Credit unions are owned and run by members, who collectively share in the profits through lower loan rates and higher yields on savings/certificates as well as other financial services provided. Credit unions are regulated by both federal and state governments to protect members funds while offering discounts such as car insurance policies or hotel rooms, plus low cost money transfer services for members.
Merced School Employees Federal Credit Union (MSEFCU), founded in 1954, boasts assets worth $371 Million and offers services such as checking, VISA credit cards and financial counseling to its customers in Merced and Modesto branches. Their employees strive to provide excellent customer care.
This organization caters to a diverse group of people in Merced County and beyond, such as school employees and students in Merced County as well as those employed at UC Merced, living within its boundaries or related to someone living here. With an expansive network of branches, call center and online banking system which enable members to manage their finances from anywhere – this credit union serves many people!
Credit unions offer an impressive variety of products and services beyond branch locations, such as auto loans, credit cards, savings accounts, certificates and an easy user-interface for managing account information, including online bill pay and mobile deposit – plus customers can subscribe to the Credit Union’s e-newsletter!
Credit unions also provide community programs that seek to enrich the lives of their members, such as scholarships for educational programs or charitable donations to local causes and organizations. Furthermore, many credit unions provide programs promoting financial literacy as a means for building savings and assets among members.
Credit unions also play an essential role in supporting local businesses by operating a small business center in Merced and offering free seminars on topics ranging from social media management to retirement planning.
The credit union works closely with both City of Merced and McClatchy Publishing to offer its members low-cost insurance policies. Staff at the credit union is specially trained to answer questions about insurance and help customers select coverage appropriate for them; additionally, members are informed of their rights under California law.
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