SOMERSET

740 County Street
Somerset, MA 02726

 

2019 Overview

General Credit Union Information

NCUA Insured Yes
Charter Number # # 24239
Date Established 1936
Assets $144.55 million
Loans $83.70 million
Deposits $123.88 million
Capital $20.77 million

Somerset is an NCUA insured institution located in Somerset, MA. It was founded in 1936 and has approximately $144.55 millions in assets.

Field of Membership Restrictions

Membership is open to those who live or work in Bristol County and their immediate family.

Deposit Rates - May 23, 2019

Your Current Location: Virginia, VA 20146

Savings and Money Market Rates (Share Account Rates) APY MIN MAX
Money Market
0.15% $1,000 - Learn MoreShow Less
CD Rates (Share Certificate Rates) APY MIN MAX
6 Mo CD
0.25% $500 - Learn MoreShow Less
12 Mo CD
0.75% $500 - Learn MoreShow Less
24 Mo CD
1.11% $500 - Learn MoreShow Less
36 Mo CD
1.26% $500 - Learn MoreShow Less
48 Mo CD
1.36% $500 - Learn MoreShow Less
60 Mo CD
1.71% $1,000 - Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg
0.05% $500 - Learn MoreShow Less

Loan Rates - May 23, 2019

Your Current Location: Virginia, VA 20146

There are currently no loan rates available for SOMERSET

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:

Featured - Virginia 30 Year Fixed Mortgage Rates 2019

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Rocket Mortgage
NMLS ID: 3030
4.875% 4.875% 0.00 $0 $1,324 Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
5.250% 5.250% 0.00 $0 $1,381 Learn More
AimLoan.com NMLS#2890
NMLS ID: 2890
License#: MC-3098
3.905% 3.875% 0.38 $900 $1,176 Learn More

Featured - Virginia Home Equity Line Of Credit Rates 2019

Lender APR (%)? Monthly Payment? Learn More
PenFed Credit Union
PenFed Credit Union
5.500 %
$0 Learn More
More Info
Third Federal Savings and Loans
Third Federal Savings and Loans
4.490 %
$0 Learn More
More Info

Note to SOMERSET
To upload and update your bank's rates please register. It is free to register and add rates.



Branches

Below are Somerset 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


Somerset Locations


Financial Details

Somerset Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Somerset. 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
Somerset U.S. Average
7.45% 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, Somerset had $1,555,956 in non-current loans and $0 in owned assets. To cover these potential losses it had $20,772,285 in net worth and $117,892 in loans loss reserves. That gives it a Texas Ratio of 7.45%.

Net Worth
Somerset U.S. Average
14.37% 13.61%

Somerset FCU has a net worth of 14.37% 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 Somerset

Branches and Savings

What is Somerset?

A federal credit union, registered with the NCUA under certificate #24239.
Learn more about credit unions here.

Is Somerset 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 Somerset?

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

What are Somerset's share account and share certificate rates?

Somerset'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 Somerset?

Somerset has total capital of $20.77 million. Full information on Somerset's financial position is located above.

Who owns Somerset?

Credit Unions are owned by their members.

Where are Somerset branches located?

See branch locations nearby.

Are Somerset ATMs Open 24/7?

Do Somerset ATMs accept cash deposits?

Can Somerset customers use other ATMs? What is the charge for withdrawing money from another ATM?

Does Somerset have a mobile app?

Does Somerset have mobile deposit?

Does Somerset have quick pay?

How can Somerset transfer money to other banks or credit unions?

Does Somerset report to credit bureaus?

Does Somerset use Chexsystems?

Does Somerset use Equifax?

What is Somerset's toll free phone number?

What is Somerset's ACH Routing Number?

What is Somerset's SWIFT code?

Where can I find Somerset's wire transfer form?

What is the Somerset address for deposits?

What Products Does Somerset Offer

Does Somerset offer mortgages?

Compare mortgage rates here.

Does Somerset offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Somerset offer auto and RV loans?

Compare auto loan rates here.

Does Somerset offer student loans or personal loans?

Compare personal loan rates here.

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