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Methuen Credit Union

Overview
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Methuen Credit Union is a federal credit union based in Methuen, Massachusetts. It has been opened since 1956, for 64 years.

With around $24,440,000 in assets, Methuen Credit Union is considered to be an average size credit union.

About
Address 248 Broadway
Methuen, Massachusetts 01844
Website http://methuencreditunion.com
Phone (978) 686-1471
Fax (978) 686-2627
CEO James M. Brouder
President of the Board Josephine Napolitano
Services Offered
Map
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Score Card
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64 years
Years in business
Opened in 1956
Well Capitalized
Net worth classification
Source: NCUA
2,440 members
Membership type: Community credit union
Below average number of members
407:1
Credit union member to staff ratio
407 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$24,437,592
Total assets
Average size
1 branch
Compared with an average of 4 nationally and 3 in Massachusetts
Average number of branches
0.15%
Savings interest rate
Compared to 0.3% nationally
8.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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1 branch
Compared with an average of 4 nationally and 3 in Massachusetts
Average number of branches
Methuen Credit Union Branch Locations

Methuen Federal Credit Union
248 Broadway
Methuen, Massachusetts 01844
No ATM
Members
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2,440 members
Membership type: Community credit union
Below average number of members

With 2,440 members, the Methuen Credit Union is considered to be a small credit union. It is smaller than 60% of credit unions.

Fees
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$30
Average fee per member
The average fee per member at the Methuen Credit Union is $30, which is low compared to most credit unions. This rate is lower than 65% of all credit unions.
Fees are lower than average

Credit unions, like banks, charge members various fees, such as overdraft fees, ATM fees, credit card fees, inactivity or dormat account fees, and more.

The average fee per member gives you a general sense of how much you might pay in fees as a member of the Methuen Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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407:1
Credit union member to staff ratio
407 per each FTE employee
Compared to 411:1 nationally
Fewer staff
6 staff members
FTE (full-time equivalent)
50% of employees are part-time
4 full-time, 4 part-time

Methuen Credit Union has 4 full-time staff members and 4 part-time staff members. The staff is comprised of part-time and full-time staff, with part-time staff approximately 50% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Methuen Credit Union has around 407 members per staff, a higher ratio compared to other credit unions.

Assets
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$24,437,592
Total assets
Average size
Net worth
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Well Capitalized
Net worth classification
Source: NCUA
A well capitalized credit union has a net worth ratio of 7% or greater and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
13.2%
Net worth ratio
A higher net worth ratio is better.
Compared to an average of 13.6% nationally

A credit union's net worth ratio is one of the most important metrics you should consider when deciding whether to join a credit union. Why? It's a measure of financial strength

The net worth ratio is equal to a credit union's net worth divided by its assets. According to the National Credit Union Administration, a minimum net worth ratio of 7% is required to be considered to be a well capitalized credit union.

Loans & leases
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$6,413
Average loan and lease size
Loan & lease sizes are very small. They are smaller than at 82% of credit unions.

Methuen Credit Union holds a total of $13,590,000 in loans and leases, which is about $6,413 per member on average.

Savings interest rate
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0.15%
Savings interest rate
Compared to 0.3% nationally

A credit union share account is an account at a credit union. It's called a share account because the credit union is member owned and as a result, members own shares in the credit union.

A share savings account pays you interest on your savings, similar to a savings account at a bank. The interest you receive can vary. Methuen Credit Union pays 0.15%.

Loan rates
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8.00%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
6.44%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
Car loan rates
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3.15%
New car loan rate
Compared to 4.0% nationally
3.08%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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5.33%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
3.69%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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Assets
Net Worth Classification
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Average Fee
Credit Card Loan Interest Rate
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