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Modern Employees Credit Union

Overview
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Modern Employees Credit Union is a federal credit union based in Owensboro, Kentucky. It has been opened since 1953, for 67 years.

With around $5,880,000 in assets, Modern Employees Credit Union is considered to be a small credit union.

About
Address 1727 Moseley Street
Owensboro, Kentucky 42303
Website http://www.mefcu.net
Phone (270) 685-1025
Fax (270) 685-1380
CEO Tammy Kirkpatrick
President of the Board Wayne Hicks
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
826 members
Membership type: Manufacturing – primary and fabricated metals
Below average number of members
275:1
Credit union member to staff ratio
275 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
$5,881,928
Total assets
Below average
1 branch
Compared with an average of 4 nationally and 3 in Kentucky
Average number of branches
0.15%
Savings interest rate
Compared to 0.3% nationally
11.50%
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 3 in Kentucky
Average number of branches
Modern Employees Credit Union Branch Locations

Modern Employees Federal Credit Union
1727 Moseley Street
Owensboro, Kentucky 42303
No ATM
Members
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826 members
Membership type: Manufacturing – primary and fabricated metals
Below average number of members

With 826 members, the Modern Employees Credit Union is considered to be a very small credit union. It is among the smallest credit unions and is smaller than 84% of credit unions.

Fees
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$63
Average fee per member
The average fee per member at the Modern Employees Credit Union is $63, which is high compared to most credit unions. This rate is higher than 61% 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 Modern Employees Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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275:1
Credit union member to staff ratio
275 per each FTE employee
Compared to 411:1 nationally
Tons of staff!
3 staff members
FTE (full-time equivalent)
0% of employees are part-time
3 full-time, 0 part-time

Modern Employees Credit Union has 3 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. Modern Employees Credit Union has around 275 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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$5,881,928
Total assets
Below 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.
22.6%
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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$9,616
Average loan and lease size
Loan & lease sizes are average sized. They are bigger than at 45% of credit unions.

Modern Employees Credit Union holds a total of $4,130,000 in loans and leases, which is about $9,616 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. Modern Employees Credit Union pays 0.15%.

Loan rates
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11.50%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
9.50%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
7.65%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.00%
New car loan rate
Compared to 4.0% nationally
3.75%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.25%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.69%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
Kentucky Employees Credit Union
Location
Frankfort, Kentucky
Members
11,210
Assets
Net Worth Classification
Well Capitalized
Average Fee
Credit Card Loan Interest Rate
6.25%
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Net Worth Classification
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Average Fee
Credit Card Loan Interest Rate
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Average Fee
Credit Card Loan Interest Rate
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Net Worth Classification
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Average Fee
Credit Card Loan Interest Rate
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Assets
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Average Fee
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Location
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Members
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Assets
Net Worth Classification
Well Capitalized
Average Fee
Credit Card Loan Interest Rate
8.15%
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