IC Federal Credit Union

Overview / Commentary
300 Bemis Rd
Fitchburg, MA 01420

IC Federal Credit Union is headquartered in Fitchburg and is the 27th largest credit union in the state of Massachusetts. It is also the 619th largest credit union in the nation. It was established in 1934 and as of June of 2023, it had grown to 103 employees and 38,840 members at 8 locations. IC Federal Credit Union has a C health rating.

Field of Membership Restrictions

Membership in IC Federal Credit Union is open to those who live, work, worship, attend school, participate in an association with a headquarters, and organizations in Worcester, Middlesex, Franklin, Hampden, Hampshire, or Norfolk Counties in Massachusetts. Membership is also open to family members and organizations of existing members.
See current membership details

Reviews (1)

Good ... Could Be Great

Posted by: |

My company signed up with this CU a few months ago, hoping to find a great local institution with good savings rates.

As happens with most banking institutions, at the time I signed up, the top rate was double what it is now. It dropped precipitously just a few months after setting up accounts with them. The rate is still pretty good, but it always feels like a bait-and-switch (because it is). Buyer beware, I suppose.

Moving past that, their customer service is adequate -- but nothing to write home about.

The web experience is good and you can steer clear of fees for the most part.


Health Grade Components

NCUA #24250
Year Chartered1934
Primary Regulator
Profit Margin
Return on Assets - YTD-0.45%
Return on Equity - YTD-6.31%
Annual Interest Income$12.9MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$655.0MM$611.0MM
LoansQ2 2023vs Q2 2022$550.4MM$500.8MM
DepositsQ2 2023vs Q2 2022$535.8MM$513.5MM
Equity CapitalQ2 2023vs Q2 2022$48.0MM$53.4MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$3.4MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$10.2MM$6.0MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not IC Federal 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.

IC Federal Credit Union Savings Account Rates

0.10%$25-Just 4 Teens Savings
0.05%$50-Statement Savings
0.05%$50-Christmas Club Savings
0.05%$50-IRA Savings
0.05%$50-Reward Saving
0.05%$50-Intelligent Business Savings
0.05%--Veterans Suite Savings
0.02%$50-Passbook Savings
0.02%$5-Just 4 Kids Savings

IC Federal Credit Union Money Market Rates

0.10%*$25k*-Money Market
OTHER TIERS: 0.05% $50 - $25k
0.05%--Intelligent Business Money Market

IC Federal Credit Union Checking Account Rates

0.50%*-$15kReward Checking
OTHER TIERS: 0.25% $15k+
0.50%*-$15kVeteran Checking
OTHER TIERS: 0.25% $15k+
0.05%$50-Intelligent Business CheckingPlus

IC Federal Credit Union CD Rates

0.60%$500-5 Year Term Share Certificate
0.50%$500-4 Year Term Share Certificate
0.40%$500-3 Year Term Share Certificate
0.30%$500-2 Year Term Share Certificate
0.30%$500-1 Year Intelligent Business Relationship CD (New Money Only)
0.25%$500-18 Month Term Share Certificate
0.20%$500-1 Year Term Share Certificate
0.15%$500-6 Month Term Share Certificate
0.10%$500-90 Day Term Share Certificate

IC Federal Credit Union Locations
Branch Office67 Whalon StFitchburg, MA 01420
Branch Office400 Mechanic StLeominster, MA 01453
Branch Office71 Main StWestminster, MA 01473
Branch Office520 Electric AveFitchburg, MA 01420
Branch Office300 Bemis RdFitchburg, MA 01420
Branch Office72 Park StAyer, MA 01432
Branch Office947 W Boylston StWorcester, MA 01606-1275
Branch Office160 Apex Dr Ste AMarlborough, MA 01752

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