About Us
It all started in the summer of 1950 - a small group of employees who worked for the Montgomery County Public School system (MCPS)got together one day and agreed that there must be a way to take advantage of the better things in life. The banks around at the time were not interested in satisfying the financial needs of the consumer - unless you had a lot of money. In fact, if you needed to borrow a few dollars for home repairs or medical bills, there were very few places to turn.
Credit Unions, which were born out of the cooperative movement at the end of the 19th century, were beginning to make significant inroads. It didn't take long for the group of educators to decide that a Credit Union was the answer. Thus, Montgomery County Teachers Federal Credit Union was created!
During the first year, MCT had only a handful of members and $1,500 in assets. Now, fifty-seven incredible years later, we are serving the needs of over 60,000 individuals and proudly have over $400 million in assets.
Savings accounts and small personal loans have grown to include a full array of financial services. In the beginning, volunteer board of directors, who were elected be the members, played a significant role in the day-to-day operations of the Credit Union. Today, volunteers remain important - and are joined by a trained staff of professionals to make certain the needs of the members are satisfied.
Through it all, though, our strategy of helping each and every member reach financial success has remained steadfast.
To find out if you are eligible to join MCT, click here.
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