple, and efficient
As a child, my parents signed me up at their credit union. I would deposit my birthday and holiday money into my savings and it was always an exciting experience, walking into the credit union to deposit my money. When I first got a job when I was 17 years old, I added a checking account to my account at the credit union. I have never had any problems. They gave me a VISA debit card, which is incredibly easy and efficient to use. The credit union offers a variety of different programs that you can sign up for that will stretch your money further. For example, they offer a checking account program where you get a higher interest rate if you have two deposits a month, use your VISA debit at least ten times throughout the month, and your account never goes below $5. I have enjoyed that program for many years and appreciate knowing I'm stretching my money further by being a part of the program. When I changed jobs, I moved my IRA to the credit union and I have been very happy with that decision. I appreciate the fact that there are a wide number of local credit union branches that I can visit, along with even more ATM's for easy access to my account. Their online presence has improved greatly over the years, making it even more simple to maintain my accounts. The staff at the credit union are always knowledgeable, friendly, and genuinely helpful.
Overall, I am grateful to be a member of this credit union and feel like I have made a wise decision in banking locally with this credit union.
I enjoy my Credit Union.
They are decent but have a few rules especially when you deposit a non payroll check, or a personal check. If you drive up or walk in they will usually turn you away if your account doesn't have enough money to cover the check. If the check is over 200 dollars it is put on a hold for 3 business days and if you need the money then it is a pain. Like my kids get xmas and birthday checks from the wifes father and usually they will not cash them or expect to take forever to do so if and when they do. It's ok for fees and they cover overdrafts though. If you have anything besides direct deposit though you will have a rough time depositing strange checks.
Great Local Bank With Great Rates, But Subpar Online Service
I have been doing business with Midwest America since I was a child and have never had any issues with any of their services. The employees always treat me like a member of their family. The employees here listened to my financial situation and helped me open a rewards checking account in which I received an awesome interest rate on my checking account! I've had minimal fees, and they were either waived or explained each to me in a way that I understand so I can avoid receiving them in the future. The only drawback to this financial institution is that their online services are a bit dated. Online services are kept to a minimum of just basic account inquiries. For a local bank, it is good that they have online services, however they seem as if they haven't been updated in the 20 years I've had an account here.
Don’T Waste Your Time With Midwest!!!
I have been a member with Midwest America Federal Credit Union since 2010! They do not value their members! They refused to give me a very small personal loan which no is just ridiculous!!! I had absolutely no problems getting approved in 30 minutes elsewhere!!! Guess it's time to switch to a real bank and stop messing around with such nonsense from this lame credit union!
Loan And Statement Issue
Absolutely the worst online customer service I have experienced yesterday
Harass Customers And Unprofessional
Absolutely the worst customer service I have ever experienced. We have a vehicle loan with this company. We mailed a vehicle payment to them and three weeks later they called demanding to know the location of the vehicle and said they must know by 5:00pm that day. There was apparently a delay in mail services as the payment was made three weeks earlier and on time. After we called to have a stop payment On The check they then called and reported they had already received the check. This isn't the first of threatening and demanding calls. Do yourself a favor and find another bank. They harass their customers and are very unprofessional. I wouldn't even give a one star for services but was a requirement .
Closed My Account And Will Never Bank With Them Again.
They wanted to add over $1900 to my loan balance if I didn't continue to jump through their hoops. I had to go to my local bank to get a lien to pay them off, and they still wanted to add the $1900+ to my balance ( that was zero at that time ).
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 1427 |
| Year Chartered | 1936 |
| Employees | 178 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.12% |
| Return on Equity - YTD | 8.28% |
| Annual Interest Income | $24.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2022vs Q4 2021 | $797.9MM$799.1MM |
| Loans | Q4 2022vs Q4 2021 | $542.4MM$512.3MM |
| Deposits | Q4 2022vs Q4 2021 | $679.3MM$681.2MM |
| Equity Capital | Q4 2022vs Q4 2021 | $108.3MM$106.0MM |
| Loan Loss Allowance | Q4 2022vs Q4 2021 | $4.1MM$3.9MM |
| Unbacked Noncurrent Loans | Q4 2022vs Q4 2021 | $931.00K$543.00K |
| Real Estate Owned | Q4 2022vs Q4 2021 | $0$1,000 |
