Overview / Commentary
Mass Bay Credit Union is headquartered in South Boston and is the 35th largest credit union in the state of Massachusetts. It is also the 967th largest credit union in the nation. It was established in 1936 and as of September of 2022, it had grown to 47 employees and 19,576 members at 4 locations. Mass Bay Credit Union has a B+ health rating.
Field of Membership Restrictions
Membership is open to those who live or work in Norfolk or Suffolk Counties, Everett, Hanover, Hingham, Lynn, Malden, Marshfield, Medford, Melrose, Norwell, Peabody, Rockland, Saugus, Scituate, Somerville, Stoneham and Whitman; employees of Massachusetts Department of Transportation.
See current membership details
Health
B+
Data as of Q3 2022
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68137 |
| Year Chartered | 1936 |
| Employees | 47 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.81% |
| Return on Equity - YTD | 9.61% |
| Annual Interest Income | $7.3MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2022vs Q3 2021 | $314.5MM$294.3MM |
| Loans | Q3 2022vs Q3 2021 | $254.4MM$223.8MM |
| Deposits | Q3 2022vs Q3 2021 | $256.1MM$254.2MM |
| Equity Capital | Q3 2022vs Q3 2021 | $26.2MM$29.6MM |
| Loan Loss Allowance | Q3 2022vs Q3 2021 | $474.00K$632.00K |
| Unbacked Noncurrent Loans | Q3 2022vs Q3 2021 | $1.3MM$1.0MM |
| Real Estate Owned | Q3 2022vs Q3 2021 | $0$0 |