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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 45th largest credit union in the state of Massachusetts. It is also the 1,280th largest credit union in the nation. It was established in 1936 and as of June of 2020, it had grown to 30 employees and 11,078 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
A

Data as of Q2 2020

Learn why bank health matters

Health Grade Components

Overall
NCUA #24239
Year Chartered1936
Employees30
Primary Regulator
Profit Margin
Return on Assets - YTD0.32%
Return on Equity - YTD2.24%
Annual Interest Income$2.6MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$167.4MM$151.4MM
LoansQ2 2020vs Q2 2019$97.9MM$85.9MM
DepositsQ2 2020vs Q2 2019$140.2MM$129.6MM
Equity CapitalQ2 2020vs Q2 2019$23.1MM$21.4MM
Loan Loss AllowanceQ2 2020vs Q2 2019$139.00K$124.00K
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$1.4MM$900.00K
Real Estate OwnedQ2 2020vs Q2 2019$230.00K$0
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
1.41%$1k-60 Month Term Share Certificate
1.21%$1k-48 Month Term Share Certificate
1.01%$1k-36 Month Term Share Certificate
0.75%$1k-24 Month Term Share Certificate
0.50%$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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