Mazuma Credit Union Info + Reviews

Mazuma Credit Union is the CU we’ll be focusing on here. We’ll go over important details on them like history, membership eligibility, products, and more. By the time you finish reading this, you should have a pretty good idea if it’s the right place to put your money. If you want to leave your own review from personal experience with them, you can do that at the end of this article.

If you are a member of Mazuma and you want to receive notifications when reviews come in, please ask to be added to the email list by contacting [email protected]

Here we go.

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*Routing #: 301080855

*Phone #(toll free): 1-800-808-3328

A Little History on Mazuma Credit Union

Mazuma (interesting name, by the way) was started in 1948. That’s a little later than the average credit union out there. They steadily grew over the years and in ’98, changed their name from Kansas City National Federation of Federal Employees Credit Union to Mazuma, which, according to their website is Yiddish for money.

I like that word. Today, they have nearly $627 million in total assets and over 30,000 ATMs through their involvement in the CO-OP network.

Do They Give Back?

Mazuma Credit Union does give back in a handful of ways. They support the arts, financial education, and community development. Their employees do a lot of volunteering, which is great to see.

Membership Requirements at Mazuma Credit Union

This is definitely a smaller Missouri CU, but, there’s still a pretty wide range of membership. If you live or work in Jackson, Cass or Clay counties in Missouri or Wyandotte or Johnson County in Kansas, then you’re in.

Working for the federal government also qualifies you for membership or if you have a relative who belongs, then you’re also in. That’s better than the average credit union, since 99% require that you have an immediate family member versus any relative.

At the same time, a lot of CU’s out there consider “immediate family” to include people traditionally thought of as extended family.

Their Products

Mazuma Credit Union offers personal and business products. As far as the personal products go, you can choose from checking accounts, a Mazuma-specific credit card, savings accounts, money markets, CDs, IRAs, and Wealth Management services.

There are also a few loan options, so, you should be able to get helping borrowing with them. Those loans are for auto, recreational vehicles, home, home equity line of credit, personal, and one more. Their last type of loan listed looks unique to Mazuma Credit Union.

That’s called their Easy Small Dollar Loans. Those are also called “XtraCash loans” on the actual page describing them. Sounds like a micro personal loan, so, if you really need money then this the way to go.

The amounts for those range from $100 to $500. To qualify, you need a home phone or cell number. You can only have one of these loans out at a time. Lastly, if receiving social security, the income must be for the member.

Other Products at Mazuma Credit Union

Other personal products include insurance for your home, life or vehicle. Home insurance is through the TruStage Insurance Agency. The business products are pretty basic, those include checking accounts, savings accounts, and business loans.

Those loans can be in the form of business credit cards, equipment loans, and commercial real estate loans at Mazuma Credit Union.

Rates

(rates effective as of 12/1/2021 and are subject to change without notice)

Classic CD Rates — Effective December 1, 2021 

TermRateAPY*Minimum Deposit
3 Month0.200%0.20%$500
6 Month0.250%0.25%$500
1 Year0.250%0.25%$500
18 Month0.300%0.30%$500
2 Year0.349%0.35%$500
30 Month0.349%0.35%$500
3 Year0.549%0.55%$500
4 Year0.648%0.65%$500
5 Year0.747%0.75%$500

Signature CD Rates — Effective December 1, 2021

TermRateAPY*Minimum Deposit
1 Year0.300%0.30%$10,000
18 Month0.349%0.35%$10,000
2 Year0.399%0.40%$10,000
30 Month0.399%0.40%$10,000
3 Year0.598%0.60%$10,000
4 Year0.698%0.70%$10,000
5 Year0.797%0.80%$10,000

Premier CD Rates — Effective December 1, 2021

TermRateAPY*Minimum Deposit
1 Year0.349%0.35%$25,000
18 Month0.399%0.40%$25,000
2 Year0.449%0.45%$25,000
30 Month0.449%0.45%$25,000
3 Year0.648%0.65%$25,000
4 Year0.747%0.75%$25,000
5 Year0.847%0.85%$25,000

Wealth Builder CD Rates — Effective December 1, 2021

TermRateAPY*Minimum Deposit
1 Year0.250%0.25%$100 initial deposit

Deposit CD Rates at Mazuma Credit Union— Effective November 1, 2021 

TermRateAPY*Minimum Deposit
2 Year0.349%0.35%$5,000
3 Year0.449%0.45%$5,000

Jump-Up CD Rates — Effective December 1, 2021

TermRateAPY*Minimum Deposit
2 Year0.349%0.35%$5,000
3 Year0.549%0.55%$5,000

Young Investor’s CD Rates — Effective December 1, 2021

TermRateAPY*Minimum Deposit
3 Year0.549%0.55%$100–$5,000 max

* APY = Annual Percentage Yield. As high as based on tier, term or other factors.

Penalties may be imposed for early withdraws. See Truth In Savings disclosure for additional information.

Savings Account Rates at Mazuma Credit Union

AccountDaily BalanceRateAPY*
Regular | Special Share | IRA$100–$9990.050%0.05%
Regular | Special Share | IRA$1,000–$9,9990.10%0.10%
Regular | Special Share | IRA$10,000+0.10%0.10%

Rates Effective December 1, 2021

* APY = Annual Percentage Yield. As high as based on tier, term or other factors.

Penalties may be imposed for early withdraws. See Truth In Savings disclosure for additional information.

Auto Loans

AccountTermAPR*
New Autoup to 84 monthsAs low as 2.94%
Used Auto††up to 84 monthsAs low as 2.94%

Rates Effective December 1, 2021

* APY = Annual Percentage Rate at Mazuma Credit Union. Rates and terms will vary depending on the credit-worthiness of the applicant, age of the vehicle, amount and term of the loan. Down payments may be required depending on the creditworthiness of the borrower and the age and value of the vehicle. For a $10,000 auto loan with a term of 48 months and a 2.94% APR, the monthly payment will be $221. The 2.94% rate is subject to conditions including the applicant’s credit score, age of the vehicle, the amount and term of the loan, and enrollment in an approved automatic loan payment program. All loans are subject to credit approval. Other terms and conditions may apply. Advertised rates and terms are subject to change at any time without notice. Rates Effective November 1, 2021†† Model Years 2016–2013 Add 1.00% to above rates. Model Years 2012–2007 Add 2.00% to above rates. Model Years 2006 and Older Add 3.00% to above rates.

Credit Card Rates at Mazuma Credit Union

AccountAnnual FeeAPR*Late Fee
VISA® PlatinumNone9.90% to 18.90%$15
SECURED VisaNone9.90% to 18.90%$15

Rates Effective December 1, 2021
* APR = Annual Percentage Rate. Rates are subject to change. The actual rate you receive is based on creditworthiness.

HELOC Rates

AccountTermAPR*LTV
EquiPlus Variable1Line of CreditAs low as 3.50%up to 80%
EquiGold Variable2Line of CreditAs low as 4.75%up to 100%

* APR = Annual Percentage Rate at Mazuma Credit Union. Rates Effective November 1, 2021. Rate reflects maximum available discounts. Contact a Membership Representative for rate discount qualifications.
1 Variable average 26 week T-Bill plus 3.5%.
2 Variable rate: Variable – WSJ Prime Rate plus 1.5%.

Youth Account Rates At Mazuma Credit Union

AccountRateAPY*Minimum Deposit
Money Bunny0.200%0.20%$500
FYI Savings0.250%0.25%$500
FYI CD0.549%0.55%$100
*APY = Annual Percentage Yield. As high as based on tier, term or other factors. 
Minimum Deposit of $100 for the For Young Investor CD. An early withdrawal penalty will be assessed if the certificate is redeemed prior to the maturity date. 

The Children’s Online Privacy Protection Act (COPPA) restricts the collection, use, or disclosure of Personal Information from and about children under the age of 13 on the internet. 
 
In compliance with COPPA, Mazuma Credit Union (known as “Credit Union”) is committed to protecting the online privacy of the children who visit their website. 
 
The Credit Union’s website and online services are not directed to children under the age of 13, nor is information knowingly collected from children under the age of 13. 
 
Should the Credit Union receive information (name, address, email, account number, telephone, social security number) from a child known to be under 13, the information will only be used to respond directly to the child, seek parental consent, or provide parental notice. 
 
The Credit Union is not responsible for the data collection and use practices of nonaffiliated third parties. For more information about the Children’s Online Privacy Protection Act (COPPA), please visit the Federal Trade Commission’s website.
 

Checking Rates at Mazuma Credit Union

AccountRate**APY*Minimum Deposit
Classic Checking0.000%0.00%None
Signature Checking0.150%0.15%$1,0001
Premier Checking0.170%0.17%$5,0002

Rates Effective December 1, 2021

* APY = Annual Percentage Yield. As high as based on tier, term or other factors.
** Interest earning accounts compound interest daily, paid at month-end. Rates are subject to change.
No Monthly Service Charge for Classic Checking Members, $5 for Signature Checking Members and $10 for Premier Checking Members.
1 Average daily balances more than $1,000 eliminates a $5 monthly service charge.
2 Average daily balances more than $5,000 eliminates a $10 monthly service charge.

See Truth In Savings disclosure on the Mazuma website for additional information.

VEHICLE LOANS at Mazuma Credit Union

AccountTermAPR*
Motorcycleup to 84 monthsAs low as 3.94%
RV and Boat†up to 180 monthsAs low as 3.94%
Rates Effective December 1, 2021
† Rates apply to RV’s, campers, 5th wheels, travel trailers and personal watercraft. Terms based on amount financed.

MONEY MARKET  

TierDaily BalanceRateAPY*
1$1,000–$9,9990.100%0.10%
2$10,000–$24,9990.100%0.10%
3$25,000–$49,9990.150%0.15%
4$50,000–$74,9990.200%0.20%
5$75,000–$99,9990.250%0.25%
6$100,000-$200,0000.300%0.30%
7$200,000-$500,0000.349%0.35%
8$500,000+0.399%0.40%
* APY = Annual Percentage Yield at Mazuma Credit Union. As high as based on tier, term or other factors.
Federal Regulation D limits certain types of withdrawals and transfers made from a savings or money market account to a combined total of six per account cycle. This includes withdrawals made by check or draft to third parties; debit or ATM card point-of-sale (POS) purchases; and pre-authorized withdrawals such as automatic transfers for overdraft protection and transfers made by telephone, online banking, mobile banking, bill pay, wire and facsimile. Withdrawals and/or transfers exceeding the six per account cycle allowance, will result in an excessive withdrawal fee per transaction. Please refer to the fee schedule for fees. If limitations are continuously exceeded, it may result in conversion to a Free Checking account. Withdrawals and transfers made in person at a Mazuma branch or at an ATM are not included in the limit of six per account cycle.

If a member overdraws their account they will be charged a fee. Refer to Fee Schedule for details.

Rates Effective December 1, 2021

VIEW FEE SCHEDULE

Mazuma Credit Union – Final Thoughts

If you fall within the field of membership for MCU, they are definitely worth looking at as a personal bank. Their business offerings are not quite as robust as a bigger credit unions’, however, they do still offer competitive products that will likely meet your needs if you own a small business.

They give back to the community in a number of ways, which is great to see. I really like how much their employees volunteer, too. Do you have a review of Mazuma that you would like to share? Do it right here:

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*All information in this article was current at the time of this writing, however, it could change without notice. We do our best to keep these updated, however, there is no guarantee you will find the same information on the CU’s website or at the time of opening an account with them.

*This site is not affiliated with the Credit Union mentioned in this article.

Bob Buckley

Bob Buckley writes about food and business.