Mills42 Federal Credit Union


Overview / Commentary
978-328-5100
83 Merrimack St
Lowell, MA 01852

Mills42 Federal Credit Union is headquartered in Lowell and is the 89th largest credit union in the state of Massachusetts. It is also the 3,157th largest credit union in the nation. It was established in 1958 and as of June of 2020, it had grown to 7 employees and 2,878 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

Reviews (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



Health
B+
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
Employees7
Primary Regulator
Profit Margin
Return on Assets - YTD0.32%
Return on Equity - YTD3.15%
Annual Interest Income$442.00K
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$25.5MM$21.8MM
LoansQ2 2020vs Q2 2019$17.4MM$16.5MM
DepositsQ2 2020vs Q2 2019$22.0MM$17.9MM
Equity CapitalQ2 2020vs Q2 2019$2.5MM$2.3MM
Loan Loss AllowanceQ2 2020vs Q2 2019$43.00K$57.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$4.00K$30.00K
Real Estate OwnedQ2 2020vs Q2 2019$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
0.45%*$100k*-Super Saver Account
OTHER TIERS: 0.15% $2.5k - $10k | 0.25% $10k - $25k | 0.35% $25k - $50k | 0.40% $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
1.29%$200-60 Month Kid's Club CD
1.24%$200-48 - 59 Month Kid's Club CD
1.09%$200-36 - 47 Month Kid's Club CD
1.00%$500-60 Month CD
0.89%$200-24 - 35 Month Kid's Club CD
0.80%$500-48 Month CD
0.75%$500-36 Month CD
0.65%$500-24 Month CD
0.60%$500-12 Month CD
0.55%$200-12 - 23 Month Kid's Club CD
0.35%$200-6 - 11 Month Kid's Club CD
0.30%$500-6 Month CD

Mills42 Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$500-60 Month IRA
0.80%$500-48 Month IRA
0.75%$500-36 Month IRA
0.65%$500-24 Month IRA
0.60%$500-12 Month IRA
0.30%$500-6 Month IRA
Locations


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

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