Members First Credit Union Review 2023

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Members First Credit Union Review: Overall Rating

Members First Credit Union Pros and Cons

About Members First Credit Union

Members First Credit Union is a Hispanic American-led financial institution with four branches in Texas. Its branch locations are in Corpus Christi and Harlingen. Members First is also part of the Allpoint ATM network, which has over 55,000 free ATMs. 

You can join Members First if you, a family member, or a friend live or work in Nueces or Cameron County. To become a member, you'll need to open a savings account.

To get customer service support, you can call the credit union Monday to Friday from 9 a.m. to 5 p.m. CT or Saturday from 9 a.m. to 1 p.m CT. 

Its mobile app has 4.1 out of 5 stars in the Google Play Store and 4.7 out of 5 stars in the Apple Store. 

Members First is federally insured by the NCUA. You can have up to $250,000 secured in an individual account and $500,000 per depositor in joint bank accounts.

The Role of Hispanic American-led Financial Institutions

Hispanic American financial institutions have served disadvantaged communities since the 1960s. Hispanic American-led financial institutions are especially impactful for Hispanic American communities because these institutions can connect through language and culture.

At Members First Credit Union, you can receive customer support in English and Spanish. Members First also has financial education resources for children.

Is Members First Credit Union Trustworthy?

Members First Credit Union hasn't been involved in any recent public scandals.

It also has an A+ rating from the Better Business Bureau. We show BBB ratings to help indicate how a credit union addresses customer service issues. A good BBB rating doesn't guarantee that your relationship with a credit union will be perfect, though. 

You'll want to talk to friends or family if they are members of the credit union. You can also read online customer reviews.

Members First Credit Union Account Reviews

Members First Credit Union Regular Savings Account

The Members First Credit Union Regular Share Savings Account is a solid free savings account. It has a low minimum opening deposit and Members First Credit Union Regular Share Savings Account - Fees Display. The only thing you'll want to keep tabs on is your account balance — you'll need at least $100 in your account daily to earn interest.

Members First Credit Union Checking Account

The Members First Credit Union Regular Checking Account - Product Name Only is a free checking account with a low minimum opening deposit. Even though Members First is a local credit union, you'll have access to over 55,000 free ATMs since it's part of the Allpoint ATM network.

Members First Credit Union Share Certificate

You may like Members First Credit Union's Members First Credit Union Share Certificate if you're searching for CD terms under 3 years. 

While the interest rate is fair compared to other brick-and-mortar institutions, you'll want to glimpse through our best CD rates guide if competitive interest rates are a priority for you.

Members First Credit Union Money Market Account

The Members First Credit Union Money Market Account is a worthwhile option if you have at least Members First Credit Union Money Market Account to open an account. This account also has a tiered interest rate system, which means you'll earn a higher money market account rate if you maintain a higher account balance. To obtain the highest APY, you must keep $100,000 or more in the account.

How Members First Credit Union Compares

Members First Credit Union vs. CoastLife Community Credit Union 

You have to be eligible to become a member to open a bank account at a credit union.

Members First Credit Union lets you join if you, a family member, or a friend live or work in Nueces or Cameron County. To join CoastLife Credit Union, you need to live or work in Aransas, Duval, Jim Wells, Kleberg, Nueces, or San Patricio County. You can also become a member of CoastLife if you or a family member work for a qualifying business or school.

If you're eligible to join both credit unions, you'll want to determine which institution will provide the best experience and products for your unique goals. 

For example, you might lean more toward CoastLife Community Credit Union Coast if you like an institution with a larger branch network. Life Community Credit Union has eight locations in Texas, while Members First Credit Union has only four branches.

If you're considering opening a money market account, Members First Credit Union is the default winner because CoastLife Community Credit Union doesn't have one.

CoastLife Community Credit Union Review

Members First Credit Union vs. Gulf Coast Federal Credit Union

Deciding between Members First Credit Union and Gulf Coast Federal Credit Union may ultimately rest on where you live.

You can join Gulf Coast Federal Credit Union if you live, work, worship, or go to school in Nueces, San Patricio, or Jim Well Counties in Texas. You may also be eligible for membership if you have an immediate family member who is a member. Members First Credit Union lets you join if you, a family member, or a friend live or work in Nueces or Cameron County. 

Also, consider which types of accounts you'd like to open.

Members First is a more appealing option if you're looking for a money market account. The Gulf Coast Federal Credit Union Money Market Account requires at least $10,000 to open. 

Gulf Coast Federal Credit Union might be a good option if you're interested in Kasasa savings or checking accounts. Kasasa is a financial company that works with small banks and credit unions to offer bank accounts with competitive perks. Gulf Coast has a savings account that pays more than the national average, a high-yield checking account, and a cash-back checking account. You'll need to meet certain requirements each month to obtain the perks, though. 

Gulf Coast Federal Credit Union Review

Why You Should Trust Us: How We Reviewed Members First Credit Union

At Personal Finance Insider, we rate savings, checking, CD, and money market accounts using our banking methodology and CD methodology.

Each account receives a rating between 0 and 5. We evaluate a bank's ethics, customer service, and mobile app for all accounts. We also consider different features for specific types of bank accounts. For example, we look at overdraft fees for checking accounts and early withdrawal penalties for CDs.