A memory fastening device includes a fastener head that is positioned along the first end of an elongated body having a tapered second end, and a plurality of serrations. The head includes an opening having a shape that is complementary to the shape of the main body. A ratchet mechanism is positioned within the head and functions to engage the serrations to form a closed loop. The main body includes a layered construction having a core layer and an outer layer. The core layer is constructed from a piece of malleable metal having shape memory for maintaining a shape to which the device is manipulated, and the outer layer is constructed from an electrically non-conductive material that encapsulates the metallic memory core.