Mills42 Federal Credit Union

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A short history of Mills42 FCU

Since its inception in 1958 the Mills42 Federal Credit Union has been serving its members in the LOWELL, 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 Carla Rasetta, the Mills42 FCU has grown its membership to over 2,606 with assets of more than $19,840,964. They have a main office and 2 branch offices. Please see the credit unions website or contact them by phone at (978) 328-5100 or email them at to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in LOWELL, MA.

General Information For Mills42 FCU was taken from their 6/30/2017 quarterly report, which is the most current available public information.

Charter Number 12666
Address 83 MERRIMACK ST 
State Massachusetts 
Zip-Code 01852
Phone Number (978) 328-5100
Fax Number (978) 458-8933
Email Address:
CEO/President Carla Rasetta
Members 2,606 
Full-Time Employees
Part-Time Employees
Number of Branch Offices
Total Assets 19,840,964 

Compare Mills42 Federal Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
Align CU Amesbury 19 Haverhill Rd 01852 (800) 942-9575 No 1.27
Lowell Firefighters CU Lowell Firefighters Credit Union 642 Chelmsford St 01851 (978) 453-2734 No 1.46
Lowell Municipal Employees CU City Hall 375 Merrimack St 01852 (978) 970-4088 No 1.52
Jeanne D'arc CU Dracut - Bridge 1595 Bridge St 01826 (978) 452-5001 No 1.75
Tewksbury CU Main Office 752 Main St 01876 (978) 851-9750 No 2.84

Mills42 Federal Credit Union Financial Performance Charts

Performance Charts

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Financial Data

Mills42 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 9.90 1.89 2.89 4.00 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 243 27 83 138 100
Rank Among All Massachusetts Credit Unions 12 3 17 35 19

Mills42 Federal Credit Union Highest Deposit Rates With State and USA Rankings

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate 0.29 0.10 0.49 1.24 0.61
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions 90 129 61 129 210
Rank Among All Massachusetts Credit Unions 3 19 12 18 41
Mills42 Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 9.900805970,712
All Other Unsecured Loans/Lines of Credit 12.9003591,486,316
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 1.890931,489,513
Used Vehicle Loans 2.8904444,541,990
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.000364,233,960
Total Other Real Estate Loans/Lines of Credit 4.000733,554,035
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 7.00049174,018
TOTAL LOANS & LEASES 1,85916,450,544

Mills42 Federal Credit Union Real Estate Loans and Lines of Credit


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 81,140,5472200,750
    b. 15 Years or less 242,355,789160,000
    a. > 15 years 0000
    b. 15 Years or less 0000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 1163,03300
Adjustable Rate > 1 yr 3574,59100


Closed-End Fixed Rate 12559,6233197,000
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 612,994,4126515,000
Open-End Fixed Rate 0000
TOTALS 1097,787,99512972,750


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

Mills42 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 Yes
No Surcharge ATMs Yes
Home Banking Via Internet Website Yes