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Melrose First Federal Credit Union

Popular Accounts at this Credit Union

0.50%1-year CD12 Month CD
0.15%SavingsRegular Shares Account
0.85%2-year CD24 Month CD

Overview / Commentary
616 Main St
Melrose, MA 02176

Melrose First Federal Credit Union is headquartered in MELROSE and is the 117th largest credit union in the state of Massachusetts. It is also the 3,978th largest credit union in the nation. It was established in 1962 and as of December of 2017, it had grown to 2 employees and 1,560 members at 1 location. Melrose First Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership is open to employees of the City of Melrose, Melrose Housing Authority, EMARC, Congregational Retirement Homes Inc., Melrose YMCA, Montvale Tire Company, and members of the Melrose Chamber of Commerce.
See current membership details


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Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Melrose First Federal Credit Union has a low asset base.

Health Grade Components

NCUA #14820
Year Chartered1962
Primary Regulator
Profit Margin
Return on Assets - YTD0.15%
Return on Equity - YTD0.92%
Annual Interest Income$334.00K
Assets and Liabilities
AssetsQ4 2017vs Q4 2016$11.6MM$10.8MM
LoansQ4 2017vs Q4 2016$6.2MM$5.1MM
DepositsQ4 2017vs Q4 2016$9.8MM$9.0MM
Equity CapitalQ4 2017vs Q4 2016$1.8MM$1.8MM
Loan Loss AllowanceQ4 2017vs Q4 2016$44.00K$41.00K
Unbacked Noncurrent LoansQ4 2017vs Q4 2016$0$4.00K
Real Estate OwnedQ4 2017vs Q4 2016$0$0
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Melrose First Federal Credit Union Savings Account Rates

0.15%--Regular Shares Account
0.15%--Club Account

Melrose First Federal Credit Union CD Rates

0.85%$1k-24 Month CD
0.65%$1k-18 Month CD
0.50%$1k-12 Month CD
0.25%$1k-6 Month CD

Melrose First Federal Credit Union Locations
Branch Office616 MAIN STMELROSE, MA 02176