Merrimack Valley Credit Union
Locations in Boston:
1
Summary
Merrimack Valley Credit Union (MVCU) is one of the top credit unions in Boston when it comes to assets under management (over $2 billion) and membership (over 100,000).
What We Love...
Has an interest earning checking account.
Offers a Back-To-School Club account -- even though the rates are low, we think that's unique.
What We Don't...
Large minimum for decent CD rate.
Large minimum for high yield savings.
Too many requirements for simple rewards. For example, 3% debit card cash back has a cap and interest earning checking account requires direct deposit, ACH credit, or ACH transaction.
Rates
Below are the rates we think you should know:
CD | Savings | Checking |
|---|---|---|
4.80% | 0.10% - 3.00% | 0.02% - 1.00% |
Cash Bonus?
Unknown
Abandonment Fee?
Last Updated: November 15, 2024
Research Fee?
$20 per hour, with 1 hour minimum.
History
Communications Workers Employee Credit Union was founded in 1955 to serve a Union Local in Andover, MA. The same year, they adopted their current name MVCU which is short for Merrimack Valley Credit Union. After only 7 short years, MVCU reached over 1 million in assets. Over the years they expanded to locations in Rhode Island, New Hampshire, and Massachusetts. One of their most recent expansions is when RTN Federal Credit Union and MVCU merged on June 1, 2023.