Mutual Security Credit Union is headquartered in SHELTON and is the 8th largest credit union in the state of Connecticut. It is also the 892nd largest credit union in the nation. It was established in 1982 and as of June of 2022, it had grown to 66 employees and 26,837 members at 11 locations. Mutual Security Credit Union has a B+ health rating.
Membership in Mutual Security Credit Union is open to those who live, work, worship, or attend school in the Connecticut counties of Fairfield, Litchfield, or New Haven.
See current membership details
Very unhappy with the CU--I opened my account in 1982, and I felt that as a long time member I deserved better than to have the CU remove all of my funds $5 at a time in a sudden change of policy last year. Sure, I should have paid attention to my statements, but as they have not varied much in the **40** years I have been a member, I really did not expect to suddenly have "inactivity fees" assessed until now my balance is pretty much 0. The person I spoke to claimed that the CU had ":reached out to me multiple times via email and phone" but could not tell me what email address or phone number they might have used, and I certainly did not receive any such communication. Beware, prospective members, as this institution apparently feels it should behave as a commercial bank does now. Too bad. I guess they can send my last 2 statements as they zero out my account completely, and at least I'll have the satisfaction of costing them a couple of postage stamps.
|Return on Assets - YTD||0.55%|
|Return on Equity - YTD||7.54%|
|Annual Interest Income||$5.4MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$356.1MM$346.7MM|
|Loans||Q2 2022vs Q2 2021||$300.4MM$272.4MM|
|Deposits||Q2 2022vs Q2 2021||$312.2MM$302.9MM|
|Equity Capital||Q2 2022vs Q2 2021||$25.8MM$25.9MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$834.00K$1.1MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$609.00K$1.2MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$185.00K|
Rates for Mutual Security Credit Union are currently being reviewed.