Bauer Financial gives MedFed its highest 5-Star Superior Rating for 103 consecutive quarters
Posted 2 years ago
Bauer Financial, the nation’s leading independent bank and credit union rating and research firm, has again recognized Medina County Federal Credit Union as one of the strongest financial institutions in the nation with a Five-Star Superior Rating.
Bauer has recommended MedFed for 103 consecutive quarters. Less than 8% of the nation’s banks can claim the distinction of this level of repeated 'Recommended' status.
To earn Bauer’s Five-Star Superior Rating, MedFed must excel in areas of Capital Adequacy, Return on Assets, Return on Equity, Delinquent Loan Levels, Profitability and other criteria of stability and success.
"We are proud of our continued Superior ratings, especially because they recognize the value that MedFed delivers to our member/owners in Medina County," said President/CEO Pete Grimm. "As a cooperative community credit union, our 'profit' is returned to our members in the form of better rates and improved services. Our staff and board of directors work very hard to provide a secure place in Medina County for loans, savings and financial services."
Only 58 percent of credit unions in Northeast Ohio are recommended, according to Bauer Financial.
Among the 109 credit unions in Northeast Ohio that were evaluated, 36 percent have the top five-star rating for financial strength, and 22 have a four-star rating. Bauer considers those to be "superior" and "excellent," and recommends them to consumers.
It should be noted that Bauer didn't rate 32 percent of the credit unions in Northeast Ohio, either because they have less than $1.5 million in assets or are privately insured, instead of being insured by the National Credit Union Administration.
"One of the great benefits of being a credit union member is that you are also an owner," Paul Mercer, president of the Ohio Credit Union League, told The Cleveland Plain Dealer. "Credit unions are undoubtedly safe and sound. And, the beauty of the member-owner model is that if a member is curious about the financial well-being, they are empowered to inquire with the CEO or a volunteer board member at any time."
BauerFinancial, of Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution pays BauerFinancial to rate it, nor can any choose to be excluded. Consumers may obtain star-ratings by visiting www.bauerfinancial.com.
Our Medina Branch has moved one mile East to 3303 Medina Rd.
Posted 1 year ago
We have a new branch for the new year! Our Medina Branch has moved one mile east to 3303 Medina Rd. (across the street from the ALDI grocery near I-71).
Our same friendly staff is ready to serve you in our new office and at the drive-thru. At this time, you can use the ATM at our previous location. Please stop in to see our new branch and say 'Hello'!
Join us at our new location in the new year!
Equifax data breach affects 143 million people. Here is how to know if you are affected.
Posted 9 months ago
Equifax, one of three nationwide credit-reporting companies, said Thursday that 143 million people could be affected by a recent data breach.
In the breach, cybercriminals stole information including names, Social Security numbers, birth dates, addresses, and the numbers of some driver's licenses. Additionally, credit card numbers for about 209,000 people were exposed, as was "personal identifying information" on roughly 182,000 customers involved in credit report disputes.
Equifax gets its data from credit card companies, banks, retailers, and lenders.
Equifax will not be contacting everyone who was affected, but will send direct mail notices to those whose credit card numbers or dispute records were accessed.
The company established a website, www.equifaxsecurity2017.com, where you can check to see if your personal information may have been stolen. Consumers can also call 866-447-7559 for more information.
Experian is also offering free credit monitoring to all U.S. consumers for a year.
Credit Unions earn highest marks ever received by an industry in new Consumer Reports Buying Guide
Posted 2 years ago
Medina County Federal Credit Union is proud to note that America's credit unions received among the highest marks for service that Consumer Reports has ever given to an industry in the magazine’s recent financial services series “Bank & Credit Union Buying Guide.”
The magazine recommends consumers use their local credit unions for auto loans, checking, savings and many other financial services.
“Credit unions are among the highest-rated services we’ve ever evaluated, with 93% of their customers highly satisfied, on average, vs. 69% for the four biggest national banks,” said Jeff Blyskal of Consumer Reports. “That satisfaction is driven by good customer service, not surprising when you consider that credit unions are owned and managed by their members."
Consumer Reports was clear in recommending credit unions for your next auto loan: "Choose a credit union for a car loan, because those institutions often offer the lowest rates--another good reason to join one. Get prequalified before you shop."
MedFed helps you get into your dream car (or truck)
Posted 2 years ago
These two Truck Guys were so happy with the auto loans they got at MedFed, they wanted to show off their new trucks in front of our office. Our loan officer worked with them to finance their new trucks at a low rate and with monthly payments that fit their budgets. We are always happy to help members make their dreams come true!
If you have a dream car (or truck) in mind, visit MedFed or apply online and let us help you get behind the wheel! And if you are as happy as these guys, share a photo with us!
Congratulations to the winner of MedFed's Auto Loan Payoff
Posted 3 years ago
Congratulations to Kevin P. Hughes, the winner of Medina County Federal Credit Union's Auto Loan Payoff! Kevin has received a $20,000 payment on his vehicle loan.
Hundreds of MedFed members entered the Loan Payoff Promotion by transferring their auto loans from another lender to MedFed. In addition to better loan rates and local personal service, each member who transferred his or her loan was automatically entered to win a payoff up to a maximum $20,000.
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