Mass Institute of Tech Credit Union Cambridge MA | Best Auto Loans & Business Banking

Introduction

Welcome to the Mass. Institute Of Tech. branch of your trusted credit union, located at 84 Massachusetts Ave, Cambridge, MA 02139. Since our establishment in 1940, we have been dedicated to serving our community with reliability and care. With a proud membership of over 34,597 individuals, we believe in fostering financial growth and security for everyone. At our branch, we understand that financial decisions can be daunting. That's why we're here to guide you every step of the way. Our total assets stand strong at $705,519,613, which reflects our commitment to stability and growth for our members. We are proud to offer an array of services including personal banking, auto loans, mortgages, and business banking solutions tailored to meet your needs. While you can visit us at our Cambridge location for all your banking needs, please note that official correspondence should be sent to the same address: 84 Massachusetts Ave, Cambridge, MA 02139-4300. Our team, led by CEO Rui Domingos and Board President Clinton Blackburn, is dedicated to providing personalized service. Whether you have questions or need assistance with your accounts, feel free to reach out at 617-324-1349. With a solid net worth of $68,030,066 and total deposits amounting to $61,815,544, we prioritize the financial well-being of our members. Our goal is not just to serve you but to empower you on your financial journey. We invite you to explore how we can assist you today! Visit us online at mitfcu.org or stop by our branch during lobby hours: Monday through Wednesday and Friday from 9:00 AM to 4:30 PM, and Thursday from 9:00 AM to 5:30 PM. Let's work together towards a brighter financial future!

Branch History & Mission

Welcome to the heart of community banking at Mass. Institute Of Tech. Located at 84 Massachusetts Ave, Cambridge, MA 02139, our branch has been a pillar of support for local residents since it first opened its doors in 1940. Over the decades, we have proudly grown alongside our members, fostering relationships built on trust and dedication. From our humble beginnings, we have evolved into a thriving credit union with a total membership of 34,597 and assets amounting to over $705 million. Our journey is marked by significant milestones that reflect our commitment to serving the needs of our community. Through strategic partnerships and innovative services, we've ensured that our members receive not just banking solutions but also valuable resources for their financial journeys. At Mass. Institute Of Tech., our mission is clear: we aim to provide exceptional financial services while empowering our community through education and support. We believe in making banking accessible and straightforward for everyone, ensuring that each member feels valued and understood. Our services range from personal banking options like checking and savings accounts to auto loans, mortgages, and business banking solutions. In addition to traditional services, we are proud to offer modern conveniences such as online and mobile banking, ensuring that managing your finances is easy and convenient. Members can access ATM services right here at our branch, with extended hours for those who need flexibility in their banking routine. While we do not offer drive-thru service, we invite you to visit us during our operating hours: Monday through Wednesday and Friday from 9:00 AM to 4:30 PM, and Thursday from 9:00 AM to 5:30 PM. Community engagement is at the core of what we do. We actively participate in local events and outreach programs aimed at supporting various initiatives within Cambridge and beyond. By investing in local projects and partnering with organizations that share our values, we strive to make a positive impact on the lives of those around us. While members can visit us at 84 Massachusetts Ave, official correspondence should be sent to the same address as our mailing address: 84 Massachusetts Ave, Cambridge, MA 02139-4300. We invite you to join our family at Mass. Institute Of Tech. Experience the difference that comes with being part of a community-focused credit union dedicated to your financial success. Together, let's build a brighter future! For more information or assistance, feel free to reach out at (617) 324-1349 or explore our website at mitfcu.org.

Branch Location & Accessibility

ATM Availability

For added convenience, an ATM is available at our location. This means you can access your funds anytime you need them, whether it's for cash withdrawals or balance inquiries. If you have any questions or want more information about what we offer, don't hesitate to reach out! We invite you to stop by and experience our welcoming atmosphere firsthand. Visit us today at the Mass. Institute Of Tech. branch your trusted partner in financial wellness!

Convenient Access

At our branch, we prioritize accessibility for all members. You'll find ample parking available nearby, along with ADA-compliant features to ensure everyone can visit us without hassle. Whether you prefer to walk in or require some assistance, our friendly staff is always ready to help.

Operating Hours

We're here for you during the week! Our lobby hours are Monday through Wednesday and Friday from 9:00 AM to 4:30 PM, with extended hours on Thursdays until 5:30 PM. Whether you need assistance with your personal banking or have questions about our loans and services, we're just a phone call away at 617-324-1349.

Services Offered

While visiting us, you can take advantage of a wide range of services tailored to meet your financial needs. From checking and savings accounts to auto loans and mortgage refinancing, we provide comprehensive solutions designed with you in mind. Plus, if you're a member of another participating credit union, feel free to utilize our shared service center for basic transactions like deposits and withdrawals.

Member Eligibility

At Mass. Institute Of Tech., we believe that becoming a member is like joining a close-knit family where your financial well-being is our top priority. If you're looking to join us, the eligibility criteria are quite friendly! You can become a member if you're affiliated with the Massachusetts Institute of Technology, which includes students, faculty, staff, and even alumni. We also welcome those who live or work in the surrounding areas. It's as simple as that! For more detailed information about eligibility, feel free to visit our website at http://www.mitfcu.org/learn/membership . Opening an account with us is straightforward and hassle-free. Whether you need a checking account, savings account, or perhaps an auto loan, we've got you covered. You can start the process online by visiting https://app.loanspq.com/vl/vehicleloan.aspx ?enc=kw21wblm1yxpjjabdozadxl4euqhawituvnem8nqvtwmmceeqpjn9ggwmbp521gi or give us a call at (617) 324-1349 if you have any questions. We're located at 84 Massachusetts Ave Cambridge Ma 02139, and we're excited to help you take this important step toward financial empowerment!

Business Banking & Commercial Services

Merchant Services That Work

Imagine being able to accept payments easily and securely, allowing you to focus on what matters most running your business. Our merchant services offer just that. From point-of-sale systems to online payment processing, we make it simple for you to manage transactions efficiently. Located at 84 Massachusetts Ave Cambridge Ma 02139 in Cambridge, MA, our dedicated team is here to help you explore the right options tailored specifically for your business needs. Reach out today at (617) 324-1349 and let's discuss how we can partner together for your success!

Tailored Loan Options

Our commitment to supporting businesses is evident, with investments in business growth through our commercial lending programs: - We've funded over $0 in commercial loans for our members, helping businesses scale and succeed. - We also support the broader business community with $11 in non-member commercial loans, providing flexible financing solutions. - With an outstanding commercial loan portfolio of $0, we continue to drive economic growth by financing new and expanding businesses.

Comprehensive List Of Services

ATM Services

For added convenience, we provide ATM services that allow withdrawals and balance checks without the hassle of visiting the branch. Our shared branching network also ensures that if you're traveling or away from home, you can still access basic banking services easily. At Mass. Institute Of Tech., we're more than just a credit union; we're a community-focused financial institution committed to supporting our members' needs every step of the way. If you're ready to learn more about how we can assist you or if you'd like to open an account today, please give us a call at (617) 324-1349 or visit us online at https://www.mitfcu.org/ . We look forward to serving you!

Business Banking

For our members who own businesses, we provide comprehensive business banking solutions, including merchant services and business loans. This means you can focus on growing your business while we take care of your banking needs.

Credit Cards

With our credit cards featuring rewards programs, you can earn points on everyday purchases while enjoying the convenience of cashless transactions. This can be particularly useful when planning for vacations or making larger purchases.

Digital Banking Features

In today's fast-paced world, having access to digital banking is essential. At Mass. Institute Of Tech., we offer online and mobile banking platforms that allow you to handle transactions anytime. You can use features like person-to-person payments, mobile payments, and e-statements to simplify your financial management.

Loans and Financing

Thinking about buying a home? Our mortgage loans and refinancing solutions are here to help you make informed decisions. We understand that life can bring unexpected expenses, which is why we also offer personal loans and debt consolidation options to help you regain control over your finances.

Personal Banking

Our personal banking services include checking and savings accounts tailored to help you manage your finances effectively. Imagine having easy access to your funds with online and mobile banking, allowing you to check balances, transfer money, or pay bills from anywhere. If you're considering buying a car, our auto loans and vehicle financing options can make that process smooth and straightforward.

Digital & Online Banking

Always There When You Need Us

Life doesn't stop when the bank closes. That's why our online banking service allows you to manage your accounts anytime day or night. Need to make a quick payment or check your balance? Just log in! And if you're looking for contactless options, our mobile payments feature lets you complete transactions swiftly and securely. Experience the convenience of banking at Mass. Institute Of Tech. today! Visit us online at https://www.mitfcu.org/ and explore all the ways we can help you manage your money better while keeping it safe and accessible.

Key Features for Your Convenience

Our online banking service puts you in control. You can check balances, pay bills, and transfer money all with just a few clicks. If you prefer to do things from your smartphone, our mobile application is available for download, making it easy to bank anytime, anywhere. Whether you're paying a friend using our person-to-person transfers or managing your e-statements, everything is designed for simplicity and ease of use.

Secure and User-Friendly

We prioritize your security. With features like electronic signature authorization, you can sign documents safely without needing to visit the branch. Your sensitive information is protected with robust security measures, so you can bank with confidence. Plus, if you choose e-statements, you'll not only reduce paper clutter but also gain quicker access to your financial records.

Financial Strength

A Solid Foundation

With a net worth of $68,030,066, we maintain strong financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of $964 demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Member-Centric Savings

Members' savings are secured through $114,597,431 in share certificates and $47,897,351 in money market shares, offering stable and rewarding financial growth opportunities. Unlike traditional banks, we prioritize our members. With non-member deposits at $0, we ensure that our resources are focused on benefiting you through better loan rates, lower fees, and exclusive perks.

Operational Efficiency

Our performance is reflected in our $5,162,802, which showcases our operational efficiency. This allows us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 92 full-time employees and 0 part-time employees, ensuring our branches are always ready to serve you with a knowledgeable, committed team.

Reinvesting for Growth

With $57,385,912 in undivided earnings, we reinvest in innovative banking tools, stronger lending options, and enhanced security measures to serve our members better. Our lending capacity is robust; we have $4,328 in used auto loans and $570,674,633 in total loans and leases that support your financial goals across various sectors.

Strong Community Trust

Total Share Accounts: 70,949, showing a strong and growing member base that trusts us with their finances. Net Shares (Funds available for lending and investments): $3,027,924. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Mass. Institute Of Tech. is your trusted partner. Visit us at 84 Massachusetts Ave Cambridge Ma 02139 or call (617) 324-1349 to learn more about how we can help you achieve your financial goals.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry, with over $19,027,677 in used vehicle loans and $14,065,799 in new vehicle loans already helping members get on the road. Whether you're interested in financing a brand-new vehicle or a reliable used one, we have options that can make it happen.

Credit Lines and Unsecured Loans

For those who need extra flexibility in managing their finances, we provide total credit lines amounting to $343,787,017. Additionally, we also offer flexible terms on unsecured credit card loans; however, currently, there are no outstanding amounts in this category.

Mortgage Loans

Thinking about homeownership? Our mortgage options, including Junior Lien 1-4 Family Residential Properties loans totaling $65,901,584, make buying or refinancing simple. We strive to make the process as straightforward as possible so you can focus on what matters most your new home.

Refinancing Options

If you're considering refinancing any existing loans or exploring eligibility for our products, our team is here to guide you through the options available. We believe that refinancing should be an accessible choice for anyone looking to save money or adjust their payment plans. Our branch is located at 84 Massachusetts Ave Cambridge Ma 02139. Feel free to reach out to us at 617-324-1349 if you have questions or want more information about our loan offerings. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov , based on the latest results. At Mass. Institute Of Tech., we're dedicated to helping you navigate your financial journey with confidence and clarity.

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MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION