Andover Federal Credit Union

Overview / Commentary
19C Lupine Rd
Andover, MA 01810-3909

Andover Federal Credit Union is headquartered in Andover and is the 80th largest credit union in the state of Massachusetts. It is also the 2,816th largest credit union in the nation. It was established in 1964 and as of December of 2019, it had grown to 6 employees and 2,494 members at 2 locations. Andover Federal Credit Union's money market rates are 14% higher than the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership is open to employees of the town of Andover, Phillips Academy, Greater Lawrence Collaborative, Andover Housing Authority, Shed in Andover, Elm St. Auto, Doherty Insurance in Andover, OPTECH, Greater Lawrence Technical High School, United States Postal Service in Andover, Gould Landscaping, Andover Insurance Agency in Andover, J.W. Watson in Andover, Vale Landscaping in Andover, or Salon 22 in Andover.
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Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Andover Federal Credit Union has a low asset base.

Health Grade Components

NCUA #16067
Year Chartered1964
Primary Regulator
Profit Margin
Return on Assets - YTD0.54%
Return on Equity - YTD4.67%
Annual Interest Income$940.00K
Assets and Liabilities
AssetsQ4 2019vs Q4 2018$31.6MM$31.3MM
LoansQ4 2019vs Q4 2018$9.1MM$9.0MM
DepositsQ4 2019vs Q4 2018$27.9MM$27.8MM
Equity CapitalQ4 2019vs Q4 2018$3.7MM$3.5MM
Loan Loss AllowanceQ4 2019vs Q4 2018$191.00K$156.00K
Unbacked Noncurrent LoansQ4 2019vs Q4 2018$15.00K$83.00K
Real Estate OwnedQ4 2019vs Q4 2018$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Andover Federal Credit Union Savings Account Rates

0.50%$25-IRA Savings
0.20%$25-Main Share
0.20%$5-Vacation/Holiday Club Share

Andover Federal Credit Union Money Market Rates

0.50%*$10k*-Money Market
OTHER TIERS: 0.20% $2.5k - $10k

Andover Federal Credit Union CD Rates

1.01%$500-24 Months CD
0.81%$500-18 Months CD
0.56%$500-12 Months CD
0.50%$500-6 Months CD

Andover Federal Credit Union IRA Rates

1.01%$500-24 Months IRA
0.81%$500-18 Months IRA
0.56%$500-12 Months IRA
0.50%$500-6 Months IRA

Andover Federal Credit Union Locations
Branch Office19C Lupine RdAndover, MA 01810-3909
Branch Office57 River RdAndover, MA 01810

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