Overview / Commentary
700 N Alameda St
Los Angeles, CA 90012

MWD Federal Credit Union is headquartered in LOS ANGELES and is the 207th largest credit union in the state of California. It is also the 2,443rd largest credit union in the nation. It was established in 1956 and as of September of 2018, it had grown to 5 employees and 2,836 members at 1 location. MWD Federal Credit Union's CD rates are 3X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership is open to employees or retirees of Metropolitan Water District of Southern California and their family.
See current membership details

Reviews (3)

its conveniently located but thats it

Posted by: kamilyons | Feb 26, 2017

I have a checking and savings account with my credit union. I use this account to pay bills. the branch is located at work so it is very convenient for me to withdraw funds and deposit money. But that is pretty much the only incentive. the rates are not comparable at all to outside online banks. For example, the savings account offers .5 interest rate. You can get 1% elsewhere. Furthermore, the mobile application sucks. Always crashes. The bank also takes forever to deposit money and transfer money between accounts.

Location is key

The only reason I keep this credit union is because it is located at my work, which makes depositing and withdrawing very convenient. Besides location, this bank doesn't offer much else. The rates are not competitive and everything takes forever. Credit card payments sometime takes over 3 days to appear online. Money transfers take even longer (sometimes up to a week). Furthermore, their mobile app is awful. It does not work 80 percent of the time. The credit union also has very low caps on transferring money and money transfers to friends is not free.

It is Pretty Lame By Today's Standards

Posted by: MWD | May 12, 2016

I joined my credit union at work since they praised higher interest rates and such. Which is true, they offer higher rates for both savings and checking. I opened up a checking and realized how behind the times they were with technology. I am coming from Wells Fargo where practically everything can be done through mobile. The credit union's website is a complete mess. It looks like it belongs in 2005. The first thing i did was try to pay rent to my landlord. The online website charges a .50 cent fee to pay my landlord through email. That is ridiculous considering most banks offer it for free or there are many applications that offer it for free. I went and asked the bank teller if there was another option and he said that I can use the mobile app, which would be free. I use the mobile app only to find out that I am limited of only sending 1000 dollars a day. I contacted my landlord to let him know that i will be paying in two installments. Surprise! Surprise! the mobile app failed to send payment 3 times. At this point, I give up and am returning to Wells Fargo.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. MWD Federal Credit Union has a low asset base.

Health Grade Components

NCUA #10837
Year Chartered1956
Primary Regulator
Profit Margin
Return on Assets - YTD-1.93%
Return on Equity - YTD-18.11%
Annual Interest Income$1.1MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$44.9MM$48.9MM
LoansQ3 2018vs Q3 2017$20.3MM$19.9MM
DepositsQ3 2018vs Q3 2017$39.0MM$42.2MM
Equity CapitalQ3 2018vs Q3 2017$5.0MM$5.7MM
Loan Loss AllowanceQ3 2018vs Q3 2017$187.00K$113.00K
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$73.00K$7.00K
Real Estate OwnedQ3 2018vs Q3 2017$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.

MWD Federal Credit Union Savings Account Rates

0.20%--Coverdell Education Savings Account
0.10%$5-Share Savings Account
0.10%--Holiday Club Account
0.10%$5-Tappy the Turtle Club Account

MWD Federal Credit Union Money Market Rates

1.00%*$100k*-Money Market Account
OTHER TIERS: 0.40% Up to $10k | 0.50% $10k - $50k | 0.80% $50k - $100k

MWD Federal Credit Union Checking Account Rates

1.50%$50-Money Stream High-Yield Checking Account
0.05%$50-Share Draft Account

MWD Federal Credit Union CD Rates

3.00%$10k-60 Month Jumbo Share Certificate
2.90%$1k-60 Month Share Certificate
2.60%$1k-36 Month Share Certificate Account
2.50%$1k-24 Month Share Certificate Account
2.50%*$95k*-12 Month Jumbo Share Certificates
OTHER TIERS: 2.25% $50k - $95k
2.20%$1k-18 Month Share Certificate Account
2.00%$1k-12 Month Share Certificate Account
2.00%$10k-6 Month Jumbo Share Certificates
1.50%$1k-6 Month Share Certificate Account

MWD Federal Credit Union IRA Rates

3.00%$10k-60 Month Jumbo IRA Certificate
2.90%$1k-60 Month IRA Certificate
2.60%$1k-36 Month IRA Certificate Account
2.50%*$95k*-12 Month Jumbo IRA Certificates
OTHER TIERS: 2.25% $50k - $95k
2.50%$1k-24 Month IRA Certificate Account
2.20%$1k-18 Month IRA Certificate Account
2.00%$10k-6 Month Jumbo IRA Certificates
2.00%$1k-12 Month IRA Certificate Account
1.50%$1k-6 Month IRA Certificate Account

MWD Federal Credit Union Locations
Branch Office700 N ALAMEDA STLOS ANGELES, CA 90012

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