Hanscom Federal Credit Union is headquartered in Hanscom AFB and is the 6th largest credit union in the state of Massachusetts. It is also the 248th largest credit union in the nation. It was established in 1953 and as of June of 2022, it had grown to 249 employees and 93,114 members at 22 locations. Hanscom Federal Credit Union has an A health rating.
Membership in Hanscom Federal Credit Union is open anyone through joining the Nashua River Watershed Association ($35 membership fee). Membership is also open to the following: (1) active or retired military; (2) employees or retirees of any federal government agency with a duty station in Massachusetts; (3) employees of Lockheed-Martin NISC, Scansoft, and more than 100 area Select Employer Groups.
See current membership details
I just had a good interaction with the management at Hanson Federal Credit Union, and now I want to share this experience! When changing a loan over to HFCU, a check was marked as never received by the old loan processor. A “Stop Payment” order was issued, and a new check was mailed by HFCU. In the meantime, a negative mark was placed on my credit report by the old loan processor.
That negative mark brought my “On Time” score down only one percent (99% versus 100%) – yet that had a significant impact on my total credit score.
I contacted HFCU and asked for their assistance in straightening out exactly what happened. They immediately sent a letter for me to the old loan processor, who investigated and corrected the negative mark to four different credit reporting agencies. My credit score immediately jumped 33 points to 721, the highest I had in years!
Thank you, Hanson Federal Credit Union!
I had a problem recently where my bank debit card with the chip was not being read properly when I inserted it into the reader for payment. I called the customer service number and spoke to someone who said I could stop by the local branch office to have it checked, or another one could be ordered. I opted to go into into the office during my lunch our. I had to wait a few minutes before someone coluld help me. They have an odd set up - there is no customer service area. The representatives are in offices that call you in or come out to greet you. A woman called me into her office. She checked my card and indeed it was not working. She ordered a new one for me. Unfortunately, it took about a week to receive.
I have been to my credit union on numerous occasions. I usually go during the lunch hours. The set up is not like the typical bank. There is no wall with tellers behind and customers on the other sides. There are 3-4 offices where they simply come out to greet you and and sit you at at a desk where you conduct your business. It can be a bit odd if you get there and there is one or two ban reps in the offices on the phone or with a customer. You end up waiting in the common area, walking around a bit uncomfortably, and peeking into offices periodically.
I’ve been a member for about 40 years. Service was fantastic until the credit union greatly increased in size, expanded membership eligibility, and began to hire “off the street,” usually resulting in mediocre to poor customer service. Count on at least two to three errors on your account per year, some of which are major. Having to wait until someone eventually may exit an office to provide assistance isn’t customer friendly. I remain a member only because the rates are competitive.
I opened a CD with this bank. Their limit is $50,000.00. If you want to open another you're out of luck. I wasted two hours (FIVE phone calls) with this bank's representatives. Each one gave me a different story. It was maddening and a total waste of time.
Has taken forever to get a response about opening an account (whereas elsewhere you get a response right away after you apply online). It seems they do not want people's money. Suggest you go elsewhere where your money can be appreciated and you get more attention
|Return on Assets - YTD||0.6%|
|Return on Equity - YTD||6.68%|
|Annual Interest Income||$27.7MM|
|Assets and Liabilities|
|Assets||Q2 2022vs Q2 2021||$1.84B$1.75B|
|Loans||Q2 2022vs Q2 2021||$1.46B$1.41B|
|Deposits||Q2 2022vs Q2 2021||$1.65B$1.56B|
|Equity Capital||Q2 2022vs Q2 2021||$166.2MM$165.9MM|
|Loan Loss Allowance||Q2 2022vs Q2 2021||$5.3MM$5.8MM|
|Unbacked Noncurrent Loans||Q2 2022vs Q2 2021||$3.2MM$2.0MM|
|Real Estate Owned||Q2 2022vs Q2 2021||$0$0|
Rates for Hanscom Federal Credit Union are currently being reviewed.