Missouri Credit Union Info + Review
Missouri Credit Union will be our focus here. We’re going to go over details on this financial institution like their history, products, rates and more. By the time you’re finished reading this, you should have a good idea if it makes sense to do business there. You can also leave your own review at the end if you have personal experience with them, whether you’re an employee or a customer, past or present.
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Let’s get to it.
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*Routing #: 281580417
*Phone # (to find locations): 888-748-3266
A Little History On Missouri Credit Union
There really isn’t much history on MCU on their website. According to the National Credit Union Association, they were formed in 1969 and have just over $500 million in assets today. ’69 is an interesting year for a CU to be formed because the average credit union I look at was usually started in the early 1930’s.
They have over 30,000 surcharge-free ATMs nationwide because they’re part of the CO-OP network.
Do They Give Back?
Missouri Credit Union does give back to the community, if you were wondering. They have supported organizations like the Children’s Miracle Network Hospitals, Boys & Girls Clubs of Columbia, and United Way.
According to their site, they’ve been doing things like this for over 50 years.
Membership Requirements at Missouri Credit Union
If you want to join Missouri CU, you’ll need to meet some requirements. According to their website, if you live or work in Columbia/Jefferson City area, you’re pretty much in. There are other ways on top of that, so, you aren’t limited to just that.
Operating in Audrain, Boone, Callaway, Cole, Cooper, Howard, Miller, Moniteau, Osage, or Randolph counties gets you in. Family members can get you in there. If you’re affiliated with Mizzou or other state schools, then you’ve got a good shot at getting in. It doesn’t stop there. They have a big list of employers who can get you in, so, check that out here.
Financial Products There
This looks like a great credit union for individuals. You won’t find any business offerings at Missouri Credit Union, though. Unless there are some that I couldn’t find.
There are various checking accounts that you can choose from. Those include Your Money with Interest, Your Money with Perks, and Your Money Your Way. That first one will earn you interest on the first $2,500 that you deposit in there.
You can choose from investing services here, so, your money can go to work for you. MCU has a partnership with a guy named Brian Welch at Woodbury Financial to help with that. It looks like things are going well, since they’ve been working with him for almost 20 years.
Their savings account offerings are competitive with other credit unions and banks, however, they don’t advertise them as much. Some CU’s will make a big deal about their “Christmas Savings Account” or “College Savings Account” but Missouri Credit Union just mentions them quickly on the main page for savings products.
They also offer CDs, IRAs, and Money Market Accounts. Additionally, there are youth accounts and resources for kids to learn how to manage their money responsibly.
Loans at Missouri Credit Union
MCU offers all the loans you could potentially need. Those include low-interest auto loans, Gap Insurance, and Skip-a-payment loans for cars.
If you need home loans, they’ve got you covered there, too. There’s MCU Home loans, first-time homebuyer loans, mortgage refinancing, and HELOC loan options.
Their personal loans can help get you through college or any purchase where you need some extra money. That can take the form of a standard personal loan, a line of credit, a credit or other products, according to their site.
Rates
IRA Investment Savings
Traditional, Roth, and Educational IRAs – interest paid quarterly, just $250 minimum balance to open, add to your IRA with deposits made at any MCU location or automatically through payroll deposit. IRA savings rates quoted paid through December 31, 2021.
| Savings Amount | Rate | APY |
|---|---|---|
| IRA $50,000 or more | 1.25% | 1.26% |
| IRA $0.01 – $49,999.99 | 0.25% | 0.25% |
Certificate of Deposit (CD) at Missouri Credit Union
IRA or Regular CDs interest paid quarterly on anniversary date.
Regular Certificate of Deposit, Educational IRA or Roth IRA Certificate of Deposit
| Maturity Term (Minimum Amount) | Rate | APY |
|---|---|---|
| 60 Month CD ($500 min) | 1.09% | 1.09% |
| 48 Month CD ($500 min) | 0.89% | 0.89% |
| 36 Month CD ($500 min) | 0.55% | 0.55% |
| 12 Month CD ($500 min) | 0.35% | 0.35% |
Payroll Deposit Certificate of Deposit (PD CD)
Open and add to your PD CD with convenient payroll deposit.
Low minimum to start, low minimum to add.
| Maturity Term (Minimum Amount) | Rate | APY |
|---|---|---|
| 60 Month ($20 min per month) | 1.09% | 1.09% |
| 48 Month ($20 min per month) | 0.89% | 0.89% |
| 36 Month ($20 min per month) | 0.55% | 0.55% |
| 12 Month ($20 min per month) | 0.35% | 0.35% |
Money Market Account at Missouri Credit Union
| Money Market Rates | Rate | APY |
|---|---|---|
| Avg. Daily Balance $100,000.00 or more | 0.65% | 0.65% |
| Avg. Daily Balance $50,000.00 – $99,999.99 | 0.45% | 0.45% |
| Avg. Daily Balance $25,000.00 – $49,999.99 | 0.30% | 0.30% |
| Avg. Daily Balance $10,000.00 – $24,999.99 | 0.20% | 0.20% |
| Avg. Daily Balance $1,000.00 – $9,999.99 | 0.15% | 0.15% |
Savings Plan
| Average Daily Balance (Paid Monthly) | Rate | APY |
|---|---|---|
| Avg. Daily Balance $0.01 – $25,000 | 0.10% | 0.10% |
| Avg. Daily Balance $25,000.01 – $50,000 | 0.15% | 0.15% |
| Avg. Daily Balance > $50,000 | 0.30% | 0.30% |
Your Money with Interest Checking – Reverse Tier Account
| Average Daily Balance (Paid Monthly) | Rate | APY |
|---|---|---|
| Avg. Daily Balance $0.01 – $2,500 | 1.98% | 2.00% |
| Avg. Daily Balance > $2,500 | 0.10% | 0.10% |
Health Savings Account Missouri Credit Union
| Average Daily Balance (Paid Monthly) | Rate | APY |
|---|---|---|
| Avg. Daily Balance >$1,000 | 0.10% | 0.10% |
All rates quoted include Annual Percentage Yields and are accurate as of the time this article was written. Rates and terms are subject to change without notice after the account is opened. A penalty may be imposed for withdrawals before maturity on time (term) accounts. Fees could reduce the earnings on the account, if applicable. Call 573-874-1477 (Columbia) or 573-635-8007 (Jefferson City) or 800-451-1477 Toll-free (Outside of Columbia or Jefferson City) for current rates and terms.
Mortgage Rates
Missouri Credit Union offers four different types of mortgages: Conventional, FHA, USDA and VA. You can learn more about these types of mortgages on their Home Loans page, or visit their Mortgage Loan Calculator, Mortgage FAQ or First-Time Home Buyers pages for additional information and resources.
Conventional Mortgage Rates
| Term | Rate | APR1 | Monthly Payment1 |
|---|---|---|---|
| 10 Year | 2.375% | 2.472% | $1,405.54 |
| 15 Year | 2.375% | 2.441% | $991.38 |
| 20 Year | 2.875% | 2.927% | $822.54 |
| 30 Year | 3.125% | 3.162% | $642.56 |
FHA Mortgage Rates
| Term | Rate | APR1 | Monthly Payment1 |
|---|---|---|---|
| 15 Year | 3.750% | 3.819% | $1,090.83 |
| 30 Year | 4.000% | 4.039% | $716.12 |
USDA Mortgage Rates
| Term | Rate | APR1 | Monthly Payment1 |
|---|---|---|---|
| 15 Year | 3.750% | 3.819% | $1,090.83 |
| 30 Year | 4.000% | 4.039% | $716.12 |
VA Mortgage Rates
| Term | Rate | APR1 | Monthly Payment1 |
|---|---|---|---|
| 15 Year | 3.750% | 3.819% | $1,090.83 |
| 30 Year | 4.000% | 4.039% | $716.12 |
Auto
Their current auto rates (as of this writing) are as low as 1.99% APR fixed. With approved credit, restriction may apply. Subject to change at any time.
IRA Rates
Traditional, Roth & Educational IRAs are paid interest quarterly, require just $250 minimum to open, and can be added to with Payroll Deposit. IRA Savings rates quoted paid through December 31, 2021.
| Savings Amount | Rate | APY |
|---|---|---|
| IRA $50,000 or more | 1.25% | 1.26% |
| IRA $0.01 – $49,999.99 | 0.25% | 0.25% |
Missouri Credit Union – Final Thoughts
If you’re in the market for a more local-feeling credit union that still has a broad reach in terms of ATMs and membership eligibility, MCU might be for you. Business owners should look somewhere else, since they really don’t have those types of products. They give a lot back to the community, so, that’s great to see.
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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.