SCU Credit Union

Overview / Commentary
42 Pond Street
Sharon, MA 02067

SCU Credit Union is headquartered in Sharon and is the 10th largest credit union in the state of Massachusetts. It is also the 370th largest credit union in the nation. It was established in 1956 and as of September of 2022, it had grown to 152 employees and 81,859 members at 14 locations. SCU Credit Union has an A health rating.

Field of Membership Restrictions

SCU Credit Union is open to those who live, work, or go to school in Barnstable, Bristol, Duke, Middlesex, Nantucket, Norfolk, Plymouth, or Suffolk Counties and the Worcester County towns of Hopedale, Blackstone, Milford, Millville, Mendon, Northbridge, Southborough, Westborough, Upton, or Uxbridge in Massachusetts, as well as Bristol, Newport, and Providence Counties in Rhode Island. Family members of those eligible are also welcome to join.
See current membership details

Reviews (3)

Avoid C/S In Mansfield

Posted by: |

Terrible service at the drive thru - Mansfield - After 20 years of being a customer - paying off a car loan, paying on two home equity loans, today when I tried to deposit a $200 check which I can well cover out of my accounts, the teller who always gives me a hard time every time I go to that window (I expect it) tells me that I can't deposit the check without proving that it is my son's signature....really? So do you need a DNA sample to "deposit" not cash a check in which I have sufficient funds in my account to cover.

Overdraft Protection Services

Posted by: |

Be very careful with this institution when using their OPS services. Their practices are very beneficial for the institution but incredibly expensive to the consumer. When charging OPS fees ($30.00 per transaction), they use the following practices: 1) They will not recognize any deposits held for "clearance". Up to two full days. Even though the deposit check has cleared according to the issuing bank, they will not apply the funds to your account until their standard hold period. If you are close to a negative balance prior to the deposit, they will charge OPS fees on every single transaction until the end of the hold period. A cup of coffe paid with your debit card could cost you and extra $30! 2) They remove funds associated with "pending" transactions even though the institution isuing the pending transaction has not actually withdrawn the funds. This can lead to doubling or tripling your fees on the associated transactions.

Example: Saturday you have $200.00 in your account but there are 3 pending transactions: 1 each for $25.00. You then go out and spend $150.00 for dinner thinking you have a buffer of $50 or so until you get to the bank on Monday to make a deposit to create a better buffer. Pending transactions do not show on your on-line electronic statement. They are reflected on your available balance when they are communicated to your bank. The funds for the pending transactions have not been withdrawn by the institution issuing the pending transaction but Sharon Credit Union removes them from your "available" balance and charges you an OPS fee for the $150 (pending) transaction ($30). Then when the funds are actually transferred to the pending institution they charge you another $30 fee for each of the three $25 previously pending transactions. Once the first OPS fee is charged, you are down another $30 which burns the funds for one $25 pending transaction, etc. When you check your account on line Monday morning you are now out $120 simply because they remove the funds for pending transactions effectively twice. Once while pending (they remove them from your "available" balance) Then when the funds are actually withdrawn. Both situations qualify for OPS fees. Without this practice, even if you didn't get to the bank before the pending transactions were cleared, there would be only 1 OPS fee because the account never actually went negative until the last pending $25 transaction clears and the funds are actually removed from your account. And the $150 dinner was a pending transaction, too! Funds are actually still there.

This is the stuff that gets class action suits filed against banks.  


I Would Try Another Credit Union

Posted by: |

Have you ever been to there Mansfield or Sharon branches? I go out of my way to go to the one in Foxboro, as they are the only FRIENDLY people that work at this bank. You would think you're dealing with BoA when trying to talk to their tellers or other departments. Overdraft protection is one of the biggest bank scams, but Sharon Credit Union is the worse! They don't treat their customers any different whether you've been there 20 years or 1 day. When you walk into their branches, and they figure out who you are and get to looking at your account, they are very petty and tend to whisper about you while you're either right in front of them or as soon as you turn your back to walk out. VERY UNPROFESSIONAL group of people to deal with. The management is even WORSE. Maybe it's the way they treat their employees that makes them all so miserable. That is why I've moved my accounts out of Sharon Credit Union and to another credit union, and I'm much happier! To all you out there feeling the same way, move your accounts, don't be afraid, try another bank. I bet you'll notice a big difference!


Health Grade Components

NCUA #67836
Year Chartered1956
Primary Regulator
Profit Margin
Return on Assets - YTD0.62%
Return on Equity - YTD5.68%
Annual Interest Income$24.9MM
Assets and Liabilities
AssetsQ3 2022vs Q3 2021$1.21B$1.21B
LoansQ3 2022vs Q3 2021$797.7MM$786.3MM
DepositsQ3 2022vs Q3 2021$1.03B$1.03B
Equity CapitalQ3 2022vs Q3 2021$132.4MM$145.7MM
Loan Loss AllowanceQ3 2022vs Q3 2021$5.9MM$4.4MM
Unbacked Noncurrent LoansQ3 2022vs Q3 2021$4.0MM$3.5MM
Real Estate OwnedQ3 2022vs Q3 2021$0$0

Rates for SCU Credit Union are currently being reviewed.



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