Somerset Federal Credit Union

Overview / Commentary
740 County Street
Somerset, MA 02726

Somerset Federal Credit Union is headquartered in Somerset and is the 45th largest credit union in the state of Massachusetts. It is also the 1,264th largest credit union in the nation. It was established in 1936 and as of March of 2021, it had grown to 28 employees and 11,020 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.
See current membership details


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Health Grade Components

NCUA #24239
Year Chartered1936
Primary Regulator
Profit Margin
Return on Assets - YTD0.29%
Return on Equity - YTD2.38%
Annual Interest Income$1.1MM
Assets and Liabilities
AssetsQ1 2021vs Q1 2020$188.0MM$155.9MM
LoansQ1 2021vs Q1 2020$98.0MM$97.3MM
DepositsQ1 2021vs Q1 2020$162.0MM$129.4MM
Equity CapitalQ1 2021vs Q1 2020$22.5MM$22.6MM
Loan Loss AllowanceQ1 2021vs Q1 2020$132.00K$137.00K
Unbacked Noncurrent LoansQ1 2021vs Q1 2020$294.00K$980.00K
Real Estate OwnedQ1 2021vs Q1 2020$230.00K$230.00K
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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

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

0.15%$1k-Statement Money Market

Somerset Federal Credit Union Checking Account Rates

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

Somerset Federal Credit Union CD Rates

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

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

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