Credit unions — one, big happy family. And growing.
At MECU, our members often comment on the friendliness of our staff, and the thoughtful way we really seem to care about the people we serve. Well, it’s no coincidence, really. It’s what credit unions were always intended to be — a refreshing and rewarding alternative to the bigger, traditional banking institutions.
Observing the dramatic growth credit unions have experienced for decades, the concept has obviously caught on. Today, countless people, just like you, are enjoying the many exceptional benefits and highly competitive financial products and services credit unions offer.
So what is it about a credit union?
For starters, banks are typically owned by shareholder investors. So, not surprisingly, the principal purpose of a bank is to return financial profits to its owners or shareholders.
Unlike banks, credit unions are financial cooperatives — in other words, not-for-profit institutions that are owned by their members. As such, a credit union exists solely to serve the needs of its members, all of whom technically “share” in a credit union’s ownership.
The sole purpose of a credit union is to provide the best possible value to its members — usually by offering better rates and fewer and lower fees on its financial products and services. Any profits remaining after its expenses are paid are then reinvested in the credit union for the exclusive benefit of its members.
The people who make up MECU.
Membership in MECU is available to employees, contractors and retirees of Motorola Mobility, Motorola Solutions, Continental, Nokia Siemens Networks and their successors; the subsidiaries, joint venture companies and successors of Motorola Mobility, Motorola Solutions, Continental and Nokia Siemens Networks; and anyone related to current MECU members by blood or marriage, including foster, adopted and step family members. Same-sex and domestic partners are also eligible for membership.
MECU is a credit union chartered under Illinois state laws, and currently serves members living all across the country.
Why is MECU a perfect choice for you?
Is MECU right for you?
Care to join us?