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Please be advised that the ATMs at our Georgetown branch, located at 2142 Ralph Avenue in Brooklyn, will be temporarily unavailable due to a planned electrical shutdown from 5pm – 2am on the upcoming days:

*July 1st - > July 3rd 
 *July 5th

During these times, please visit one of our other local ATMs or use our Digital Banking platform. We apologize for any inconvenience this may cause.

Account Services

Where can I find my Routing and Account Number?

Both are listed on the bottom of your MCU personal checks. Please see the diagram below for reference:



Can I get my payments taken out of my payroll?

Your payments can be automatically transferred from your MCU savings or checking account. Payroll deduction can be established to deposit directly to your savings or checking account.

ATMs & Branches

Can we have an ATM at our location?

There are certain criteria and restrictions. For further information please contact us at or (212) 238-3420.

Where are your branch locations/ATM locations?

You can search for MCU Branch and ATM locations here.

Where can I find MCU branches and fee-free ATMs?

Check out our page featuring all of our branches and ATMs. Choose from any of our 15 locations, and search for various fee-free ATM options.

How do I find a free ATM to use?

Find an ATM near you by inputting your zip code or sharing your current location on the device you’re using, here. If you’re wary of turning on location services, remember that you can adjust your selection in Settings or in the Permissions Settings of the browser you’re using.

Auto Loans & Services

How do I apply for an auto loan?

You can submit an application using your NYMCU Digital Banking account—just log in to your existing account to get started. Not a member yet? Join MCU to apply.

What is Accident Forgiveness?

Accident Forgiveness through TruStage® ensures that your insurance rate won’t rise after your first accident.

Why does pre-approval matter?

Getting pre-approved for an auto loan shows you the amount that you’re approved for before you go in to purchase a new vehicle, helping you set a manageable budget for your new car purchase. Having this information beforehand empowers you to make smart spending decisions and gives you greater buying power at the dealership to help you save money.

What is GAP coverage?

Guaranteed Asset Protection (GAP) s a voluntary, non-insurance product designed to waive the remaining loan balance not 
covered by the borrower's primary insurance carrier settlement in the event of a total loss or unrecovered theft, subject to 
limitations and exclusions, including but not limited to loan-to-value (LTV) maximum, delinquent payments, late charges, 
refundable service warranty contracts and other insurance related charges. 

GAP covers the difference between the borrower’s outstanding loan balance and the actual cash value (ACV) of the vehicle up to the maximum LTV%. 

How does the MCU Car Buying Service work?

The MCU Car Buying Service is provided through a partnership with TrueCar®. You can use the service to find a new or used vehicle, apply for financing and make a purchase all within a single process. Learn more here.

What is a prepayment fee?

A prepayment fee is a fee for paying off your loan early. We waive repayment fees for our members when they choose to refinance with us.

Is there a fee for using the MCU Car Buying Service?

As part of our partnership with TrueCar®, there is no fee for utilizing the car buying service.

How does auto refinancing work?

Refinancing your car means replacing your current auto loan with a new one. Refinancing your auto loan can drive down your monthly payment cost and help you avoid prepayment penalties.

What is Better Car Replacement?

Better Car Replacement through TruStage® means you have the option to choose a replacement car that is 1 year newer than your totaled vehicle.

What is MSRP?

MSRP stands for Manufacturer’s Suggested Retail Price. It is the price that the specific car manufacturer recommends the vehicle should be sold for. While this price does influence the final cost of the car, depending on certain scenarios the price may end up being higher or lower than this recommended amount.

Will refinancing transfer ownership of my car to someone else?

No! Registered owners will retain ownership of the vehicle even if they decide to refinance.


I don’t see an open position that’s right for me. Can I still apply?

Yes! We are always building our list of talented potential team members. Please feel free to send us your resume by:

MCU Human Resources Department
Municipal Credit Union
22 Cortlandt Street
New York, NY 10007

How will I know if my application is being reviewed?

Due to the number of applications we receive, we cannot alert each candidate when their application is reviewed. However, we will be sure to contact you if we want to move forward with the following steps—keep an eye out for a message or call!

I am disabled but would love to work for MCU. What kind of accommodations do you offer at your bank for team members?

We’re excited to learn about your interest in joining the team! At MCU, we’re committed to providing equal employment opportunities for everyone, regardless of disability. Here are a few of the accommodations we provide to make that possible:

  • Improved accessibility to navigate the work area
  • Services to increase access to work materials
  • Changing or reassigning job tasks to accommodate needs
  • Reserved accessible parking spaces
If there is a specific accommodation you would like to incorporate, feel free to let us know!

How long does it take to hear back about my job application?

Although not a steadfast rule, expect to hear back regarding your job application in about 1-2 weeks. If you haven’t heard from us by then, feel free to reach out by email at

Checking & Savings

Can I be sure that my deposits are safe?

The National Credit Union Administration (NCUA) insures MCU deposits, so you can trust that your funds are safe. The NCUA is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions. Your savings are federally insured to at least $250,000 by the full faith and credit of the United States Government. Additionally, the Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) provides federal production to IRAs up to $1 million (some restrictions may apply depending on roll-over status and uniquely unqualified accounts).

What’s the difference between "available balance" and "total balance"?

Your total balance is the amount of money held in your account. Your available balance may be higher or lower than your total balance and includes all pending transactions.

Are my savings insured?

The National Credit Union Administration (NCUA) insures MCU so you can trust that your funds are safe. The NCUA is an independent federal agency that insures deposits at federally insured credit unions, protects the members who own credit unions, and charters and regulates federal credit unions. Your savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

Is there a monthly fee on savings products?

No, there is no monthly fee associated with MCU savings products, but there is an initial minimum deposit to open the account.

Can I use my MCU debit card anywhere?

Your MCU debit card can be used at any location that also uses credit cards, including ATMs.

Is there a maximum amount of transactions I can make with my Everyday Hero Checking Account?

There is no limit on the amount of transactions you can make with an MCU checking account each month.

How do I know which savings product is best suited for my needs?

Our member services team would be happy to set you up with an account that meets your needs! Please reach out to speak with one of our member service experts today.

What happens if I need the money in my Share Certificate Account before the term is up?

You may access the money in your Share Certificate Account before the term is officially up, but there will be an early-withdrawal penalty.

Can I extend my Share Certificate term for another investment once my term is up?

Yes, unless instructed otherwise, your Share Certificate will automatically renew at maturity. However, there will be a grace period in which you may access your funds if needed.

Club Accounts

Can I open my account at any time of the year?

Yes! Feel free to open your account at anytime of the year that you see fit for you and your family.

Can I access my money early without penalty?

At MCU, we allow one complimentary withdrawal without penalty of closing the account.

What is the schedule of when dividends are paid?

Dividends are compounded monthly, and are paid for Vacation Club on May 1st and Holiday Club on November 1st.


What makes MCU different from a "'normal" bank?

A credit union is a not-for-profit financial institution cooperatively owned by its members. Typically, this ensures that policies and rates benefit members collectively rather than shareholder dividends. Earnings go back to members in the form of better rates, fewer fees, improvements to our services, and investments in our communities.

Are my deposits insured?

Your savings are federally insured by the National Credit Union Administration (NCUA), a U.S. Government Agency. Savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.

Why do credit unions have members?

To join a credit union, you must belong to the “field of membership” that it serves. The field of membership is the common link that all members of a credit union share and it can be based on employer, geographic location (e.g. New York City), membership in another group (a church, school, labor union), or being family with a credit union member.

Am I eligible to become an MCU member?

You may be! We welcome members from all over New York. For more details, please visit

Getting in Touch

How do we contact you to set up a site visit?

To set up a site visit, contact us at or (212) 238-3420.

Who can I contact if I have questions about my account?

You have questions, and we have answers! Feel free to reach out to the MCU Contact Center, and we'll help you by providing the answers you need.

Hours: Monday - Friday: 7:00am -7:00pm
Saturday: 9am - 2pm
Sunday: Closed
1-844-MCU-NYNY (1-844-628-6969)

Partnering with MCU

What is Human Resources’ role in a partnership with MCU?

When partnering with MCU, Human Resources plays a minimal role. Responsibilities are usually restricted to scheduling site visits and processing payroll and direct deposit forms.

How long does it take until the employee's account is opened?

Generally, it takes 7 to 10 business days for an employee's account to be opened.

When will employees have their direct deposits set up?

It takes 2 to 3 pay periods for direct deposits and automatic transfers to be set up.

Do our employees need cash to open their accounts?

No. We do not require deposits to open an account.

How do we contact you if we have questions about partnering with MCU?

If you have any questions regarding partnering with Municipal Credit Union, contact us at or (212) 238-3420.

Can our employees take MCU into retirement?

Yes. Retirement does not affect your membership in MCU. Once you are a member of MCU, you are always a member.

Home Loans

Do I need to get a home appraisal?

Yes—MCU will provide valuation services during your application process. To get more information, please contact one of our loan officers.

Do I need to get pre-approved before buying a home?

While mortgage pre-approval is not required to make an offer on a house, getting pre-approved is highly recommended if you are planning to buy.

Pre-approval gives you a better idea of the loan amount you can get, the fees associated with it, and allows you to better budget for your future home.

In addition, sellers and realtors will be much more likely to accept an offer from someone with pre-approval.

Is there a cap on how much I can borrow with a conventional loan?

Yes. A conventional loan will allow you to purchase a home for up to $647,200 in most counties and up to $970,800 in high-cost counties.

Do Jumbo Mortgages need to be a 30-year fixed rate loan?

No, Jumbo Mortgages do not have to be a 30-year loan, and come in various term lengths depending on your specific needs.

Is there someone that can help me with questions I have?

Yes! Our team is here to help you in any way we can. Feel free to connect with one of our knowledgeable MCU Lending Sales Specialists to get your questions answered today. Call: 212-238-3521.

How do I know if I qualify for a High-Balance Mortgage?

Depending on the size of your down payment, you must have a credit score of at least 620. Your down payment must be at least 5% of the home’s appraised market value and your debt-to-income ratio cannot exceed 45%. Apply for pre-approval today to get started.

Which is better, a fixed-rate or an adjustable-rate mortgage?

We encourage you to speak to one of our expert lending officers for more detailed information, but, generally speaking, a fixed-rate mortgage may fit the needs of a buyer when the initial mortgage rate is lower, as it allows you to lock in said rate. If the current rate is high or if you won’t be owning the property for a standard mortgage term, an adjustable-rate mortgage may be more appropriate as the rates tend to be lower earlier on in the life of the mortgage.

Is a Home Equity Loan’s interest rate fixed or variable?

An MCU Home Equity Loan has a fixed interest rate and typically delivers the funds to you in one lump sum. If you are looking for a more flexible option with a variable rate, consider a Home Equity Line of Credit (HELOC) with MCU.

What’s the difference between a home equity loan or a home equity line of credit?

Home equity loans and home equity lines of credit (HELOCs) are loans that are secured by the borrower’s home. Because both use your home as collateral, they usually have much better interest terms than personal loans, credit cards, and other unsecured debt. A home equity loan through MCU is paid on a fixed monthly basis, with an interest rate that doesn't change throughout the term of the loan. HELOCs are revolving credit lines that come with variable interest rates. For that reason, borrowers are subject to variable minimum payment amounts.

What happens if I don’t use the full value of my home equity line of credit?

While the entire credit limit is available when the HELOC is funded, you are not obligated to use the entire amount. You can think of a HELOC like a credit card in that you qualify for a certain amount and you only need to pay off what you utilize.

Am I able to refinance my mortgage in the future?

Usually, yes.

However, there are criteria you must meet to refinance your home, depending on the type of mortgage you have and the type of refinance you want.

For most types of mortgages, you’ll need to have:

  • Owned and occupied the house for at least 7 months
  • Had a mortgage on the house for at least 7 months
  • No late mortgage payments in the last 6 months
  • 1 or fewer late mortgage payments in the past 12 months

For conventional mortgages, often you can refinances as soon as you’d like as long as you use a different lender.

If you need specific advice on refinancing your own mortgage, talk to one of our MCU Lending Sales Specialists.

What’s the difference between a conforming and nonconforming loan?

A conforming loan is determined by guidelines set by agencies like Fannie Mae and Freddie Mac, which are backed by the federal government.

Conforming loans tend to have lower interest rates because there is a larger secondary market for them, which means you'll have lower monthly payments and spend less total over the life of the loan.

Conforming loans are highly standardized, since they must meet federal requirements. While it's always good to take time to consider any financial decision, federal requirements limit the likelihood that you'll be subject to unusual lender conditions.

Conforming loans are more likely to have protections backed by the federal government built in for when you face setbacks, such as an economic recession.

Conforming loans are more difficult to obtain for borrowers with low incomes, no or low credit scores, and higher debt-to-income (DTI) ratios.

A nonconforming loan is literally any mortgage loan that doesn't meet the requirements for a conforming loan—should've known! This doesn't mean they're less advantageous; for example, commercial properties are often financed with nonconforming loans.

Nonconforming loans tend to have more variety, which means you might get more flexibility since you may not be held to the stringent requirements of conforming loans. For instance, you might be able to afford to buy in a more expensive area or buy a type of home that isn't eligible for a conforming loan.

Nonconforming loans are inherently available to more borrowers, and some lenders even offer nonconforming loans specifically as solutions for a borrower with no or low credit, low household income, or even a past bankruptcy.

Since these loans are more accessible, they are also more expensive. Any lender will tend to charge more for borrowers that pose a higher risk, so you'll pay a higher down payment, higher interest rates, and potentially higher fees.

Though a conforming loan is often the first choice, nonconforming loans can offer flexibility and increase the likelihood of your loan application being accepted.

How can I get a better mortgage rate?

There are a lot of factors that go into determining mortgage rates. Most of these factors are outside of your control—for example, overall economic growth and the interest rates set by the Federal Reserve.

However, there are things you can do to ensure you’re getting the best rate you can on your mortgage:

  • Focus on your credit score
  • The higher your credit score, the more likely you’ll qualify for a lower mortgage rate.
  • Save up for your down payment
  • More money down will shrink your loan-to-value ratio, meaning you’ll likely qualify for better rates on a smaller mortgage.
  • Find the type of mortgage that’s right for you
  • Our MCU Lending Sales Specialists are always here to help.
  • If you are a first-time home buyer, there may be programs to help make your mortgage more affordable. MCU can help with those too!.

How do I set up my monthly mortgage payment?

There are a few ways to set up your mortgage payments:

  1. Set up automatic payments through the MCU website or app
  2. Make a payment by visiting your MCU branch
  3. Send a check by mail each month

What type of documentation do I need for a conventional loan?

When you’re ready to apply for a conventional loan, it’s a good idea to have these documents ready to go:

  • Tax returns
  • Pay stubs, W-2s or other proof of income
  • Bank statements and other assets
  • Credit history report
  • Gift letters
  • Photo ID
  • Renting history
  • Debt history

Can I only buy certain types of homes with a conventional loan?

You are not limited in the types of homes you can buy with a conventional loan. You can buy a single-family house, condo, apartment, etc.—it’s up to you!

What is the primary benefit of conventional loans?

The primary benefit of a conventional loan is its ability to reward borrowers with good-standing credit with a much lower interest rate throughout the loan term.

How much of the down payment do I need for a conventional loan?

You will find that the minimum down payment for a conventional loan is 3%. However, those with lower credit or higher debt-to-income ratios may be required to put down a more significant initial down payment.

Do Jumbo Mortgages have affordable interest rates?

A common misconception about Jumbo Mortgages is that the interest rate will be dramatically higher than a conventional loan due to the high cost of the home. However, Jumbo Mortgages have very competitive interest rates, and in some cases, may be even lower than a traditional conventional mortgage.

What is the limit of the loan?

You may borrow up to $970,800 for a Jumbo Mortgage for a single-family home in high-cost living areas.

Is it hard to qualify for Jumbo Mortgage?

Because Jumbo Mortgages are reserved for higher-cost homes that fall above the federal loan limit, it is typically more difficult to qualify than a conventional loan. However, Jumbo Mortgages offer competitive interest rates and allow borrowers to set down roots in high-cost areas.

What is the limit of a High-Balance Mortgage?

You may borrow up to $970,800 for a Jumbo Mortgage for a single-family home in high-cost living areas.

Do I need a 30-month term to have a High-Balance Mortgage?

No, High-Balance Mortgages do not have to be 30 years. You can also do a 15-year term depending on your goals.

How will a mortgage affect my credit score?

Getting a mortgage can be a benefit to your credit score in the long term!

Your credit score might dip when you initially take out your mortgage, but mortgages can improve your ‘credit mix’ and add to your credit history. Both of these will improve your credit score over time—something you likely won’t get when paying rent or a lease.

What happens if I want to move before I finish paying off my loan?

If you move before paying off your loan entirely, you are responsible for paying the loan in full at the time of the sale of your property.

What percent down do I need for an Investment Property Loan?

Typically, you’ll need to put down 20-25% of the total property value.

What’s the difference between a fixed-rate mortgage and an adjustable-rate mortgage?

While the fixed-rate mortgage may be self-explanatory—your mortgage rate, monthly principal, and interest payment remain the same throughout the life of your loan—an Adjustable Rate Mortgage (ARM) may be less so. An ARM has its rates change periodically based on a specific, pre-defined benchmark. With those changes of rates, your payments may also change. For more information on how ARMs work, feel free to reach out to an MCU Lending Sales Specialist.

Is there a maximum on how much my rate can increase?

Yes. Adjustable Rate Mortgages (ARMs) do have a pre-set rate limit. The rate limit differs depending on your loan. For more information, please visit our rates page:

I’m not planning on staying in my home for long, is an Adjustable Rate Mortgage right for me?

If you don’t plan on staying in your home for a typical mortgage term, an Adjustable Rate Mortgage (ARM) may be a good choice for you, as it is more likely your rates will be lower at the start of the life of your loan.

Is it better to have a short or long term mortgage plan?

The answer to this question is entirely dependent on your financial situation. When thinking long-term, it is apparent that you will save more on the interest incurred over a shorter, 15-year mortgage than you would with a 30-year one. However, your payment for a 15-year mortgage will typically be higher and therefore depends on your ability to pay an increased monthly mortgage.

What is the limit I can borrow?

Your borrowing limit will be determined based on a mix of factors, such as your yearly income, the term length of your mortgage, and the mortgage interest rate.

Use our mortgage calculator to get an estimate of the investment mortgage you may be able to qualify for.

What can I use a home equity loan to pay for?

A Home Equity Loan can be used to cover almost any cost, some examples include: college tuition, vehicle purchases, buying a second property, consolidating higher interest rate loans, or home improvement projects.

What are the different interest rates on an Investment Property Loan?

Interest rates will differ based on the type of loan you have, the loan term length, and other factors. Typically, investment property mortgage rates are higher than primary residence rates.


What is the process for applying for insurance through MCU?

The process differs depending on the type of insurance product and which trusted insurance partner is offering it. If the product is offered through The Family Security Plan® visit this page for more information If the product is offered through TruStage® visit for more information.

Is MCU an insurance company?

No, MCU is not an insurance company. MCU partners with insurance companies to offer our members top-of-the-line insurance products and services.

Can my family members get the same discounts or free benefits as I do?

Yes and no. Generally, most of your benefits will be available to your dependents, but not to immediate family members. Your immediate family is eligible to join MCU and reap all the benefits that come from being a member, though—just send them this link to help them apply.

What discounts do I get with MCU membership?

The discounts differ depending on the type of insurance product and which trusted insurance partner is offering it. If the product is offered through The Family Security Plan® visit this page for more information If the product is offered through TruStage® visit for more information.

Who do I contact when I have a question about insurance?

You can contact the MCU member services team via our contact page here:, we will be happy to answer any questions you may have.

Can my spouse or children receive coverage?

The Family Plan can cover your spouse at 50% of the coverage level you choose for yourself. Dependent children will be covered for 20%. If you have no dependent children, your spouse will be covered for 60%. If you do not have a spouse, each of your dependent children will be insured for 25% of the coverage level you choose. Some features may vary by state.

Does my coverage ever end?

Your no-cost AD&D insurance lasts as long as you remain a member of MCU or until you decide to terminate membership. If you opt into additional coverage, you’ll maintain that coverage as long as payments are made on it.

Do I get a payout if I’m hospitalized?

Hospitalization benefits under AD&D are limited to those that are related to a covered accident under the policy. Similarly, there would not be any benefits paid out under TruStage® AD&D due to hospitalization related to an infectious disease. TruStage AD&D does not cover deaths due to natural causes, including viruses.

Do I have to buy auto insurance?

Almost every state requires you to buy auto insurance to protect against liability. And if you're taking out an auto loan to buy your vehicle, MCU requires you to buy an insurance policy to protect its value.

Can you get GAP protection after you purchase a car?

Typically, you can purchase GAP protection at any time as long as your vehicle meets the requirements.

Can I add GAP to a loan I’ve almost paid off?

If your vehicle meets the insurer’s requirements, and you are within any required time period to purchase GAP, you can add GAP to a loan regardless of how much you have left to pay off.

Can I get GAP for a car that I lease?

Yes! GAP is ideal for leased vehicles, and some lessors even require it.

How long does my GAP last?

If GAP was purchased and covered in the finance agreement, then the insurance will be in place until either it is cancelled by the insured or the agreement is terminated.

Is Guaranteed Asset Protection considered insurance?

Guaranteed Asset Protection (GAP) s a voluntary, non-insurance product designed to waive the remaining loan balance not covered by the borrower's primary insurance carrier settlement in the event of a total loss or unrecovered theft, subject to limitations and exclusions, including but not limited to loan-to-value (LTV) maximum, delinquent payments, late charges, refundable service warranty contracts and other insurance related charges.

Do Roadside Assistance personnel respond to accidents?

In the case of a serious accident, you should call 911 or other emergency responders. Roadside Assistance personnel can tow your car from the scene of an accident, or assist you if you get a flat tire or run out of gas before you can fill up your tank.

Is AD&D the same as Life Insurance?

AD&D is not the same as traditional life insurance, but it can be a good complement to life insurance, enhancing your overall protection—even adding coverage for specific injuries from accidents that don’t lead to death. For instance, TruStage® offers additional Cancer Heart Attack & Stroke Coverage to MCU members who activate coverage, but TruStage AD&D does not cover deaths due to natural causes.

Can the amount of coverage I get change?

Purchasing Additional Coverage includes the Increasing Benefit, which means the longer you have the coverage, the value of the Additional Coverage could increase each year by 5 percent for up to a total of 50 percent over 10 years, at no added cost to you. For example, a $100,000 Additional Coverage amount could be $150,000 after 10 years of being active.

From age 18 to 69, your coverage can’t decrease for any reason. At age 70, however, the full amount of coverage you have will decrease by 50 percent. Some features may vary by state.

Do I have to buy home or condo insurance?

Unlike auto insurance, it's possible to own a home without carrying insurance in some cases. However, if you have a mortgage on your home, it's likely your lender will require you to carry a homeowner's policy. Also, condominium boards typically require owners to purchase condo insurance whether they have a mortgage or not.

Even if you don't have a mortgage, it's a wise choice to protect the value of your home and its contents with a homeowner's insurance policy. This insurance will also help protect you from liability if someone is injured on your property.

Do I have to buy renters insurance?

And while apartment dwellers are not usually required to buy renters insurance, this relatively low-cost coverage can help reimburse you for loss or damage to personal possessions. It also offers protection from liability if someone were injured in your unit.

What happens when I call TruStage®?

When you call 1-855-483-2149 to claim your member discount, a licensed agent will answer your questions and give you friendly, helpful information — with no sales pressure.

When you're ready to get a quote, an agent will ask you some questions and walk you through your options. It's a good idea to have a copy of your current insurance policy handy to compare coverage and features. That way, it's easy to see how much you could save if you switch companies.

Does Mechanical Breakdown Protection replace car insurance?

No, Mechanical Breakdown Protection can cover mechanical issues that are typically not covered by regular car insurance.  MBP helps to protect you from unexpected repair costs, increasing the resale value, and providing peace of mind if a breakdown does occur.

Does Mechanical Breakdown Protection pay for repairs and maintenance?

While Mechanical Breakdown Protection does not cover routine maintenance, it will cover many types of repairs that your vehicle might need.

How many times can I use my Mechanical Breakdown Protection?

You can use your Mechanical Breakdown Protection as many times as you need, as long as you are within a set number of years and number of miles on your vehicle.

Does my family get to use Mechanical Breakdown Protection?

Yes! Since Mechanical Breakdown Protection covers the vehicle itself, anyone who drives that vehicle can use the policy to pay for covered repairs.

Can I add family members to my Term Life Insurance plan?

Yes! You can add insurance riders to your policy to cover eligible family members.

Will I lose coverage if I change jobs or leave work?

In insurance, “full portability” means you can keep your coverage at the same cost if you change jobs or retire, and MCU’s policies through TruStage® are fully portable. You and your family can expect continued coverage and consistent rates.

What will my beneficiaries receive?

If you were to pass during the term of your policy, your beneficiaries would receive the value of the policy (also called a death benefit or face value of the policy). This payment is usually sent in full to your beneficiaries once the insurance claim is completed.

Do my premiums increase if I lose my job or miss a payment?

No, your premiums will not be affected by job loss or missed payments. However, your policy may lapse if you miss too many payments.

Can I add family members to my Whole Life Insurance plan?

Yes! Your spouse, for as little as $3 a week, your grandchildren and great-grandchildren, for $2 a week per child, and even your parents are all eligible for Whole Life Insurance.

What do my beneficiaries get out of my Whole Life Insurance?

Anyone named in your policy can use funds to help cover outstanding medical bills, mortgage payments, credit card balances and other debts. Your beneficiary(ies) can use the funds for any purpose (making up for lost income, paying for college, etc.).


How can I make a loan payment?

Paying your loan with MCU is easy! There are many ways to do so, but the easiest is to make your loan payments via our NYMCU Mobile or Online Banking Apps. To learn more about setting up automatic transfers please visit

What type of documentation do I need for a Personal Loan?

To apply for a personal loan at MCU you will need a few things.

  1. You will need to be an existing MCU member.
  2. You will need to submit a loan application—online, at your local branch, or by calling us at 1-844-MCU-NYNY (1-844-628-6969).
  3. You will need to provide proof of identity such as: Birth certificate, certificate of citizenship, driver’s license, military ID, passport, Social Security card, or state-issued ID.
  4. You will need to provide employer information and may need to provide income verification, such as: pay stubs, tax returns, W-2s and 1099s, bank statements, or employer contact information.
  5. You may also be required to provide additional documentation, but if that time comes, we will be sure to let you know.

Do I need to be a member to apply for a loan?

Yes, membership is required to apply for any type of loan with MCU. Visit to learn more about membership and eligibility.

What is the closing process?

You can track the status of your loan application via our NYMCU Online and Mobile Banking platforms. When it is time to move forward with your loan, you will be contacted by a member of our staff to discuss the process. Once the documents are signed and the loan is processed, you will receive your funds.

How do I know if a type of loan is the right option for me?

Because everyone’s scenario is unique, please feel contact an MCU representative or a Lending Sales Specialist at 1-844-MCU-NYNY (1-844-628-6969). Our team is available to help you make an informed decision regarding which loan you should pursue.

What is the difference between a Personal Loan and Share Secured Loan?

The main difference is that a Share Secured Loan requires you to have funds on deposit that will be used as collateral for the loan at a lower interest rate compared to Personal Loans, which require no collateral.

How long does it take to get approved for a Personal Loan?

Personal Loan approvals can take as little as a few minutes. Once you apply, you can always check the status of your application online by visiting this link.

MCU Visa Credit Cards

What happens if I lose my MCU VISA® credit card?

Accidents happen! If your MCU VISA® credit card is lost or stolen, we suggest that you connect with us right away. Call us at (800) 449-7728 or log into your NYMCU Digital Banking to block or unblock your card, or to request a replacement.

Can I be alerted when a purchase is being made?

Yes! With VISA® Purchase Alerts, you will automatically be sent a text or email that verifies the purchase—stopping fraudulent activity in its tracks.

Is there a limit to how much cash back I can earn?

No! MCU True Rewards Cash Back VISA® holders can earn an unlimited amount of cash back. The best part? It never expires—and your rewards can be used toward the card’s balance or deposited into your MCU Checking Account.

Do I need to have established credit in order to get an MCU VISA® credit card?

A small amount of established credit will not prevent you from getting an MCU VISA® credit card, but high-standing and established credit will strengthen your application.

How does cash back work?

You’ll earn 1.5% on any eligible purchases you make with the MCU True Rewards Cash Back VISA®. For example, if you spend $100, you’ll instantly get $1.50 back in your account. These rewards add up over time!

NYMCU Digital Banking

Can I access my MCU account online?

Yes! We make it easy for you to have access and to monitor your funds, no matter if you visit an in-person branch.

Will I need to register for NYMCU Digital Banking?

Yes. Click on “Register” in the login box and follow the prompts to enroll in NYMCU Digital Banking.

How do I download the NYMCU Mobile App?

NYMCU Mobile Banking App

Android Users:


iPhone Users:



How do I access the digital banking platform if I forgot my username or password?

If you forgot your username or password, click on the “Forgot Username” or “Forgot Password” links in the login box and follow the instructions to complete the process to change your username or password. You’ll need your account number, social security number, birth date and email address to change your username. To change your password, you will need your username, social security number and email address.

If you have not logged in to digital banking in 12 months or more, your enrollment did not carry over to the new platform and you will need to register as a new user.

What browser and devices are supported?

We recommend that you use the latest version available for the browser for your desktop or laptop computer. Additionally, all iOS and Android devices are compatible with our online and mobile banking experience Your device should support the minimum requirements:

  • 128-bit encryption is supported
  • Cookies are supported
  • JavaScript is enabled

Desktop Browsers
In order to provide a better and more secure online banking experience to our users, the new digital banking experience will work with the following browsers:

  • Microsoft Edge: 2 most recent versions
  • Mozilla Firefox: 2 most recent versions
  • Google Chrome: 2 most recent versions
  • Safari: 2 most recent versions

Microsoft Internet Explorer is not compatible with the new digital banking experience.

Mobile Browsers
Online Banking is designed to work with touch-based operating systems commonly found on tablet devices. The following tablet-based operating systems are supported:

  • Chrome for Android
  • Mobile Safari for iOS devices

Browser Features
The following should be enabled in your devices:128-bit encryption

  • Cookies
  • JavaScript

Rates & Fees

What are your fee structures?

For information about fees, view the Schedule of Dividends, Service Charges and Fees.

How are APY and dividend rates determined?

While many factors influence APY rates, the biggest contributing factor is the Federal Reserve (A.K.A. "the Fed"). When the Fed raises or lowers interest rates it affects the entire US financial ecosystem. APYs on products like student loans, credit cards, mortgages and savings accounts are also impacted by such rate changes.

What are your current interest rates?

Rates are based on credit, and only our lowest rates are viewable before the application is submitted—which you can see by visiting Or, you can request the current rates when speaking to one of our friendly loan officers. But, the only way to know what rate you’ll qualify for is to apply.

What is the prime rate?

The term "prime rate" is used to refer to the interest rate financial institutions charge only their most creditworthy borrowers. "Prime rate" is also based on the federal funds overnight rate that the Federal Reserve sets; ultimately, that's the starting point for understanding what the current prime rate is.

Retirement Accounts

What’s the difference between a variable rate and a fixed rate?

A fixed-rate has the same interest for the duration of the loan, and variable rates have interest that changes with the fluctuating market.

Do I get penalized for taking money out of my IRA?

Yes, if withdrawn before the age of 59 and a half, there will be a gross income plus ten percent tax penalty.

Am I able to have two different IRA’s at one time?

Absolutely! There is no limit to the number of IRAs that you open. However, you cannot contribute more than the limitations on each account for the year.

Will my rate ever change the duration of my term?

If you open a fixed IRA, your rate will be fixed in place for the duration of the term and is not subject to ever change. A flexible-rate IRA has rates that change with the fluctuating market.

How do I apply to open an IRA?

To open an IRA through MCU, call us at 1-844-MCU-NYNY (1-844-628-6969) or visit your local branch. NYMCU Digital Banking does not allow members to open an IRA online at this time.

Is my IRA tax-deductible?

Your Traditional IRA may be tax-deductible but limited due to factors like spousal retirement plans and exceeding annual income levels.

At what point is the money in my account taxed?

It depends on what kind of IRA you choose to open. The money in a Traditional IRA is taxed upon withdrawal, while contributions to a Roth IRA are taxed upfront, allowing for tax-free withdrawals in retirement.

Can I take my money out of the account at any time?

You may deduct from your account at any time, but if you are under the age of 59 and a half you will be subject to penalty.

At what age can I withdraw money from my Flexible IRA?

You can withdraw money from your Flexible IRA, but if you do so before reaching the age of 59 and a half, you will incur a penalty.

Can I claim my IRA contributions on my taxes?

Yes, you may be able to claim a deduction on your individual federal income tax return for the amount you contributed to your IRA.

Student Banking

How do I know if I am eligible to open an MCU2 account?

The MCU2 Program is specifically designed for college students between the ages of 18-24 to establish healthy financial habits. If you fall into this category, you may be eligible for an MCU2 account.

If I am under 18, do I need a parent or guardian to sign up for me?

Yes, if you are under 18, you will need someone to sign up with you for a joint account. When you reach the legal age of 18, you can manage the account entirely on your own.

Do I need to open all these products? Or can I pick and choose?

The MCU2 Program offers products and services such as a checking and savings account, loans, MCU2 debit card, and more. However, it is up to you to decide which products fit you best—with no obligation to have them all.

I am a college student, but not in New York. Am I eligible?

Yes! Even if you don’t attend a college in New York, if you’re otherwise eligible for MCU membership, you can set up an MCU2 account and access it online at any time that works for you.

Youth Accounts

How do I apply to open a Coverdell ESA for my child?

There are currently two ways to open a Coverdell ESA. You can either call MCU at 1-844-MCU-NYNY (1-844-628-6969) to open an account, or visit your local branch. Coverdell ESAs are not available to open through NYMCU Digital Banking at this time.

What kind of documentation is needed in order to open a Youth Account for my child?

Provide one document from each section below to open a Youth Account (or activate within 15 days if account opened off-site):

Proof of Relationship:

  • Valid Birth Certificate
  • Social Security number
If needed:
  • Adoption Papers
  • Proof of Guardianship

Proof of Identification (for children over 13):

  • Valid School ID
  • Learner's Permit
  • Working Papers
  • U.S. Passport
  • Valid Non-Driver ID

Is there a minimum balance charge or monthly fee to maintain a Youth Account?

No! There are no minimum balance charges or monthly fees associated with maintaining a Youth Account.

Who else can contribute money to my child’s Coverdell ESA?

Any individual whose modified adjusted gross income is under the limit set for a given tax year can make contributions. Organizations, such as corporations and trusts can also contribute regardless of their adjusted gross income. Contributors must contribute by the due date of their tax return (not including extensions).

What are the IRS requirements?

General terms for any Coverdell ESA account are outlined by the IRS. Here are the main requirements to consider:

When the account is established, the designated beneficiary must be under the age of 18 or be a special needs beneficiary.

The account must be designated as a Coverdell ESA when it is created.

The document creating and governing the account must be in writing, and it must meet certain requirements.

There are other rules too, which you can find more on the IRS website.

Can I make multiple accounts?

Yes, there's no limit to the number of accounts that can be established for a particular beneficiary. However, the total contribution to all accounts on behalf of a beneficiary in any year can't exceed $2,000.

If you’re interested in saving beyond that limit, look into Savings account options MCU offers for short-term or long-term goals.

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