IC Federal Credit Union

Overview / Commentary
300 Bemis Rd
Fitchburg, MA 01420

IC Federal Credit Union is headquartered in Fitchburg and is the 26th largest credit union in the state of Massachusetts. It is also the 646th largest credit union in the nation. It was established in 1934 and as of December of 2023, it had grown to 117 employees and 37,185 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-0.32%
Return on Equity - YTD-4.45%
Annual Interest Income$25.5MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$618.8MM$692.8MM
LoansQ4 2023vs Q4 2022$510.1MM$576.4MM
DepositsQ4 2023vs Q4 2022$508MM$539.7MM
Equity CapitalQ4 2023vs Q4 2022$44.5MM$48.9MM
Loan Loss AllowanceQ4 2023vs Q4 2022$6MM$3.7MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$17MM$12.5MM
Real Estate OwnedQ4 2023vs Q4 2022$312K$0

Rates for IC Federal Credit Union are currently being reviewed.


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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