Overview / Commentary
Members Plus Credit Union is headquartered in Medford and is the 33rd largest credit union in the state of Massachusetts. It is also the 971st largest credit union in the nation. It was established in 1940 and as of September of 2024, it had grown to 46 employees and 13,808 members at 7 locations. Members Plus Credit Union has a B health rating.
Field of Membership Restrictions
Members Plus Credit Union is open to those who live or work in Essex, Norfolk, Middlesex, Suffolk, or Plymouth Counties in Massachusetts. Membership is also open to employees and retirees of the Eversource Companies, Exelon and Entergy.
See current membership details
Health
B
Data as of Q3 2024
Learn why bank health mattersAdditional 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. Members Plus Credit Union has a negative return on assets.
Health Grade Components
| Overall | |
|---|---|
| NCUA # | 66706 |
| Year Chartered | 1940 |
| Employees | 46 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -2.27% |
| Return on Equity - YTD | -38.87% |
| Annual Interest Income | $10.6MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2024vs Q3 2023 | $325.7MM$342.2MM |
| Loans | Q3 2024vs Q3 2023 | $188.3MM$186.6MM |
| Deposits | Q3 2024vs Q3 2023 | $250.4MM$263.1MM |
| Equity Capital | Q3 2024vs Q3 2023 | $20MM$7.1MM |
| Loan Loss Allowance | Q3 2024vs Q3 2023 | $405K$599K |
| Unbacked Noncurrent Loans | Q3 2024vs Q3 2023 | $2MM$2.2MM |
| Real Estate Owned | Q3 2024vs Q3 2023 | $0$0 |