MEFA

Report Card
D
Overall Grade
D
Student Loans Grade
MEFA is rated overall in the bottom 5 percentile (out of 100) based on 24 customer complaints.

Statistics

Complaints Currently In-Progress
Complaints per $100K of Deposits
Complaints Resolved in a Timely Manner87.5%
Resolutions Disputed by Customer25%
Average Time Until ResolutionUnknown

Financial Report

Owner CorporationNot Listed
EstablishedNot Listed
FDIC InsuredNot Insured
FDIC Certificate #
Number of BranchesUnknown
Total AssetsUnknown
Total DepositsUnknown
Total EquityUnknown
Quartarly Net IncomeUnknown

Contact Information

Corporate Headquarters
Not Listed
Website
Not Listed
Data Summary
MEFA logo

Grade Summary

Overall, MEFA received a grade of "D" based on how quickly the company responded to complaints, how often customers disputed their final resolution, and how many complaints were recieved per customer.

Grades are also broken down by the financial products offered be each institution. MEFA is rated "D" in Student Loans. Click on any of the financial products to see how MEFA compares.

Overview

MEFA has received 24 consumer complaints since March, 2012 – more than 78% of other banks.

Of those complaints, 87.5% of complaints were resolved in a timely manner. The CFPB allows 60 days to resolve complaints before considering them 'untimely.' MEFA meets the 60-day response deadline less frequently than 83.5% of other banks.

After companies respond to complaints, customers may dispute the response indicating that the issue was not resolved adequately. 25% of customers dispute MEFA's response to complaints — worse than 79.3% of other companies.

Most of MEFA's customers complain about student loans with the primary issue being "dealing with my lender or servicer."

Complaints by Product
Complaints by State
Complaints Against MEFA
#Financial ProductSub-ProductComplaint IssueComplaint Count
1Student loanNon-federal student loanDealing with my lender or servicer11
2Student loanNon-federal student loanCan't repay my loan9
3Student loanNon-federal student loanRepaying your loan5
4Debt collectionFederal student loanCommunication tactics2
5Student loanNon-federal student loanProblems when you are unable to pay2
Responses From MEFA
#Company ResponseResponse CountTimely Response CountDisputed Count
1Closed with explanation2926 (89.7%)7 (24.1%)
Complaints over the Past Year