Mutual Security Credit Union
Mutual Security Credit Union is headquartered in SHELTON and is the 8th largest credit union in the state of Connecticut. It is also the 917th largest credit union in the nation. It was established in 1982 and as of December of 2024, it had grown to 67 employees and 26,670 members at 10 locations. Mutual Security Credit Union has an A health rating.
Field of Membership Restrictions
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
Not Recommended
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.
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68479 |
| Year Chartered | 1982 |
| Employees | 67 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.36% |
| Return on Equity - YTD | 4.02% |
| Annual Interest Income | $16.4MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $355MM$357.5MM |
| Loans | Q4 2024vs Q4 2023 | $312MM$324MM |
| Deposits | Q4 2024vs Q4 2023 | $313.6MM$306.9MM |
| Equity Capital | Q4 2024vs Q4 2023 | $31.5MM$30.2MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $1.3MM$1.5MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $864K$1.3MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |