Rave Financial

Rave Financial

Overview / Commentary
3535 Calder Ave
Beaumont, TX 77706

Rave Financial is headquartered in Beaumont and is the 32nd largest credit union in the state of Texas. It is also the 413th largest credit union in the nation. It was established in 1935 and as of March of 2024, it had grown to 295 employees and 79,552 members at 12 locations. Rave Financial's CD rates are 6X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Rave Financial is open to those who live, work, worship, or attend school in the Texas counties of Chambers, Hardin, Jasper, Jefferson, Liberty, Newton, Orange, Galveston, Tyler, Harris, Polk, Montgomery, San Jacinto, Sabine, Angelina or San Augustine.
See current membership details

Reviews (3)

Some Of The Best Rates Nationwide...

Posted by: |

My wife and I just opened Roth IRA share certificates with Mobil Oil Federal Credit Union. We looked around for the best rates available and MOFCU had the top 5 year rates. We might not get rich on the 2.53% APY however its an improvement over what Pentagon Fed Credit Union was offering for renewal of the CDs.

They were very helpful in setting up the accounts but note we did go to a local office in person. It was well worth the 45 minute investment.

After 4 years with MOFCU, my enthusiasm has dropped like their interest rates. Our 5 year CDs will mature in 2019 which will be moved to Navy Federal Credit Union thus closing our MOFCU accounts.

Awful Experience

Posted by: |

They blocked so many nickel and dime credit card transactions due to “fraud” at the post office for a couple dollars, Exxonmobil gas stations, homedepot, a pea in the pod, and more. The after hours line is AWFUL for unblocking transactions! I HATED constantly calling them to unblock my wife and I’s cards during hours and after hours, what a nightmare

Also, there rates suck, not really better then non-credit unions. They may be setup like a credit union, but they always had higher rates and fees then most other brick and mortar banks I checked with for loans.

I banked with them for 5 years and can count on one hand the amount of overdraft fees with fingers to spare. Recently, a bill debit’d my account 3 times causing me to incur 3 late fees. Mobil refused to offer any credits. Ok, whatever, you can have the $90 total!

The website is cheap like one of there nephews in high school did it. It is atrocious to use on a Mobil phone, which I was using because their app was not any better! I could see the board, which is comprised of locals from Beaumont, saying to one another “hey does your brothers nephew taking a web design class in high school.”

Bad Management And Doesnt Want Your Business

Posted by: |

After deposit of large sum which I got from ING savings they put a 7 business day hold, after asking to see manager twice the teller told me Ok 5 days hold. Wow you would think they have seen 1000s of these checks from savings plan. Maybe they think ING wouldn't cover the check, guess I can go another week without central air, Thank MOFCU


Health Grade Components

NCUA #68735
Year Chartered1935
Primary Regulator
Profit Margin
Return on Assets - YTD0.27%
Return on Equity - YTD2.08%
Annual Interest Income$12.1MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$1.1B$1.08B
LoansQ1 2024vs Q1 2023$828.9MM$795.5MM
DepositsQ1 2024vs Q1 2023$858.1MM$865MM
Equity CapitalQ1 2024vs Q1 2023$142.7MM$134.1MM
Loan Loss AllowanceQ1 2024vs Q1 2023$12.1MM$13.7MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$4.5MM$3.2MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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Always verify rates and promotions with the bank or credit union. We are not Rave Financial; 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.

Rave Financial Savings Account Rates

0.20%$5-Share Savings Account
0.20%$500-IRA Savings
0.20%$25-Christmas Saver
0.20%$25-Vacation Saver

Rave Financial Money Market Rates

0.80%*$25k*-Money Market Account
OTHER TIERS: 0.40% $0 - $10k | 0.60% $10k - $25k
0.80%*$25k*-Business Flex Money Market
OTHER TIERS: 0.40% $0 - $10k | 0.60% $10k - $25k

Rave Financial Checking Account Rates

6.10%*$1k*$25kChecking Account
OTHER TIERS: 0.50% $25k+
6.10%*$1k*$25kBusiness Plus Checking Account
OTHER TIERS: 0.50% $25k+

Rave Financial CD Rates

6.00%$1k-6 Month CD Special
5.25%$1k-12 Month CD Special
4.50%$1k-12 Month CD
4.50%$5k-Business 12 Month CD
4.00%$1k-6 Month CD
4.00%$250-6 Month Smart Teen CD
4.00%$5k-Business 6 Month CD
3.00%$1k-5 Year CD
3.00%$5k-Business 5 Year CD
2.80%$1k-4 Year CD
2.80%$5k-Business 4 Year CD
2.70%$1k-3 Year CD
2.70%$5k-Business 3 Year CD
2.50%$1k-24 Month CD
2.50%$5k-Business 24 Month CD
2.35%$1k-18 Month CD
2.35%$5k-Business 18 Month CD
0.75%$1k-3 Month CD
0.75%$5k-Business 3 Month CD

Rave Financial IRA Rates

4.50%$1k-12 Month IRA
4.00%$1k-6 Month IRA
3.00%$1k-5 Year IRA
2.80%$1k-4 Year IRA
2.70%$1k-3 Year IRA
2.50%$1k-24 Month IRA
2.35%$1k-18 Month IRA
0.75%$1k-3 Month IRA


Beaumont Area

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