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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 77th largest bank in the state of Massachusetts. It is also the 1,759th largest bank in the nation. It was established in 1937 and as of June of 2023, it had grown to 67 employees at 4 locations. Milford Federal Bank's CD rates are 5X the national average, and it has a B+ health rating.

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Health
B+

Data as of Q2 2023

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #29835
Year Established1937
Employees67
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.37%
Return on Equity - YTD3.36%
Annual Interest Income$8.8MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$493.9MM$456.0MM
LoansQ2 2023vs Q2 2022$422.9MM$386.5MM
DepositsQ2 2023vs Q2 2022$375.5MM$396.4MM
Equity CapitalQ2 2023vs Q2 2022$54.1MM$52.1MM
Loan Loss AllowanceQ2 2023vs Q2 2022$2.2MM$1.9MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$949.00K$602.00K
Real Estate OwnedQ2 2023vs Q2 2022$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.

Milford Federal Bank Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.04%$10-Business Statement Saving
0.20%*$25k*-EZ Choice Savings
OTHER TIERS: 0.10% → Up to $25k
0.05%$10-Regular Passbook
0.05%$10-Statement Savings

Milford Federal Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.20%*$25k*-Money Market Account
OTHER TIERS: 0.05% → $50 - $10k | 0.10% → $10k - $25k
0.20%*$25k*-Business Money Market Account
OTHER TIERS: 0.05% → $50 - $10k | 0.10% → $10k - $25k

Milford Federal Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*-$10kEZ Interest Checking
OTHER TIERS: 0.10% → $10k+

Milford Federal Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.33%$1k-12 Month CD
2.53%$1k-48 Month CD
2.02%$1k-24 Month CD
2.02%$1k-36 Month CD
2.02%$500-3 Year Home Buyers CD
2.02%$500-3 Year Education CD
1.51%$1k-14 Month CD Special
1.11%$1k-9 Month CD
0.50%$1k-6 Month CD
0.10%$1k-3 Month CD
0.10%$1k-60 Month CD

Milford Federal Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.33%$1k-14 Month IRA Special
2.78%$1k-60 Month IRA
2.53%$1k-48 Month IRA
2.02%$1k-36 Month IRA
1.51%$1k-24 Month IRA
1.11%$1k-1 Year IRA
0.50%$1k-6 Month IRA
0.15%$1k-9 Month IRA
0.10%$1k-3 Month IRA
0.10%$25-1 1/2 Year IRA
Locations


Milford Federal Bank Locations
Whitinsville Branch1271 Providence RoadWhitinsville, MA 01588
Woonsocket Branch2020 Diamond Hill RoadWoonsocket, RI 02895
Milford Federal Savings and Loan Association246 Main StMilford, MA 01757
Route 109 Plaza Branch91 Medway RoadMilford, MA 01757

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