Workers Credit Union


Overview / Commentary
978-345-1021
815 Main St
Fitchburg, MA 01420

Workers Credit Union is headquartered in Fitchburg and is the 4th largest credit union in the state of Massachusetts. It is also the 175th largest credit union in the nation. It was established in 1914 and as of June of 2020, it had grown to 331 employees and 106,974 members at 17 locations. Workers Credit Union's savings rates are 8X the national average, and it has a B+ health rating.

Field of Membership Restrictions

Membership in Workers Credit Union is open to those who live, work, or worship anywhere in the state of Massachusetts.
See current membership details

Reviews (4)

Look No Further For A Great Credit Union!

I've had a good experience with WCU for several years. Customer service representatives are knowledgeable and if they can't help you directly, they will see that direct you to someone who can help you. They offer competitive interest rates, and their online banking is pretty easy to use. Depositing checks via smartphone is a nice feature, though at times it can be difficult to picture the check just right, but this isn't enough for me to take off a star for web/mobile rating.

Help When You Need It

I've been a member of this credit union for a little over 10 years. I chose them when I decided to open my first bank account because they didn't have any minimum balance requirements or monthly maintenance charges. The one fee that I did come across was an ATM fee if you used your card at a different bank's ATM more than five times per month. Also, you had to have a savings account set up with a minimum balance for $25.
This bank has an overdraft policy that allows its members to overdraft their checking account for a fee of $30. When my husband lost his job, I found myself using this feature to cover necessary purchases between my bi-weekly paychecks. A short while later, I also lost my full-time position and ended up with only a part-time position. My bank account ended up being over-drafted for more than 30 days and the bank was just going to close my account. Instead, I went into my local branch and spoke to one of the tellers about my options. Even though I was extremely embarrassed about the situation, the woman I spoke with did not make me feel ashamed or stupid for letting this happen. She took the time to explain to me about their Fresh Start program that brings your bank balance back to zero, keeps your bank account open and functioning, and allows you to pay off the amount of money that was negative in small weekly installments. I decided that this program was my best option, and the woman helped me fill out all the paperwork. Before I left the bank that day I was all set up on the program, with one less thing to worry about. This bank cares about its members and will try to do its best to help you out if you need it.

Dissapointed

Posted by: |

Extremely Disappointed with WCU procedures/protocol.

I received a letter in the mail about my account inactivity/dormancy, and informed that I will be charged a monthly fee if not reactivated.

Directed to either contact in person or over the phone.

After my third attempt to call during a stay at home advisory mandated by the state, I finally reached a representative.

Without knowing my account number (not available on my paper statements provided by WCU) I proceeded to provide the representative; my name, social security number, date of birth, address, phone number and billing date.

Once the representative confirmed I was the account holder, I assume the account was "reactivated"? *Was not confirmed over the phone

I then asked for my account number (so I would not have to provide my SS number over the phone again) and the response I received was surprisingly "no".

I find it odd and baffling that WCU informs their customers, via mail, they intend to withdraw funds of a personal account, monthly.
Then WCU directs the customer to call a phone number that is not set-up and/or staffed appropriately where several calls are dropped.

Overall, where method(s) of communication are approved for WCU to take property of their customers; these same method(s) are not approved for
the customers of WCU to obtain information of their property.

Home Of The Takeaway Program

Worst credit union. Try dcu or athol savings or St marys. Just aask me why



Health
B+

Health Grade Components

Overall
NCUA #66479
Year Chartered1914
Employees331
Primary Regulator
Profit Margin
Return on Assets - YTD0.38%
Return on Equity - YTD3.53%
Annual Interest Income$33.9MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$1.95B$1.82B
LoansQ2 2020vs Q2 2019$1.32B$1.33B
DepositsQ2 2020vs Q2 2019$1.32B$1.17B
Equity CapitalQ2 2020vs Q2 2019$206.1MM$192.7MM
Loan Loss AllowanceQ2 2020vs Q2 2019$4.1MM$4.0MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$14.5MM$5.0MM
Real Estate OwnedQ2 2020vs Q2 2019$9.4MM$0
Rates
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Always verify rates and promotions with the bank or credit union. We are not Workers 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.

Workers Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.32%*-$1kSaveUp Savings
OTHER TIERS: 0.08% $1k - $2k | 0.13% $2k - $3k | 0.17% $3k - $5k | 0.25% $5k - $7k | 0.34% $7k - $10k | 0.55% $10k - $13k | 0.80% $13k - $17k | 1.02% $17k - $21k | 1.10% $21k - $25k | 1.19% $25k - $30k | 1.27% $30k - $40k | 1.29% $40k - $50k | 1.31% $50k - $75k | 1.33% $75k - $100k | 1.35% $100k - $250k | 1.36% $250k - $1m | 1.38% $1m+
4.32%*-$1kBusiness SaveUp Savings
OTHER TIERS: 0.08% $1k - $2k | 0.13% $2k - $3k | 0.17% $3k - $5k | 0.25% $5k - $7k | 0.34% $7k - $10k | 0.55% $10k - $13k | 0.80% $13k - $17k | 1.02% $17k - $21k | 1.10% $21k - $25k | 1.19% $25k - $30k | 1.27% $30k - $40k | 1.29% $40k - $50k | 1.31% $50k - $75k | 1.33% $75k - $100k | 1.35% $100k - $250k | 1.36% $250k - $1m | 1.38% $1m+
0.55%$25-Student Savings
0.50%$50-cuSave - Online Savings
0.20%*$50k*-Business Premium Savings
OTHER TIERS: 0.05% $50 - $1k | 0.15% $1k - $50k
0.10%$5-Holiday Club
0.10%$5-Vacation Club
0.05%$50-Statement Savings
0.05%$50-IRA Savings Account
0.05%$50-Business Statement Savings

Workers Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$50k*-Business Money Market Account (statement)
OTHER TIERS: 0.40% $50 - $10k | 0.50% $10k - $50k
0.60%*$100k*-Workers Money Market Checking
OTHER TIERS: 0.40% $50 - $25k | 0.50% $25k - $100k
0.20%*$50k*-Personal Money Market Account (statement)
OTHER TIERS: 0.05% $50 - $10k | 0.10% $10k - $50k

Workers Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.26%*-$15kHigh Interest Checking
OTHER TIERS: 0.40% $15k+
0.05%$25-Business Checking

Workers Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.06%*$25k*-60 Month Member Relationship CD
OTHER TIERS: 1.01% $500 - $25k
0.95%*$25k*-48 Month Member Relationship CD
OTHER TIERS: 0.90% $500 - $25k
0.85%*$25k*-36 Month Member Relationship CD
OTHER TIERS: 0.80% $500 - $25k
0.75%*$25k*-18 Month Member Relationship CD
OTHER TIERS: 0.70% $500 - $25k
0.75%*$25k*-24 Month Member Relationship CD
OTHER TIERS: 0.70% $500 - $25k
0.55%*$25k*-6 Month Member Relationship CD
OTHER TIERS: 0.50% $500 - $25k
0.55%*$25k*-12 Month Member Relationship CD
OTHER TIERS: 0.50% $500 - $25k
0.25%*$25k*-3 Month Member Relationship CD
OTHER TIERS: 0.20% $500 - $25k

Workers Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.01%*$1k*$25k60 Month Member Relationship IRA
OTHER TIERS: 0.00% $25k+
0.95%*$25k*-48 Month Member Relationship IRA
OTHER TIERS: 0.90% $1k - $25k
0.85%*$25k*-36 Month Member Relationship IRA
OTHER TIERS: 0.80% $1k - $25k
0.75%*$25k*-18 Month Member Relationship IRA
OTHER TIERS: 0.70% $1k - $25k
0.75%*$25k*-24 Month Member Relationship IRA
OTHER TIERS: 0.70% $1k - $25k
0.55%*$25k*-6 Month Member Relationship IRA
OTHER TIERS: 0.50% $1k - $25k
0.55%*$25k*-12 Month Member Relationship IRA
OTHER TIERS: 0.50% $1k - $25k
Locations

Availability

Boston Area

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