Somerville Municipal Credit Union MA | Affordable Auto Loans & Business Banking

Introduction

Welcome to Somerville Municipal, your trusted financial partner located at 236 Holland St, Somerville, MA 02144. Established in 1941, we have been dedicated to serving our community with a commitment to reliability and trust. With a strong membership base of 2,328 members, we pride ourselves on providing personalized banking solutions tailored to meet your needs. At Somerville Municipal, we understand the importance of financial stability. That's why we manage total assets of $49,160,696 and ensure that our members benefit from competitive rates on loans and deposits. Currently, our total deposits stand at $6,899,533, reflecting the confidence our members place in us. We also offer various loan options with a total of 1,409 loans and leases, ensuring you can finance your dreams whether it's a new car or home. Our net worth is an impressive $8,392,299, supported by cash reserves of $340,540. This solid foundation allows us to be agile in responding to your financial needs while maintaining the security you expect from your credit union. Under the leadership of our CEO, Roland Draper, and Board President, Stephen Burgess, we continue to foster a culture of transparency and community engagement. We invite you to explore our range of services from personal banking solutions like checking and savings accounts to auto loans and mortgages. Our team is here to help guide you every step of the way. For any inquiries or assistance, feel free to reach out at (617) 625-0898 or visit us online at sommfcu.com. While members can visit us at 236 Holland St, official correspondence should be sent to the same address as our mailing address is the same. We look forward to welcoming you into the Somerville Municipal family!

Branch History & Mission

Commitment to Accessibility

We understand the importance of accessibility in today's world. That's why we offer an ATM on-site for easy cash withdrawals and balance checks. Although we do not currently provide drive-thru service or shared service center availability, our lobby hours are designed for your convenience: Monday, Wednesday, and Friday from 9:00 AM - 4:30 PM; Tuesday from 9:00 AM - 3:00 PM; and Thursday until 6:00 PM.

Join Us Today

As we continue to grow and adapt with the needs of our members, we invite you to experience the benefits of being part of Somerville Municipal. Whether you're looking for a new bank or seeking financial advice tailored just for you, we're here to help. Join us today and become part of a legacy built on trust, community spirit, and financial empowerment. For more information or to become a member, please contact us at 617-625-0898 or visit our website at sommfcu.com. Together, let's build a brighter financial future!

Our Mission

The mission of Somerville Municipal is simple yet powerful: we strive to provide exceptional financial services while actively supporting community initiatives. We believe that everyone deserves access to affordable banking solutions and personalized service. Our offerings include personal banking options like checking and savings accounts, auto loans, mortgages, credit cards with rewards, and business banking services. Our focus on community support is evident through various outreach programs and partnerships aimed at uplifting those around us. We aim to empower our members not just financially but also socially, contributing positively to the fabric of Somerville. While members can visit us at 236 Holland St, official correspondence should be sent to 236 Holland St, Somerville, MA 2144 if necessary. We are dedicated to modern banking practices as well; offering online and mobile banking services ensures that you can manage your finances conveniently from anywhere.

Branch Location & Accessibility

Welcome to the Somerville Municipal Credit Union, your friendly neighborhood financial partner located at 236 Holland St in vibrant Somerville, MA. Nestled close to local favorites like the iconic Davis Square and just a short stroll from the scenic parks, our branch is designed for your convenience. Whether you're stopping by for personal banking or exploring auto loans, we're here to meet your needs. While you can visit us at our main location on Holland Street, please send any official correspondence to the same address as our mailing address: 236 Holland St, Somerville, MA 2144. Our branch is easily accessible with ample parking available for our members. We are committed to providing a welcoming environment for everyone, featuring ADA-compliant facilities including ramps and accessible entrances. We understand that your time is valuable. That's why we offer flexible operating hours: Monday, Wednesday, and Friday from 9:00 AM to 4:30 PM; Tuesday from 9:00 AM to 3:00 PM; and Thursday from 9:00 AM to 6:00 PM. Whether you need assistance with checking accounts or loan options, our friendly team is ready to help during these hours. For your convenience, we have an ATM available for quick cash withdrawals and balance checks. While we currently do not offer drive-thru banking services or shared service centers, we strive to provide a comprehensive range of personal banking services including savings accounts, vehicle financing, mortgage loans, and more. Feel free to reach out by calling us at 617-625-0898 if you have any questions or need assistance. We can't wait to welcome you in person! Visit us today and discover how the Somerville Municipal Credit Union can support your financial journey.

Member Eligibility

At Somerville Municipal, we believe in creating a community where everyone can thrive. Becoming a member is simple and open to anyone who lives or works in the areas we serve. This includes not just residents of Somerville, but also those from nearby communities who are looking for a financial partner that truly cares about their needs. As a member, you'll enjoy personalized service and access to a wide range of financial products designed just for you. If you're interested in joining us, you can find detailed eligibility criteria on our website at this link. To make the process even easier, simply visit our account opening page at this link or give us a call at 617-625-0898. We can't wait to welcome you to the Somerville Municipal family!

Business Banking & Commercial Services

Merchant Services That Work for You

Running a business means managing transactions efficiently. Our merchant services simplify payment processing, allowing you to focus on what you do best serving your customers. Whether you're selling online or in-person, our solutions ensure that you can accept payments easily and securely. With an outstanding commercial loan portfolio of $0, we continue to drive economic growth by financing new and expanding businesses. At Somerville Municipal, located at 236 Holland St Somerville Ma 02144 in Somerville, MA, we're dedicated to being your partner in success. Connect with us today at (617) 625-0898 to explore how we can assist your business!

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 $8 in non-member commercial loans, providing flexible financing solutions.

Comprehensive List Of Services

Accessibility & Convenience

We believe banking should be easy and accessible for everyone. That's why we provide ATM & cash withdrawal services, giving you access to your money whenever you need it. Basic ATM access allows for withdrawals and balance checks without hassle. For any questions or further assistance regarding our services, don't hesitate to reach out! You can contact us at (617) 625-0898 during our convenient operating hours: Monday, Wednesday, Friday from 9:00 AM - 4:30 PM; Tuesday from 9:00 AM - 3:00 PM; and Thursday from 9:00 AM - 6:00 PM.

Business Banking

For our local entrepreneurs and businesses, we provide specialized services through our business banking options. From merchant services that facilitate payments seamlessly to business loans that help fund growth, we strive to support your venture every step of the way.

Call-to-Action

Ready to explore how we can assist you further? Visit us at Main Office today or check out our website for more information about opening an account or applying for a loan at https://www.sommfcu.com/ . Join us at Somerville Municipal, where your financial well-being is our top priority!

Credit Options

To make your purchases even more rewarding, we offer credit cards with rewards. These cards not only allow you to shop conveniently but also earn points for every dollar spent. Imagine using those points for travel or cash back it's a smart way to enhance your spending!

Digital Banking Features

In today's fast-paced world, managing your finances digitally is crucial. That's why at Main Office, we offer robust online and mobile banking capabilities. With these tools, you can check balances, transfer funds, pay bills, and more all from the comfort of your home or on-the-go via your smartphone.

Personal Banking Solutions

Starting with personal banking, we offer checking and savings accounts that fit various lifestyles. Whether you're saving for a rainy day or managing daily expenses, our accounts come with features designed for ease and flexibility. Need financing for a new car? Our auto loans and vehicle financing options provide competitive rates and terms, making it easier to drive away in the vehicle you want. If homeownership is on your mind, consider our mortgage loans and refinancing services. We understand that buying a home is a significant step, and we're here to guide you through the process with personalized support. Additionally, if you're facing unexpected expenses or looking to consolidate debt, our personal loans and debt consolidation solutions can help relieve financial stress.

Digital & Online Banking

Always Accessible

Whether you're at home or out running errands, our digital banking tools empower you to take control of your finances in real-time. With everything from viewing account activity to making payments available at your fingertips, you'll find that managing your money has never been more accessible. Experience the ease and flexibility of digital banking with Somerville Municipal today! Visit us online at https://www.sommfcu.com/ to get started on simplifying your financial journey.

Mobile Banking Made Simple

For those who are always on the go, our mobile application provides a seamless way to manage your accounts right from your smartphone. Enjoy features like mobile payments that let you pay directly from your device, making transactions quick and hassle-free. Plus, with person-to-person transfers, sending money to friends or family is simple and instant.

Secure Transactions

At Somerville Municipal, we prioritize your security. Our electronic signature authorization feature allows you to approve important documents safely and efficiently without the need for physical paperwork. You can also opt for e-statements to keep track of your financial activity while reducing clutter in your mailbox.

User-Friendly Online Banking

With our online banking platform, available at https://www.sommfcu.com/ , managing your finances has never been easier. You can check balances, pay bills, and transfer funds with just a few clicks. Our 24/7 online banking services mean you can take care of your banking needs whenever it suits you.

Financial Strength

Commitment to Growth

With $7,603,862 in undivided earnings, we reinvest in innovative banking tools and stronger lending options to serve our members better. Our lending capacity is significant; we currently have $25,630,720 in total loans and leases, which includes $95 in used auto loans. This capacity supports our members' financial goals across various sectors.

Growing Membership Base

Total Share Accounts stand at 4,480, showing a strong and growing member base that trusts us with their finances. This trust allows us to build long-lasting relationships with our members while continuing to enhance the quality of service we provide. Our financial strength means we can continue serving you with confidence. Whether you're saving, borrowing, or planning for the future, Somerville Municipal is your trusted partner. Visit us at 236 Holland St Somerville Ma 02144 or call 617-625-0898 to learn more about how we can help you achieve your financial goals.

Member-Centric Savings

Members' savings are secured through $9,092,478 in share certificates and $8,822,615 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 operational efficiency is reflected in our net income of $0, enabling us to continue offering competitive loan rates and solid financial products for our members. We also take pride in having 4 full-time employees and 1 part-time employee, ensuring our branches are always ready to serve you with a knowledgeable and committed team.

Solid Financial Foundation

With a net worth of $8,392,299, we maintain robust financial health, allowing us to offer better rates, lower fees, and enhanced member services. Our net worth ratio of 17.07% demonstrates a solid capital foundation, ensuring that we can continue providing loans, competitive savings rates, and uninterrupted services even in uncertain economic times.

Loan Offering

Auto Loans

Looking to buy a new car? Our auto loans offer some of the lowest rates in the industry, with over $1,272,558 in used vehicle loans and $1,086,471 in new vehicle loans already helping members get on the road. We provide flexible financing options for both new and used vehicles, making it easier for you to find the right car that fits your budget.

Mortgage Loans

Thinking about homeownership? Our mortgage options, including Junior Lien 1-4 Family Residential Properties loans totaling $3,526,636, make buying or refinancing simple. We provide various mortgage products tailored to meet your unique needs. Plus, if you're considering refinancing your existing mortgage, we have solutions that could lower your monthly payments or help you access equity.

Personal Loans and Credit Lines

For those unexpected expenses or larger purchases, our personal loans can provide the financial support you need. Additionally, we offer credit lines with a total limit of $500,000, giving you the flexibility to manage your cash flow efficiently. Our team is here to assist you in finding the right solution that aligns with your financial situation.

Unsecured Credit Cards

We also offer flexible terms on unsecured credit card loans. While currently there are no outstanding unsecured credit card loans issued at Somerville Municipal, we are committed to providing our members with reliable tools to help manage their finances effectively when they become available. Our dedicated staff is ready to guide you through each step of the loan process. If you're interested in learning more about eligibility options or would like assistance with refinancing existing loans, don't hesitate to reach out. You can contact us at (617) 625-0898 or visit us at our branch located at 236 Holland St, Somerville MA 02144. Performance insights and financial data are sourced from the National Credit Union Administration (NCUA) at: https://www.ncua.gov , based on the latest results. Let us help you navigate your financial journey today!

Loan Aggregator

Benefits of Using LendMesh

- Verified Data: Loan offers are sourced from legitimate financial institutions, ensuring transparency. - No Sponsored Listings: LendMesh does not prioritize lenders based on paid promotions our goal is to provide unbiased results. - Real-Time Rate Comparisons: Up-to-date loan rates from multiple institutions help users make informed decisions about their borrowing options. Thousands of users trust LendMesh for loan comparisons. One member shared: "LendMesh helped me find a lower mortgage rate in minutes, saving me thousands over the loan term!" This kind of feedback highlights the platform's effectiveness in assisting users to secure better financial outcomes. If you're looking for a reliable way to compare loan offers, consider using LendMesh. Compare real-time loan offers today at LendMesh and find the best rates for your needs. Disclaimer: Loan approvals and interest rates are subject to creditworthiness, income verification, and applicable federal and state regulations. Rates may vary based on financial institution guidelines.

Ensuring Accurate Comparisons

LendMesh stands out for its commitment to accurate loan comparisons. Loan data on LendMesh is sourced directly from banks and credit unions that comply with National Credit Union Administration (NCUA) lending standards, based on the latest results (Source: https://www.ncua.gov ). This means users can trust that the offers displayed are fair and transparent.

SOMERVILLE MUNICIPAL FEDERAL CREDIT UNION - Somerville, MA