Pioneer Valley Credit Union is headquartered in Springfield and is the 49th largest credit union in the state of Massachusetts. It is also the 1,446th largest credit union in the nation. It was established in 1923 and as of December of 2023, it had grown to 25 employees and 11,449 members at 5 locations. Pioneer Valley Credit Union's savings rates are 7X the national average, and it has an A health rating.
Field of Membership Restrictions
Pioneer Valley Credit Union is open to anyone living in Connecticut, Massachusetts, New Hampshire, New York, Rhode Island, and Vermont, by joining the Massachusetts Chapter of the American Consumer Council. Membership is also open to employees of Baystate Health, Springfield Division federal employees, and more than 25 other Select Employer Groups.
See current membership details
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5/10 - Pioneer Valley Credit Union Offers Competitive 60-Month CD
A Good Choice
I recently joined and opened two certificate accounts. The online part of the process was quick and efficient. I have only Experian frozen, so I didn't experience any credit reference issues. I mailed a check and they posted it within a day or two, so lack of ACH deposit was not an issue for me either. They told me I could push funds to them from another institution, but mailing a check seemed a whole lot easier. The two people I have spoken with have been very friendly and helpful. And I actually had an opportunity to visit their CU in person. It is small, but there were quite a few customers and employees there. I'll be depositing there again.
Very Good Financial Institution
I have been a member now for over 3 years. They have very good CD specials. Also I took an auto loan last year for my new truck because the rate was so low. This is a smaller credit union but the service is large. Very friendly and helpful staff in all departments I have been involved with so far. The online opening of a CD was a little confusing but when I called for help we worked through the process. I would recommend them over a brick and mortar bank and online bank for their period CD rate specials. I am a member of other credit unions but rate PVCU as superior.
Antiquated Security
I didn't pass the online identity verification because I had frozen my credit reports. They said I would have to come in to a branch to correct. I asked if I could just re-apply with my credit reports unfrozen. They said nope. So, if signing up online, make sure your credit reports are unfrozen.
Data as of Q4 2023
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 24443 |
| Year Chartered | 1923 |
| Employees | 25 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.53% |
| Return on Equity - YTD | 4.84% |
| Annual Interest Income | $7.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2023vs Q4 2022 | $155.7MM$147MM |
| Loans | Q4 2023vs Q4 2022 | $126.5MM$107.2MM |
| Deposits | Q4 2023vs Q4 2022 | $126.3MM$124.3MM |
| Equity Capital | Q4 2023vs Q4 2022 | $17.3MM$16.5MM |
| Loan Loss Allowance | Q4 2023vs Q4 2022 | $744K$680K |
| Unbacked Noncurrent Loans | Q4 2023vs Q4 2022 | $365K$166K |
| Real Estate Owned | Q4 2023vs Q4 2022 | $0$0 |