This study investigates the influences of electric and magnetic fields applied both separately and superimposed on the dielectric and elastic properties of membranes (Ms) composed of cotton fabric and carbonyl iron microparticles (CI). To this end, three membranes were fabricated: one without CI microparticles and the remaining two with various proportions of CI microparticles. Additionally, scanning electron microscopy and energy emission X-ray spectroscopy were used to perform morphological and elemental analysis of the cotton fabric sample, CI microparticles, and the prepared Ms. Subsequently, flat capacitors (FCs) were manufactured using these Ms, encapsulated in a silicone rubber sheath. The FCs were introduced in static electric and magnetic fields superimposed over a sinusoidal electric field of frequency f = 1 kHz, and the electric capacity Cpand the tangent of dielectric loss angle Dpof the FCs were measured, depending on the E values of the static electric and magnetic fields superimposed over the medium-frequency electrical field. The values of the static electric field intensity and magnetic flux density were varied in steps of 4 kV/m within an interval 0 ≤ E (kV/m) ≤ 48 and in steps of 100 mT within an interval 0 ≤ B (mT) ≤ 300, respectively. Based on the obtained data, the components of the complex dielectric permittivity, those of the deformations, and the coefficients of elasticity of the Ms were determined to characterize the dependence of these values on the composition of Ms under the applied fields. Furthermore, the observed physical mechanisms were described based on the elements of physics of linear dielectrics and small deformation theory. Ultimately, the development of these materials can aid the design of various electrical devices for diverse applications such as sensors with electric field transducer, magnetic field, vibrations, and mechanical deformations.