Matadors Community CU
Matadors Community Credit Union (MCCU) was founded in 1963 by a group of Cal State Northridge professors to fill a financial need for the faculty and staff of the university. Over the years, MCCU has expanded its membership base to include individuals affiliated with Cal State Northridge University (students, alumni, athletic boosters, faculty, and staff) or anyone who lives, works or worships in the San Fernando, Simi or Santa Clarita Valleys. MCCU currently has over $120 million in assets and serves almost 14,000 members.
MCCU offers a wide array of financial products and services, including Free Checking, Savings, Certificates and IRAs, and Internet Banking, Bill Payer, and Mobile Banking. We offer several low-rate loan products as well – home loans, auto loans, credit cards and more.
The credit union never took part in any sub-prime lending, nor have we ever been involved in any type of risky lending practices. While we want to help all members, we are very prudent and stringent in our lending procedures and policies.
MCCU is very well capitalized. Our net worth ratio as of July 31, 2012 is at 9.96%. Regulators consider a credit union well capitalized at 7%. Being well-capitalized means the credit union has solid financial strength.
The National Credit Union Administration (NCUA) is the federal agency that insures savings in federal and most state-chartered credit unions across the country through the National Credit Union Share Insurance Fund (NCUSIF), a federal fund backed by the full faith and credit of the United States government. All member deposits are federally insured by the NCUA and backed by the U.S. Government up to $250,000 and IRA accounts are insured separately up to $250,000.
MCCU currently has two branches – Chatsworth and Northridge. We consistently earn high ratings from Bauer Financial, an agency that regulates banks’ and credit unions’ financial safety and soundness. The credit union was also awarded Best Bank/Credit Union for four year, most recently in 2012 – by the readers of the Los Angeles Daily News.