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Mills42 Federal Credit Union


Overview / Commentary
www.mills42fcu.com
978-328-5100
83 Merrimack St
Lowell, MA 01852

Mills42 Federal Credit Union is headquartered in Lowell and is the 93rd largest credit union in the state of Massachusetts. It is also the 3,138th largest credit union in the nation. It was established in 1958 and as of December of 2022, it had grown to 6 employees and 2,996 members at 1 location. Mills42 Federal Credit Union's savings rates are 2X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership is open to anyone who is a member of Mothers Against Drunk Driving (M.A.D.D.-donation required) or through membership of the Tewksbury Historical Society ($20 individual membership). Membership is also open to those who live, work, worship, or attend school in the city of Lowell, the northern portion of Chelmsford, or the western portion of Tewksbury.
See current membership details

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Reviews (2)

This Credit Union Is Awesome For People Like Juan

Posted by: |

Thank you Juan for helping understand the process of the loan and for the help and understanding my problem and helping me open a new account.i really recommend this credit union because Juan understand and care about the costumer needs and they go above and beyond to help others..Ty Juan keep the awesome work and God blessed you u are a awesome human being..

1

Great Customer Service

Posted by: |

I highly recommend Mills42 for their exceptional customer service. I especially recommend working with Mr. David Correa. David helped me set up a new account, he bent over backwards to help me with a loan payment re-modification and he remained patient and calm when at times I was feeling the pressure and stress. David is great at his craft and is absolutely in the right business. If you are lucky enough to work with someone like David, you are in for a treat.

David reminds me of what banking should be today. Friendly, Personable, Professional and Reliable. Thank you for everything you do David at Mills42. Its people like yourself that make a difference on a daily basis.

Very Satisfied Customer,
Daniela

1


Health
B

Data as of Q4 2022

Learn why bank health matters
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. Mills42 Federal Credit Union has a low asset base.

Health Grade Components

Overall
NCUA #12666
Year Chartered1958
Employees6
Primary Regulator
Profit Margin
Return on Assets - YTD0.64%
Return on Equity - YTD5.91%
Annual Interest Income$912.00K
Assets and Liabilities
AssetsQ4 2022vs Q4 2021$26.4MM$27.8MM
LoansQ4 2022vs Q4 2021$21.2MM$17.5MM
DepositsQ4 2022vs Q4 2021$22.5MM$24.0MM
Equity CapitalQ4 2022vs Q4 2021$2.9MM$2.7MM
Loan Loss AllowanceQ4 2022vs Q4 2021$0$46.00K
Unbacked Noncurrent LoansQ4 2022vs Q4 2021$7.00K$21.00K
Real Estate OwnedQ4 2022vs Q4 2021$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Mills42 Federal Credit Union; we are a rate comparison website and cannot provide official rates or promotions.

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

Mills42 Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.75%--Round Up Savings
1.10%*$100k*-Super Saver Account
OTHER TIERS: 0.50% → $2.5k - $10k | 0.65% → $10k - $25k | 0.80% → $25k - $50k | 0.95% → $50k - $100k
0.30%$500-IRA Savings
0.10%$500-Share Savings
0.10%$500-Share Clubs
0.10%$5-Kids Club

Mills42 Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$500*$10kRewards Checking - Qualifying
OTHER TIERS: 0.20% → $10k+

Mills42 Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
5.00%$500-13 Month CD Special w/e-statements
4.75%$500-13 Month CD Special
4.50%$500-25 Month CD Special w/e-statements
4.25%$500-25 Month CD Special
2.50%$500-60 Month CD w/eStatements
2.25%$500-60 Month CD
2.25%$200-60 Month Kid's Club CD
2.25%$500-48 Month CD w/e-statement
2.00%$500-48 Month CD
2.00%$200-48 - 59 Month Kid's Club CD
2.00%$500-36 Month CD w/e-statement
1.75%$500-36 Month CD
1.75%$200-36 - 47 Month Kid's Club CD
1.75%$500-24 Month CD w/e-statement
1.50%$500-24 Month CD
1.50%$200-24 - 35 Month Kid's Club CD
1.50%$500-12 Month CD w/e-statement
1.25%$500-12 Month CD
1.25%$200-12 - 23 Month Kid's Club CD
1.00%$500-6 Month CD w/e-statement
0.75%$500-6 Month CD
0.75%$200-6 - 11 Month Kid's Club CD

Mills42 Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.50%$500-60 Month IRA w/e Statements
2.25%$500-6 Month IRA
2.25%$500-48 Month IRA w/e-statement
2.00%$500-12 Month IRA
2.00%$500-36 Month IRA w/e-statement
1.75%$500-24 Month IRA
1.75%$500-24 Month IRA w/e-statement
1.50%$500-36 Month IRA
1.50%$500-12 Month IRA w/e-statement
1.25%$500-48 Month IRA
1.00%$500-6 Month IRA w/e-statement
0.75%$500-60 Month IRA
Locations


Mills42 Federal Credit Union Locations
Branch Office83 Merrimack StLowell, MA 01852

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