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Meridian Mutual Credit Union

Overview
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Meridian Mutual Credit Union is a federal credit union based in Meridian, Mississippi. It has been opened since 1953, for 67 years.

With around $38,370,000 in assets, Meridian Mutual Credit Union is considered to be an average size credit union. It has 1 branches and 2 ATM locations.

About
Address Po Box 310
Meridian, Mississippi 39302
Website http://www.meridianmutualfcu.com
Phone (601) 693-1900
Fax (601) 482-5748
CEO Debbie Smith
President of the Board Cliff Partridge, Jr.
Services Offered
Map
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Score Card
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67 years
Years in business
Opened in 1953
Well Capitalized
Net worth classification
Source: NCUA
6,626 members
Membership type: Community credit union
Above average number of members
473:1
Credit union member to staff ratio
473 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$38,370,098
Total assets
Average size
1 branch
Compared with an average of 4 nationally and 2 in Mississippi
Above average number of branches
0.15%
Savings interest rate
Compared to 0.3% nationally
10.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 2 in Mississippi
Above average number of branches
Meridian Mutual Credit Union Branch Locations

Meridian Mutual Credit Union: Main Office
809 26th Avenue
Meridian, Mississippi 39301
ATM Available
Meridian Mutual Credit Union: Cusouth
23210 US Highway 98 Suite B1
Fairhope, Alabama 36532
No ATM
Members
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6,626 members
Membership type: Community credit union
Above average number of members

With 6,626 members, the Meridian Mutual Credit Union is considered to be a large credit union. It is larger than 62% of credit unions.

Fees
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$151
Average fee per member
The average fee per member at the Meridian Mutual Credit Union is $151, which is very high compared to most credit unions. This rate is higher than 96% 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 Meridian Mutual Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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473:1
Credit union member to staff ratio
473 per each FTE employee
Compared to 411:1 nationally
Fewer staff
14 staff members
FTE (full-time equivalent)
0% of employees are part-time
14 full-time, 0 part-time

Meridian Mutual Credit Union has 14 full-time staff members and 0 part-time staff members.

The number of members relative to staff members is an indication of how well staffed the credit union is. Meridian Mutual Credit Union has around 473 members per staff, a higher ratio compared to other credit unions.

Assets
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$38,370,098
Total assets
Average size
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.
14.4%
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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$6,337
Average loan and lease size
Loan & lease sizes are very small. They are smaller than at 83% of credit unions.

Meridian Mutual Credit Union holds a total of $12,090,000 in loans and leases, which is about $6,337 per member on average.

Savings interest rate
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0.15%
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. Meridian Mutual Credit Union pays 0.15%.

Loan rates
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10.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
15.26%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.94%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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4.30%
New car loan rate
Compared to 4.0% nationally
9.69%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.49%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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