IC Federal Credit Union is headquartered in Fitchburg and is the 26th largest credit union in the state of Massachusetts. It is also the 658th largest credit union in the nation. It was established in 1934 and as of June of 2024, it had grown to 112 employees and 36,037 members at 8 locations. IC Federal Credit Union has a C- health rating.
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
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.
| Overall | |
|---|---|
| NCUA # | 24250 |
| Year Chartered | 1934 |
| Employees | 112 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -1.13% |
| Return on Equity - YTD | -17.61% |
| Annual Interest Income | $12.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $609MM$655MM |
| Loans | Q2 2024vs Q2 2023 | $466.4MM$550.4MM |
| Deposits | Q2 2024vs Q2 2023 | $508.8MM$535.8MM |
| Equity Capital | Q2 2024vs Q2 2023 | $39.9MM$48MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $5.7MM$3.6MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $19.4MM$10.2MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $332K$0 |
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.
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 0.10% | $5 | - | Just 4 Kids Savings | |
| 0.05% | $50 | - | Christmas Club Savings | |
| 0.05% | $50 | - | IRA Savings | |
| 0.05% | $0 | - | Veterans Suite Savings | |
| 0.05% | $50 | - | Regular Savings | |
| 0.05% | $50 | - | Business Savings |
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.10%* | $25k* | - | Money Market | ||
| OTHER TIERS: 0.05% → $50 - $25k | |||||
| 0.05% | $0 | - | Business Money Market | ||
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.50%* | $0 | $15k | Reward Checking | ||
| OTHER TIERS: 0.25% → $15k+ | |||||
| 0.50%* | $0 | $15k | Veteran Checking | ||
| OTHER TIERS: 0.25% → $15k+ | |||||
| 0.05% | $50 | - | Business checking Plus | ||
| IC Federal Credit Union Locations | ||
|---|---|---|
| Branch Office | 67 Whalon St | Fitchburg, MA 01420 |
| Branch Office | 400 Mechanic St | Leominster, MA 01453 |
| Branch Office | 71 Main St | Westminster, MA 01473 |
| Branch Office | 520 Electric Ave | Fitchburg, MA 01420 |
| Branch Office | 300 Bemis Rd | Fitchburg, MA 01420 |
| Branch Office | 72 Park St | Ayer, MA 01432 |
| Branch Office | 947 W Boylston St | Worcester, MA 01606-1275 |
| Branch Office | 160 Apex Dr Ste A | Marlborough, MA 01752 |