Milford Federal Bank

Overview / Commentary

www.milfordfederal.com

508-634-2500

246 Main St
Milford, MA 01757

Milford Federal Bank is headquartered in MILFORD and is the 76^th largest bank in the state of Massachusetts. It is also the 1,782^nd largest bank in the nation. It was established in 1937 and as of June of 2024, it had grown to 63 employees at 4 locations. Milford Federal Bank's CD rates are 4X the national average, and it has an A health rating.

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Health

Data as of Q2 2024

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Health Grade Components

Overall
FDIC Certificate #	29835
Year Established	1937
Employees	63
Primary Regulator	OCC

Profit Margin
Return on Assets - YTD	0.22%
Return on Equity - YTD	1.99%
Annual Interest Income	$10MM

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$501.5MM$493.9MM
Loans	Q2 2024vs Q2 2023	$435.5MM$422.9MM
Deposits	Q2 2024vs Q2 2023	$373.9MM$375.5MM
Equity Capital	Q2 2024vs Q2 2023	$56MM$54.1MM
Loan Loss Allowance	Q2 2024vs Q2 2023	$1.9MM$2.2MM
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$1.3MM$949K
Real Estate Owned	Q2 2024vs Q2 2023	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Milford Federal Bank Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
4.00%	$10	-	Business Statement Saving
2.50%^*	$25k^*	-	EZ Choice Savings
OTHER TIERS: 1.25% → $0 - $25k
0.05%	$10	-	Regular Passbook
0.05%	$10	-	Statement Savings
0.05%	$0	-	Smart Start Savings Account

Milford Federal Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.10%^*	$10k^*	-	Money Market Checking Account
OTHER TIERS: 0.05% → $50 - $10k
0.10%^*	$10k^*	-	Business Money Market Account
OTHER TIERS: 0.05% → $50 - $10k

Milford Federal Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME	VIEW DETAILS
3.00%^*	$0	$10k	EZ Interest Checking
OTHER TIERS: 0.10% → $10k+

Milford Federal Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
5.00%	$1k	-	9 Month CD
3.75%	$1k	-	6 Month CD
3.75%	$1k	-	12 Month CD
3.75%	$1k	-	60 Month CD
3.50%	$1k	-	48 Month CD
3.25%	$1k	-	36 Month CD
3.00%	$1k	-	24 Month CD
2.02%	$500	-	36 Months Home Buyers CD
2.02%	$500	-	36 Month Education CD
0.20%	$1k	-	18 Month CD
0.10%	$1k	-	3 Month CD

Milford Federal Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
5.00%	$1k	-	9 Month IRA
3.75%	$1k	-	6 Month IRA
3.75%	$1k	-	12 Month IRA
3.75%	$1k	-	60 Month IRA
3.50%	$1k	-	48 Month IRA
3.25%	$1k	-	36 Month IRA
3.00%	$1k	-	24 Month IRA
0.10%	$1k	-	3 Month IRA
0.10%	$25	-	1 1/2 Year IRA

Locations

Milford Federal Bank Locations
Whitinsville Branch	1271 Providence Road	Whitinsville, MA 01588
Woonsocket Branch	2020 Diamond Hill Road	Woonsocket, RI 02895
Milford Federal Savings and Loan Association	246 Main St	Milford, MA 01757
Route 109 Plaza Branch	91 Medway Road	Milford, MA 01757

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