Somerset Federal Credit Union

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A short history of Somerset FCU

Since its inception in 1936 the Somerset Federal Credit Union has been serving its members in the Somerset, 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 Pamela Mello, the Somerset FCU has grown its membership to over 11,467 with assets of more than $142,639,584. They have a main office and 1 branch offices. Please see the credit unions website or contact them by phone at (508) 678-2851 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 Somerset, MA.

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

Charter Number 24239
Address 740 County Street 
City Somerset 
State Massachusetts 
Zip-Code 02726
Phone Number (508) 678-2851
Fax Number (508) 646-9903
Email Address:
CEO/President Pamela Mello
Members 11,467 
Full-Time Employees 28 
Part-Time Employees
Number of Branch Offices
Total Assets 142,639,584 

Compare Somerset Federal Credit Union To Other Local Credit Unions

Credit Union Name
Branch Name
Zip Code
Phone Number
ATM Access
Distance (Miles)
St. Michaels Fall River CU St. Michael's (Fall River) Federal Credit Union 60 Garside St 02720 (508) 674-3861 No 2.47
St. Anthony Of Padua CU St. Anthony of Padua FCU 806 Bedford St 02723 (508) 674-3019 No 4.05
Fall River Municipal CU Robeson Office 1110 Robeson St 02720 (508) 677-2501 No 4.05
Santo Christo CU New Bedford Credit Union 1150 Purchase St 02740 (508) 994-6546 No 4.06
St. Anne's Of Fall River CU President Ave 1675 President Ave 02720 (508) 324-7470 No 4.50

Somerset Federal Credit Union Financial Performance Charts

Performance Charts

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Financial Data

Somerset 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 N/A 2.00 2.71 4.21 4.03
Mean Rate For All USA Based Credit Unions 10.56 3.72 5.00 4.48 4.95
Rank Among All USA Credit Unions N/A 35 67 170 105
Rank Among All Massachusetts Credit Unions N/A 7 11 43 22

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

Checking Regular Savings Money Market Certificates of Deposits IRA/KEOGH
Rate 0.05 0.10 0.15 0.67 N/A
Mean Rate For All USA Based Credit Unions 0.19 0.26 0.29 0.73 0.66
Rank Among All USA Credit Unions 125 129 124 231 N/A
Rank Among All Massachusetts Credit Unions 10 19 27 45 N/A
Somerset Federal Credit Union Loans and Leases

Interest Rate Number of Loans Amount
Unsecured Credit Card Loans 0.00000
All Other Unsecured Loans/Lines of Credit 8.9806213,964,911
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 0.00000
New Vehicle Loans 2.000681,240,895
Used Vehicle Loans 2.7102452,686,691
Total 1st Mortgage Real Estate Loans/Lines of Credit 4.21056666,895,692
Total Other Real Estate Loans/Lines of Credit 4.0301584,555,942
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 4.36058262,988
TOTAL LOANS & LEASES 1,71679,607,119

Somerset 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 25141,711,19571,843,100
    b. 15 Years or less 25820,582,6077568,000
    a. > 15 years 273,370,0071232,600
    b. 15 Years or less 0000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 301,231,883358,321
Adjustable Rate > 1 yr 0000


Closed-End Fixed Rate 34826,6624130,800
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 1243,729,28018642,096
Open-End Fixed Rate 0000
TOTALS 72471,451,634403,474,917


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

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