Credit union · NCUA insured
MIT Federal Credit Union
Top CarrotA $743M credit union headquartered in Lexington, MA, with 35,226 members and 4 branches in Massachusetts. Best rates: CDs 4.00% and savings 3.25% APY.
MIT Federal Credit Union Carrot Score
Carrot ScoreTop Carrot
Higher than 80% of U.S. banks and credit unions
#30 of 141 in Boston, MA-NH metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About MIT Federal Credit Union
Founded in 1940, MIT Federal Credit Union is a member-owned, not-for-profit financial institution.
The credit union is headquartered in Lexington, Massachusetts, where its corporate headquarters opened in 2019.
MIT FCU serves the MIT community, including employees, students, alumni, faculty, staff, and select businesses.
- Headquarters
- 70 Westview St, Lexington, MA 02421-3142
- NCUA charter
- 3830
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Open to anyone
- Anyone not qualifying through other groups can become a member by joining the American Consumer Council (ACC).
Employers and groups
- Employees of select Cambridge and Lexington businesses or partner associations are eligible for membership.
Military, government and schools
- Members of the MIT community, including employees, students, alumni, faculty, and staff, are eligible for membership.
Family and household
- Immediate family members (parents, siblings, children, grandparents, spouses), partners, roommates, and household members of eligible individuals can join.
Cost to join
- A savings share account with a minimum balance of $5.00 is required to establish and maintain membership.
Branches
4 branches in Massachusetts
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Massachusetts
4 branches
- Main OfficeMain office70 Westview St, Lexington, MA 02421Directions
- MIT FCU Tech Sq. Branch700 Technology Sq, Cambridge, MA 02139Directions
- MIT Student Center Branch84 Massachusetts Ave, Cambridge, MA 02139Directions
- MIT Lincoln Laboratory Branch244 Wood St # LINA-100, Lexington, MA 02421Directions
Walk-in offices from the NCUA directory as of March 31, 2026. Directions open Google Maps. A nearby branch doesn’t mean you can join or open an account.
Financial details
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 9.90% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 1.09% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 0.20% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $85 | $76 | — |
- CapitalNet worth ratio9.90%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late1.09%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets0.20%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$85Peers’ middle $76
Compared with the 1,338 credit unions with $100 million to $1 billion in assets. The strongest quarter is what the best 25% of them reach: more capital and profit, fewer troubled loans. Lending has no better end.Troubled loans are loans 60 or more days late.
Regulators’ own ratings of MIT Federal Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.