Mutual Savings Credit Union

Overview / Commentary

www.mutualsavings.org

205-682-1100

2040 Valleydale Rd
Hoover, AL 35244-2006

Mutual Savings Credit Union is headquartered in Hoover and is the 23^rd largest credit union in the state of Alabama. It is also the 1,160^th largest credit union in the nation. It was established in 1936 and as of June of 2020, it had grown to 77 employees and 28,176 members at 9 locations. Mutual Savings Credit Union's money market rates are 14% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Mutual Savings Credit Union is open to: (1) those who attend school, live, worship, or work in Autauga, Bibb, Blount, Chilton, Clay, Coosa, Dallas, Jefferson, Shelby, St. Clair, Talladega, Tuscaloosa, or Walker counties or within a 50-mile radius of Alexander City, Alabama; (2) family of existing Mutual Savings members; (3) an employee of a Mutual Savings sponsor group.
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Reviews (2)

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They Get 1 Star Because You Cant Go Lower!!!

Posted by: allimo883 | Oct 6, 2014

Customer service at this bank is HORRIBLE!!! If you ever get anyone on the phone, let expect you to pay a $3.00 fee. Mrs. Jackson over in loans is the rudest person in the HISTORY of customer service . When I asked to speak to her supervisor after she started yelling at me, she replied by saying "I am someone else!". I was calling because they debited my account without my authorization...and got absolutely NOTHING resolved. Steer clear of this bank! I wouldn't finance a piece of bubble gum or give them 50 cents to put in an account with my name on it!!!!!!!!!

Comment

Bad Service

Posted by: Anonymous | Oct 4, 2011

I have not been happy with the service the credit union provides. It is difficult to get anyone on the phone, or get a straight answer to any of my questions. If I could move my loan, I would.

Comment

Health

B+

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #	60501
Year Chartered	1936
Employees	77
Primary Regulator

Profit Margin
Return on Assets - YTD	-0.03%
Return on Equity - YTD	-0.32%
Annual Interest Income	$3.0MM

Assets and Liabilities
Assets	Q2 2020vs Q2 2019	$197.5MM$174.9MM
Loans	Q2 2020vs Q2 2019	$121.7MM$119.9MM
Deposits	Q2 2020vs Q2 2019	$175.0MM$153.2MM
Equity Capital	Q2 2020vs Q2 2019	$16.8MM$16.1MM
Loan Loss Allowance	Q2 2020vs Q2 2019	$946.00K$1.1MM
Unbacked Noncurrent Loans	Q2 2020vs Q2 2019	$490.00K$499.00K
Real Estate Owned	Q2 2020vs Q2 2019	$1.7MM$1.7MM

Rates

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Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not Mutual Savings 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.

Mutual Savings Credit Union Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%	$100	-	Christmas Club
0.10%	$100	-	IRA Club
0.10%	$100	-	Basic/Vacation Club
0.10%	$100	-	Share Savings Account
0.05%	$2.5k	-	Super Saver Clubs

Mutual Savings Credit Union Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$100k^*	-	Silver Elite Money Market
OTHER TIERS: 0.25% → $25k - $75k \| 0.35% → $75k - $100k
0.45%^*	$100k^*	-	Select Money Market
OTHER TIERS: 0.10% → $2.5k - $25k \| 0.20% → $25k - $75k \| 0.35% → $75k - $100k
0.15%^*	$25k^*	-	Business Money Market
OTHER TIERS: 0.10% → $5k - $25k

Mutual Savings Credit Union Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.35%^*	-	$25k	Rising Rewards Checking - Qualifying
OTHER TIERS: 0.10% → $25k+
0.10%	$20k	-	Vision Business Checking

Mutual Savings Credit Union CD Rates

APY	MIN	MAX	ACCOUNT NAME
1.20%	-	-	5 Year CD
1.20%	-	-	60 Month Silver Elite CD
0.95%	-	-	3 Year CD
0.95%	-	-	36 Month Silver Elite CD
0.75%	-	-	2 Year CD
0.50%	-	-	1 Year CD
0.50%	-	-	12 Month Silver Elite CD
0.30%	-	-	6 Month CD

Mutual Savings Credit Union IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.20%	-	-	5 Year IRA
1.20%	-	-	60 Month Silver Elite IRA
0.95%	-	-	3 Year IRA
0.95%	-	-	36 Month Silver Elite IRA
0.75%	-	-	2 Year IRA
0.50%	-	-	1 Year IRA
0.50%	-	-	12 Month Silver Elite IRA
0.30%	-	-	6 Month IRA

Locations

Mutual Savings Credit Union Locations
Branch Office	199 Bessemer Super Hwy	Birmingham, AL 35228-2101
Branch Office	1501 7th St S	Clanton, AL 35045-8785
Branch Office	3596 Pelham Pkwy	Pelham, AL 35124-2034
Branch Office	907 Medical Center Pkwy	Selma, AL 36701-6746
Branch Office	136 Marketplace Cir Ste D	Calera, AL 35040
Branch Office	1030 Lee St	Alexander City, AL 35010-2655
Branch Office	2040 Valleydale Rd	Hoover, AL 35244-2006
Branch Office	3000 Winewood Rd	Birmingham, AL 35215
Branch Office	16072 Highway 216	Brookwood, AL 35444

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