Merrimack Valley Credit Union is headquartered in Lawrence and is the 5th largest credit union in the state of Massachusetts. It is also the 196th largest credit union in the nation. It was established in 1955 and as of June of 2023, it had grown to 307 employees and 116,725 members at 19 locations. Merrimack Valley Credit Union's money market rates are 11X the national average, and it has an A health rating.
Field of Membership Restrictions
Membership in Merrimack Valley Credit Union is open to those who live, worship, work, or attend school in the Massachusetts counties of Barnstable, Bristol, Essex, Middlesex, Norfolk, Plymouth, Suffolk, or Worcester; the New Hampshire counties of Hillsborough, or Rockingham; the Rhode Island counties of Kent or Providence. Membership is also open those who have a family member who qualifies for membership.
See current membership details
Great All Around Bank
I have been a customer to this bank for 4 years and they have always been wonderful to conduct business with. They have great customer service and are committed to helping each customer feel like they are just as important as the next. They are not out to make money of their customers through fees like most big banks. I have a Checking, Savings and Car Loan through MVFCU and found each service to be great with no problems.
Great credit union!
Merrimac Valley Federal Credit Union is a fantastic company to work with! I have been with them for over 10 years now, and I have not had one single complaint with any aspect of their services. They have many convenient locations and offer the ability to have credits when you use out-of-network ATMs. That way, you don't have to hunt for a location that will not charge you to make a withdrawal! Every time I visit their local branch, they are always courteous and friendly, and they never cease to help me no matter what my problem or question is. Their rates for checking and saving accounts can NOT be beat! I would highly recommend that, if you have the ability to, absolutely take advantage of this wonderful credit union, I'm willing to be you will not be disappointment!
I Would Never Recommend This Branch
This bank is very unprofessional to their members and doesn't care about them at all. I was a member for several years and had a mortgage loan with them. Lisa L was head of that department and let me tell you she was the rudest and most unprofessional person i ever dealt with in my entire life. When I lost my job she was very unsympathetic and disrespectful. I couldn't believe a branch would represent themselves like this and treat people the way she did. I would never recommend this branch and say stay away. There are plenty of other branches out there I found that care for their members
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68693 |
| Year Chartered | 1955 |
| Employees | 307 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.18% |
| Return on Equity - YTD | 1.88% |
| Annual Interest Income | $25.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $2.30B$1.29B |
| Loans | Q2 2023vs Q2 2022 | $1.49B$861.7MM |
| Deposits | Q2 2023vs Q2 2022 | $2.07B$1.16B |
| Equity Capital | Q2 2023vs Q2 2022 | $172.9MM$86.2MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $0$8.4MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $3.8MM$3.5MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
