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Overview / Commentary
147 W 4th St
South Boston, MA 02127

Mass Bay Credit Union is headquartered in South Boston and is the 35th largest credit union in the state of Massachusetts. It is also the 932nd largest credit union in the nation. It was established in 1936 and as of March of 2014, it had grown to 55 employees and 17,039 members. Mass Bay Credit Union has a A health rating.

Field of Membership Restrictions

Membership at Mass Bay Credit Union is open to: -- Anyone who lives or works within Norfolk County, Suffolk County, Abington, Everett, Hanover, Hingham, Lynn, Malden, Marshfield, Medford, Melrose, Norwell, Peabody, Rockland, Saugus, Scituate, Somerville, Stoneham and Whitman. -- Employees of entities affiliated with MassDOT -- Employees of entities affiliated with the MBTA -- Employees of entities who are members of labor unions affiliated with MassDOT and/or the MBTA. - See Details

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Data for Q1 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Mass Bay Credit Union had $1.72 million in non-current loans and owned real-estate with $21.48 million in equity and loan loss allowances on hand to cover it. This gives Mass Bay Credit Union a Texas Ratio of 7.99% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Mass Bay Credit Union decreased dramatically from 13.23% as of March 31, 2013 to 7.99% as of March 31, 2014, resulting in a positive change of 39.61%.This indicates that the balance sheet and financial strength for Mass Bay Credit Union has improved dramatically in recent periods.

Deposit Growth


In the past year, Mass Bay Credit Union has increased its total deposits by $666,000, resulting in 0.38% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Mass Bay Credit Union has shown is above average.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Mass Bay Credit Union has $201.1 million in assets with $21.48 million in equity, resulting in a capitalization level of 10.68%, which is above average.

Institution Statistics

NCUA #68137
Year Chartered1936
Primary Regulator
Assets and Liabilities
Assets$201.10 million
Loans$140.64 million
Deposits$176.42 million
Equity Capital$20.82 million
Loan Loss Allowance$658,000
Unbacked Noncurrent Loans$1.29 million
Real Estate Owned$431,000
Historic Data - March 2013
Assets$201.51 million
Equity Capital$20.76 million
Loan Loss Allowance$605,000
Unbacked Noncurrent Loans$1.29 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.05%
Return on Assets0.13%
Return on Equity1.23%
Interest Income$1.84 million

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Mass Bay Credit Union Savings Account Rates

0.15%$10k-Main Share
0.15%$10k-IRA Share Account
0.15%$10k-Roth IRA Share Account
0.15%$10k-CESA Share Account
0.05%--Vacation Club
0.05%--Holiday Club

Mass Bay Credit Union Money Market Rates

0.35%$20k-Money Market Account

Mass Bay Credit Union Checking Account Rates

0.05%--NOW Checking

Mass Bay Credit Union CD Rates

1.51%$500-60 Month CD
1.30%$500-48 Month CD
0.95%$500-36 Month CD
0.80%$500-24 Month CD
0.75%$500-18 Month CD
0.70%$500-14 Month CD
0.50%$500-12 Month CD
0.30%$500-6 Month CD
0.20%$500-3 Month CD

Mass Bay Credit Union IRA Rates

1.51%$500-60 Month IRA
1.30%$500-48 Month IRA
0.95%$500-36 Month IRA
0.80%$500-24 Month IRA
0.75%$500-18 Month IRA
0.70%$500-14 Month IRA
0.50%$500-12 Month IRA
0.30%$500-6 Month IRA
0.20%$500-3 Month IRA

Mass Bay Credit Union Locations
Branch Office1181 Hancock StQuincy, MA 02169
Branch Office183 Main StEverett, MA 02149
Branch Office147 W 4th StSouth Boston, MA 02127
Branch Office85 Revere Beach PkwyMedford, MA 02155