Credit union · NCUA insured
Naveo Credit Union
A $174.6M credit union headquartered in Somerville, MA, with 6,681 members and 2 branches in Massachusetts. Best rates: CDs 3.85% and savings 0.50% APY.
Naveo Credit Union Carrot Score
68
Carrot Score
Higher than 21% of U.S. banks and credit unions
#104 of 141 in Boston, MA-NH metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Naveo Credit Union
Naveo Credit Union was incorporated in 1928 by twenty-seven Portuguese-Americans as Cambridge Portuguese Credit Union before changing its name to Naveo Credit Union in 2014.
It was founded as a place where the community could deposit savings with confidence and borrow money at low rates of interest.
- Headquarters
- 493 Somerville Ave, Somerville, MA 02143
- NCUA charter
- 68046
Membership
Who can join
This may be incomplete or out of date, so check with the credit union before you apply.
Where you live or work
- Open to anyone who lives, works, or goes to school in Middlesex and Suffolk Counties and the municipalities of Peabody, Lynn, Salem, Nahant, Lynnfield, Saugus, Swampscott, and Marblehead in Essex County within the Commonwealth of Massachusetts.
Family and household
- Open to immediate family members of individuals eligible through the geographic criteria in Massachusetts.
Other ways
- Open to organizations of Naveo members.
Cost to join
- Opening a savings account with a $5 deposit is required to become a member.
Branches
2 branches in Massachusetts
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Massachusetts
2 branches
- SomervilleMain office493 Somerville Ave, Somerville, MA 02143Directions
- Cambridge251 Hampshire St, Cambridge, MA 02139Directions
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
Well capitalizedas reported to the NCUA
| Measure | This credit union | Peers’ middle | Strongest quarter |
|---|---|---|---|
| CapitalNet worth ratio | 8.57% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 0.39% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 0.36% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $74 | $76 | — |
- CapitalNet worth ratio8.57%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late0.39%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets0.36%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$74Peers’ 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 Naveo Credit Union are confidential. These figures are what it reports to the NCUA each quarter, set beside its peers; they aren’t a rating.