Can I become a member of Mutual Credit Union?
Yes — if you live, work, worship, or volunteer in one of the 7 counties we serve, you can be a member! The counties we serve are Warren, Yazoo, Hinds, Sharkey, Claiborne, Copiah, and Issaquena. You can also be sponsored by a family member who is already a Mutual Credit Union member.
I’m already using a bank, what makes a credit union so different?
A credit union can provide the same products and offerings as a bank, but credit unions are not-for-profit, which means the savings they get is passed on to their members through lower interest rates on loans, and higher dividends on deposits. A credit union is a cooperatively owned financial institution, basically, “people helping people”. A volunteer Board of Directors and Supervisory Committee are democratically elected by the members of the credit union to represent their best interests.
Why do you call your customers "members?"
We use the term member because when a person opens an account with us, they are getting a “share” and are now a member of the credit union. We answer to our members, not shareholders like a bank does.
What types of loans do you offer?
We have all types of loans — some examples are new and used auto loans, mortgages, personal loans both with and without collateral, loans for boats, RVs, and ATVs as well as lines of credit such as credit cards and home equity lines of credit. If you can dream it, we can find a loan for it.
That’s great, but I hit a rough patch not long ago and my credit isn’t the best so how could you help me?
That’s one of the great things about being a Mutual Credit Union member. Not only do we supply credit to people with less than stellar histories, we can also work with you to help put you on the right path to financial success. We have certified credit union financial counselors at every branch to help you find a way to success, and there is no charge for these services, ever!
I hear that rates are really low on homes right now. Do you refinance homes?
You’re right, rates are still very low and no one is sure when they will start to rise, so this is the time to buy or refinance your home. We have a range of products to help you get into the home of your dreams, or to refinance the one you already have including 30-year conventional, FHA, VA, and others!
What happens if I miss a payment?
Because your credit is greatly tied to your payment history, we encourage you to do everything in your power not to miss or fall behind on payments. However, if you do, make sure to call one of our branches to let us know that your payment will be late. We can even help you to find a way to help you create a budget and counsel you so future payments are on time.
What if I need to change my address or phone number?
No problem! Our friendly member service representatives are happy to make changes that are needed — just call or stop by any of our convenient locations.
I travel a lot. Since you’re only in Mississippi, I’m afraid I’ll end up paying lots of fees when I need cash or have to deposit a check.
Luckily, Mutual Credit Union is a part of a worldwide network of credit unions that cooperate to make sure that no matter which participating branch or ATM you visit, it will be just like doing business with your local Mutual Credit Union branch. Plus, you can get refunds on ATM withdrawal fees, nationwide* with free Kasasa® checking.
What happens if I move out of state?
Once a member, always a member at Mutual Credit Union. There’s no need to close your account, you can still receive all of Mutual Credit Union’s services and products no matter where you live. That’s when our branch networks become really useful.
I’m constantly on the go. How can I keep track of my accounts?
Mutual Credit Union makes it easy to bank on the go. We have free online banking at mutualcu.org and a free mobile app that lets you pay your bills, make transfers, and check your balances — all in the palm of your hand.
I like to keep track of my spending, and I’ve seen some other places that offer something for me to keep track of those online, how can I do that?
We now offer a PFM (Personal Finance Manager) tool right in your homebanking account. It’s easy, no need to transfer account information to an outside site. Budget and track your spending right from your account page!