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Overview / Commentary
617-253-2845
700 Technology Sq
Cambridge, MA 02139-3557

Mass. Institute Of Tech. Federal Credit Union is headquartered in Cambridge and is the 22nd largest credit union in the state of Massachusetts. It is also the 510th largest credit union in the nation. It was established in 1940 and as of March of 2016, it had grown to 81 employees and 33,415 members at 3 locations. Mass. Institute Of Tech. Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Must be an employee at the MIT Campus, MIT Lincoln Laboratory, Charles Stark Draper Laboratory, Whitehead Institute, The Broad Institute or Bright Horizons Children's Center.
See current membership details

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Reviews (1)

MITFCU Review

Posted by: James2 | May 29, 2014

The MIT Federal Credit Union is a good but not great banking institution. They do offer mobile banking but it takes a while to get used to. Basically it works but it's not that good. The mobile app is horrible and barely-functioning. In person they are friendly enough but not super nice. They'll answer your questions but don't seem too happy. I've been at banks that have been far more pleasant. Fees are decent and they refund like $8 a month of ATM fees. I wish this was unlimited though and there marketing material implies it is, which is very deceptive.



Health
B+

Health Grade Components

Overall
NCUA #3830
Year Chartered1940
Employees81
Primary Regulator
Profit Margin
Return on Assets - YTD0.68%
Return on Equity - YTD8.86%
Annual Interest Income$4.2MM
Assets and Liabilities
AssetsQ1 2016vs Q1 2015$490.4MM$440.2MM
LoansQ1 2016vs Q1 2015$389.0MM$326.0MM
DepositsQ1 2016vs Q1 2015$450.3MM$403.3MM
Equity CapitalQ1 2016vs Q1 2015$36.1MM$33.2MM
Loan Loss AllowanceQ1 2016vs Q1 2015$1.1MM$1.2MM
Unbacked Noncurrent LoansQ1 2016vs Q1 2015$3.3MM$3.4MM
Real Estate OwnedQ1 2016vs Q1 2015$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Mass. Institute Of Tech. Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.35%$25k-Select Savings Account
0.25%$100-IRA Savings
0.25%$100-Roth IRA Savings
0.10%$100-Savings Account
0.10%--Holiday Club Accounts
0.10%--Vacation Club Accounts

Mass. Institute Of Tech. Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%*$50k*-Money Market Account
OTHER TIERS: 0.20% $1k - $10k | 0.25% $10k - $50k

Mass. Institute Of Tech. Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.30%*$100k*-Select Checking
OTHER TIERS: 0.05% $10k - $25k | 0.10% $25k - $50k | 0.25% $50k - $100k
0.05%$2,500-Plus Checking

Mass. Institute Of Tech. Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%$50k-60 Month Jumbo Smart Money Rewards CD
1.85%$500-60 Month Smart Money Rewards CD
1.80%$50k-48 Month Jumbo Smart Money Rewards CD
1.75%$50k-60 Jumbo Month CD
1.65%$50k-36 Month Jumbo Smart Money Rewards CD
1.65%$500-48 Month Smart Money Rewards CD
1.60%$500-60 Month CD
1.55%$50k-48 Jumbo Month CD
1.50%$500-36 Month Smart Money Rewards CD
1.40%$500-48 Month CD
1.40%$50k-36 Month Jumbo CD
1.40%$50k-28 Month Smart Money Rewards Jumbo Jump-Up CD
1.30%$50k-24 Month Jumbo Smart Money Rewards CD
1.25%$500-36 Month CD
1.25%$500-28 Month Smart Money Rewards Jump-Up CD
1.20%$50k-18 Month Jumbo Smart Money Rewards CD
1.15%$50k-28 Month Jumbo Jump-Up CD
1.15%$500-24 Month Smart Money Rewards CD
1.10%$50k-16 Month Smart Money Rewards Jumbo Jump-Up CD
1.05%$50k-24 Month Jumbo CD
1.05%$50k-12 Month Jumbo Smart Money Rewards CD
1.05%$500-18 Month Smart Money Rewards CD
1.00%$500-28 Month Jump-Up CD
0.95%$50k-18 Month Jumbo CD
0.95%$500-16 Month Smart Money Rewards Jump-Up CD
0.90%$500-24 Month CD
0.90%$500-12 Month Smart Money Rewards CD
0.85%$50k-16 Month Jumbo Jump-Up CD
0.80%$500-18 Month CD
0.80%$50k-12 Month Jumbo CD
0.70%$500-16 Month Jump-Up CD
0.65%$500-12 Month CD

Mass. Institute Of Tech. Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%$50k-60 Month Jumbo Smart Money Rewards Jumbo IRA
1.95%$500-60 Month Smart Money Rewards IRA
1.90%$50k-48 Month Jumbo Smart Money Rewards IRA
1.85%$50k-60 Month Jumbo IRA
1.75%$50k-36 Month Jumbo Smart Money Rewards IRA
1.75%$500-48 Month Smart Money Rewards IRA
1.70%$500-60 Month IRA
1.65%$50k-48 Month Jumbo IRA
1.60%$500-36 Month Smart Money Rewards IRA
1.50%$500-48 Month IRA
1.50%$50k-36 Month Jumbo IRA
1.50%$50k-28 Month Smart Money Rewards Jumbo Jump-Up IRA
1.40%$50k-24 Month Jumbo Smart Money Rewards IRA
1.35%$500-36 Month IRA
1.35%$500-28 Month Smart Money Rewards Jump-Up IRA
1.30%$50k-18 Month Jumbo Smart Money Rewards IRA
1.25%$50k-28 Month Jumbo Jump-Up IRA
1.25%$500-24 Month Smart Money Rewards IRA
1.20%$50k-16 Month Smart Money Rewards Jumbo Jump-Up IRA
1.15%$50k-24 Month Jumbo IRA
1.15%$50k-12 Month Jumbo Smart Money Rewards IRA
1.15%$500-18 Month Smart Money Rewards IRA
1.10%$500-28 Month IRA Jump-Up IRA
1.05%$50k-18 Month Jumbo IRA
1.05%$500-16 Month Smart Money Rewards Jump-Up IRA
1.00%$500-24 Month IRA
1.00%$500-12 Month Smart Money Rewards IRA
0.95%$50k-16 Month Jumbo Jump-Up IRA
0.90%$500-18 Month IRA
0.90%$50k-12 Month Jumbo IRA
0.80%$500-16 Month IRA Jump-Up IRA
0.75%$500-12 Month IRA
Locations


Mass. Institute Of Tech. Federal Credit Union Locations
Branch Office700 Technology SqCambridge, MA 02139-3557
Branch Office244 Wood St # LINA-100Lexington, MA 02421-6426
Branch Office84 Massachusetts AveCambridge, MA 02139-4300