City Of Boston Credit Union

Overview / Commentary
1 Union St
Boston, MA 02108

City Of Boston Credit Union is headquartered in South Boston and is the 27th largest credit union in the state of Massachusetts. It is also the 681st largest credit union in the nation. It was established in 1915 and as of March of 2024, it had grown to 68 employees and 33,186 members at 7 locations. City Of Boston Credit Union's CD rates are 5X the national average, and it has a C+ 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 I also didn't like that the credit union's online interface seemed really outdated and was hard to use, so I relied on monthly paper statements instead which isn't something I prefer.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.

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. City Of Boston Credit Union has a negative return on assets.

Health Grade Components

NCUA #67841
Year Chartered1915
Primary Regulator
Profit Margin
Return on Assets - YTD-2.64%
Return on Equity - YTD-48.78%
Annual Interest Income$6.3MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$582.2MM$668.6MM
LoansQ1 2024vs Q1 2023$452.2MM$474.4MM
DepositsQ1 2024vs Q1 2023$511.7MM$546.3MM
Equity CapitalQ1 2024vs Q1 2023$32.5MM$37.9MM
Loan Loss AllowanceQ1 2024vs Q1 2023$5.4MM$1.4MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$3.1MM$4.1MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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Always verify rates and promotions with the bank or credit union. We are not City Of Boston Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

City Of Boston Credit Union Savings Account Rates

0.20%$25-IRA Savings Account
0.10%$5-Main Share Account
0.10%$25-All-Purpose Club Account
0.10%$25-Thrift Club Account
0.10%$25-Vacation Club
0.10%$25-Holiday Club Account

City Of Boston Credit Union Money Market Rates

1.00%*$100k*-Money Market Account
OTHER TIERS: 0.15% $1k - $20k | 0.30% $20k - $50k | 0.50% $50k - $100k

City Of Boston Credit Union Checking Account Rates

0.05%$25-NOW Accounts

City Of Boston Credit Union CD Rates

4.35%$50k-12 Month Jumbo Share Certificate
4.25%$500-12 Month Share Certificate
1.05%$50k-60 Month Jumbo Share Certificate
0.99%$50k-48 Month Jumbo Share Certificate
0.94%$500-60 Month Share Certificate
0.94%$50k-36 Month Jumbo Share Certificate
0.90%$500-48 Month Share Certificate
0.85%$500-36 Month Share Certificate
0.80%$50k-30 Month Jumbo Share Certificate
0.75%$50k-24 Month Jumbo Share Certificate
0.70%$500-30 Month Share Certificate
0.65%$500-24 Month Share Certificate
0.65%$50k-18 Month Jumbo Share Certificate
0.55%$500-18 Month Share Certificate
0.50%$50k-8 Month Jumbo Share Certificate
0.45%$50k-6 Month Jumbo Share Certificate
0.40%$500-8 Month Share Certificate
0.35%$500-6 Month Share Certificate
0.25%$50k-3 Month Jumbo Share Certificate
0.15%$500-3 Month Share Certificate

City Of Boston Credit Union IRA Rates

4.35%$50k-12 Month Jumbo IRA
4.25%$500-12 Month IRA
1.05%$50k-60 Month Jumbo IRA
0.99%$50k-48 Month Jumbo IRA
0.94%$50k-36 Month Jumbo IRA
0.94%$500-60 Month IRA
0.90%$500-48 Month IRA
0.85%$500-36 Month IRA
0.80%$50k-30 Month Jumbo IRA
0.75%$50k-24 Month Jumbo IRA
0.70%$500-30 Month IRA
0.65%$500-24 Month IRA
0.65%$50k-18 Month Jumbo IRA
0.55%$500-18 Month IRA

City Of Boston Credit Union Locations
Corporate Office455 W BroadwaySouth Boston, MA 02127-2218
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 Office2 Westland AveBoston, MA 02115-3902

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