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Somerset Federal Credit Union


Overview / Commentary
www.somersetfcu.com
508-678-2851
740 County Street
Somerset, MA 02726

Somerset Federal Credit Union is headquartered in Somerset and is the 43rd largest credit union in the state of Massachusetts. It is also the 1,232nd largest credit union in the nation. It was established in 1936 and as of December of 2021, it had grown to 28 employees and 11,079 members at 1 location. Somerset Federal Credit Union has an A health rating.

Field of Membership Restrictions

Membership is open to those who live or work in Bristol County and their immediate family.
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Health
A

Data as of Q4 2021

Learn why bank health matters

Health Grade Components

Overall
NCUA #24239
Year Chartered1936
Employees28
Primary Regulator
Profit Margin
Return on Assets - YTD0.33%
Return on Equity - YTD2.96%
Annual Interest Income$4.6MM
Assets and Liabilities
AssetsQ4 2021vs Q4 2020$202.5MM$177.7MM
LoansQ4 2021vs Q4 2020$106.1MM$99.0MM
DepositsQ4 2021vs Q4 2020$176.5MM$150.3MM
Equity CapitalQ4 2021vs Q4 2020$22.4MM$23.3MM
Loan Loss AllowanceQ4 2021vs Q4 2020$162.00K$129.00K
Unbacked Noncurrent LoansQ4 2021vs Q4 2020$1.0MM$435.00K
Real Estate OwnedQ4 2021vs Q4 2020$230.00K$230.00K
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Somerset Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*-$100kKasasa Saver
OTHER TIERS: 0.15% → $100k+
0.10%$10-Statement Savings
0.05%$10-Christmas Club Account

Somerset Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.15%$1k-Statement Money Market

Somerset Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*-$10kKasasa Cash Checking
OTHER TIERS: 0.15% → $10k+
0.05%$500-Free Checking

Somerset Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$1k-60 Month Term Share Certificate
0.80%$1k-48 Month Term Share Certificate
0.70%$1k-36 Month Term Share Certificate
0.55%$1k-24 Month Term Share Certificate
0.45%$1k-12 Month Term Share Certificate
0.25%$1k-6 Month Term Share Certificate
Locations


Somerset Federal Credit Union Locations
Branch Office740 County StSomerset, MA 02726

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