About MEFCU

Mayo Employees Federal Credit Union was formed in 1933 by a group of Mayo Clinic business office employees. Their purpose was twofold: (1) to pool their money and loan it to other employees and, (2) to provide member service and education. We take pride in continuing that commitment today. Since its formation, Mayo Employees Federal Credit Union has grown to over 34,000 member-owners, with assets in excess of $274 million.

Mayo Employees Federal Credit Union is dedicated to helping members achieve their financial goals. Since we are a member-owned, not-for-profit financial cooperative, earnings are distributed back to members in the form of higher dividends on savings and lower loan rates.

Mayo Employees Federal Credit Union is chartered and supervised by the National Credit Union Administration (NCUA).

Deposits are federally insured to $250,000 by the National Credit Union Administration, a U. S. government agency. For deposit accounts that exceed $250,000, Mayo Employees Federal Credit Union provides -- at no cost to members -- additional deposit insurance of $250,000 through American Share Insurance, the nation's largest private deposit insurer. For IRA deposits, NCUA insurance covers deposits up to $250,000 and American Share Insurance provides an additional $250,000. Your IRA deposits are insured up to a total of $500,000. Your hard-earned money is safe at MEFCU!

Mayo Employees Federal Credit Union is owned and directed by the membership. The members of the Board of Directors are volunteers elected to serve a three-year term. View MEFCU's Privacy Statement.

Mayo Employees Federal Credit Union welcomes your comments and questions. For a list of offices, hours and phone numbers, see Locations and Hours.