GFA Federal Credit Union is headquartered in Gardner and is the 24th largest credit union in the state of Massachusetts. It is also the 559th largest credit union in the nation. It was established in 1938 and as of September of 2021, it had grown to 83 employees and 30,386 members at 10 locations. GFA Federal Credit Union has an A health rating.
Field of Membership Restrictions
GFA Federal Credit Union is open to employees, residents, and businesses of Southern New Hampshire and Worcester County, MA
See current membership details
Favorite Credit Union!
I’ve been banking with GFA for nearly 10 years. I’ve honestly never had a problem. The people there are great. Even through Covid and lobbies closing, they have done their best to make things run normally. They offer everything I need including car insurance. Great local place for banking.
Rates And Service
Great rates, both deposits and loans, including a 3.51% rewards checking account, and the highest regular savings rate in its market area. Combine that with pleasant, personal service, plus investments and insurance, and you have a one-stop financial services organization... onlt criticism, they aren't everywhere.
Lack Of Common Courtesy
I had my car loan through GFA apparently a passbook was opened and I was Never made aware of this. After 8 months they started charging me a fee for no transactions, 3 months worth. I signed up for a life insurance policy through GFA, under the assumption I would be billed the same as my auto loan, NO, they charged me for $80. for insufficient funds without ever once notifying me of any problem or of a passbook. Their lack of professionalism and courtesy speaks for itself, I highly recommend anyone to stay away from them.
Horrible Bank
I opened a savings account at GFA credit union - Ashburnham, MA. When I moved a couple of years ago I forgot to change my mailing address. I went into the bank a couple of days ago to close the account and the bank had taken out over $400 because they couldn't send me my statements. BECAUSE they DID NOT send my statements. So they had less work to do and charged me for it. Many phone calls to various managers and they insist this is legal. REALLY???!!!
Discriminatory Practices
Twice I have been rejected for an auto loan with GFA. My credit score is nearly 800 and I have an annual income of over $175,000 with equity in my home. It must be a matter of someone there not liking me or maybe its my Latino heritage. Stay away from this organization and its discriminatory practices
Data as of Q3 2021
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24279 |
| Year Chartered | 1938 |
| Employees | 83 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.54% |
| Return on Equity - YTD | 5.86% |
| Annual Interest Income | $11.0MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2021vs Q3 2020 | $675.8MM$593.6MM |
| Loans | Q3 2021vs Q3 2020 | $265.3MM$312.1MM |
| Deposits | Q3 2021vs Q3 2020 | $584.7MM$468.4MM |
| Equity Capital | Q3 2021vs Q3 2020 | $61.4MM$62.8MM |
| Loan Loss Allowance | Q3 2021vs Q3 2020 | $2.0MM$2.2MM |
| Unbacked Noncurrent Loans | Q3 2021vs Q3 2020 | $725.00K$2.2MM |
| Real Estate Owned | Q3 2021vs Q3 2020 | $92.00K$0 |