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Naveo Credit Union


Overview / Commentary
naveo.org
617-547-3144
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 1,330th largest credit union in the nation. It was established in 1928 and as of December of 2021, it had grown to 30 employees and 7,279 members at 2 locations. Naveo Credit Union has an A 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.
See current membership details

Reviews (1)

Naveo Credit Union

Posted by: |

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.

1


Health
A

Data as of Q4 2021

Learn why bank health matters

Health Grade Components

Overall
NCUA #68046
Year Chartered1928
Employees30
Primary Regulator
Profit Margin
Return on Assets - YTD0.25%
Return on Equity - YTD3.49%
Annual Interest Income$4.6MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$178.3MM$162.1MM
LoansQ4 2021vs Q4 2020$82.5MM$90.1MM
DepositsQ4 2021vs Q4 2020$164.9MM$147.7MM
Equity CapitalQ4 2021vs Q4 2020$12.8MM$13.7MM
Loan Loss AllowanceQ4 2021vs Q4 2020$576.00K$714.00K
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$133.00K$109.00K
Real Estate OwnedQ4 2021vs Q4 2020$0$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Naveo 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.

Naveo Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.05%$25-Secure Checking

Naveo Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%$1k-20 Month CD Special
1.51%$1k-Business 20 Month CD Special
1.00%$1k-60 Month CD Special
1.00%$1k-Business 60 Month CD Special
0.80%$1k-11 Month CD Special
0.80%$1k-Business 11 Month CD Special
0.65%$1k-48 Month CD
0.65%$1k-Business 48 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-36 Month CD
0.40%$1k-Business 18 Month CD
0.40%$1k-Business 36 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-3 Month CD
0.15%$1k-6 Month CD
0.15%$1k-Business 6 Month CD
0.15%$1k-Business 3 Month CD

Naveo Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.51%$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%$500-3 Month IRA
0.15%$500-6 Month IRA
Locations


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

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