Andover Federal Credit Union


Overview / Commentary
978-475-6133
19C Lupine Rd
Andover, MA 01810

Andover Federal Credit Union is headquartered in Andover and is the 77th largest credit union in the state of Massachusetts. It is also the 2,722nd largest credit union in the nation. It was established in 1964 and as of March of 2025, it had grown to 6 employees and 2,151 members at 2 locations. Andover Federal Credit Union 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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Health
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

Overall
NCUA #16067
Year Chartered1964
Employees6
Primary Regulator
Profit Margin
Return on Assets - YTD0.44%
Return on Equity - YTD3.54%
Annual Interest Income$280K
Assets and Liabilities
AssetsQ1 2025vs Q1 2024$36.5MM$37.8MM
LoansQ1 2025vs Q1 2024$8.7MM$9.2MM
DepositsQ1 2025vs Q1 2024$32MM$33.4MM
Equity CapitalQ1 2025vs Q1 2024$4.5MM$4.3MM
Loan Loss AllowanceQ1 2025vs Q1 2024$174K$198K
Unbacked Noncurrent LoansQ1 2025vs Q1 2024$17K$149K
Real Estate OwnedQ1 2025vs Q1 2024$0$0
Rates

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Locations


Andover Federal Credit Union Locations
Branch Office19C Lupine RdAndover, MA 01810-3909
Branch Office91 1/2 Main StNorth Andover, MA 01845

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