Best Massachusetts Credit Unions
Many Americans are looking for a banking alternative without the high fees and impersonal service, institutions with ties to their community. Credit unions are perfect places to have your cake and eat it too. They are cooperative financial institutions, meaning that the people investing their money in it are the ones who own and control it. They are also involved in their communities by encouraging development and having a concentrated membership base. Massachusetts has a plethora of credit unions to choose from, often with lower fees and rates than national banks. These are some of the best to get you started in your search.
Metro Credit Union
Eighty-five years old with 120,000 members, Metro Credit Union recently merged with University Credit Union to better serve a broader swath of customers. By combining forces they are more equipped to handle their growing clientele’s needs. Metro Credit Union offers free checking with no minimum balance and unlimited check writing. It also refunds ATM fees other banks charge, and has an impressive cash rewards program for its debit cards. Additionally, a regular savings account requires only five dollars to open, and comes with an ATM card for easy use. Customers rave about the helpful, polite service and 12 locations in eastern Massachusetts makes for easy access.
Harvard University Employees Credit Union
With such a prestigious name, you might think it would be difficult to join this credit union, but as long as you are an employee, student, or alumnus of Harvard University or its affiliates, or are family of someone who is, you are eligible to bank here. The minimum deposit to open an account is low and benefits include free online banking, free ATMs, and a variety of loan and account options. HUECU also has extremely competitive rates for auto and home loans.
MIT Federal Credit Union
With three types of checking, including a basic option that requires no minimum balance, you are bound to find an account at MITFCU that suits your needs. To join you must be an employee, alumnus or family member of the above at MIT or affiliated institutions. MITFCU also has a rewards program, exceptional online banking features, and fee-free savings plans. Private student loans are also offered to help bridge the gap between government aid and the costs of a Cambridge education.
Members Plus Credit Union
This credit union is open to employees, retirees, and family members of a variety of companies including RCN, Entergy and Exelon , as well as anyone who lives or works in Middlesex, Norfolk, Plymouth, and Suffolk counties, and their families. A basic checking account has no minimum balance, no monthly fees, free ATM use, and online banking. Members Plus also has many loans available with competitive rates and prides itself on customer service skills.
