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Members Plus Credit Union

Overview
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Members Plus Credit Union is a federally insured state credit union based in Medford, Massachusetts. It has been opened since 1940, for 80 years.

With around $305,910,000 in assets, Members Plus Credit Union is considered to be a very large credit union. It has 6 branches and 6 ATM locations.

About
Address 29 High Street
Medford, Massachusetts 02155
Website http://memberspluscu.org
Phone (781) 905-1500
Fax (781) 306-0682
CEO John J. Murphy
President of the Board Michael Nee
Services Offered
Map
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Score Card
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80 years
Years in business
Opened in 1940
Well Capitalized
Net worth classification
Source: NCUA
13,763 members
Membership type: State chartered natural person credit union
Above average number of members
284:1
Credit union member to staff ratio
284 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
$305,910,962
Total assets
Above average
6 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Above average number of branches
0.20%
Savings interest rate
Compared to 0.3% nationally
12.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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6 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Above average number of branches
Members Plus Credit Union Branch Locations

Members Plus Credit Union: Mpcu-Main
29 High Street
Medford, Massachusetts 02155
ATM Available
Members Plus Credit Union: Norwwod
111 Lenox Street Suite 111
Norwood, Massachusetts 02062
ATM Available
Members Plus Credit Union: Plymouth
600 Rocky Hill Road
Plymouth, Massachusetts 02360
ATM Available
Members Plus Credit Union: Mass Avenue
1165 Massachusetts Avenue
Dorchester, Massachusetts 02125
ATM Available
Members Plus Credit Union: Adams Village
494 Gallivan Boulevard
Dorchester, Massachusetts 02124
ATM Available
Members Plus Credit Union: Everett
650 Broadway
Everett, Massachusetts 02149
ATM Available
Members
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13,763 members
Membership type: State chartered natural person credit union
Above average number of members

With 13,763 members, the Members Plus Credit Union is considered to be a large credit union. It is larger than 76% of credit unions.

Fees
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$56
Average fee per member
The average fee per member at the Members Plus Credit Union is $56, which is comparable to most credit unions. This rate is lower than 43% of all credit unions.
Fees are 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 Plus Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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284:1
Credit union member to staff ratio
284 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
48 staff members
FTE (full-time equivalent)
10% of employees are part-time
46 full-time, 5 part-time

Members Plus Credit Union has 46 full-time staff members and 5 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 90% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Members Plus Credit Union has around 284 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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$305,910,962
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.
14.5%
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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$25,636
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 96% of credit unions.

Members Plus Credit Union holds a total of $180,580,000 in loans and leases, which is about $25,636 per member on average.

Savings interest rate
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0.20%
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 Plus Credit Union pays 0.20%.

Loan rates
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12.90%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
12.99%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.29%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.95%
New car loan rate
Compared to 4.0% nationally
3.52%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.75%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally