At Methuen Federal Credit Union, we offer several Savings &
Investment options to help you grow your money. These include
Regular Share Savings accounts, Christmas and Vacation Club
accounts, Certificate and IRA Accounts, as well as Savings
Open a share account with one share ($25.00), and you are a
member for life! Deposits may be made by payroll deduction,
direct deposit, by mail or by coming in to the office.
Withdrawals may be made by coming in to the office, or mailing
signed instructions. The Credit Union requires positive
identification in accordance with the US Patriot Act. Your
savings are federally insured up to $250,000.00 and backed by
the full faith and credit of the United States Government.
Vacation Clubs may be opened any time during the month of May.
Christmas Clubs may be opened any time during the month of
October. Both run for 52 weeks, and checks are mailed, unless
you indicate otherwise. We also have a Miscellaneous Club which
you may use for your own purpose. Your savings are federally
insured up to $250,000 and backed by the full faith and credit
of the United States Government.
CERTIFICATE SHARES (CDs)
Certificates of Deposits from your Credit Union are an excellent
investment opportunity if you do not need immediate access to
your funds and want to invest for longer periods to obtain high
rates of return. Your savings are federally insured up tot
$250,000 and backed by the full faith and credit of the United
Start Planning for your retirement today by opening an IRA
account at your Credit Union. With outstanding rates and funds
that grow tax deferred year after year, an IRA account is an
important part of your long-term savings portfolio.
Traditional IRA - offers tax-deferred earnings and the
possibility of tax deductible contributions.
Roth IRA - funded by non-deductible contributions but gives
owners the opportunity for tax-free withdrawals. New as of 1998.
Education IRA - New as of 1998, enables parents and others to
deposit $500 per year to be used for educational purposes.
Earnings grow tax-free if you meet the income requirements.
Shares are insured up to $250,000.00 by the National Credit
At Methuen Federal Credit Union, we
offer a variety of loan types to fit most any financial need you
may have. These include both secured and unsecured personal
loans, home loans, education, as well as overdraft protection
and line of credit loans. You must be a member of Methuen
Federal Credit Union to apply for one of our many loan types.
SHARE SECURED LOANS
Deposits in the Credit Union may be offered as collateral on a
loan. You may request terms and conditions suitable to you.
Rates are 3% plus the last declared dividend with a 6% floor
limit for loans 24mos -60mos. Loans exceeding 60 mos. will be
tied to the current 2nd mortgage rates for those terms.
Example of typical extension of credit:
$5,000.00 for 24 mos. @ 6.0%ANNUAL PERCENTAGE RATE: Monthly
payment: $235.36, Finance Charge: $648.36, Total Payback:
PERSONAL / UNSECURED LOANS
At Methuen Federal Credit Union, we offer Personal/Unsecured
loans for consumer purchases, debt consolidation, vacations or
any other need you may have. Apply in the office or complete our
online request. Salary verification is required. You may fax
your salary verification to the Credit Union at 978-686-2627.
AUTO / RECREATIONAL VEHICLE LOANS
New or used vehicles being purchased: A sales agreement will be
required, as well as proof of insurance. This information can be
faxed to the Credit Union at 978-686-2627. Currently owned
vehicles may be placed as collateral on non-purchase "collateral
loans". If applying on line, fax salary verification. We will
loan up to $50,000.00.
Life Insurance and disability insurance is available. GAP
Insurance is now available. Your High School or College children
are eligible. Go to our Insurance section for more detailed
information on available insurance options.
HOME EQUITY LOANS
The Credit Union now offers a Home Equity Line of Credit up to
$150,000.00. The rate is adjustable quarterly and based upon
prime. Apply by clicking below.
AUTO EQUITY LOANS
You can now use the equity in your automobile to consolidate
debt or use the cash for purchases, vacations or any other
purpose you have in mind. You can even re-write an existing loan
with the Credit Union, or transfer a loan from another financial
institution. The 72 month auto loan rate will prevail. Auto loan
terms and conditions apply.
LINE OF CREDIT (LOC) LOANS
The Credit Union now offers "Line of Credit" loans. Simply fill
out an initial application and receive a credit line and come in
from time to time, as needed, to get an advance on this line of
It can be used for any purpose. Share Draft account holders can
use this to pay overdraft advances. Complete our on-line
application or come into the office for details.
OVERDRAFT PROTECTION LOANS
Overdraft Protection is provided on every Share Draft account in
order to prevent returned/NSF checks. This is not intended to be
a line of credit, but a protection.
Advances are to be repaid in a timely manner and are not
encouraged. A disclosure of fees for multiple advances is
available in the credit union office. The time period for
repayment of overdrafts is 30 days.
A "Line of Credit" loan is also available to use along with your
Share Draft account as well. See our Line of Credit loan details
for more information.
EDUCATION LOANS (Non-Deferred)
Payoff existing student loans. These loans include secondary and
elementary school tuition.
A copy of an itemized tuition bill is required, as well as
salary verification. This information can be faxed to the Credit
Union at 978-686-2627 , or stop by the office. We will loan up
to $30,000.00 and will consolidate current Student and
Sallie Mae Smart Option Student Loan
The Methuen Federal Credit Union Smart Option Student Loan® by
Sallie Mae® is an ideal solution to help bridge that gap between
federal loans and the cost of your education expenses. Click the
link below for more details.
The Smart Option Student Loan
features and benefits:
- Competitive Interest Rates
- Borrow up to 100% of school certified education costs (minimum
- Multiple in-school repayment options available
- Borrower benefits available –like rewards and interest rate
- Rates that reward creditworthy borrowers
- Applying with a creditworthy cosigner may help you qualify
and/or receive a lower rate
- Fast Online Application. Our easy-to-complete application
takes about 20 minutes. It's quick and easy.
- 24/7 online account management.
- No prepayment penalty
To learn more or to apply, please
click the get started button
VISA CREDIT CARD
Our CU VISA includes extended warranty, lost, stolen or damaged
purchase insurance, life insurance on the unpaid balance of your
account, travel accident insurance, free replacement cards and
We also offer "Student Visas" for your college and high school
children. We don't use "gimmicks", we have a no-nonsense
Once you have received your VISA card, you can access your VISA
account on line as well as protect your card with Verified by
VISA. Simply click the appropriate quick link in the left tool
bar of our website.
BE ADVISED THAT ALL ONLINE BETTING TRANSACTIONS WILL
AUTOMATICALLY BE DECLINED. DO NOT ATTEMPT TO USE YOUR CARD FOR
If you would like to apply for one of our VISA Credit Cards,
simply click our secure online application in the left column.
LOST OR STOLEN VISA CREDIT CARD CALL
0% ENERGY LOAN
Methuen FCU is here to help you $AVE Money on your Energy Bills
and stay on your feet this Winter!
Getting Started is EASY as 1, 2, 3, 4!
1. Contact the Mass Save Home Energy Services Program at
866-527-SAVE to schedule your Home Energy Assessment and
2. Get PRE-APPROVAL for your 0% Loan through Methuen FCU by
3. You will be brought to our “Online Application” system. Under
“Loan Type” type “Mass Save Loan”.
4. Submit documentation, implement improvements, get EXCITED to
Some Qualified Improvements Include:
● Attic, Wall and Basement Insulation
● High Efficiency Heating Systems
● High Efficiency Domestic Hot Water Systems
● Solar Hot Water Systems
● Energy Star® Windows
● Energy Star® Thermostats
INQUIRE ABOUT OUR GREAT GOVERNMENT LOANS!
- FHA/FHA 203K
- REVERSE MORTGAGES
- VA MORTGAGES
Mortgage products offered in
partnership with Allanach Mortgage Group.
Broker's licenses MA# MB6033, NH#
5616, CT# 7160, RI# 20051935LB
The Credit Union is Registered
with the Nationwide Mortgage Licensing System
Methuen Federal Credit Union : NMLS ID: 643812
Eileen DiBartolomeo: NMLS ID: 709485
Jo-Ann M. Conlon: NMLS ID: 707114
For more information, go to
CFPB ‘Know Before You Owe’ Mortgage
The Consumer Financial Protection Bureau (CFPB) released a new
toolkit that guides consumers through the process of shopping
for a mortgage and buying a house. Developed as part of the
CFPB’s “Know Before You Owe” mortgage initiative, the toolkit
will help consumers take full advantage of the new Loan Estimate
and Closing Disclosure forms that lenders are required to begin
providing in August.
HERE to download Your home