Mayo Employees Federal Credit Union was formed in 1933 by a group of Mayo Clinic business office employees. Their purpose was twofold: (1) to pool their money and loan it to other employees and, (2) to provide member service and education. They take pride in continuing that commitment today. Since its formation, Mayo Employees Federal Credit Union has grown to over 49,500 member-owners, with assets in excess of $635 million. Mayo Employees Federal Credit Union is dedicated to helping members achieve their financial goals. Since they are a member-owned, not-for-profit financial cooperative, earnings are distributed back to members in the form of higher dividends on savings, lower loan rates, expanding products and services, and more.