MASS. INSTITUTE OF TECH.

700 TECHNOLOGY SQ
Cambridge, MA 02139

 

2019 Overview

General Credit Union Information

NCUA Insured Yes
Charter Number # # 3830
Date Established 1940
Assets $564.20 million
Loans $507.19 million
Deposits $512.55 million
Capital $41.92 million

Mass. Institute Of Tech. is an NCUA insured institution located in Cambridge, MA. It was founded in 1940 and has approximately $564.2 millions in assets.

Who can join?

The following can apply for membership:
• Massachusetts Institute of Technology Corporation employees who work in or are paid from Cambridge or Lexington, MA
• Undergraduate and Graduate students attending the Massachusetts Institute of Technology
• Alumni of the Massachusetts Institute of Technology
• Charles Stark Draper Laboratory, Inc. employees who work in or are paid from Cambridge, MA
• Whitehead Institute for Biomedical Research employees who work in Cambridge, MA
• Howard Hughes Medical Institute (HHMI) employees who work at the Massachusetts Institute of Technology in Cambridge, MA
• Broad Institute employees who work in Cambridge, MA
• Bright Horizons Family Solutions employees who work at the Massachusetts Institute of Technology Children's Center childcare program locations on the Massachusetts Institute of Technology campus in Cambridge, MA or the Massachusetts Institute of Technology Lincoln Laboratory location in Lexington, MA
• HealthFitness Corporation employees who work regularly under contract to the Massachusetts Institute of Technology in Cambridge, MA
• MIT Federal Credit Union employees
• MIT Office of Religious Life (MIT clergy) employees who work in Cambridge, MA
• Standard Parking Corporation employees who work regularly under contract at the Massachusetts Institute of Technology in Cambridge, MA
• GCR Professional Services, Inc. employees who work regularly under contract at the Massachusetts Institute of Technology in Cambridge, MA, MIT Lincoln Laboratory in Lexington, MA, or Charles Stark Draper Laboratory in Cambridge, MA
• Alexandria Real Estate Equities, Inc. employees who work in Cambridge, MA
• Employees of the following companies who work regularly under contract at MIT Lincoln Laboratory in Lexington, MA
o Additional Contract Services
o American Contract Group, Inc.
o Apex Systems, Inc.
o Aquila Technology
o Beacon Hill Staffing Group, LLC
o Ci Software Associates, Inc.
o DAG Consulting, Inc.
o Digital Prospectors Corporation
o EDA Staffing, Inc.
o Entegee
o General Dynamics
o John Galt Staffing, Inc.
o Kwajalein Range Services, Ltd.
o LinQuest Corporation
o Lockheed Martin Systems Management
o Mass. Electric Construction Company
o McLaughlin Research Corporation
o Minuteman Group, Inc.
o Nesco Resource
o Odyssey Systems Consulting Group, Ltd.
o Randolph Associates, Inc.
o Solidus Technical Solutions, Inc.
o TEK Microsystems, Inco.
o Travis Personnel Services
o UNICCO Service Company
o Zel Technologies, LLC
• Immediate family members (spouse, child, sibling, parent, grandparent, or grandchild, stepchildren, stepsibling, stepparents, and adoptive relationships) and people living in the same household (persons living in the same residence maintaining a single economic unit) of the above groups.
• Also included are persons retired as pensioners or annuitants from the above employment or spouses of persons who died while within the field of membership of this credit union.

Field of Membership Restrictions

Must be an employee at the MIT Campus, MIT Lincoln Laboratory, Charles Stark Draper Laboratory, Whitehead Institute, The Broad Institute or Bright Horizons Children's Center.

Deposit Rates - May 23, 2019

Your Current Location: Virginia, VA 20146

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Loan Rates - May 23, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for MASS. INSTITUTE OF TECH.

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Branches

Below are Mass. Institute Of Tech. branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Mass. Institute Of Tech. Locations


Financial Details

Mass. Institute Of Tech. Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Mass. Institute Of Tech.. The data is provided by the NCUA. All credit unions on BestCashCow, except those specified as not NCUA-insured in the overview section above, are NCUA-insured. Depositors should be careful to remain within NCUA insurance limits.

Texas Ratio
Mass. Institute Of Tech. U.S. Average
7.41% 7.49

The Texas Ratio compares the amount of loans at risk and assets repossessed with the amount a credit union has on hand to cover any losses. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a credit union has to absorb its loan losses.

As of December 31, 2018, Mass. Institute Of Tech. had $3,676,496 in non-current loans and $0 in owned assets. To cover these potential losses it had $41,915,254 in net worth and $7,690,534 in loans loss reserves. That gives it a Texas Ratio of 7.41%.

Net Worth
Mass. Institute Of Tech. U.S. Average
7.42% 13.61%

Mass. Institute Of Tech. FCU has a net worth of 7.42% versus the BestCashCow average of 13.61. Net worth measures how much total assets exceed total liabilities. The higher the net worth number the more secure a credit union is considered.

Frequently Asked Questions About Mass. Institute Of Tech.

Branches and Savings

What is Mass. Institute Of Tech.?

A federal credit union, registered with the NCUA under certificate #3830.
Learn more about credit unions here.

Is Mass. Institute Of Tech. FDIC insured?

No, credit unions are not insured by the FDIC. They are insured by the National Credit Union Administration. The insurance provisions of the NCUA are similar to, but not identical to, FDIC insurance.

Who can join Mass. Institute Of Tech.?

Please see Field of Membership information above for information on who is eligible to join.

What are Mass. Institute Of Tech.'s share account and share certificate rates?

Mass. Institute Of Tech.'s deposit account rates are listed above.
You may find better online savings rates here or better local savings rates at banks or credit unions. Tables with the best CD rates are here.

How big is Mass. Institute Of Tech.?

Mass. Institute Of Tech. has total capital of $41.92 million. Full information on Mass. Institute Of Tech.'s financial position is located above.

Who owns Mass. Institute Of Tech.?

Credit Unions are owned by their members.

Where are Mass. Institute Of Tech. branches located?

See branch locations nearby.

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Do Mass. Institute Of Tech. ATMs accept cash deposits?

Can Mass. Institute Of Tech. customers use other ATMs? What is the charge for withdrawing money from another ATM?

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What Products Does Mass. Institute Of Tech. Offer

Does Mass. Institute Of Tech. offer mortgages?

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Does Mass. Institute Of Tech. offer home equity lines of credit and home equity loans?

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Does Mass. Institute Of Tech. offer student loans or personal loans?

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