Question 1

What is Moog Employees Federal Credit Union?

Accepted Answer

Moog Employees Federal Credit Union is a federally chartered credit union headquartered in East Aurora, New York, serving employees and retirees of Moog Inc. and related organizations. With over $244 million in assets and approximately 8,635 members, the credit union provides comprehensive financial services to the aerospace and defense manufacturing community in the Buffalo-Niagara Falls metropolitan area.

The credit union maintains a strong financial position with a net worth ratio of 26.44%, significantly above regulatory requirements, and offers competitive rates on loans and deposit accounts.

Question 2

When was Moog Employees Federal Credit Union founded?

Accepted Answer

Moog Employees Federal Credit Union was founded in 1963 to serve the employees of Moog Inc., a global leader in precision motion control technology for aerospace, defense, and industrial applications. The credit union was established as a member-owned cooperative financial institution to provide accessible banking services to the growing workforce of Moog, which had been founded in 1951 by William C. Moog, Jr.

Over six decades, the credit union has evolved alongside Moog Inc.'s expansion, continuing to serve employees, retirees, and their families as the company has grown into one of Western New York's largest employers with over 3,500 employees in the region.

Question 3

Where is Moog Employees Federal Credit Union headquartered?

Accepted Answer

Moog Employees Federal Credit Union is headquartered at 7181 Seneca Street in East Aurora, New York, in Erie County. The location is situated within the Buffalo-Niagara Falls metropolitan statistical area in Western New York.

The credit union's headquarters is conveniently located near Moog Inc.'s main campus at 400 Jamison Road in East Aurora.

Question 4

Where does Moog Employees Federal Credit Union operate?

Accepted Answer

Moog Employees Federal Credit Union primarily serves the East Aurora area and the greater Buffalo-Niagara region in Western New York. Membership is restricted to individuals within the credit union's common bond, which includes current and former employees of Moog Inc. and related organizations, as well as their immediate family members.

The credit union operates with a multiple common bond structure focused primarily on the machinery and aerospace manufacturing sector. Members have access to services through the credit union's physical location and digital banking platforms.

Question 5

What services does Moog Employees Federal Credit Union offer?

Accepted Answer

Moog Employees Federal Credit Union offers a comprehensive range of financial products and services, including:

Deposit Accounts: Primary share accounts (savings), share draft accounts (checking), money market accounts, Christmas club accounts, and youth share accounts for members 17 years and younger.

Certificate Products: Share certificates (CDs) with various terms, Traditional IRA share certificates, Roth IRA share certificates, and Roth IRA conversion shares.

Loan Products: New and used vehicle loans with competitive rates, first mortgage loans (including fixed-rate mortgages over 15 years), real estate loans, and unsecured personal loans and lines of credit. The credit union has historically offered some of the lowest rates in New York, ranking third for unsecured credit card rates among all credit unions in the state.

Card Services: Visa debit cards with ATM access for 24-hour account access and point-of-sale purchases.

Digital Banking: Online banking platform for account management, balance inquiries, and transaction history, along with online bill pay services and electronic statements (eStatements). Members can access their accounts 24/7 through the credit union's digital banking system.

Additional Services: Check cashing, money orders, wire transfers, and direct deposit services.

Question 6

What makes Moog Employees Federal Credit Union unique?

Accepted Answer

Moog Employees Federal Credit Union stands out for its deep connection to one of the world's leading aerospace and defense manufacturers. The credit union serves a highly specialized membership base of engineers, technicians, machinists, and support staff working on cutting-edge projects including NASA's Artemis moon mission, the F-35 Joint Strike Fighter, and satellite propulsion systems.

The credit union maintains exceptional financial strength with a net worth ratio exceeding 26%, nearly double the national average, providing members with security and stability. This strong capitalization has earned the credit union a "Well Capitalized" designation from regulators.

With over 60 years of service to the Moog community, the credit union understands the unique financial needs of aerospace manufacturing professionals and offers highly competitive rates, particularly on vehicle loans and credit cards, where it consistently ranks among the best in New York State.

Question 7

What type of financial institution is Moog Employees Federal Credit Union?

Accepted Answer

Moog Employees Federal Credit Union is a federal credit union chartered and regulated by the National Credit Union Administration (NCUA). As a federal credit union, it operates under a federal charter (Charter Number 15669) and follows federal credit union regulations.

The credit union operates as a not-for-profit cooperative owned by its members. Membership eligibility is based on a multiple common bond structure, primarily serving employees and retirees of Moog Inc. and related machinery manufacturing organizations, as well as credit union employees and immediate family members of existing members.

As a member-owned institution, profits are returned to members through competitive dividend rates on deposits, lower loan rates, and reduced fees rather than being distributed to external shareholders. Each member has equal voting rights regardless of account balance, embodying the democratic principle of "one member, one vote."

Moog Employees Federal Credit Union

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About Moog Employees Federal Credit Union in the United States