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Westport Credit Union

Overview
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Westport Credit Union is a federal credit union based in Westport, Massachusetts. It has been opened since 1952, for 68 years.

With around $60,580,000 in assets, Westport Credit Union is considered to be a large credit union. It has 2 branches and 2 ATM locations.

About
Address P.O. Box 288
Westport, Massachusetts 02790
Website http://www.westport.org
Phone (508) 679-0197
Fax (508) 678-6605
CEO Joseph Schiappa
President of the Board William Baraby
Services Offered
Map
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Score Card
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68 years
Years in business
Opened in 1952
Adequately Capitalized
Net worth classification
Source: NCUA
6,763 members
Membership type: Community credit union
Above average number of members
483:1
Credit union member to staff ratio
483 per each FTE employee
Compared to 411:1 nationally
Fewer staff
$60,581,847
Total assets
Above average
2 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Above average number of branches
0.05%
Savings interest rate
Compared to 0.3% nationally
11.99%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
Branches
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2 branches
Compared with an average of 4 nationally and 3 in Massachusetts
Above average number of branches
Westport Credit Union Branch Locations

Westport Credit Union: Main Office
655 State Road
Westport, Massachusetts 02790
ATM Available
Westport Credit Union: Branch-Main Road
790 Main Road
Westport, Massachusetts 02790
ATM Available
Members
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6,763 members
Membership type: Community credit union
Above average number of members

With 6,763 members, the Westport Credit Union is considered to be a large credit union. It is larger than 63% of credit unions.

Fees
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$44
Average fee per member
The average fee per member at the Westport Credit Union is $44, which is comparable to most credit unions. This rate is lower than 53% of all credit unions.
Fees are 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 Westport Credit Union. Some credit unions tend to charge more fees, while others charge less.

Staff
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483:1
Credit union member to staff ratio
483 per each FTE employee
Compared to 411:1 nationally
Fewer staff
14 staff members
FTE (full-time equivalent)
13% of employees are part-time
13 full-time, 2 part-time

Westport Credit Union has 13 full-time staff members and 2 part-time staff members. The staff is predominantly comprised of full-time staff, at approximately 87% of the workforce.

The number of members relative to staff members is an indication of how well staffed the credit union is. Westport Credit Union has around 483 members per staff, a higher ratio compared to other credit unions.

Assets
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$60,581,847
Total assets
Above average
Net worth
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Adequately Capitalized
Net worth classification
Source: NCUA
An adequately capitalized credit union has a net worth ratio between 6% and 7% and also meets applicable risk-based net worth requirements, according to the National Credit Union Administration.
6.5%
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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$22,906
Average loan and lease size
Loan & lease sizes are big! They are bigger than at 94% of credit unions.

Westport Credit Union holds a total of $36,790,000 in loans and leases, which is about $22,906 per member on average.

Savings interest rate
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0.05%
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. Westport Credit Union pays 0.05%.

Loan rates
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11.99%
Unsecured credit card loan interest rate
Compared to 10.8% nationally
8.54%
Unsecured non-credit card loan interest rate
Compared to 11.2% nationally
5.09%
Other secured non-real estate loans and lines of credit interest rate
Compared to 5.3% nationally
Car loan rates
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3.60%
New car loan rate
Compared to 4.0% nationally
3.90%
Used car loan rate
Compared to 5.2% nationally
Mortgage rates
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4.52%
Mortgage rate (secured by junior lien)
Compared to 3.4% nationally
4.18%
Mortgage rate (secured by 1st lien)
Compared to 3.3% nationally
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