Credit union · NCUA insured
Somerset Federal Credit Union
A $261.9M credit union headquartered in Somerset, MA, with 11,688 members and 2 branches in Massachusetts. Best rates: CDs 4.50% and savings 0.15% APY.
Somerset Federal Credit Union Carrot Score
74
Carrot Score
Higher than 35% of U.S. banks and credit unions
#27 of 44 in Providence, RI-MA metroHow the score works →
Deposits are federally insured by the NCUA up to $250,000 per depositor.
About Somerset Federal Credit Union
Founded in 1936, Somerset Federal Credit Union is a member-owned not-for-profit financial cooperative headquartered in Somerset, Massachusetts.
The credit union operates two locations serving Bristol, Plymouth, and Barnstable counties in Massachusetts as well as multiple counties and towns across Rhode Island.
- Headquarters
- 740 County St, Somerset, MA 02726
- NCUA charter
- 24239
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This may be incomplete or out of date, so check with the credit union before you apply.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
- Persons who live, work, worship, or attend school in specified counties and towns in Massachusetts and Rhode Island are eligible for membership.
Employers and groups
- Organizations comprised of persons who qualify for membership may open an account.
Family and household
- Immediate family members of individuals eligible through the geographic field of membership qualify for membership.
Cost to join
- An initial deposit of $5 is required to become a member and must remain on deposit for the life of the account.
Branches
2 branches in Massachusetts
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Massachusetts
2 branches
- Somerset Federal Credit UnionMain office740 County St, Somerset, MA 02726Directions
- Swansea Branch1723 Gar Hwy, Swansea, MA 02777Directions
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 | 12.51% | 11.43% | 13.58% or more |
| Troubled loans60+ days late | 0.19% | 0.68% | 0.39% or less |
| ProfitabilityReturn on assets | 0.70% | 0.75% | 1.18% or more |
| LendingLoans per $100 deposited | $75 | $76 | — |
- CapitalNet worth ratio12.51%Peers’ middle 11.43% · Top 25% 13.58%+
- Troubled loans60+ days late0.19%Peers’ middle 0.68% · Top 25% ≤0.39%
- ProfitabilityReturn on assets0.70%Peers’ middle 0.75% · Top 25% 1.18%+
- LendingLoans per $100 deposited$75Peers’ 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 Somerset 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.