12/9/20: Our Lobby Has Reopened

Our lobby has reopened, and appointments are no longer required. We again welcome walk-ins for new accounts, account changes, large transactions, loan appointments, et cetera.

11/18/20: As of Thursday, November 19, Lobby and Loans by Appointment Only Until Further Notice

Due to the Emergency Order that the MDHHS implemented today, we will be temporarily closing our lobby to walk-ins.  Our drive-up window will remain open and continue to service all three lanes.  If you would like to conduct your transaction(s) in the lobby or meet with a loan officer, please call or text us at (906) 482-5005 or email us at memberservices@mtefcu.org to schedule your appointment.  Click here to download a helpful chart that explains how you can conduct transactions and have your banking needs fulfilled during this time.  

(Added 11/19/20) Reminder: If you would like to purchase rolled coin or are bringing in coin, please come through lane 1.  We cannot send coin through the tubes in lanes 2 and 3.  Thank you!

7/13/20: Masks Required Per Governor Whitmer's Executive Order

Masks are required in all public spaces per the new executive order by Governor Whitmer unless the individual cannot medically tolerate a mask.  Our drive-thru remains open for those who do not have a mask.

6/16/20: Our Lobby Has Reopened

As of Monday, June 8, our lobby has reopened.  Members are welcome to come in to complete transactions, meet with loan officers, and open accounts.  Members who prefer to complete their transactions and account business remotely are also welcome to do so.  Please contact our office with any questions or concerns.

4/27/20: Temporary Change to Regulation D

The Federal Reserve Board announced on 4/24/20 that it has temporarily amended Regulation D in light of the COVID-19 pandemic.  Until further notice, there will be no limit on transfers and payments out of savings (share) accounts. 

4/3/2020: Assistance for Our Members

As members and businesses start to settle into this current situation, the credit union is very aware that many members have seen a disruption in their financial lives.  In order to assist members during this difficult time, the credit currently has the following assistance programs in place:

  1.  A no-fee, three-month loan deferral option for all loans.
    • Allows for members to skip three months of payments by extending the loan term
    • Mortgage loans sold on the secondary market will require additional steps
    • Reach out to your lender to apply
    • Limitations may apply
  2. A no-fee paycheck replacement loan.
    • 3% APR*
    • First payment starts in 90 days
    • Up to $3,000
    • Up to an 18-month repayment term
    • Apply online or reach out to your lender to apply
    • Limitations may apply
  3. Deposit service fee-waiving and refunding for members that have experienced income disruption due to COVID 19.
  4. Other case-by-case deposit and loan account modifications as needed.

For loan-related questions, please contact your loan officer.  For questions about your deposits and accounts, please contact Member Services at (906) 482-5005.

*Annual Percentage Rate

3/24/20: 2019 Annual Meeting Update

The MTEFCU Annual Meeting scheduled for April 15th on the 7th floor of the Magnuson Hotel in Houghton has been cancelled. However, you can download a copy of our 2019 Annual Report here.

At their normal monthly meeting in March, the Board of Directors decided that cancellation is in the best interest of the membership and complies with state and federal health recommendations and orders related to COVID-19. 

The board of directors, along with at least eight employees of the credit union, will hold the formal annual meeting at the MTEFCU office or via teleconference on April 15th at 5:30. This formal annual meeting will not be open to the membership due to the current COVID-19 health concerns. The seven Board members and eight credit union employees will fulfill the fifteen member minimum quorum that the credit union bylaws require to conduct the annual meeting. 

The attached annual meeting agenda includes informational items except for the Election of the Board of Directors. The Board felt that the health of our members and community warranted this approach of conducting the annual meeting.

The normal Election of the Board of Directors process is as follows:

  • The nominating committee consists of current Board members who are not standing for re-election. It is required to nominate one member for each open board seat.
  • We have two open board seats this election cycle.
  • The nominating committee has nominated current board member Karl Benda to run for his open seat.
  • The nominating committee has nominated Stephen Patchin to run for the second open seat vacated by current board member Terry Monson, who is term-limited.
  • The bios of these two nominees will appear on the election ballot and are included below.
  • As required by the credit union’s by-laws, the Board chair will ask if there are any nominations from the floor three times during the annual meeting.
  • If there are no nominations from the floor, then the Board chair will declare the election complete by acclamation and the two nominees will become board members.

Due to the current COVID-19 situation, members who wish to nominate a credit union member from the floor must do the following:

  1. You must send an email to me (David Rautiola), and
  2. Another voting member must second the nomination by also emailing me. 

If I receive any nominations and seconded nominations from voting members, I will reach out to the nominated member to verify they are a member in good standing and ask them to send me a bio of themselves to be included on the official election ballot. A member in good standing is one that doesn’t have any:

  • Past due loans,
  • Overdrawn deposit accounts, or
  • Unpaid NSF fees.

If we have members who meet all the criteria, we will send out an electronic email election survey to all members with the two board nominated members and the self-nominated member(s). If we have no nominations from the floor, the board chair will declare the election complete by acclamation during the formal annual meeting to be held on April 15th. Members have until 5:00 PM on Friday, March 27th to email me if they wish to nominate someone from the floor.

Our current nominees are:

  1. Karl Benda (Incumbent nominee): Karl E. Benda, PE has been a member of the credit union since 1993. He served on the Supervisory Committee from 2004-2006. He also served as the owner’s representative for the MTEFCU expansion project at the Houghton office in 2006. He is a 1975 graduate of Michigan Technological University receiving a BS in Civil Engineering. Karl is a certified professional engineer and has spent the past 41 years working for various construction companies and engineering firms. He has also served as a consultant on numerous projects. Karl is currently employed as a civil engineer/project manager with the CLK Public Schools to help complete their current building and athletic improvements.
  2. Stephen Patchin (New nominee): Dr. Stephen Patchin has been a member of the credit union since 2009. He is currently the Superintendent of the Hancock Public Schools. Stephen has earned a bachelor’s degree in Social Sciences from Michigan Technological University, a Master’s degree in Educational Leadership from the University of Cincinnati, and a PH.D of Higher Education Leadership from the University of Nebraska-Lincoln. He has held various management and educational positions through his career and was most recently the Director of Career Services at Michigan Technological University prior to accepting the Superintendent position.

Again, you can download a copy of our 2019 Annual Report here.

Since the annual meeting is not being held, the management team of the credit union will have an extra member appreciation event later in 2020 where we will share information about our 2019 highlights.

3/24/2020: Business Hours and Services Update

With the latest “Stay Home, Stay Safe” Executive Order, we want all members to know that we will remain open and do not have plans to close. Our lobby is closed to members. Our drive-thru is open and will remain open during our normal business hours. 

We promote all members to use our online, mobile, and remote services whenever possible. Our email, texting, and phones are fully staffed to meet your needs. Need to enroll in online and mobile access? Simply visit this page, email us, or text/call 906-482-5005 to enroll. 

For more information about how you can fulfill your various banking needs during quarantine, please view this handy guide.

3/23/20: Business Hours and Services Update

The lobby will be completely closed (no appointments) until further notice. Updated hours:


Mon-Thurs    8:30 am - 5:00 pm
Fri                 8:30 am - 6:00 pm
Sat                9:00 am - 12:00 pm

3/18/20: Business Hours and Services Update

Beginning tomorrow, March 19, the MTEFCU will be drive-thru only (with an exception for some appointments).

Lobby / In-branch Appointments
We will be suspending in-branch traffic until further notice, and all our staff will continue to work during business hours to answer phones, texts, and emails. Members may make an appointment to meet with a staff member during business hours, but we will be limiting these to transactions that cannot be serviced through another method. You can make an appointment through our website or by calling, texting, or emailing us. We also ask that anyone who is sick does not make an appointment in order to protect our staff and other members.
Phone: (906) 482-5005
Email: memberservices@mtefcu.org

You can still apply for loans with us via our website. If you’re already a member, most loan processes can be completed without in-person interaction with a loan officer, so apply online and a loan officer will contact you to figure out the best way to help you fulfill your needs.

Our drive-thru will remain open for regular business hours. Because of this adaptation to our service, please be aware that the wait in the drive-thru will likely be longer. We appreciate your patience.

Our eight ATMs will remain open. If you have issues with one of them, please contact us during business hours. If you regularly sanitize your ATM/debit/credit cards, be sure to use something nonabrasive, such as rubbing alcohol or an anti-bacterial wipe. If you use an ATM, wash your hands or use hand sanitizer before you touch food, your face, or another person.

Online / Mobile Banking
Most transactions can be performed via online/mobile banking or by calling us, including transfers, balance inquiries, and loan payments. If you do not yet have online/mobile banking, we suggest you enroll immediately. You do not need to come in to enroll – you can call us during business hours to do this.