Overview / Commentary
493 Somerville Ave
Somerville, MA 02143

Naveo Credit Union is headquartered in Somerville and is the 50th largest credit union in the state of Massachusetts. It is also the 1,374th largest credit union in the nation. It was established in 1928 and as of June of 2018, it had grown to 23 employees and 7,944 members at 2 locations. Naveo Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to those who live, attend school or work in Suffolk or Middlesex Counties and in the municipalities of Lynn, Peabody, Salem, Nahant, Saugus, Lynnfield, Swampscott, and Marblehead in Essex County.
See current membership details

Reviews (1)

Naveo Credit Union

I had a good experience here. It was the first place I opened a savings account about 15 years ago. The interest rates at the time were good. The name of the bank has changed. It used to be called Cambridge Portuguese Credit Union. Now it's Naveo Credit Union. The people that work there are very friendly and helpful. The lines can get pretty long on pay day. The loan rates were decent. They have two branches. One in Somerville Massachusetts and the other I believe is in Cambridge, MA. I've been to both. They were recently remodeled and look nice.


Health Grade Components

NCUA #68046
Year Chartered1928
Primary Regulator
Profit Margin
Return on Assets - YTD0.55%
Return on Equity - YTD7.21%
Annual Interest Income$2.2MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$130.4MM$125.4MM
LoansQ2 2018vs Q2 2017$87.6MM$76.7MM
DepositsQ2 2018vs Q2 2017$120.0MM$115.4MM
Equity CapitalQ2 2018vs Q2 2017$9.9MM$9.5MM
Loan Loss AllowanceQ2 2018vs Q2 2017$644.00K$564.00K
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$76.00K$51.00K
Real Estate OwnedQ2 2018vs Q2 2017$0$0
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Naveo Credit Union Savings Account Rates

0.20%$25-Business Savings
0.10%$25-Passbook Savings
0.10%$25-Statement Savings
0.10%$25-Christmas Club
0.10%$25-Kids Club

Naveo Credit Union Money Market Rates

0.35%*$100k*-Tiered Money Market Checking
OTHER TIERS: 0.20% $25 - $50k | 0.25% $50k - $100k
0.35%*$100k*-Business Tiered Money Market Checking
OTHER TIERS: 0.20% $25 - $50k | 0.25% $50k - $100k

Naveo Credit Union Checking Account Rates

0.05%$25-Secure Checking

Naveo Credit Union CD Rates

2.48%$1k-48 Month CD Special
2.48%$1k-Business 48 Month CD Special
2.17%$1k-20 Month CD Special
2.17%$1k-Business 20 Month CD Special
1.97%$1k-14 Month CD Special
1.97%$1k-Business 14 Month CD Special
1.77%$1k-11 Month CD Special
1.77%$1k-Business 11 Month CD Special
1.66%$1k-8 Month CD Special
1.66%$1k-Business 8 Month CD Special

Naveo Credit Union IRA Rates

2.48%$500-48 Month IRA Special
2.17%$500-20 Month IRA Special
1.97%$500-14 Month IRA Special

Naveo Credit Union Locations
Branch Office493 Somerville AveSomerville, MA 02143
Branch Office251 Hampshire StCambridge, MA 02139

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