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Members Cooperative Credit Union

Overview
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Members Cooperative Credit Union is a federally insured state credit union based in Duluth, Minnesota. It has been opened since 1936, for 84 years.

With around $738,390,000 in assets, Members Cooperative Credit Union is considered to be a very large credit union. It has 12 branches and 12 ATM locations.

About
Address 4628 Mike Colalillo Drive
Duluth, Minnesota 55807
Website http://www.membersccu.org
Phone (800) 296-8871
CEO Tammy Heikkinen
President of the Board Russell Salgy
Services Offered
Map
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Score Card
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84 years
Years in business
Opened in 1936
Well Capitalized
Net worth classification
Source: NCUA
50,679 members
Membership type: State chartered natural person credit union
Above average number of members
266:1
Credit union member to staff ratio
266 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
$738,388,167
Total assets
Above average
12 branches
Compared with an average of 4 nationally and 4 in Minnesota
Above average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
15.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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12 branches
Compared with an average of 4 nationally and 4 in Minnesota
Above average number of branches
Members Cooperative Credit Union Branch Locations

Members Cooperative Credit Union: Isanti
210 6th Avenue NE
Suite 1
Isanti, Minnesota 55040
ATM Available
Members Cooperative Credit Union: Mcgregor Office
149 W. Highway 210
Mcgregor, Minnesota 55760
ATM Available
Members Cooperative Credit Union: North Branch
6241 Main Street
North Branch, Minnesota 55056
ATM Available
Members Cooperative Credit Union: Sandstone
305 Lundorff Drive
Sandstone, Minnesota 55072
ATM Available
Members Cooperative Credit Union: Grand Rapids
18 NW 4th Street
Grand Rapids, Minnesota 55744
ATM Available
Members Cooperative Credit Union: West Duluth
4628 Mike Colalillo Drive
Duluth, Minnesota 55807
No ATM
Members Cooperative Credit Union: Baxter Office
14633 Edgewood Drive
Baxter, Minnesota 56425
ATM Available
Members Cooperative Credit Union: Bluestone
952 Woodland Avenue # 960
Duluth, Minnesota 55812
ATM Available
Members Cooperative Credit Union: Aitkin Office
108 Minnesota Avenue North
Aitkin, Minnesota 56431
ATM Available
Members Cooperative Credit Union: Miller Hill
605 W. Central Entrance
Duluth, Minnesota 55811
ATM Available
Members Cooperative Credit Union: Cloquet
101 14th Street
Cloquet, Minnesota 55720
ATM Available
Members Cooperative Credit Union: Duluth-Spirit Valley
215 North 40th Avenue W.
Duluth, Minnesota 55807
ATM Available
Members Cooperative Credit Union: Moose Lake
301 Elm Avenue
Moose Lake, Minnesota 55767
ATM Available
Members
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50,679 members
Membership type: State chartered natural person credit union
Above average number of members

With 50,679 members, the Members Cooperative Credit Union is considered to be a very large credit union. It is among the largest of credit unions and is larger than 91% of credit unions.

Fees
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$136
Average fee per member
The average fee per member at the Members Cooperative Credit Union is $136, which is very high compared to most credit unions. This rate is higher than 94% of all credit unions.
Fees are higher than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Members Cooperative Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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266:1
Credit union member to staff ratio
266 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
190 staff members
FTE (full-time equivalent)
2% of employees are part-time
189 full-time, 3 part-time

Members Cooperative Credit Union has 189 full-time staff members and 3 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 98% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Members Cooperative Credit Union has around 266 members per staff, a very low ratio compared to other credit unions. This is a very well staffed credit union.

Assets
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$738,388,167
Total assets
Above average
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
12.0%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$15,198
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 81% of credit unions.

Members Cooperative Credit Union holds a total of $595,280,000 in loans and leases, which is about $15,198 per member on average.

Savings interest rate
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0.10%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Members Cooperative Credit Union pays 0.10%.

Loan rates
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15.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
14.68%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
6.15%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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5.35%
New car loan rate
Compared to 4.0% nationally
6.68%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.98%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.92%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
7.74%
Other real estate loan rates
Compared to 0.9% nationally