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Overview / Commentary
815 Main St
Fitchburg, MA 01420

Workers' Credit Union is headquartered in Fitchburg and is the 7th largest credit union in the state of Massachusetts. It is also the 204th largest credit union in the nation. It was established in 1914 and as of March of 2014, it had grown to 193 employees and 75,143 members. Workers' Credit Union's savings rates are 44% higher than the national average, and it boasts a A+ health rating.

Field of Membership Restrictions

Membership is open to anyone who resides in Massachusetts and Southern New Hampshire, or works for a company that is based in Massachusetts. You can begin your membership by simply opening a member account with as little as $25 or a high rate cuSave Account with as little as $500. Workers' also accepts membership for businesses. Workers' Credit Union can open accounts for the following business types in Massachusetts: sole proprietors, corporations, partnerships and limited liability companies. - 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 Workers' Credit Union had $5.56 million in non-current loans and owned real-estate with $137.68 million in equity and loan loss allowances on hand to cover it. This gives Workers' Credit Union a Texas Ratio of 4.04% 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 Workers' Credit Union experienced no significant changes from 4.48% as of March 31, 2013 to 4.04% as of March 31, 2014, resulting in a positive change of 9.79%.This indicates that the balance sheet and financial strength for Workers' Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Workers' Credit Union has increased its total deposits by $46.33 million, resulting in 6.71% 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 Workers' Credit Union has shown is excellent.



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. Workers' Credit Union has $1.05 billion in assets with $137.68 million in equity, resulting in a capitalization level of 13.08%, which is excellent.

Institution Statistics

NCUA #66479
Year Chartered1914
Primary Regulator
Assets and Liabilities
Assets$1.05 billion
Loans$756.12 million
Deposits$736.67 million
Equity Capital$131.86 million
Loan Loss Allowance$5.83 million
Unbacked Noncurrent Loans$4.83 million
Real Estate Owned$729,000
Historic Data - March 2013
Assets$939.93 million
Equity Capital$123.75 million
Loan Loss Allowance$5.52 million
Unbacked Noncurrent Loans$4.83 million
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets1.37%
Return on Equity10.96%
Interest Income$10.62 million

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Workers' Credit Union Savings Account Rates

0.75%$50-cuSave - Online Savings
0.75%$25-Student Savings
0.60%$50k-Business Premium Savings
0.40%$50k-Big Picture Super Savings
0.20%$50-Business Savings (statement/passbook)
0.10%$50-Share Savings (statement/passbook)
0.10%$50-IRA Savings Account
0.10%--Club Account
0.10%$50-Roth IRA Savings Account
0.10%$50-CESA Savings Account

Workers' Credit Union Money Market Rates

0.30%$50k-Personal Money Market Account (statement)
0.30%$50k-Business Money Market Account (statement)

Workers' Credit Union Checking Account Rates

1.75%-$25kXtreme Checking - Qualifying
0.20%$7,500-Business Basic Plus
0.10%$25-Big Picture Checking
0.10%$25-Interest Checking
0.10%--Xtreme Checking - Non Qualifying

Workers' Credit Union CD Rates

2.25%$500-72 Month Member Relationship CD
1.90%$25k-60 Month Member Relationship CD
1.75%$25k-48 Month Member Relationship CD
1.75%$500-72 Month Non-Relationship CD
1.50%$25k-60 Month Non-Relationship CD
1.36%$25k-36 Month Member Relationship CD
1.30%$25k-48 Month Non-Relationship CD
1.10%$25k-24 Month Member Relationship CD
1.05%$500-24 Month Online CD
1.01%$25k-18 Month Member Relationship CD
1.00%$25k-36 Month Non-Relationship CD
0.95%$25k-12 Month Member Relationship CD
0.95%$500-12 Month Online CD
0.90%$25k-24 Month Non-Relationship CD
0.75%$25k-18 Month Non-Relationship CD
0.70%$25k-12 Month Non-Relationship CD
0.70%$500-6 Month Business CD Special
0.60%$25k-6 Month Member Relationship CD
0.60%$500-6 Month Online CD
0.50%$25k-3 Month Member Relationship CD
0.50%$25k-6 Month Non-Relationship CD
0.35%$25k-3 Month Non-Relationship CD

Workers' Credit Union IRA Rates

2.25%$1k-72 Month Member Relationship IRA
1.90%$25k-60 Month Member Relationship IRA
1.75%$25k-48 Month Member Relationship IRA
1.75%$1k-72 Month Non-Relationship IRA
1.50%$25k-60 Month Non-Relationship IRA
1.36%$25k-36 Month Member Relationship IRA
1.30%$25k-48 Month Non-Relationship IRA
1.10%$25k-24 Month Member Relationship IRA
1.01%$25k-18 Month Member Relationship IRA
1.00%$25k-36 Month Non-Relationship IRA
0.95%$25k-12 Month Member Relationship IRA
0.90%$25k-24 Month Non-Relationship IRA
0.75%$25k-18 Month Non-Relationship IRA
0.70%$25k-12 Month Non-Relationship IRA
0.60%$25k-6 Month Member Relationship IRA
0.50%$25k-6 Month Non-Relationship IRA

Workers' Credit Union has 15 locations. Click to view all Workers' Credit Union locations.