Mobiloil Federal Credit Union is headquartered in Beaumont and is the 32nd largest credit union in the state of Texas. It is also the 401st largest credit union in the nation. It was established in 1935 and as of June of 2022, it had grown to 250 employees and 71,767 members at 12 locations. Mobiloil Federal Credit Union has an A+ health rating.
Membership in Mobiloil Federal Credit Union is open to those who live, work, worship, or attend school in the Texas counties of Chambers, Hardin, Jasper, Jefferson, Liberty, Newton, Orange, or Tyler, and business and organizations of those eligible. Membership is also open to family of existing members.
See current membership details
My wife and I just opened Roth IRA share certificates with Mobil Oil Federal Credit Union. We looked around for the best rates available and MOFCU had the top 5 year rates. We might not get rich on the 2.53% APY however its an improvement over what Pentagon Fed Credit Union was offering for renewal of the CDs.
They were very helpful in setting up the accounts but note we did go to a local office in person. It was well worth the 45 minute investment.
After 4 years with MOFCU, my enthusiasm has dropped like their interest rates. Our 5 year CDs will mature in 2019 which will be moved to Navy Federal Credit Union thus closing our MOFCU accounts.
They blocked so many nickel and dime credit card transactions due to “fraud” at the post office for a couple dollars, Exxonmobil gas stations, homedepot, a pea in the pod, and more. The after hours line is AWFUL for unblocking transactions! I HATED constantly calling them to unblock my wife and I’s cards during hours and after hours, what a nightmare
Also, there rates suck, not really better then non-credit unions. They may be setup like a credit union, but they always had higher rates and fees then most other brick and mortar banks I checked with for loans.
I banked with them for 5 years and can count on one hand the amount of overdraft fees with fingers to spare. Recently, a bill debit’d my account 3 times causing me to incur 3 late fees. Mobil refused to offer any credits. Ok, whatever, you can have the $90 total!
The website is cheap like one of there nephews in high school did it. It is atrocious to use on a Mobil phone, which I was using because their app was not any better! I could see the board, which is comprised of locals from Beaumont, saying to one another “hey does your brothers nephew taking a web design class in high school.”
After deposit of large sum which I got from ING savings they put a 7 business day hold, after asking to see manager twice the teller told me Ok 5 days hold. Wow you would think they have seen 1000s of these checks from savings plan. Maybe they think ING wouldn't cover the check, guess I can go another week without central air, Thank MOFCU
|Return on Assets - YTD||1.05%|
|Return on Equity - YTD||8.52%|
|Annual Interest Income||$16.8MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$1.07B$1.02B|
|Loans||Q2 2022vs Q2 2021||$787.0MM$735.6MM|
|Deposits||Q2 2022vs Q2 2021||$849.5MM$792.7MM|
|Equity Capital||Q2 2022vs Q2 2021||$131.6MM$121.0MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$8.0MM$7.8MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$3.3MM$4.3MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$0|
Rates for Mobiloil Federal Credit Union are currently being reviewed.