Intro – Motorola Employees Credit Union Reviews & Ranking
AdvisoryHQ recently published its list and review of the top credit unions in Illinois, a list that included Motorola Employees Credit Union.
Below we have highlighted some of the many reasons Motorola Employees Credit Union was selected as one of the best credit unions in Illinois.
Click here for a detailed review of AdvisoryHQ’s selection methodology: AdvisoryHQ’s Methodology for Selecting Top Banks and Credit Unions
Motorola Employees Credit Union Review
Motorola Employees Credit Union (MECU) was founded in 1939 as a financial cooperative guided by the laws of the state of Illinois. It started with ten members who each deposited $5, and by the end of that year, the membership had already grown to 474. MECU offers strength and security, with almost $900 million in assets and more than $74 million in capital.
MECU pairs old-fashioned service and community-based delivery with innovation and technology, all while putting the members first. Some of the services include basic banking and deposit accounts, credit cards, loans, and investments.
Image Source: MECU
Key Factors Leading Us to Rank This Firm as One of This Year’s Top Credit Union Firms
Upon completing our detailed review, Motorola Employees Credit Union was included in AdvisoryHQ’s ranking of this year’s best credit unions based on the following factors.
MECU Review: Online Banking
The online banking platform from MECU offers almost everything a member could need or want in terms of managing their money and accounts 24/7, so they don’t even have to visit a branch location.
Some of the features of MECU’s online banking include the following:
- Balance inquiries for various accounts
- Access account history
- Transfer funds between MECU deposit accounts
- Make MECU loan and credit card payments from a checking, savings or money market account
- Make fast and easy online bill payments
- Set up account management alerts
- Request a loan or advance
- Make external transfers between MECU and other financial institutions
- Zero liability with the Total Protection Guarantee
- Paid check images
- 60-day transaction records
- 36-month statement history is available
Image Source: MECU
MECU Review: Business Banking
MECU is one of the Illinois credit unions that offers business banking. Business owners can gain the same advantages of individual members, including low-interest rates on loans and high dividends paid on deposit accounts. It’s also easy to streamline your business and personal finances as a member of MECU. Business banking options from MECU include:
- Business checking and savings
- Business money markets with a tiered rate structure
- Business Visa credit cards
- Business Visa Debit cards with ScoreCard points
- Business loans for equipment, commercial real estate, residential investment, vehicle, and business lines of credit
- Merchant services for expanded payment options
MECU Review: Overdraft Services
Overdraft services from MECU are designed as a convenient benefit to members, which helps them avoid unnecessary fees resulting from overdrafts. Every MECU checking account is appointed with automatic Overdraft Privilege if you’re a member in good standing. If you meet this criterion and don’t have sufficient funds in your account, the transaction is automatically paid by MECU, and then you pay a fee.
Overdraft Transfer is an option that automatically moves available funds from an MECU savings account into a checking account to cover overdrafts.
There’s also Debit Card Overdraft Privilege, which is an optional service designed to provide coverage for everyday, one-time debit card transactions.
MECU Review: Mobile Banking
Mobile banking from MECU includes the ability to download the app quickly and easily from the Google Play Store or App Store. You can then, at no cost, manage your checking accounts, including both personal and business as well as your savings accounts such as holiday, vacation, IRA, HSAs, and business savings.
Image Source: MECU
Other accounts that can be managed via the app are certificates, personal and business loans, mortgages, and credit cards. You can check balances, make transfers, pay bills, and more.
In addition to reviewing the above Motorola Employees Credit Union review, you can click on any of the links below to browse exclusive reviews of AdvisoryHQ’s top rated banking firms & credit unions:
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