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 367th largest credit union in the nation. It was established in 1956 and as of December of 2023, it had grown to 156 employees and 81,064 members at 14 locations. SCU Credit Union's money market rates are 7X the national average, and it 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associated with "pending" transactions even though the institution isuing the pending transaction has not actually withdrawn the funds.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 - YTD0.34%
Return on Equity - YTD2.84%
Annual Interest Income$41.9MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$1.25B$1.24B
LoansQ4 2023vs Q4 2022$873.4MM$823.3MM
DepositsQ4 2023vs Q4 2022$1.01B$1.02B
Equity CapitalQ4 2023vs Q4 2022$149.2MM$136.5MM
Loan Loss AllowanceQ4 2023vs Q4 2022$5MM$5.6MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$5.2MM$3.9MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not SCU 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.

SCU Credit Union Savings Account Rates

5.00%*$10$2.5kSCU Direct Savings Account
OTHER TIERS: 0.05% $250k+ | 1.00% $10k - $250k | 2.96% $2.5k - $10k
0.05%$5-IRA Share Account
0.01%$5-Share Account
0.01%$2-MyHoliday Savings Club
0.01%$1-MyVacation Savings Club
0.01%$5-Business Share Account

SCU Credit Union Money Market Rates

3.25%*$500k*-MyPremium Money Market
OTHER TIERS: 3.00% $50k - $500k
3.25%*$500k*-Business MyPremium Money Market
OTHER TIERS: 3.00% $50k - $500k
1.25%*$50k*-Money Market Account
OTHER TIERS: 0.03% $5 - $2.5k | 0.50% $2.5k - $50k
1.25%*$50k*-Business Money Market Account
OTHER TIERS: 0.03% $5 - $2.5k | 0.50% $2.5k - $50k

SCU Credit Union Checking Account Rates

0.10%*$100k*-MyBusiness Plus Checking
OTHER TIERS: 0.01% Up to $5k | 0.03% $5k - $50k | 0.05% $50k - $100k
0.10%$5-MyRelationship Checking
0.05%*$10k*-My Interest Checking
OTHER TIERS: 0.01% $5k - $10k

SCU Credit Union CD Rates

5.00%$500-7 Month CD - New Money
4.50%$500-15 Month CD Special
4.50%$500-Business 15 Month CD Special
4.25%$500-12 Month CD
4.25%$500-30 Month CD Special
4.25%$500-Business 12 Month CD
4.25%$500-9 Month CD Special
4.25%*$2.5k*-Business 9 Month CD Special
OTHER TIERS: 3.95% $500 - $2.5k
3.75%$500-6 Month CD
3.75%$500-18 Month CD
3.75%$500-Business 6 Month CD
3.75%$500-Business 18 Month CD
3.50%$500-Business 30 Month CD Special
3.30%$500-36 Month Step Up CD Year 1
3.30%$500-36 Month Step Up CD Year 2
3.30%$500-36 Month Step Up CD Year 3
3.30%$500-Business 36 Month Step Up CD Year 1
3.30%$500-Business 36 Month Step Up CD Year 2
3.30%$500-Business 36 Month Step Up CD Year 3
3.25%$500-24 Month CD
3.25%$500-Business 24 Month CD
3.00%$500-3 Month CD
3.00%$500-36 Month CD
3.00%$500-48 Month CD
3.00%$500-60 Month CD
3.00%$500-Business 3 Month CD
3.00%$500-Business 36 Month CD
3.00%$500-Business 48 Month CD
3.00%$500-Business 60 Month CD

SCU Credit Union IRA Rates

4.45%$250-15 Month IRA Special
4.20%$250-12 Month IRA
4.20%$250-30 Month IRA Special
4.20%$250-Business 12 Month IRA
4.20%$250-9 Month IRA Special
3.70%$250-18 Month IRA
3.70%$250-Business 18 Month IRA
3.25%$500-36 Month Step Up IRA Year 1
3.25%$500-36 Month Step Up IRA Year 2
3.25%$500-36 Month Step Up IRA Year 3
3.25%$500-Business 36 Month Step Up IRA Year 1
3.25%$500-Business 36 Month Step Up IRA Year 2
3.25%$500-Business 36 Month Step Up IRA Year 3
3.20%$250-24 Month IRA
3.20%$250-Business 24 Month IRA
2.95%$250-60 Month IRA
2.95%$250-36 Month IRA
2.95%$250-48 Month IRA
2.95%$250-Business 36 Month IRA
2.95%$250-Business 48 Month IRA
2.95%$250-Business 60 Month IRA


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