Naveo Credit Union

Overview / Commentary
493 Somerville Ave
Somerville, MA 02143

Naveo Credit Union is headquartered in Somerville and is the 46th largest credit union in the state of Massachusetts. It is also the 1,364th largest credit union in the nation. It was established in 1928 and as of June of 2022, it had grown to 32 employees and 7,296 members at 2 locations. Naveo Credit Union has a B+ health rating.

Field of Membership Restrictions

Naveo Credit Union is open to those who live, work, or attend school in Suffolk and Middlesex counties, and the Essex County municipalities of Lynn, Lynnfield, Marblehead, Nahant, Peabody, Salem, Swampscott, and Saugus. Immediate family may also join.
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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 - YTD0.01%
Return on Equity - YTD0.27%
Annual Interest Income$2.3MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$175.2MM$170.2MM
LoansQ2 2022vs Q2 2021$85.9MM$88.1MM
DepositsQ2 2022vs Q2 2021$167.0MM$156.2MM
Equity CapitalQ2 2022vs Q2 2021$7.8MM$13.6MM
Loan Loss AllowanceQ2 2022vs Q2 2021$608.00K$585.00K
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$71.00K$5.00K
Real Estate OwnedQ2 2022vs Q2 2021$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

0.07%*$100k*-Tiered Money Market Checking
OTHER TIERS: 0.05% $25 - $50k | 0.06% $50k - $100k
0.07%*$100k*-Business Tiered Money Market Checking
OTHER TIERS: 0.05% $25 - $50k | 0.06% $50k - $100k

Naveo Credit Union Checking Account Rates

0.05%$25-Secure Checking

Naveo Credit Union CD Rates

2.12%$1k-20 Month CD Special
2.12%$1k-Business 20 Month CD Special
1.25%$1k-11 Month CD Special
1.25%$1k-Business 11 Month CD Special
1.00%$1k-60 Month CD Special
1.00%$1k-Business 60 Month CD Special
0.65%$1k-48 Month CD
0.65%$1k-Business 48 Month CD
0.60%$1k-36 Month CD
0.60%$1k-Business 36 Month CD
0.55%$1k-24 Month CD
0.55%$1k-Business 24 Month CD
0.45%$1k-14 Month CD
0.45%$1k-Business 14 Month CD
0.40%$1k-15 Month CD
0.40%$1k-18 Month CD
0.40%$1k-Business 18 Month CD
0.40%$1k-Business 15 Month CD
0.35%$1k-12 Month CD
0.35%$1k-13 Month CD
0.35%$1k-Business 13 Month CD
0.35%$1k-Business 12 Month CD
0.30%$1k-9 Month CD
0.30%$1k-Business 9 Month CD
0.25%$1k-8 Month CD
0.25%$1k-Business 8 Month CD
0.15%$1k-6 Month CD
0.15%$1k-Business 6 Month CD

Naveo Credit Union IRA Rates

2.12%$500-20 Month IRA Special
1.00%$500-60 Month IRA Special
0.65%$500-48 Month IRA
0.60%$500-36 Month IRA
0.55%$500-24 Month IRA
0.45%$500-14 Month IRA
0.40%$500-15 Month IRA
0.40%$500-18 Month IRA
0.35%$500-12 Month IRA
0.35%$500-13 Month IRA
0.30%$500-9 Month IRA
0.15%$500-6 Month IRA

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

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