Member-owned credit union serving City of Memphis employees and affiliated organizations since 1959, offering checking, savings, loans, and CDs with competitive rates.
Data compiled from public sources · Rating from CreditDoc methodology
Memphis City Employees Credit Union (MCECU) was established in 1959 and has grown to serve over 44,000 members. It operates as a member-owned, not-for-profit cooperative with an elected board of unpaid volunteers from the general membership. The credit union is headquartered in Memphis, Tennessee, and serves employees of the City of Memphis, City of Bartlett, Airport Authority, Memphis & Shelby County Library, MLGW, Smith & Nephew, IRS Service Center Memphis, and MCR Safety, plus their families and retirees.
MCECU offers a comprehensive range of personal banking services including checking and savings accounts, certificates of deposit (CDs), auto loans, personal loans, and a mobile banking app. 50% APY on 11-month CDs with $1,000-$50,000 deposit limits). The credit union also provides a "No-Credit Check Loan" option year-round, digital banking tools, and access to SavvyMoney credit score tracking for members.
As a credit union rather than a traditional bank, MCECU's member-owned structure means profits are returned to members rather than shareholders. Their membership is restricted to specific employer groups, creating a defined community of members. They emphasize member service and relationship-based lending, as evidenced by customer testimonials highlighting personalized service and fraud protection.
However, membership eligibility is highly restrictive—limited to employees of specific Memphis-area employers and their families. The credit union's service area and branch network appear limited to the Memphis region. While they offer competitive rates on loans and CDs, these are promotional rates subject to credit approval and other restrictions.
Limited information is provided on their website regarding fees, account minimums beyond CD products, or comprehensive product comparisons.
Yes. Memphis City Employees Credit Union (Mt. Moriah) is a registered company, headquartered in Memphis, TN.
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CreditDoc Diagnosis
Memphis City Employees Credit Union is best for employees of specific Memphis-area employers and their families who value member-owned banking with personalized service and competitive rates. The main caveat is membership eligibility is strictly limited to employees of designated organizations—this is not a credit union open to the general public, making it inaccessible for most consumers.
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