Northeast Credit Union is headquartered in Portsmouth and is the 2nd largest credit union in the state of New Hampshire. It is also the 251st largest credit union in the nation. It was established in 1936 and as of June of 2023, it had grown to 389 employees and 160,991 members at 19 locations. Northeast Credit Union's money market rates are 4X the national average, and it has a B+ health rating.
Field of Membership Restrictions
Membership in Northeast Credit Union is open to individuals who live, work, or attend school in the state of New Hampshire or in Cumberland County or York County in Maine. Membership is also open to those who live, work, or do business within a 30-mile radius of any of the Credit Union's branches. Family members of a current Northeast Credit Union member also qualify for membership.
See current membership details
Great To Do Business With
My wife and I moved to New Hampshire a decade ago and were accustom to doing business with large banks. We decided to open an account at Northeast Credit Union and couldn't be happier. Setting up an account was easy and NECU's no fee policy for conducting everyday business has saved us lots of money. They have top notch customer service in the branches and in the Porstmouth, home office location. We highly recommend them if you're looking for a friendly local bank.
Innovative Mortgage Lending
We have a savings and checking account with Northeast Credit Union. Their fees are very low or no fee and their website is very easy to navigate. I am able to transfer money in and out of accounts and pay bills all online. This makes banking with them extremely convenient. We actually use their checking account in coordination with another checking account that we have and easily manage to transfer money between accounts and pay the bills that we want to from each account.
Nickel And Dime
I've been long time member but all of a sudden they nickel and dime you with new fees: $5 quarterly account "INACTIVITY FEE" and $2 "PAPER STATEMENT FEE". These are nothing but irritants. Apparently if you have a long-term CD, which implies account inactivity, you will get hit. In the universe of Bank and Credit Unions, I will certainly look for business elsewhere!
I was not impressed.
I initially chose to go with Northeast Credit Union as a second bank due to a family member speaking highly of it. Right away, I was not impressed. First, I signed up for both a checking and a savings account. They only opened a savings account for me. Then, they sent me SOMEONE ELSE'S account information (checking and savings account numbers), which is a huge breach of security. I called to set up my savings account, and when I gave them the numbers, they told me it was not my account. It wasn't my family member's account either, so I had the information of some other member's account which is not good at all. They are very quick to charge you fees, and the customer service is not that great. They did remove one fee for me because I told them the ordeal with how they sent me someone else's information, so I'm sure they were scared about me going to someone about it, which I probably will still do. I would never recommend this bank.
Data as of Q2 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 68219 |
| Year Chartered | 1936 |
| Employees | 389 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.84% |
| Return on Equity - YTD | 8.83% |
| Annual Interest Income | $37.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2023vs Q2 2022 | $1.89B$2.01B |
| Loans | Q2 2023vs Q2 2022 | $1.57B$1.40B |
| Deposits | Q2 2023vs Q2 2022 | $1.61B$1.76B |
| Equity Capital | Q2 2023vs Q2 2022 | $179.0MM$164.5MM |
| Loan Loss Allowance | Q2 2023vs Q2 2022 | $9.2MM$8.0MM |
| Unbacked Noncurrent Loans | Q2 2023vs Q2 2022 | $2.2MM$1.5MM |
| Real Estate Owned | Q2 2023vs Q2 2022 | $0$0 |
