Mass. Institute Of Tech. Federal Credit Union

Social
  • +1

A short history of Mass. Institute Of Tech. FCU

Since its inception in 1940 the Mass. Institute Of Tech. Federal Credit Union has been serving its members in the CAMBRIDGE, Massachusetts area with exceptional financial products. You can find their current interest rates on used car loans, new car loans, 1st mortgage loans and interest rates on both fixed and adjustable mortgages here on these pages. Currently led by Brian Ducharme, the Mass. Institute Of Tech. FCU has grown its membership to over 35,424 with assets of more than $541,792,781. They have a main office and 3 branch offices. Please see the credit unions website or contact them by phone at (617) 253-2845 or email them at mitfcu@mit.edu to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in CAMBRIDGE, MA.

General Information For Mass. Institute Of Tech. FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 3830
Address 700 TECHNOLOGY SQ 
City CAMBRIDGE 
State Massachusetts 
Zip-Code 02139
Phone Number (617) 253-2845
Fax Number (617) 258-5709
Email Address: mitfcu@mit.edu
CEO/President Brian Ducharme
Members 35,424 
Full-Time Employees 87 
Part-Time Employees
Number of Branch Offices
Total Assets 541,792,781 
Website http://www.mitfcu.org 

Compare Mass. Institute Of Tech. Federal Credit Union To Other Local Credit Unions


Credit Union Name
Branch Name
Address
Zip Code
Phone Number
ATM Access
Distance (Miles)
Cambridge Municipal Employees CU Compusource Systems, Inc. 110 John Muir Dr 14228 (800) 295-9100 No 0.33
Cambridge Teachers CU Cambridge Teachers FCU 20 Felton St 02138 (617) 492-3212 No 0.91
Harvard University Employees CU Charlestown Navy Yard 149 13th St 02138 (617) 643-9655 No 1.17
Naveo CU Cambridge 251 Hampshire St 02139 (617) 714-6565 No 1.28
Somerville School Employees CU Main office 100 Highland Ave 02144 (617) 625-8411 No 1.56

Mass. Institute Of Tech. Federal Credit Union Financial Performance Charts


Performance Charts

Website Image

Financial Data


Mass. Institute Of Tech. Federal Credit Union Lowest Loan Rates With State and USA Rankings

Unsecured Credit Card New Car Loans Used Car Loans 1st Mortgage Loans Other Real Estate
Rate 9.74 2.49 2.49 3.13 4.00
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions 226 83 51 37 100
Rank Among All Massachusetts Credit Unions 10 25 7 4 19

Mass. Institute Of Tech. Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate N/A 0.05 0.10 0.45 0.25
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions N/A 143 134 274 266
Rank Among All Massachusetts Credit Unions N/A 21 28 53 51
Mass. Institute Of Tech. Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 9.74014,90218,171,585
All Other Unsecured Loans/Lines of Credit 6.2402,94417,310,201
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 5.0001,831106,005,130
New Vehicle Loans 2.4901,08218,768,467
Used Vehicle Loans 2.4901,87220,484,177
Total 1st Mortgage Real Estate Loans/Lines of Credit 3.130818237,857,856
Total Other Real Estate Loans/Lines of Credit 4.0001,31065,336,783
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 5.000702,302,922
TOTAL LOANS & LEASES 24,829486,237,121

Mass. Institute Of Tech. Federal Credit Union Real Estate Loans and Lines of Credit

REAL STATE LOANS FIRST MORTGAGE

No. of Loans Outstanding Amt of Loans Outstanding No. of Loans Granted Year- to-Date Amount Granted Year-To-Date
Fixed Rate
    a. > 15 years 12532,750,351319,545,350
    b. 15 Years or less 29557,935,773389,578,700
Balloon/Hybrid
    a. > 15 years 15364,510,7745227,861,900
    b. 15 Years or less 24582,660,9582611,461,100
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 0000

OTHER REAL ESTATE

Closed-End Fixed Rate 77444,605,06810210,828,196
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 53620,731,7157610,165,024
Open-End Fixed Rate 0000
TOTALS 2,128303,194,63932579,440,270

MISCELLANEOUS REAL ESTATE LOANS/LINES OF CREDIT INFORMATION

Interest Only & Payment Option 1st Mortgage Loans 000
Interest Only & Payment Option Other RE/LOC Loans 14204,4610
REVERSE MORTGAGES
    a. Federally Insured Home Equity Conversion Mortgage (HECM) 0000
    b. Proprietary Reverse Mortgage Products 0000

Mass. Institute Of Tech. Federal Credit Union Member Offerings
First Time Homebuyer Program Yes
Real Estate Loans Yes
Pay Day Lending No
Share Secured Credit Cards Yes
Overdraft Protection/Courtesy Pay Yes
Overdraft Lines of Credit Yes
ATM/Debit Card Program Yes
Interest Only and Payment Option 1st Mortgage Loans No
Check Cashing No
Money Orders No
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes