Mobiloil Federal Credit Union

Popular Accounts at this Credit Union

APY	ACCOUNT TYPE	HOW THEY COMPARE
2.48%	5-year CD	3.10% - Goldman Sachs Bank USA High-yield 5 Year CD
2.27%	4-year CD	2.85% - Barclays 48 Month Online CD
2.02%	3-year CD	2.85% - Synchrony Bank 36 Month CD

View all Mobiloil Federal Credit Union rates »

Overview / Commentary

www.mobiloilcu.org

409-892-1111

1810 N Major Dr
Beaumont, TX 77713

Mobiloil Federal Credit Union is headquartered in Beaumont and is the 30^th largest credit union in the state of Texas. It is also the 387^th largest credit union in the nation. It was established in 1935 and as of June of 2018, it had grown to 190 employees and 54,100 members at 10 locations. Mobiloil Federal Credit Union's CD rates are 62% higher than the national average, and it boasts an A+ health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, and attend school in Jefferson, Hardin, Jasper, Orange, Newton, Chambers, Liberty and Tyler Counties, and business and organizations of those eligible. Membership is also open to family of existing members.
See current membership details

Some Of The Best Rates Nationwide...

Posted by: KeithJ | Apr 2, 2014

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.

ADDED::
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.

Comment

3

Awful Experience

Posted by: JD33 | Oct 18, 2017

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.”

Comment

1

Bad Management And Doesnt Want Your Business

Posted by: russb777 | Oct 5, 2012

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

Comment

2

Health

A+

Data as of Q2 2018

Learn why bank health matters

Health Grade Components

Overall
NCUA #	491
Year Chartered	1935
Employees	190
Primary Regulator

Profit Margin
Return on Assets - YTD	1.29%
Return on Equity - YTD	10.98%
Annual Interest Income	$15.6MM

Assets and Liabilities
Assets	Q2 2018vs Q2 2017	$775.7MM$704.8MM
Loans	Q2 2018vs Q2 2017	$636.9MM$586.1MM
Deposits	Q2 2018vs Q2 2017	$624.1MM$537.3MM
Equity Capital	Q2 2018vs Q2 2017	$92.3MM$83.1MM
Loan Loss Allowance	Q2 2018vs Q2 2017	$6.1MM$5.8MM
Unbacked Noncurrent Loans	Q2 2018vs Q2 2017	$2.1MM$3.2MM
Real Estate Owned	Q2 2018vs Q2 2017	$0$0

Rates

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