History & Philosophy

Our History

MAFCU was founded in 1968 by a handful of IBM employees who wanted a better break on financial services. In 1993 when IBM began downsizing, MAFCU began serving other sponsors. Then, in 1998, a historic moment for MAFCU occurred when we were approved for a community charter to serve a portion of Montgomery County. In 2003, our community charter was expanded to serve the entire county. Since our beginnings, we have acted as a community-credit union, giving back to the area in fundraising and other efforts to support local causes. It was only a natural progression for us to convert to a community-based credit union.

At MAFCU, each voice is heard since it is our job to see that we are offering the best quality services for our members. Our Volunteer Board of Directors and professional management team works hard to make sure MAFCU is "Better than a Bank." Following is our mission statement:

We are dedicated to helping our members achieve their financial goals.

Our Philosophy

Mid-Atlantic Federal Credit Union (MAFCU) is a not-for-profit financial cooperative that serves individuals who live, work, worship or attend school in Montgomery County, MD. A $5 deposit into a savings account is a "share" in the Credit Union, which means you become a member and owner of our credit union.

Since MAFCU is not-for-profit it is managed for the sole benefit of our members and offers many financial services at better rates and fees than other financial institutions. Profits are returned to members in the form of higher savings rates, lower loan rates, and lower fees.

Credit unions have two ongoing philosophies that we abide by:

• The first -- people, helping people -- goes back to the origin of credit unions, formed by groups of people with a common bond who wanted an alternative to traditional banking services. By pooling their money, they were able to achieve higher savings rates and lower loan rates.
• The second -- once a member, always a member -- has been a part of our credit union's charter since the beginning. Whether you move, retire or change employment, you remain a member of MAFCU, provided you maintain your $5 deposit in your Regular Savings account.