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Wellesley Municipal Employees Credit Union

Overview
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Wellesley Municipal Employees Credit Union is a federal credit union based in Wellesley, Massachusetts. It has been opened since 1955, for 65 years.

With around $28,700,000 in assets, Wellesley Municipal Employees Credit Union is considered to be an average size credit union.

About
Address 1 Hollis Street Suite 105
Wellesley, Massachusetts 02482
Website http://www.wellesleymunefcu.com
Phone (781) 235-0503
Fax (781) 431-0733
CEO Doreen M. Peterson
President of the Board Thomas D'Orazio
Services Offered
Map
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Score Card
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65 years
Years in business
Opened in 1955
Well Capitalized
Net worth classification
Source: NCUA
1,868 members
Membership type: Multiple common bond – primary federal, state, local government
Below average number of members
467:1
Credit union member to staff ratio
467 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$28,695,932
Total assets
Average size
0 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Average number of branches
0.10%
Savings interest rate
Compared to 0.3% nationally
12.50%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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0 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Average number of branches
Wellesley Municipal Employees Credit Union Branch Locations

Wellesley Municipal Employees Federal Credit Union
1 Hollis Street Suite 105
Wellesley, Massachusetts 02482
No ATM
Members
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1,868 members
Membership type: Multiple common bond – primary federal, state, local government
Below average number of members

With 1,868 members, the Wellesley Municipal Employees Credit Union is considered to be a small credit union. It is smaller than 67% of credit unions.

Fees
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$6
Average fee per member
The average fee per member at the Wellesley Municipal Employees Credit Union is $6, which is very low compared to most credit unions. This rate is lower than 87% 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 Wellesley Municipal Employees Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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467:1
Credit union member to staff ratio
467 per each FTE employee
Compared to 411:1 nationally
Fewer staff
4 staff members
FTE (full-time equivalent)
0% of employees are part-time
4 full-time, 0 part-time

Wellesley Municipal Employees Credit Union has 4 full-time staff members and 0 part-time staff members.

The number of members relative to staff members is an indication of how well staffed the credit union is. Wellesley Municipal Employees Credit Union has around 467 members per staff, a higher ratio compared to other credit unions.

Assets
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$28,695,932
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.
11.0%
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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$13,184
Average loan and lease size
Loan & lease sizes are bigger than average. They are bigger than at 71% of credit unions.

Wellesley Municipal Employees Credit Union holds a total of $10,960,000 in loans and leases, which is about $13,184 per member on average.

Savings interest rate
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0.10%
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. Wellesley Municipal Employees Credit Union pays 0.10%.

Loan rates
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12.50%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
12.90%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
3.00%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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2.99%
New car loan rate
Compared to 4.0% nationally
3.99%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.50%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
5.00%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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Average Fee
Credit Card Loan Interest Rate
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