Municipal Credit Union

Overview / Commentary
22 Cortlandt St
New York, NY 10007

Field of Membership Restrictions

Membership in Municipal Credit Union is open to the following: (1) employees and retirees of the City of New York; (2) Federal and New York state employees and retirees who work or formerly worked in the five boroughs of New York City; (3) employees of hospitals, health facilities, nursing homes or their affiliates within the state of New York; (4) employees of health insurance companies in the state of New York; (5) employees of companies who provide supplies and healthcare products to hospitals in the state of New York; (6) employees of private colleges in the New York City or private and public colleges in Nassau, Suffolk, or Westchester Counties; (7) students enrolled in a university, college, school, or institution of the City University of New York system; (8) employees of the Archdiocese of New York or Brooklyn; (9) employees who work for agencies operating within New York City and at least partially funded by New York City or the state of New York; (10) immediate family of anyone eligible.
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Reviews (3)


Posted by: |

MCU is a great provider! I have taken personal and auto loans from them in the past and doing so was quick and easy. I enjoy having human contact rather than doing things on the website; therefore, I always call them if I needed their services. I feel comfortable talking to their representatives and I believe that every company should be largely judged according to their customer service representatives.

A year ago, I needed an auto loan and decided to go with MCU. They were very helpful in helping me obtain a loan from them. While on a phone with a friendly customer service representative, he provided me with all the options so obtain a loan with the lowest interest. He took time to listen to what I wanted and needed and had no problems answering my questions. He was very informative and was happy that he was able to provide me with a auto loan with an extremely low interest rate. Thank you so much MCU!!


MCU is fast, reliable, easy, and quick. I love their service so much. I never have to wait i long lines and I never have problems that dont get resolved. The associates are fast and friendly anyone can tell that they are trained well. The atmosphere of this credit union is very family oriented. I love that i can take my brothers or sisters here and they wont be a burden to the workers because the workers are so friendly

The Absolute WORST

First things first, this review applies to EVERY MCU branch I've come across and the bank as a whole. I went to Yelp to see if I was overreacting w/ my feelings towards this joke of a financial institution. NOT AT ALL!!! After reading other reviews (some go back as far as 2014), it seems that my experiences w/ MCU are more the contentious than it just being a 'one time deal'. Their customer service is the most atrocious I have ever encountered! The worst, and I've been on hold w/ cable providers for hours and I still put them ahead of this bank. My wife is a nurse and was "given" this account when she started over a decade ago. Not an instance goes by where after we've dealt w/ this bank that I say to her "pleeeease, let's go to another bank". Locking our account w/ no warning, jumping through hoops to replace cards, no ATM's easily accessible, deposited checks that take way too long to clear, bank cards so cheaply made that the black strip becomes unreadable after regular everyday use, customer service that is only available during 'office hours, business days'...too much to list to be honest. The only thing holding us from leaving MCU is the debt we have w/ one of their cards. Once that is paid off, adios MCU!!! I am currently copying and pasting this to every review forum I can find because they and everyone needs to know how I feel and that this has been brewing in me FOR YEARS!!!! If I could leave a negative 5 stars review, I would without any hesitation.


The New York State Department of Financial Services took possession of Municipal Credit Union on May 17, 2019, and appointed NCUA conservator. In a conservatorship, the NCUA’s priority is to protect the assets of the members of Municipal Credit Union while working to maintain safe-and-sound credit union operations.

NCUA #60153
Year Chartered1917
Primary Regulator
Profit Margin
Return on Assets - YTD1.65%
Return on Equity - YTD21.63%
Annual Interest Income$50.3MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$4.35B$4.36B
LoansQ1 2024vs Q1 2023$2.57B$2.44B
DepositsQ1 2024vs Q1 2023$3.92B$3.94B
Equity CapitalQ1 2024vs Q1 2023$326.5MM$261.6MM
Loan Loss AllowanceQ1 2024vs Q1 2023$61.3MM$31.8MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$40.2MM$29.3MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Municipal Credit Union Savings Account Rates

0.05%$0-Smart Apple Savers Club
0.05%$0-Future Investors Club
0.05%$0-Holiday Club
0.05%$0-Vacation Club
0.05%*$4k*-Hero Share Accounts
OTHER TIERS: 0.01% $500 - $4k

Municipal Credit Union Money Market Rates

2.02%*$100k*-Money Market
OTHER TIERS: 0.65% $0 - $10k | 0.90% $10k - $25k | 1.51% $25k - $50k | 1.76% $50k - $100k

Municipal Credit Union CD Rates

5.12%$500-9 Month Share Certificate Special
4.85%$5-15 Month Share Certificate
3.82%$500-36 Month Share Certificate
3.56%$500-24 Month Share Certificate
3.30%$250-18 Month Deposit Plus Share Certificate
3.30%$300-18 Month Secured Visa Share Certificate
3.04%$500-6 Month Share Certificate
3.04%$500-12 Month Share Certificate

Municipal Credit Union IRA Rates

3.82%$500-36 Month IRA Certificate
3.56%$500-24 Month IRA Certificate
3.30%$100-18 Month Variable IRA Certificate
3.04%$500-6 Month IRA Certificate
3.04%$500-12 Month IRA Certificate


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