Somerville Municipal Federal Credit Union

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A short history of Somerville Municipal FCU

Since its inception in 1941 the Somerville Municipal Federal Credit Union has been serving its members in the SOMERVILLE, 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 Roland Draper, the Somerville Municipal FCU has grown its membership to over 2,486 with assets of more than $42,415,615. They have a main office and 1 branch offices. Please see the credit unions website or contact them by phone at (617) 625-0898 or email them at smfcu@earthlink.net to get exact details . There are many other credit unions in the local area. See them all here. Credit Unions in SOMERVILLE, MA.

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

Charter Number 4524
Address 236 HOLLAND ST 
City SOMERVILLE 
State Massachusetts 
Zip-Code 02144
Phone Number (617) 625-0898
Fax Number (617) 625-0364
Email Address: smfcu@earthlink.net
CEO/President Roland Draper
Members 2,486 
Full-Time Employees
Part-Time Employees
Number of Branch Offices
Total Assets 42,415,615 
Website http://www.sommfcu.com 

Compare Somerville Municipal Federal Credit Union To Other Local Credit Unions


Credit Union Name
Branch Name
Address
Zip Code
Phone Number
ATM Access
Distance (Miles)
New England Teamsters CU Home Office 23 Broadway 02474 (781) 641-6700 No 0.88
Health Alliance CU Health Alliance Federal Credit Union 230 Highland Ave 02143 (617) 591-6709 No 1.09
Members Plus CU Norwwod 111 LENOX ST STE 111 02062 (781) 702-5969 No 1.22
Medford Municipal Employees CU CUSA 4897 W LAKE PARK BLVD STE 200 4897 W LAKE PARK BLVD 84120 (800) 756-2872 No 1.35
Cambridge Firefighters CU Main 113 Garden St 02138 (617) 864-2298 No 1.35

Somerville Municipal Federal Credit Union Financial Performance Charts


Performance Charts

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Financial Data


Somerville Municipal 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 3.18 4.02 3.63 3.45
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 164 206 86 51
Rank Among All Massachusetts Credit Unions N/A 46 46 16 6

Somerville Municipal 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 0.15 0.85 1.25
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 143 124 198 125
Rank Among All Massachusetts Credit Unions N/A 21 27 37 16
Somerville Municipal 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 8.8802921,536,050
Short-Term, Small Amount Loans (STS) (Federal CU Only) 0.00000
Non-Federally Guaranteed Student Loans 6.270322663,814
New Vehicle Loans 3.18044838,944
Used Vehicle Loans 4.0201121,364,450
Total 1st Mortgage Real Estate Loans/Lines of Credit 3.6306412,139,003
Total Other Real Estate Loans/Lines of Credit 3.450713,584,272
Leases Receivable 0.00000
Total All Other Loans/Lines of Credit 2.55024272,642
TOTAL LOANS & LEASES 92920,399,175

Somerville Municipal 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 398,889,90700
    b. 15 Years or less 242,975,65900
Balloon/Hybrid
    a. > 15 years 0000
    b. 15 Years or less 0000
Other Fixed Rate 0000
Adjustable Rate 1 yr or less 0000
Adjustable Rate > 1 yr 1273,43700

OTHER REAL ESTATE

Closed-End Fixed Rate 0000
Closed-End Adjustable Rate 0000
Open-End Adjustable Rate 703,564,87600
Open-End Fixed Rate 119,39600
TOTALS 13515,723,27500

MISCELLANEOUS REAL ESTATE LOANS/LINES OF CREDIT INFORMATION

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

Somerville Municipal 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 No
Overdraft Lines of Credit Yes
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