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Overview / Commentary
828-456-8627
38 Maple St
Waynesville, NC 28786-5764

Mountain Credit Union is headquartered in Waynesville and is the 18th largest credit union in the state of North Carolina. It is also the 1,064th largest credit union in the nation. It was established in 1963 and as of March of 2016, it had grown to 59 employees and 22,551 members at 8 locations. Mountain Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to those who live, work, worship, or attend school in Buncombe, Cherokee, Clay, Graham, Haywood, Henderson, Jackson, Macon, Madison and Swain Counties of North Carolina or those love live or work on the Cherokee Indian Reservation. Membership is also open to all federal employees located in the 20 western counties of North Carolina, including field personnel paid from an office located in those counties and to immediate family of current members.
See current membership details

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Reviews (4)

Good place to bank

Posted by: Erin | Oct 20, 2014

This is a great credit union. A wonderful credit union. The tellers are nice and the bankers are nice. There are no fees. There are no fees for anything unless you overdraw. The credit union reimburses your ATM fees so you can go anywhere without having to worry about paying a ridiculous fee. There is a great interest rate. This is a good alternative to a bank. Take the money away from big banks and help the little guys out.

Changes To Account

Posted by: fa28 | Dec 31, 2010

Just recieved a letter from MCU about the change in rate from 4.15 to 3.15 and change in applied max amount from $25,000 to $15,000.

Mountain Credit Union Is A Nightmare

Posted by: Guardian | Jul 15, 2014

Like many people who've grown disgusted with traditional banks, I decided to switch to my local Credit Union, in this case, Mountain Credit Union. Boy was that a mistake. I have never encountered a more inept, poorly run, Mickey Mouse financial institution in my life.

First and foremost, they have no way to verify and/or instantly exchange funds electronically with other financial institutions like traditional banks do. Their solution to this crippling deficiency is to just arbitrarily decide when to credit your account with a deposit that contains a check, and when they want to put a "hold" on the check.

There doesn't appear to be any rhyme or reason to when they decide to sit on your money for 7-10 business days. They randomly do it with in-state checks and checks in the exact same amount, written by the exact same people, that they have promptly credited your account with before.

Their latest excuse for putting a 10 day hold on an in-state, Bank of American check is "We need a Manager's approval for a $1012.00 deposited check, and we don't have a Manager this week."
Even I, as a private citizen, can call Bank of America to verify funds on a check, so why they can't is completely beyond me? Do they need a Manager to show them how to use the telephone?

Since they lack even an ordinary person's ability to verify sufficient funds are present in an in-state, Bank of America account, one can only assume that they're using a Magic 8 Ball to decide when you can actually access your deposit?

Of course if you are counting on using the funds you deposited before the next ice age sets in, they wreak total havoc on your bill paying ability by not having anything that even remotely resembles a consistent policy on deposits.

Their attitude about holding funds drawn on an in-state, BoA account for what amounts to a week or two is "Oh well, too bad. We're going let it sit and collect interest for us until we get around to clearing it....and no, there is no Manager for you to talk to."

Their "on-line banking" is even worse. It can take up to a week for the bill you paid on-line to be received by the payee, even if it is an "instant pay" system like Duke Energy's, Direct TV's, etc.

Apparently since Mountain Credit Union does not have a "relationship" with other banks or utilities... Duke Energy, Frontier, Direct TV etc. they wait until they have a large sack of payments from their on-line Banking site, put it on the back of a donkey, stroll it across the mountains while allowing the donkey to graze occasionally, then eventually tie your payment to a rock and throw it on the payee's doorstep as they amble on by.

While the idea of not supporting the "Big Banks" is nice, having a Credit Union randomly sit on both payments and deposits for weeks is completely unacceptable.

It's no wonder the big banks are thriving if all credit unions are as archaic, inconsistent, and bovine slow as Mountain Credit Union. Don't make the mistake of opening an account with them...you'd be better off buying your own donkey.

Expect No Customer Service

Posted by: Stejw | Mar 9, 2015

Mountain Credit Union has excellent loan rates, but if you have a problem with your account(s), expect no customer service. Their web technology is extremely poor. You can snail mail bills faster than paying through bill pay. I guess they can offer competitive rates by cutting the rest of their services. I have also had one member of the Sylva office be extremely rude when I asked about a fee charged to my account.



Health
A

Health Grade Components

Overall
NCUA #68531
Year Chartered1963
Employees59
Primary Regulator
Profit Margin
Return on Assets - YTD0.96%
Return on Equity - YTD8.72%
Annual Interest Income$1.8MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$180.6MM$168.3MM
LoansQ1 2016vs Q1 2015$106.9MM$101.5MM
DepositsQ1 2016vs Q1 2015$159.7MM$149.3MM
Equity CapitalQ1 2016vs Q1 2015$19.7MM$18.2MM
Loan Loss AllowanceQ1 2016vs Q1 2015$560.00K$346.00K
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$1.3MM$764.00K
Real Estate OwnedQ1 2016vs Q1 2015$7.00K$7.00K
Rates
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Always verify rates and promotions with the bank or credit union. We are not Mountain 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.

Mountain Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.15%--Traditional IRA Account
1.15%--Roth IRA Account
1.15%--Education IRA Account
1.15%--Health Savings Account
0.20%$100-Regular Savings
0.20%--Christmas Club
0.20%--Special Savings
0.20%--Youth Savings

Mountain Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$25k*-Money Maket Account
OTHER TIERS: 0.25% $1k - $5k | 0.35% $5k - $25k

Mountain Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%--Regular Checking
0.10%--Student Checking
0.10%$1,500-Business Checking
0.10%$100-Non-Profit Checking

Mountain Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.50%$2,500-12 Month CD
0.40%$2,500-6 Month CD
Locations


Mountain Credit Union Locations
Branch Office38 Maple StWaynesville, NC 28786-5764
Branch Office219 Haywood StAsheville, NC 28801-2618
Branch Office721 N Main StWaynesville, NC 28786-3821
Branch Office3533 US 441 NWhittier, NC 28789-8735
Branch Office3270 Hendersonville RdFletcher, NC 28732-9242
Branch Office746 E Main StFranklin, NC 28734-2674
Branch Office1453 Sand Hill RdCandler, NC 28715
Branch Office30 Highway 107Sylva, NC 28779