Overview / Commentary
Naveo Credit Union is headquartered in Somerville and is the 47th largest credit union in the state of Massachusetts. It is also the 1,390th largest credit union in the nation. It was established in 1928 and as of March of 2025, it had grown to 29 employees and 6,969 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, Massachusetts and the Essex County municipalities of Lynn, Lynnfield, Marblehead, Nahant, Peabody, Salem, Swampscott, and Saugus. Immediate family may also join.
See current membership details
Health
B+
Data as of Q1 2025
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68046 |
| Year Chartered | 1928 |
| Employees | 29 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.08% |
| Return on Equity - YTD | 1.51% |
| Annual Interest Income | $1.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q1 2025vs Q1 2024 | $172.8MM$175.1MM |
| Loans | Q1 2025vs Q1 2024 | $105.8MM$109.1MM |
| Deposits | Q1 2025vs Q1 2024 | $154.6MM$158.7MM |
| Equity Capital | Q1 2025vs Q1 2024 | $9.4MM$7.4MM |
| Loan Loss Allowance | Q1 2025vs Q1 2024 | $597K$612K |
| Unbacked Noncurrent Loans | Q1 2025vs Q1 2024 | $53K$22K |
| Real Estate Owned | Q1 2025vs Q1 2024 | $0$0 |