Thinking about switching to the Michigan Tech Employees Federal Credit Union? We’re excited for you to join us! Here are the top three reasons for why we encourage our community to make the switch:
1. Credit unions tend to have lower loan interest rates and less service fees than traditional banks.
Credit unions are not-for-profit organizations, whereas traditional banks have stockholders. Because of this, credit unions are able to take profits from loan interest and fees and put them right back into the credit union, which results in lower loan interest rates and less service fees and therefore benefits the members. Meanwhile, traditional banks have to make enough profits to pay their stockholders, so they are focused on making profits while credit unions are dedicated to providing excellent service and products to their members.
2. Anyone who lives, works, worships, goes to school, or conducts business in the Houghton-Keweenaw-Baraga area can become a member of the MTEFCU.
Despite our name, the MTEFCU does not exclusively serve employees of Michigan Technological University. Anyone who lives or conducts any kind of personal or professional business in Houghton, Keweenaw, or Baraga counties is eligible to join. We serve all ages, organizations, and even businesses (click here for details on the business types we serve)! Right now, the MTEFCU has almost 9,900 members, which means that more than 1/5 of all tri-county residents have at least one account at the MTEFCU.
3. If you travel frequently or live too far to come in regularly, you can still perform most of your banking with the MTEFCU remotely.
- Online Banking: Our online portal allows you to check balances, transfer funds, make loan payments, set up eAlerts, view statements, and more! Click here and select "Not a User?" on the grey bar to enroll if you’re already a member.
- Mobile App: With our mobile app, you can deposit checks, check balances, make transfers, make loan payments, manage your credit and debit cards, and more! Click to download for iPhone or Android if you’re already a member.
- ATMs: The MTEFCU has 8 local no-fee ATMs, and we are affiliated with the MoneyPass network, which gives our members access to over 37,000 no-fee ATMs all over the country! Go to www.moneypass.com to look up the area you will be in/passing through to find an ATM.
- Direct Deposit: We can help you set up direct deposit so your paycheck is automatically deposited into your savings or checking account.
- Docusign: When it comes to significant changes or transactions which require a signature, we have a secure method for you to digitally sign documents wherever you are.
- iTalk: You can call our 24/7 automated system to check your balances, make transfers, check pending deposits, make loan payments, and more! If you're already a member and are interested in iTalk, call us and we'll get you all set up.
Click here for a convenient, comprehensive list of all the actions and routes you can take to accomplish your banking remotely with the MTEFCU.