Members Exchange Credit Union

What Members Exchange Credit Union does

Members Exchange Federal Credit Union (MEFCU) is a federally chartered, member-owned financial cooperative founded in the mid-1950s and headquartered in Ridgeland, Mississippi. The institution operates four offices—a corporate headquarters plus branch locations in Jackson, Byram, and Pearl—and serves individuals and small businesses across 22+ Mississippi counties through personal banking, business banking, credit cards, and a full lending suite covering auto, home, personal, student, recreational vehicle, and share-secured loans. The cooperative charter means earnings are returned to members via lower loan rates, higher deposit rates, and reduced fees rather than distributed to outside shareholders; there is no parent company and no external equity ownership.

Revenue is generated primarily through net interest margin on lending operations, supplemented by service charges (overdraft at $35 per item, ATM, wire transfer, loan payment processing fees), interchange on Visa debit and credit cards, and joint marketing partnerships such as CUNA Mutual Group's MEMBERCONNECT. Pricing is structured around membership eligibility and relationships, with Kasasa-branded rewards checking (up to 5.00% APY on balances under $25,000), tiered Money Market accounts, Visa Platinum Credit Cards (variable APR as low as 7.25%), and a First-Time Homebuyer Savings Account offering Mississippi state income tax deductions of up to $2,500/$5,000. Free financial counseling via GreenPath and complimentary Trustage AD&D coverage are bundled member benefits.

The technology stack is anchored by the MEFCU Anywhere mobile application (iOS and Android), which provides mobile check deposit, FICO score access, card controls, travel notices, and ATM limit management. Card products use EMV chip technology and integrate with Apple Pay, Google Pay, and Samsung Pay via tokenization and biometric authentication. The Co-OP Shared Branching and CU 24 ATM networks extend physical access to 5,000+ shared branches and 30,000+ surcharge-free ATMs nationally. Online banking, online account opening, and Bill Pay Plus round out the digital channel. Go-to-market is direct-to-consumer and community-led—physical branches, community outreach (Class of 2026 campaign, financial literacy content), word-of-mouth referrals, and digital channels—primarily targeting Mississippi residents and local small businesses within the field of membership.

Name

Members Exchange Credit Union

Legal name

Members Exchange Federal Credit Union

Website

https://mecuanywhere.com

Company type

Private

Founded year

1955

Operating status

Operating

Headcount range

11–50 employees

Short description

Members Exchange Federal Credit Union (MEFCU), founded in 1955, is a federally chartered, member-owned cooperative serving individuals and small businesses across central Mississippi with personal banking, loans, credit cards, and digital banking through branches in Ridgeland, Jackson, Byram, and Pearl.

Ownership category

akta.pro rank

Product category

Retail Banking

NAICS

Credit Unions (522130)

SIC

Savings Institution, Federally Chartered (6035)

akta.pro primary industry

Community Credit Unions (Retail/Consumer Focus) (FSABAEAA)

Keywords

• Retail banking services
• Consumer lending
• Credit union services
• Deposit accounts
• Digital banking

Headquarters

HQ city

Ridgeland

HQ country

United States

HQ region

North America

Offices4 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Interest Income from Lending: The credit union generates revenue primarily through interest collected on loans including auto loans, home loans, personal loans, credit cards, and business loans. Rates vary based on creditworthiness and loan type.
2. Account Fees and Service Charges: Monthly maintenance fees on certain checking accounts, overdraft fees ($35), ATM fees, wire transfer fees, and nominal processing fees for loan payments via debit card ($4.95) and ACH.
3. Share Account Deposits: Members deposit savings into share accounts, and the credit union uses these funds for lending operations and investments, generating income through the spread between loan interest rates and deposit rates.
4. Joint Marketing Partnerships: Joint marketing arrangements with financial service partners including CUNA Mutual Group's MEMBERCONNECT and advertising/marketing agencies.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels6 records

Core offering

Members Exchange Credit Union (MEFCU) is a not-for-profit, member-owned financial cooperative that provides personal and small business banking products to Mississippi residents. Its core offerings include checking and savings accounts (Kasasa reward checking, Members Choice, Renew second-chance, Money Market, Regular Share, Holiday/Vacation Club, IRA, Share Certificates, and First-Time Homebuyer Savings), Visa credit and debit cards, and consumer/business loans (auto, home, personal, student, recreational vehicle, business). Digital channels include the MEFCU Anywhere mobile app, online banking, digital wallets, online bill pay, and e-statements.

Product overview

Members Exchange Federal Credit Union (MEFCU) operates as a traditional credit union offering a comprehensive suite of financial products organized into personal banking, business banking, credit cards, loans, and digital banking categories. The personal banking division centers on multiple checking account options (Kasasa Cash Checking, Kasasa Cash Back Checking, Members Choice Checking, Renew Checking, Simply Checking) and savings products including Regular Share Savings, Money Market, IRA Savings, Share Certificates, and First-Time Homebuyer Savings Accounts. The credit card portfolio includes the Visa Platinum Credit Card with EMV chip security and balance transfer capabilities. Loan offerings span auto loans, home loans, student loans, personal loans, personal lines of credit, and recreational vehicle loans. Digital banking is anchored by the MEFCU Anywhere Mobile App with integrated features including mobile check deposit, FICO score access, digital wallets (Apple Pay, Google Pay, Samsung Pay), and online bill pay. Business banking includes checking, savings, loans, and mobile services. Additional support services include overdraft protection programs, financial counseling through GreenPath, identity theft protection, and credit score monitoring tools.

Differentiator

Problem solved

Functional benefit

Brands

• MEFCU Anywhere: Mobile banking application providing 24/7 access to accounts, mobile check deposit, bill payment, fund transfers, and account management features.
• OOPS!
• Kasasa

Quantifiable outcome

• Up to 5.00% APY on Kasasa Cash checking balances up to $25,000 when qualifications are met
• +5 more outcomes

Named customers5 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration10 records

Feature5 records

Partnerships

Eight partnerships are on record, tiered core and minor.

• CUNA Mutual Group (MEMBERCONNECT)coreGTM or Marketing PartnerJoint marketing partnership through CUNA Mutual Group's MEMBERCONNECT program for loan recapture programs and marketing services to members.
• Apple PaycoreTechnology or IntegrationIntegration allowing members to add MEFCU debit and credit cards to Apple Pay for secure contactless payments using tokenization and biometric authentication.
• Google PaycoreTechnology or IntegrationIntegration allowing members to add MEFCU debit and credit cards to Google Pay (Google Wallet) for secure contactless payments using tokenization and biometric authentication.
• Samsung PaycoreTechnology or IntegrationIntegration allowing members to add MEFCU debit and credit cards to Samsung Pay (Samsung Wallet) for secure contactless payments using tokenization and biometric authentication.
• Trustage Insurance AgencyminorGTM or Marketing PartnerPartnership providing MEFCU members access to no-cost AD&D (Accidental Death & Dismemberment) coverage through Trustage Insurance Agency.
• GreenPath Financial WellnesscoreStrategic or Co-development PartnerFree financial counseling partnership providing members access to budgeting, credit reports, debt repayment support, online tools, webinars, newsletters, and student loan guidance through GreenPath Financial Wellness.
• Co-OP Shared BranchingcoreChannel Partner/ Reseller/ DistributorCO-OP Shared Branching partnership providing MEFCU members access to over 5,000 shared branches and 30,000 ATMs nationwide for convenient account access when traveling or outside primary service area.
• Love My Credit Union RewardsminorGTM or Marketing PartnerMarketing partnership through Love My Credit Union Rewards program providing exclusive member savings and promotions.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Hope Credit Union: Federally chartered community credit union headquartered in Jackson, Mississippi, serving underbanked and underserved members across the Delta and central Mississippi. Comparable to MEFCU in charter type, Mississippi geographic focus, member-owned cooperative structure, and emphasis on financial wellness programs.
• Magnolia State Credit Union: Mississippi-based community credit union offering consumer deposit, lending, and digital banking products. Comparable to MEFCU as a state-chartered community credit union competing for the same Mississippi consumer and small business deposit and loan relationships.

Broad incumbents

• Trustmark National Bank: Jackson, Mississippi-headquartered commercial bank with statewide branch coverage, offering consumer and business banking, mortgages, and wealth services. Comparable to MEFCU in Mississippi consumer and SMB banking market overlap, though Trustmark operates as a for-profit bank with a much larger branch and asset base.
• BankPlus: Mississippi-headquartered regional bank with branches across the state offering consumer checking, savings, lending, and small business banking. Comparable to MEFCU as a Mississippi-based deposit and loan competitor with overlapping consumer and SMB target segments.
• Cadence Bank: Regional bank with significant Mississippi presence (formerly headquartered in Tupelo) offering consumer, small business, and commercial banking. Comparable to MEFCU in Mississippi consumer deposit and lending market overlap, with broader product breadth and scale.
• Origin Bank: Chartered in Mississippi (formerly BancorpSouth) with statewide branch presence, offering consumer banking, mortgages, and small business services. Comparable to MEFCU in Mississippi consumer deposit and loan competition, though with materially larger scale and product breadth.
• Alliant Credit Union: Large, nationally chartered digital-first credit union serving members nationwide with high-yield checking, savings, lending, and credit card products. Comparable to MEFCU as a federally chartered credit union using digital channels to acquire and serve members without dense branch dependence.
• PenFed Credit Union: One of the largest U.S. federal credit unions, offering consumer deposits, mortgages, auto loans, and credit cards nationwide. Comparable to MEFCU in federal credit union charter and member-owned cooperative structure, with substantially larger scale and national digital reach.
• Lake Michigan Credit Union: Large Michigan-based community credit union offering consumer checking, savings, mortgages, and business banking with strong digital channels. Comparable to MEFCU as a member-owned cooperative emphasizing high-yield checking rewards and digital-first member acquisition, but at materially larger scale.

Emerging players

• Connexus Credit Union: Nationally operating digital-first credit union offering high-yield deposits, lending, and digital banking tools. Comparable to MEFCU in member-owned cooperative structure and digital deposit acquisition motion, but with national rather than Mississippi-concentrated membership.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/MECUANYWHERE
• YouTubeyoutube.com/channel/UC2EpJ0BvN5yP5GRNiKZrVWw
• Facebookfacebook.com/MECUAnywhere
• Instagraminstagram.com/mecuanywhere

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Members Exchange Credit Union