Mills42 Federal Credit Union is headquartered in Lowell and is the 83rd largest credit union in the state of Massachusetts. It is also the 2,984th largest credit union in the nation. It was established in 1958 and as of June of 2024, it had grown to 8 employees and 2,965 members at 1 location. Mills42 Federal Credit Union 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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Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 12666 |
| Year Chartered | 1958 |
| Employees | 8 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.76% |
| Return on Equity - YTD | 6.57% |
| Annual Interest Income | $809K |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $28.2MM$27.1MM |
| Loans | Q2 2024vs Q2 2023 | $21MM$21.3MM |
| Deposits | Q2 2024vs Q2 2023 | $24.3MM$22.9MM |
| Equity Capital | Q2 2024vs Q2 2023 | $3.2MM$3MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $64K$50K |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $10K$12K |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |