Sep, 30, 2025 — MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION is a federal credit union headquartered in LEXINGTON, MA with 4 branch locations and about $728.99 million in total assets. Opened 86 years ago in 1940, MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION has about 34,821 members and employs 91 full and part-time employees offering various banking and financial related services such as Checking & Savings accounts, ATM/Debit Card Program and more.
| Name: | MASS. INSTITUTE OF TECH. FEDERAL CREDIT UNION |
|---|---|
| Address: (Main Office) | 70 Westview St LEXINGTON, MA 02421-3142 |
| Phone: | (781) 423-2022 |
| Fax: | (617) 258-5709 |
| Website: | https://www.mitfcu.org |
| Branches: | 4 branch locations |
| Members: | 34,821 |
| Credit Union Type: | Federal Credit Union |
| Charter Number: | 3830 |
|---|---|
| Membership Type: | Multiple common bond - Primarily educational |
| Corporate Credit Union: | No |
| Year Opened: | 1940 |
| Last Audited: | Dec 01, 2024 |
| FHLB Member: | Yes |
| Low Income Designation: | No |
| Assets: | $728,989,323 |
| CEO/Manager: | Rui F Domingos |
| Chairperson: | Steven Winig |
| ASSETS: | $ Amount |
|---|---|
| Cash & Equivalents | 116,085,252 |
| TOTAL INVESTMENTS | 0 |
| Loans Held for Sale | 1,918,108 |
| Real Estate Loans | 449,401,523 |
| Unsecured Loans | 56,193,256 |
| Other Loans | 29,354,914 |
| TOTAL LOANS | 534,949,693 |
| (Allowance for Loan & Lease Losses or Allowance for Credit Losses on Loans & Leases) | -4,173,332 |
| Land And Building | 10,796,024 |
| Other Fixed Assets | 1,620,066 |
| NCUSIF (National Credit Union Share Insurance Fund) Deposit | 5,594,822 |
| All Other Assets | 10,034 |
| TOTAL ASSETS | 728,989,323 |
| LIABILITIES & CAPITAL: | |
| Dividends Payable | 0 |
| Notes & Interest Payable | 0 |
| Accounts Payable & Other Liabilities | 9,042,830 |
| Uninsured Secondary Capital and Subordinated Debt Included in Net Worth | 0 |
| Share Drafts | 193,183,991 |
| Regular shares | 174,492,695 |
| All Other Shares & Deposits | 284,272,271 |
| TOTAL SHARES & DEPOSITS | 651,948,959 |
| TOTAL LIABILITIES | 660,991,789 |
| Regular Reserve | 0 |
| Other Reserves | -3,019,685 |
| Undivided Earnings | 71,017,219 |
| TOTAL EQUITY | 67,997,534 |
| TOTAL LIABILITIES, SHARES, & EQUITY | 728,989,323 |
| INCOME & EXPENSE | |
| Loan Income | 18,870,422 |
| Investment Income | 3,173,211 |
| Other Income | 2,591,209 |
| Total Employee Compensation & Benefits | 8,543,652 |
| NCUSIF (National Credit Union Share Insurance Fund) Premiums Expense | 0 |
| Total Other Operating Expenses | 8,217,989 |
| Non-operating Income & (Expense) | 203,988 |
| NCUSIF Stabilization Income | N/A |
| Provision for Loan/Lease Losses or Total Credit Loss Expense | 533,333 |
| Cost of Funds | 6,059,302 |
| NET INCOME (LOSS) EXCLUDING STABILIZATION EXPENSE & NCUSIF PREMIUM | N/A |
| Net Income (Loss) | 2,546,295 |
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