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Mississippi Federal Credit Union has been committed to helping members for the past 66 years to achieve their financial goals, both short and long-term. Today, the Board of Directors and leadership team are excited to announce plans to merge with Mutual Federal Credit Union, another credit union serving communities across central and north Mississippi.

The merger represents a strategic partnership between two financially healthy Mississippi credit unions that are dedicated to the well-being of members, employees, and the communities they serve. Additionally, this collaborative merger will allow the combined credit union to offer:

  • The unified credit union will have a team of 135 employees serving 45,000 members
  • 13 Branch locations and an expanded ATM/ITM network
  • Best-in-class products and services
  • Continued investment in digital technologies and branches
  • Increased commitment to the communities we serve

We have received approval from the NCUA to proceed with the merger and the next step is to obtain a vote from our members. As the process continues, we will update you about important dates and next steps. If you have concerns that have not been addressed in the frequently asked questions, please click the link below to complete the form. A MSFCUrepresentative will respond to your inquiry.



  • This exciting announcement means that Mississippi Federal Credit Union is moving forward with the proposed merger with Mutual Federal Credit Union. Nothing related to how you use your account with us will change right away. You will continue to use your account and our other services in the same manner you do now.

  • Absolutely. The Boards of both credit unions approved the proposed merger unanimously and are very excited about this merger with the growth and benefits it brings to our membership, employees, and communities.

  • Becoming a larger credit union would provide opportunities to leverage resources and position us for continued growth. The result is being able to provide more benefits to members in the form of more product and service access, and new and robust technologies and services while continuing Mississippi Federal Credit Union’s ongoing community presence.

  • Both credit unions share a dedication to members, employees, and their respective communities and share a common vision for the future of the combined credit union.

  • Chartered on April 10th, 1931, Mutual FCU is Mississippi’s oldest credit union. Beginning as a credit union for federal employees in Vicksburg, Mutual expanded its charter in 2006 to serve several counties across Mississippi then again in 2023 as Mutual transitioned to a federal charter it expanded again serving 73 counties (and parishes) across Mississippi, Alabama, Louisiana, and Arkansas. Mutual FCU currently has branches in Vicksburg, Yazoo City, Raymond, and Columbus serving 23,000 members spread among 48 states.

  • Yes. The proposed merger requires the approval of a majority of the members of Mississippi Federal Credit Union who vote on the proposal.

  • The strategic merger between Mississippi FCU and Mutual FCU would provide the opportunity to achieve more positive member impact and value such as:
    • Expanded Member Access
    A larger branch footprint would provide members with more locations to conduct business with us, which in turn provides more member impact. But bigger than that, through this partnership our field of membership would expand, and we would be able to serve more people and communities throughout Mississippi.
    • Products/Services
    As a larger organization, we would achieve greater economies of scale which would allow us to offer an even more robust product and service line, reduce costs, and return more value to members in the form of products, services, and community involvement.
    • Increased Responsiveness to Evolving Member Needs
    Combining our strengths would allow us to continue to enhance our products, services, and digital banking offerings.
    • Enhanced Electronic Banking
    This partnership would allow us to constantly assess and improve our technology solutions and make sure we are providing “the best in class” digital banking solutions now and in the future.
    • Knowledgeable/Friendly Employees
    The same friendly staff at our branches would continue to be available to serve members.

  • The combined credit union’s field of membership would include the existing fields of membership of Mississippi FCU and Mutual FCU, allowing us to serve even more members. All Mississippi FCU members would automatically become members of the combined credit union. In some cases, members may have a relationship at both credit unions and in this case, we will work with the members individually to combine their accounts in a manner that will ease the transition and be beneficial.

  • The rates on fixed-rate loans and certificates would remain the same until the end of their existing terms. Other products would adjust as normal due to market conditions.

  • Yes. Rest assured that your savings with the combined credit union will continue to be federally insured by the National Credit Union Share Insurance Fund (NCUSIF). Information regarding NCUA insurance, and a calculator to help determine your coverage is available at

  • There are no plans for any branch closures at this time. This merger would provide the opportunity to expand our branch locations and enhance our digital member experience. Mutual FCU branches would not be available to Mississippi FCU members immediately. As the merger progresses, we will announce when these locations will be available. Members can take advantage of the shared branching network as they have in the past until the final merger date is announced.

  • Michael Mathews, President/CEO of Mutual Federal Credit Union would be the President/CEO of the combined organization. Brian Long, President/CEO of Mississippi Federal Credit Union would be the Executive Vice President in the combined organization.

  • Both credit union Boards currently believe the merger approval will be complete sometime around October 1, 2024. The process of fully integrating our systems would extend into late 2025. Mississippi Federal Credit Union will retain its name through these processes.