Who Is Montauk Credit Union?

Montauk Credit Union (MCU) is a New York State Chartered financial institution, chartered in 1922 in the "Montauk" section of Brooklyn. We are a not-for-profit, member-owned financial institution cooperative dedicated to providing quality financial products and services delivered in a professional, courteous and timely manner. We have over $50 million in assets and approximately 4,500 members. MCU has an "open charter" which enables us to extend membership to anyone. Our primary mission is to satisfy the many financial needs of our members.

Unlike banks that are strictly profit-driven, we return excess earnings to our members in the following forms:

• High dividend rates paid on savings and investment accounts
• Low interest rates on loans, and
• The addition of valuable new products and services.
  

Our products and services are designed to help you manage your personal financial affairs at the lowest possible cost. Because we are member-owned, our criteria for judging success is based on member satisfaction, not profits. Accordingly, our staff is committed to providing the personal attention you deserve in satisfying your individual financial needs.

Membership Is Free For Life?

Membership in Montauk Credit Union is free. When you join, the first account you open is a Share Savings Account. It is referred to as "share savings" because as a cooperative financial association, members own the credit union. Your initial deposit of $25.00 to open a Share Savings Account represents your "share" of ownership. It is not a fee; it goes directly into your newly established account.

As "part-owner" of the credit union, you will have full access to the many convenient and money-saving products and services we offer. Membership in Montauk Credit Union is a benefit available to you for a lifetime, even if you change jobs, relocate or retire. What's more, your family members and friends are also eligible to join.

Your Money Is Safe?

The safety of your money is an important consideration when you evaluate any financial institution. At Montauk Credit Union, you can be assured your money is secure. Each member's deposit accounts are insured for up to $100,000 by the National Credit Union Administration (NCUA), an agency of the federal government. No one has ever lost a penny placed in trust with a federally insured credit union.

"People Helping People"

We offer confidential, professional, courteous, and personalized service. At Montauk Credit Union, the credit union motto of "People Helping People" is not some fancy slogan, it's something we believe in and practice everyday!

We invite you to become a part of our growing family of satisfied members and to discover, first-hand, the many benefits of credit union membership.

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