Founded in 1972, the Metropolitan Church of God Credit Union is a service organization of people who pool their money (i.e., savings) and make low interest loans to each other from the accumulated funds. Dividends are paid on member savings at rates periodically declared by the credit union’s board of directors. The credit union is operated under rules and regulations established by the National Credit Union Administration, an Agency of the United States Government, and is subject to examination by Federal Examiners at least once a year. 


                            Financial Instruments

The Metropolitan Church of God Credit Union has three major financial services to offer its members: loans, savings accounts, and, Certificates of Deposit (CDs).

• Loans
  Loans are made to Credit Union members and/or their family members on a case-by-case basis. Members are encouraged to stop by the Credit Union office to apply for a loan. A Credit Union staff member will assist each loan applicant in completing a loan application and guiding the loan applicant through the loan application process. Loans are available up to a maximum of $5,000.00. Each loan applicant’s eligibility will be reviewed by the Credit Union under uniform credit guidelines. Specific loan interest rates can be obtained in the Credit Union office.
  
  
• Savings
  All Credit Union members are distributed dividends to their savings accounts on a regular basis. As a result, each Credit Union member is encouraged to regularly add to their savings account in an effort to increase their total assets. Recent dividend rates can be obtained in the Credit Union office.
  
  
• Certificates of Deposit

  Nationally competitive CD rates are available to all Credit Union members. As of April 2006, the current CD rates are as follows
  5-year CD: 5.00%
  2-year CD: 4.25%
  1-year CD: 3.75%
  6-month CD: 3.25%
  Money Market account: 2.5%
  Certificates of Deposits (CDs) offer higher yields to Credit Union members than do regular savings accounts.
  
                                                              Membership

Any Metropolitan Church of God member is eligible to join. Visit the Credit Union office (second floor) on Sundays from 11:45 a.m. — 12:15 p.m. Any staff member can open your new account.