Mills42 Federal Credit Union

Overview / Commentary
83 Merrimack St
Lowell, MA 01852

Mills42 Federal Credit Union is headquartered in Lowell and is the 86th largest credit union in the state of Massachusetts. It is also the 3,042nd largest credit union in the nation. It was established in 1958 and as of March of 2024, it had grown to 6 employees and 2,953 members at 1 location. Mills42 Federal Credit Union's CD rates are 5X 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

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..

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,

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

NCUA #12666
Year Chartered1958
Primary Regulator
Profit Margin
Return on Assets - YTD0.67%
Return on Equity - YTD5.81%
Annual Interest Income$393K
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$27.2MM$25.8MM
LoansQ1 2024vs Q1 2023$21.2MM$21.2MM
DepositsQ1 2024vs Q1 2023$23.4MM$21.9MM
Equity CapitalQ1 2024vs Q1 2023$3.1MM$3MM
Loan Loss AllowanceQ1 2024vs Q1 2023$74K$47K
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$36K$16K
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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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

2.75%$0-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

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

Mills42 Federal Credit Union CD Rates

5.15%$500-13 Month Share Special w/e-Statements
5.15%$500-6 Month CD w/e-Statements
4.90%$500-6 Month CD
4.90%$500-13 Month Share Certificate Special
4.75%$500-12 Month CD w/e-Statements
4.50%$500-12 Month CD
2.75%$500-24 Month CD w/e-Statements
2.50%$500-24 Month CD
2.50%$500-36 Month CD w/e-Statements
2.25%$500-36 Month CD
2.25%$500-48 Month CD w/e-Statements
2.00%$500-48 Month CD
2.00%$500-60 Month CD w/e-Statements
2.00%$200-60 Month Kid's Club Rate w/e-statements
1.75%$500-60 Month CD
1.75%$200-60 Month Kid's Club CD
1.75%$200-48 Month Kid's Club Rate w/e-statements
1.50%$200-48 Month Kid's Club Share Certificate
1.50%$200-36 Month Kid's Club Rate w/e-statements
1.25%$200-36 Month Kid's Club Share Certificate
1.25%$200-24 Month Kid's Club Rate w/e-statements
1.00%$200-24 Month Kid's Club Share Certificate
1.00%$200-12 Month Kid's Club Rate w/e-statements
0.75%$200-12 Month Kid's Club Share Certificate
0.50%$200-6 Month Kid's Club Rate w/e-statements
0.25%$200-6 Month Kid's Club Share Certificate

Mills42 Federal Credit Union IRA Rates

5.15%$500-6 Month IRA w/e-statements
4.90%$500-6 Month IRA
4.75%$500-12 Month IRA w/e-statements
4.50%$500-12 Month IRA
2.75%$500-24 Month IRA w/e-statements
2.50%$500-24 Month IRA
2.50%$500-36 Month IRA w/e-statements
2.25%$500-36 Month IRA
2.25%$500-48 Month IRA w/e-Statements
2.00%$500-48 Month IRA
2.00%$500-60 Month IRA w/e-Statements
1.75%$500-60 Month IRA

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

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