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Company type | Credit union |
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Industry | Financial services |
Founded | 1967 |
Headquarters | , United States |
Area served | Amherst, Hadley, Northampton, Springfield, Worcester |
Products | Savings; Checking; Consumer Loans; Business Loans; Mortgages; Credit Cards; online banking; Mobile Banking; Investment; Financial Advisor; MassHousing; MassSave; Solar; Auto; FarmShare |
Website | www |
UMassFive College Federal Credit Union is an American credit union that operates as a non-profit financial co-operative headquartered in Hadley, Massachusetts. The credit union provides personal and business banking products and services to communities in Western Massachusetts and at the UMass Chan Medical School in Worcester.
UMassFive is a member of and Federally insured by the National Credit Union Administration (NCUA), [1] is a member of the CO-OP credit union network, and the MoneyPass ATM [2] network.
Founded by employees of the University of Massachusetts to serve UMass Amherst employees and their families, membership was expanded to cover the Five College Consortium in 1971. Over the years they have expanded membership to many local businesses and groups, with six branches serving communities in Western Massachusetts and Worcester. [3]
In 2023 UMassFive was voted Best Credit Union in the Pioneer Valley for the seventeenth year in a row. [4]
The University of Massachusetts Amherst is a public land-grant research university in Amherst, Massachusetts. It is the oldest, largest, and flagship campus of the University of Massachusetts system, and was founded in 1863 as the Massachusetts Agricultural College. It is also a member of the Five College Consortium, along with four other colleges in the Pioneer Valley.
The University of Massachusetts is the five-campus public university system and the only public research system in the Commonwealth of Massachusetts. The university system includes five campuses, a satellite campus in Springfield and also 25 campuses throughout California and Washington with the University of Massachusetts Global.
The Pioneer Valley Transit Authority (PVTA) oversees and coordinates public transportation in the Pioneer Valley of Western Massachusetts, offering fixed-route bus service, paratransit service, and senior van service. PVTA was created by Chapter 161B of the Massachusetts General Laws in 1974. Based in Springfield, Massachusetts, PVTA serves Hampden and Hampshire counties, and provides connecting service to CTtransit in Hartford County, Connecticut, to FRTA in Franklin County, and to WRTA in Worcester County. It is the largest regional transit authority, and second largest public transit system in Massachusetts after the Massachusetts Bay Transit Authority, providing service to over 11 million riders annually across 24 municipalities in the region, with about 70% of all riders using the system as their primary mode of transit.
Western Massachusetts, known colloquially as "western Mass," is a region in Massachusetts, one of the six U.S. states that make up the New England region of the United States. Western Massachusetts has diverse topography; 22 colleges and universities including UMass in Amherst, MA, with approximately 100,000 students; and such institutions as Tanglewood, the Springfield Armory, and Jacob's Pillow.
Navy Federal Credit Union is an American global credit union headquartered in Vienna, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). Navy Federal is the largest natural member credit union in the United States, both in asset size and in membership. As of November 2023, Navy Federal had US$168.4 billion in assets and has 13.3 million members.
SchoolsFirst Federal Credit Union is a federally chartered credit union that serves the educational community in California. It is headquartered in Tustin, California, and has branches throughout California. Before April 14, 2008, it was named Orange County Teachers Federal Credit Union, or OCTFCU.
America First Credit Union (AFCU) is a federally chartered credit union headquartered in Riverdale, Utah, United States. As of January 2020, America First was the sixth largest credit union in the United States in terms of total membership and eighth largest credit union in assets in the U.S.
One Nevada Credit Union, headquartered in Winchester, Nevada, is the largest locally based federally insured, state-chartered credit union in Nevada with locations in Las Vegas, Henderson, Reno, and North Las Vegas.
The Michigan State University Federal Credit Union (MSUFCU) is a credit union headquartered in East Lansing, Michigan. Primarily serving students and alumni of Michigan State University and Oakland University, MSUFCU is federally chartered and regulated by the National Credit Union Administration (NCUA). MSUFCU is the largest university-based credit union in the world, and the second-largest credit union in Michigan.
South Carolina Federal Credit Union is a credit union headquartered in North Charleston, South Carolina, that is supervised and insured by the National Credit Union Administration (NCUA), an agency of the U.S. government. South Carolina Federal is the largest, oldest, locally owned financial institution in the Charleston tri-county area. As of 2018, South Carolina Federal had over US$1.8 billion in assets and over 160,000 active members.
Credit unions in the United States served 100 million members, comprising 43.7% of the economically active population, in 2014. U.S. credit unions are not-for-profit, cooperative, tax-exempt organizations. The clients of the credit unions become partners of the financial institution and their presence focuses in certain neighborhoods because they center their services in one specific community. As of March 2020, the largest American credit union was Navy Federal Credit Union, serving U.S. Department of Defense employees, contractors, and families of servicepeople, with over $125 billion in assets and over 9.1 million members. Total credit union assets in the U.S. reached $1 trillion as of March 2012. Approximately 236,000 people were directly employed by credit unions per data derived from the 2012 National Credit Union Administration (NCUA) Credit Union Directory. As of 2019, there were 5,236 federally insured credit unions with 120.4 million members, and deposits of $1.22 trillion.
Wings Credit Union is a not-for-profit, member-owned credit union headquartered in Apple Valley, Minnesota. With assets of $8.4 billion, the credit union serves eligible Minnesota and Wisconsin counties, the metro areas of Seattle/Tacoma, Detroit, Orlando, Atlanta and employees in the air transportation industry nationwide. Wings was chartered in 1938 and is regulated by the National Credit Union Administration (NCUA).
Stanford Federal Credit Union is a federally chartered credit union located in Palo Alto, California. It provides banking services to the Stanford community. Stanford FCU has over $3.6 billion in assets and serves over 80,000 members.
Service Federal Credit Union is the largest credit union in New Hampshire, and is chartered and regulated by the National Credit Union Administration (NCUA). As of Q4 2020, Service Credit Union has over $4.5 billion USD in assets, and more than 321,000 members worldwide. Service Credit Union operates 37 branches in New Hampshire, Massachusetts, and North Dakota; and 14 branches serving American military personnel stationed in Germany.
Wright-Patt Credit Union (WPCU) is a US credit union or financial cooperative headquartered in Beavercreek, Ohio. The credit union was originally headquartered in Fairborn, Ohio; however, it relocated in early 2014. WPCU is registered as a state-chartered credit union, is the largest member-owned credit union in Ohio, and is one of the 50 largest credit unions in the United States. As of February 2022, WPCU has over $7.1 billion in assets, and over 446,000 members. WPCU is federally insured by the National Credit Union Administration (NCUA), which insures accounts in federal and most state-chartered credit unions in the United States. Deposits with Wright-Patt Credit Union are insured to $250,000.
Rally Credit Union is a credit union headquartered in Corpus Christi, Texas, chartered and regulated under the authority of the Texas Credit Union Department of the U.S. federal government. NavyArmy is the largest credit union in the coastal bend. As of September 2020, Rally has over $3.5 billion USD in assets, and over 196,000 members.
Georgetown University Alumni & Student Federal Credit Union (GUASFCU) is a credit union headquartered in Washington, D.C., chartered and regulated under the authority of the National Credit Union Administration (NCUA) of the US federal government. GUASFCU is the oldest and largest entirely student-run credit union in the country, both in asset size and in membership.
The Chamber of Central Mass South is the local chamber of commerce for portions of Hampden and Worcester counties within South Central Massachusetts. The chamber represents the business needs of over 300 businesses and thousands of employees in the area.
Workers Credit Union is a state-chartered credit union headquartered in Littleton, Massachusetts. The credit union was established in Fitchburg, Massachusetts in 1914, has more than $2.6 billion in assets, over 124,000 members, and operates sixteen full-service branches located in Athol, Chelmsford, Fitchburg, Gardner, Groton, Hudson, Lancaster, Leominster, Lunenburg, Orange, Townsend, Westford, Worcester, and Lowell. As the organization is a federally insured state-chartered credit union, Workers Credit Union is regulated by the National Credit Union Administration (NCUA). Workers Credit Union was officially chartered in 1914 and was assigned the NCUA charter number 66479.