City Of Boston Credit Union


Overview / Commentary
617-635-4545
1 Union St
Boston, MA 02108

City Of Boston Credit Union is headquartered in BOSTON and is the 24th largest credit union in the state of Massachusetts. It is also the 592nd largest credit union in the nation. It was established in 1915 and as of June of 2022, it had grown to 77 employees and 33,064 members at 9 locations. City Of Boston Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in City Of Boston Credit Union is open to those who live, work, or attend school in the Massachusetts counties of Middlesex, Norfolk, or Suffolk. Faculty, staff, registered students, and alumni of Northeastern University also qualify for membership. Employees of the City of Boston or the Commonwealth of Massachusetts are also eligible to join.
See current membership details

Reviews (2)

City of Boston CU review

I previously had a savings account at City of Boston Credit Union for about two years. The interest rates were competitive among other physical banks and credit unions in the area, but I ultimately left the credit union and opened a savings account with an online-only bank since I found the interest rates there were significantly higher. I also didn't like that the credit union's online interface seemed really outdated and was hard to use, so I relied on monthly paper statements instead which isn't something I prefer. Because the online system wasn't efficient, I went to the physical location of the bank whenever I needed to do something, which wasn't at all convenient since there were so few physical locations.

Not Worth The Hassle

With the lack of deposit-taking ATMs, the hidden policies that are not recorded in any of their terms and conditions (and that they will even acknowledge aren't published publicly), the minuscule dividend payments, the multiple data errors, and the generally unfriendly staff (at least at my branch), this is just not what I'm looking for in a credit union. Luckily, other credit unions in the area make it easy to switch accounts, so that is just what I intend to do.



Health
B+

Health Grade Components

Overall
NCUA #67841
Year Chartered1915
Employees77
Primary Regulator
Profit Margin
Return on Assets - YTD0.13%
Return on Equity - YTD2.22%
Annual Interest Income$9.5MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$662.5MM$615.0MM
LoansQ2 2022vs Q2 2021$431.0MM$348.3MM
DepositsQ2 2022vs Q2 2021$593.7MM$546.0MM
Equity CapitalQ2 2022vs Q2 2021$39.8MM$52.3MM
Loan Loss AllowanceQ2 2022vs Q2 2021$1.4MM$1.7MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$3.9MM$4.1MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
Rates

Rates for City Of Boston Credit Union are currently being reviewed.

Locations


City Of Boston Credit Union Locations
Corporate Office1 UNION STBOSTON, MA 02108
Branch Office77 Spring StWest Roxbury, MA 02132-4302
Branch OfficeCity HallBoston, MA 02201
Branch Office1010 William T Morrissey BlvdDorchester, MA 02122-3153
Branch Office305 Turnpike StCanton, MA 02021-2715
Branch Office130 W BroadwaySouth Boston, MA 02127-1018
Branch Office270 Central AveJohnston, RI 02919-4923
Branch Office1125 Boston Providence TpkeNorwood, MA 02062
Branch Office2 Westland AveBoston, MA 02115-3902

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