In February of 1971, a group of employees met to establish a Credit Union. The purpose of this Credit Union was to pool small quantities of personal financial resources by those members willing to invest savings in a joint venture that would bring a fair return to all that belonged. At the same time the Credit Union would provide capital for other members who may, at one time or another, wish to for productive purposes and promise to repay promptly so additional members can draw from available funds as occasions of need arise.
Memorial Employees Federal Credit Union is operated under a charter which was granted in accordance with the Federal Credit Union Act, Public Law 86-354. Memorial Employees Federal Credit Union is governed by laws, rules and regulations of the National Credit Union Administration. All accounts are insured up to $250,000.00 by the National Credit Union Administration.
In the beginning of each year, all Credit Union members are invited to attend an annual meeting. A summary of the past year's finances, activities and growth are reviewed. Election of Credit Union Officials is held. Any member of the Credit Union is eligible to run for a position on the Board of Directors or the Credit Committee. All members of the Board of Directors and the Credit Committee serve on a voluntary basis.
Our mission is to grow along with our sponsor by providing lifelong personal service and innovative financial products.